Investment Real Estate Portfolio Manager

Summary Of Job Responsibilities The Portfolio Manager – Real Estate is responsible for managing and optimizing the performance of a diversified real estate portfolio through strategic, financial and operational oversight. This position evaluates, underwrites, and performs due diligence on real estate investments; makes buy, sell and hold recommendations based on research and financial analysis; and participates in the development and execution of annual investment and asset business plans. The role also provides ongoing oversight of asset-level performance, financial results, leasing strategy, and capital initiatives while ensuring adherence to fiduciary and investment guidelines. IDEAL CANDIDATE The ideal candidate is a strategic and collaborative investment leader who brings real estate expertise and judgment, and a proven ability to lead high-performing teams in a complex institutional environment. This person will be energized by the opportunity to shape long-term investment strategy, partner closely with external Investment Advisors, and help strengthen Colorado PERA’s Real Estate investment program through thoughtful decision-making, clear communication, and disciplined execution. The strongest candidates will combine technical credibility with sound leadership instincts, a commitment to integrity and accountability, and the ability to build trusted relationships with colleagues and investment partners. Essential Duties And Responsibilities Employees are held accountable for all duties of the job. Individuals must be able to perform these duties with or without reasonable accommodations. Monitors, evaluates, and manages assigned real estate investments to maximize value and risk-adjusted returns. Develops and implements asset-level and portfolio-level strategies, including annual business plans, investment plans, and capital programs. Underwrites and performs due diligence for new investment opportunities and prepares investment recommendations. Makes buy, sell, and hold recommendations based on market research, financial modeling, and performance analysis. Establishes and maintains partnership structures to ensure alignment with investment partners and maintain PERA’s required partnership authority. Oversees financial performance measurement, including budgets, forecasts, cash flows, and return analysis. Reviews and evaluates financial and operational reporting provided by property managers, external consultants, and investment partners. Reviews and approves lease transactions, renewals, and leasing strategies to support portfolio objectives. Evaluates property conditions and recommends capital improvement, repositioning, or redevelopment initiatives. Reviews and authorizes cash contributions, capital calls, and management fees in accordance with investment agreements. Participates in advisory board meetings and partnership advisory committees, as applicable. Assists in the selection, evaluation, and ongoing monitoring of external investment managers and advisors. Ensures compliance with investment advisor contracts, fiduciary requirements, and program investment policies. Maintains awareness of regional, national, and international real estate market trends and economic conditions. May provide direction, mentoring, and training to junior staff. Performs other duties as assigned Job Qualifications Bachelor’s degree required. MBA, CFA, and/or CAIA designations preferred.Seven+ years experience in managing investment portfolios, with a demonstrated track record of success.Significant experience in commercial real estate investment, asset management, and portfolio management, including acquisitions, dispositions and financing.Experience managing direct real estate holdings and partnership investments preferred.Requires a high level of ethics and demonstrated commitment to accountability.Effective and persuasive oral and written communication, presentation, and negotiation skills.Analytical Thinking - breaks down complex investment, financial, and operational issues; evaluates costs, benefits, and risks of alternatives; and supports decisions with logical, data-driven reasoning. Decisiveness - evaluates viable options and consequences, makes timely and informed investment and asset decisions, and takes ownership of outcomes. Results-Oriented - demonstrates accountability for achieving performance objectives, meeting timelines, and driving measurable portfolio and asset results. Strong working knowledge of financial markets, real estate valuation, and macroeconomic influences on investment performance.Advanced financial modeling, underwriting, and analytical skills.Experience leveraging AI tools to enhance productivity and efficiency, proactively identifying opportunities to apply emerging technologies that improve workflows and outcomes.Proficiency in Microsoft Office and financial or investment analysis software.Effective oral and written communication, presentation, and negotiation skills.Strong interpersonal skills, including collaboration, leadership, and conflict resolution. Working Conditions The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions. Standard office environment with frequent telephone communication, computer operation, and other office productivity machinery, such as a copy and printer machine. Occasional moving and positioning supplies in excess of 20 pounds All employees are expected to present themselves in a professional manner in alignment with the financial services industry Ability to sit for prolonged periods of time Ability to operate standard PC equipment Ability to manage frequent deadlines and tight schedules Hybrid Work Option Opportunity to work from home up to three days per week. Eligibility dependent upon factors detailed in PERA's Work from Home Policy.