Description

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.

Requirements

Interested Candidates:
Complete the employment application online at https://www.copera.org/careers. Please have copies of your resume and cover letter available to upload.

Job Description Disclaimer

This job description is not designed to cover or contain a comprehensive listing of activities, duties, or responsibilities that are required of an employee. Duties, responsibilities, and activities may change or be assigned with or without notice.

Unfortunately, at this time, PERA cannot consider candidates that require sponsorship (now or in the future), or are located outside of the US.

All Colorado PERA employees are subject to PERA’s Ethics Policy and some employees are subject to the Personal Trading Policy. These policies include restrictions on outside business activities and employment and have certain requirements on personal trading.  You may request copies of these policies from PERA’s talent acquisition team and any questions can be answered by PERA’s Investment Administration team.

Why Work at PERA

Colorado PERA offers more than a traditional pension career. We are a mission-driven organization with a growing focus on technology and modernization. Employees have the opportunity to do meaningful work with a real impact on over 700,000 members. From enhancing digital tools and member experiences to supporting major enterprise initiatives, employees are part of meaningful, future-focused work that blends public service with innovation. We take pride in our inclusive culture, career development opportunities, and our consistent recognition as a Top Workplace based on employee feedback. PERA is a place to connect, contribute, and be part of something bigger.

A Culture That Cares

At PERA, leveraging employee strengths and supporting strong engagement are the foundations of our culture. Employees are encouraged to grow through development opportunities and internal career movement, while also being part of an organization where people feel respected, informed, and included. Collaboration is encouraged across teams, allowing employees to learn from one another and contribute in ways that maximize their unique skills. We strive to foster an environment where employees can do their best work and feel supported by the people around them

An Employer that Invests in You

PERA invests in our employees in ways that matter; from comprehensive benefits and generous paid time-off to thoughtful everyday amenities that enhance the office experience. Employees are encouraged to continue learning through training, mentoring, and development at every stage of their careers. We champion a workplace where people feel valued, inspired, and equipped to grow.

Join Us
If you’re energized by meaningful work, motivated by an organization that evolves with a changing world and looking for an employer that invests in you, then consider joining PERA’s team. Learn more about careers at PERA at copera.org/careers.

Position Title: Investment Real Estate Portfolio Manager
Division: Investment – Real Estate
Reports to: Director of Real Estate
Job Status: Full-time, Exempt
Salary: $190,000.00 to $230,000.00 Annual, Commensurate with experience
Posting Dates: 07/24/2026 to 08/09/2026