Portfolio Manager - Real Estate

Real Estate Portfolio Manager

About Tether

Tether is pioneering a global financial revolution with cutting-edge solutions that empower businesses to integrate reserve-backed tokens across blockchains. We enable instant, secure, and global digital token transactions at a fraction of the cost. Transparency is fundamental to our operations. Our innovative product suite includes the stablecoin USDT, digital asset tokenization services, sustainable energy solutions for Bitcoin mining (Tether Power), AI and P2P technology advancements (Tether Data with KEET app), and democratized digital learning (Tether Education).

Why Join Us?

Join a global talent powerhouse working remotely. If you're passionate about fintech, this is your opportunity to collaborate with bright minds, push boundaries, and set new industry standards. We've grown fast, stayed lean, and secured our place as a leader.

About the Job

We are seeking a seasoned Real Estate Portfolio Manager to oversee a ~$1 billion portfolio of real estate investments. The portfolio includes third-party managed funds, co-investment SPVs, and select direct assets, with a primary focus on commercial real estate (hospitality) and selective residential exposure. This is a portfolio oversight role, not transaction origination. You will be responsible for monitoring, managing, reporting, ensuring manager accountability, asset performance tracking, and supporting the Investment Committee.

This is a high-ownership, high-visibility role where you will act as the primary analytical and operational interface between the Investment Committee and external fund managers, asset operators, development partners, and advisors. You are expected to challenge assumptions rigorously, add value through independent judgment, and hold third parties accountable for performance, transparency, and accountability.

Responsibilities

Portfolio Monitoring & Fund Oversight:

• Act as the primary point of accountability for all third-party managed fund relationships.
• Critically review monthly reporting packages and fund information, tracking key metrics, benchmarking performance, identifying risks, and escalating deviations.
• Challenge underwriting assumptions (cap rates, exit yields, rent growth, occupancy, development timelines, budgets) using market data and comparable evidence.

SPV & Direct Investment Management:

• Review and challenge budgets, liquidity forecasts, cash flow projections, and capital requirements from operating partners and SPV management teams.
• Monitor cash positions, funding requirements, and drawdown schedules, escalating potential liquidity constraints or cost overruns.
• Perform rigorous monthly and quarterly variance analysis of actual performance vs. budget, providing clear IC commentary.

Development Project Monitoring:

• Conduct structured site visits to assess physical progress against business plans and timelines.
• Review and challenge project schedules, milestone achievement, cost-to-complete estimates, and delivery risks.
• Review project cost reports, construction drawdown requests, and change order logs, challenging escalations and ensuring contingency use is documented.
• Maintain a project-level risk register covering planning, construction, market, and operational risks.

Third-Party Relationship Management:

• Serve as the main day-to-day interface with fund managers, asset managers, property managers, development companies, hotel operators, and advisors.
• Participate actively in advisory boards and investor committees, representing Tether’s interests.
• Establish and enforce reporting standards, timelines, and information requirements.
• Hold counterparties accountable against agreed budgets, KPIs, timelines, and business plans.
• As required, act as a director, board observer, or shareholder representative on portfolio companies, subsidiaries, SPVs, and investment vehicles.

IC Reporting & Decision Support:

• Prepare high-quality IC reports (monthly, quarterly, ad hoc) covering performance, developments, risks, and recommendations.
• Develop and maintain asset-level and portfolio-level dashboards tracking KPIs against targets.
• Provide scenario analysis and sensitivity testing for refinancing, exit timing, and market value movements.
• Author and support investment memoranda for new commitments and follow-on investments.

Requirements

• Minimum 8–12 years of progressive experience in real estate investment management, asset management, or a closely related field.
• Demonstrable experience managing or overseeing a real estate portfolio exceeding €500M in aggregate value.
• Strong track record with closed-end and/or open-end real estate fund structures, understanding fund structures, LPAs, governance, capital calls, distributions, and GP/LP dynamics.
• Experience overseeing SPV structures, directly held investments, and third-party operating partners.
• Demonstrated ability to oversee and challenge external fund managers, operators, development partners, and advisors.
• Prior exposure to hospitality real estate is strongly preferred.
• Experience attending and contributing to investment committees, board meetings, or advisory committees.
• Degree-level education in Finance, Economics, Real Estate, Business Administration, or a related discipline. CFA, MRICS, or equivalent is favorable.
• Expert-level financial modeling capability (cash flow models, DCF valuations, waterfall distributions).
• Ability to critically assess fund financial statements, NAV calculations, and asset valuations.
• Strong understanding of real estate operating economics, budgeting, forecasting, and variance analysis.
• Experience reviewing and supporting private real estate valuation processes.
• Ability to read and navigate key commercial and investment documentation (LPAs, SPAs, SHAs, financing agreements, etc.).
• Strong written and verbal communication skills, with the ability to distill complex matters into concise recommendations for senior management and Investment Committee audiences.

Important Information for Candidates:

• Apply only through official channels (Tether careers page: https://tether.recruitee.com/).
• Verify recruiter identity via LinkedIn or official website.
• Be cautious of unusual communication methods (no interviews over WhatsApp, Telegram, SMS).
• Official emails end in @tether.to or @tether.io.
• We will never request payment or financial details.