Core Spaces (Core) is more than a real estate company; it's a people company. Where building relationships is just as important as building properties. From researchers and architects to designers and operators, Core is made up of risk takers and dreamers who are on a mission to invent the future of living. Our six cultural values guide us every day and we strive to live them in everything we do: PUSH (Invent Better Places to Live), GRIT (We Got This), LIFT (Help Each Other Win), SHINE (Bring Your Full Self), UPHOLD (Never Break Trust), GROW (Always Get Better). Everything Core does stem from this culture of collaboration and innovation, and the drive to constantly improve the resident experience. This unique approach has led to creating spaces and services that are redefining the way people live.

Founded in 2010, Core is a vertically integrated real estate investment manager focused on acquiring, developing and managing across the student housing and build-to-rent ("BTR") sectors. Its residential communities feature world-class amenities, progressive design, and hospitality-driven service. Core's student housing portfolio includes over 74,440 beds currently owned or managed, with a pipeline of over 53,860 beds in various stages of development. Core's BTR division has over 3,000 homes under development, now leasing or in its pipeline in high-growth metros nationwide. For more information, visit www.corespaces.com.

*Portfolio and pipeline numbers as of Q1 2026

• A culture that provides you with a sense of belonging
• Competitive pay that values your contributions
• Incentives designed to reward your achievements
• Paid flexible PTO to disconnect or celebrate life milestones
• Paid 14+ holidays, including your birthday, to disconnect and celebrate
• Paid Parental Leave that begins after 90 days
• Paid volunteer time off to give back to your community
• Monthly workshop weeks; fewer meetings & more collaboration
• Robust health plan options that begin within at least 30 days of your employment
• Monthly phone reimbursement
• Wellness allowance and perks, including a yearly subscription to a meditation app
• An environment that provides you a voice to share your perspectives
• Employee Assistance Program (EAP) for access to confidential support services
• Company retirement options including 401(k) + matching & Roth account option

The Portfolio Manager - Closed End Fund Series is a senior investment management leader responsible for the strategy, oversight, and performance of Core Spaces' closed-end, drawdown investment vehicles. This role owns fund-level portfolio construction, capital deployment strategy, portfolio monitoring, performance attribution, investor reporting, and governance across the full fund lifecycle. The Portfolio Manager serves as a key decision-making partner to Acquisitions, Asset Management, Development, Capital Markets, Finance, and Investor Relations to ensure portfolio activity, business plans, and investor commitments remain aligned.

This role requires significant independent judgment, strategic decision-making, and accountability for matters of significance, including portfolio composition, deployment pacing, fund performance, investor communications, and cross-functional execution. The role is expected to operate with a high degree of autonomy and influence within a vertically integrated real estate platform.

Fund Strategy, Portfolio Construction, and Capital Allocation

• Own fund-level portfolio strategy across closed-end vehicles, including portfolio construction, allocation, diversification, and capital deployment pacing across the lifecycle
• Establish and monitor portfolio frameworks across asset type, geography, risk profile, vintage, and business plan while evaluating concentration, market exposure, liquidity, and risk-return tradeoffs to drive capital allocation decisions aligned with fund objectives and investor mandates.
• Partner cross-functionally to prioritize pipeline, assess strategic fit, and align execution with capital availability and portfolio needs
• Provide portfolio-level evaluation of new investments, including diversification impact, return profile, and alignment with fund strategy

Fund Performance, Asset Oversight, and Business Plan Execution

• Own fund performance evaluation against underwriting, strategy, and investor expectations
• Oversee portfolio-level analysis of operations, development, lease-up, valuations, liquidity, and disposition timing to identify risks and opportunities
• Partner with Asset Management and Development to assess execution and implement actions to optimize returns
• Lead performance attribution across assets, markets, and strategies to inform decision-making

Capital Deployment, Fund Execution, and Lifecycle Management

• Direct capital deployment, including pacing, capital calls, liquidity management, and distribution forecasting
• Monitor performance against fund timelines and proactively address deviations in deployment or returns
• Support lifecycle events such as fundraising, investment periods, recapitalizations, and realizations
• Evaluate portfolio implications of development, financing, and disposition decisions

Investor Reporting, Capital Formation Support, and Stakeholder Communication

• Own investor reporting deliverables, ensuring accuracy, insight, and alignment with performance and strategy
• Translate portfolio performance into clear, compelling narratives for investors and leadership
• Partner with Investor Relations on fundraising, diligence, and ongoing engagement
• Prepare materials for investment committees, leadership, and investor communications

Governance, Risk Management, and Operational Oversight

• Ensure compliance with fund governing documents, investment guidelines, and approval frameworks
• Oversee integrity of portfolio data and reporting outputs
• Drive improvements in portfolio management, reporting, and governance processes

Leadership and Cross-Functional Influence

• Act as a senior leader influencing portfolio strategy, capital deployment, and investor outcomes
• Lead and develop portfolio management team members, ensuring quality and accountability
• Elevate portfolio management practices through analytical rigor and process improvement
• Support the build-out of a scalable, institutional-quality portfolio management function
• Occasional travel may be necessary as needed
• Perform all other duties and tasks as assigned by management
• Must be able to complete all physical requirements of this role with or without a reasonable accommodation

• Bachelor's degree in Finance, Real Estate, Accounting, Economics, or a related field
• 10+ years of progressive experience in real estate investment management, private equity real estate, institutional portfolio management, or a closely related environment
• Significant experience managing or materially influencing closed-end, drawdown fund strategy, portfolio construction, and performance oversight
• Demonstrated success evaluating and communicating portfolio performance through metrics such as IRR, equity multiple, yield, realized and unrealized performance, and performance attribution
• Deep understanding of fund structures, governing documents, waterfalls, capital call and distribution mechanics, liquidity planning, and portfolio-level investment guidelines
• Strong command of portfolio analytics, financial modeling, business plan evaluation, and strategic capital allocation
• Experience working directly with institutional investors and preparing high-quality reporting, diligence materials, and executive presentations
• Proven ability to exercise discretion and independent judgment with respect to portfolio strategy, prioritization, and business recommendations

You'll crush it if you have experience with

• Managing closed-end, drawdown real estate funds across the full lifecycle, including portfolio-level decision-making
• Operating in a senior role within a private equity real estate or institutional investment platform with exposure to institutional investors
• Exercising strong commercial judgment with autonomy, accountability, and discretion on matters of significance
• Synthesizing investment, operating, and market data into clear recommendations that influence portfolio strategy and capital allocation
• Partnering cross-functionally to challenge assumptions, align stakeholders, and drive execution across the platform
• Working within student housing, multifamily, or adjacent sectors with an understanding of operational and development dynamics

Organizational Structure

Reports to: Managing Director, Portfolio Management

Direct Reports: N/A

Please note that job responsibilities, reporting lines, and duties outlined in this job description are subject to change to meet the evolving needs of the organization.

As an Equal Opportunity Employer, Core Spaces celebrates diversity and is committed to creating an equitable and inclusive environment, which creates a sense of belonging for all employees. We do not discriminate and believe every individual should be proud of who they are and the community they represent.

The compensation range listed reflects the base salary or hourly rate that we reasonably and in good faith expect to offer for this role at the time of posting. Actual compensation may vary based on factors such as education, experience, skills, certifications, seniority, geographic location, and business needs.

This role may be eligible for additional forms of compensation, including bonuses, commissions, stipends, or non-cash incentives, depending on position and performance. Benefits may include health insurance, retirement plans, paid time off, and other role-based offerings, subject to eligibility requirements.

All compensation components are subject to change based on business needs or market conditions.