Our client is a nonprofit affordable housing developer the believes it's work is not about bricks and mortar, but rather creating healthy communities that thrive and prosper.

They support families and seniors by providing housing communities that are affordable, safe, and of the highest quality. They also enhance neighborhood stability through long-term management and maintenance, as well as industry-leading services such as senior wellness, preschool and afterschool programs, and family financial training.

The Asset Manager reports to the Sr. Asset Manager and is primarily responsible for representing the owner/sponsor interests for a portfolio of affordable housing properties. The essential functions of the Asset Manager position include the following:

RESPONSIBILITIES

• Review operating statements monthly.

• Monitor program compliance specific to the deal.
• Provide portfolio reporting and strategic recommendations to address issues related to the financial performance of the property, capital planning or operational issues.
• Conduct periodic site inspections.
• Identify Watch List properties and work with Property Management personnel to prioritize issues and develop action plans to address them.
• Prepare projections and work to increase cash generated from operations for payment of sponsor debt, fees and cash flow distributions.
• Identify properties that are candidates for refinancing, resyndication and other restructuring.
• Analyze long-term property performance against projections.
• Monitor report distribution to see that all requirements are met with the external stakeholders.
• Approve annual property budgets.
• Review annual audit for portfolio.
• Interact with internal staff (Property Management, Finance, Accounting, Development, Risk Management and Compliance) and external parties (investors, lenders, regulators, auditors) to achieve property goals.
• Participate in due diligence and review proformas of prospective deals to assess deal viability.
• Participate in the transition process when a property is moving from Development to stabilized operations.
• Work independently and continues to increase industry knowledge.
• Participate on projects to improve department and interdepartmental processes.
• Attend Company sponsored events that relate to the development of the team, which, from time to time, may include overnight stays at locations away from the employee’s home.
• Ability to work flexible hours. Ability to travel is required.

• Must possess a valid driver’s license, current automobile insurance and reliable form of transportation.
• Other duties as assigned.

 

EXPERIENCE

• Four-year degree, preferably in related field, or comparable industry experience.
• Three to four years in asset management or related areas of real estate or affordable housing which; may include development, investment, property management, acquisitions/dispositions.
• Must have knowledge of regulatory programs, the housing industry, marketing, physical asset management, and working knowledge of multi-family and senior communities.
• Must be familiar with HUD, Bond, Tax Credit, and Conventional financed occupancy related programs.
• Incumbent must have demonstrated track record of exceptional problem solving within a sophisticated operating environment and able to implement rapid turn-around plans.
• Possess well-developed analytical and negotiation skills.
• Must be computer literate, with strong spreadsheet and word processing knowledge: MS Word, Excel, Outlook, internet required. MS Project is helpful.