Description
Senior Asset Manager | Multifamily Affordable Housing | Southern California
Asset Manager opportunity reporting directly to the VP and Director of Asset Management of a top ranked, nationally recognized Affordable Housing Developer and long-time client of ours. This is one of the fastest growing Affordable Housing Developers in the country, with the financial backing of a major Real Estate Investment Management company that has deep roots in the industry. They have aggressive growth targets, which translates into advancement potential at the pace of your unique skill set and capabilities. Our client is well capitalized with a long-standing, and highly respected reputation in the industry. They have successfully acquired, developed and rehabilitated over 7,000 units of affordable multifamily housing across the country, including some of the largest preservation developments ever completed.
Asset Manager opportunity reporting directly to the VP and Director of Asset Management of a top ranked, nationally recognized Affordable Housing Developer and long-time client of ours. This is one of the fastest growing Affordable Housing Developers in the country, with the financial backing of a major Real Estate Investment Management company that has deep roots in the industry. They have aggressive growth targets, which translates into advancement potential at the pace of your unique skill set and capabilities. Our client is well capitalized with a long-standing, and highly respected reputation in the industry. They have successfully acquired, developed and rehabilitated over 7,000 units of affordable multifamily housing across the country, including some of the largest preservation developments ever completed.
Over the past 2 years we have placed 10 professionals with this growing company, all of who are still there with very positive feedback. The President is one of our favorite clients because of his down to earth personality, level-headed approach, and strategic management style. He nurtures a culture of high performance through empowerment, team collaboration, and fun by hosting unique entertaining team building events and opportunities for growth.
Join the Asset Management team to oversee a portfolio of 30-35 properties; conduct reviews and financial analysis, schedule and execute site visits, and work closely with respective partners and property managers to ensure long-term viability of the asset. Your portfolio would include Tax Credit, HUD, Bond, Home, and Rural Development properties. This is the opportunity to become a significant part of a growing team and excel in a niche industry.
Target Profile
- Experience in the Real Estate industry, ideally in the Multifamily space; Affordable Housing experience is a plus
- Strong financial acumen and knowledge of property analytics, budgets, and operational performance
- Ambitious and hungry professional that will go above and beyond to succeed
- Ability to act in the capacity of a relationship manager, decision maker, and problem solver while utilizing robust financial analytics skills and proactive perspective
- Passionate about expanding their knowledge in the challenging and rewarding niche of Tax Credits/Affordable Housing
- Ability to thrive and succeed in a fast pace environment
- Excellent computer, communication and organizational skills
- Thorough knowledge of Outlook, Excel, Access, and Word
Responsibilities
- Oversee a portfolio of approximately (35) assets, including Tax credit, HUD, Bond, Home and Rural Development properties.
- Work closely with staff to analyze and report on financial performance; monitor budgets (comparing to actuals) and reviewing occupancy levels (rent rolls) as necessary, or in the case of concern properties, on a monthly basis, according to specified benchmarks. Monitor overall operational performance.
- Review and approve annual budgets for reasonableness upon submission by the management companies.
- Review and approve Reserve withdrawals and track the balances in the Reserve accounts.
- Evaluate the management companies’ performance on a quarterly, annual or as needed basis.
- Develop an “Action Plan” in conjunction with the other key partners or property management for concern properties, monitoring effectiveness of the “Action Plan” on a monthly or more frequent basis.
- Conduct all the required site visits. Concern properties must be visited more regularly.
- Review partnership agreements, regulatory agreements, financing documents and other sources to determine financing structures and constraints, as needed.
- Ascertain and work to resolve problems through collaboration with partners, property managers, lenders, and governmental/regulatory entities.
- Analyze monthly, quarterly and year-end financial statements, as needed.
- Review year-end financial audits.
- Conduct annual calculation and collection of the Return-to-Owner (RTO).
- Complete “Special Projects” assignments that are communicated to the AM by the Department.
- Participate in portfolio review discussion within the department, stakeholders or management company.
Additional Opportunities with this Client
Our client is also hiring for additional opportunities in both Project Management and Financial Analysis. Due to their entrepreneurial approach, growth, upward mobility, and focus on strong culture fits, they are flexible on the level that the right person may come in at. Please contact us and learn more.
Our client is also hiring for additional opportunities in both Project Management and Financial Analysis. Due to their entrepreneurial approach, growth, upward mobility, and focus on strong culture fits, they are flexible on the level that the right person may come in at. Please contact us and learn more.
Our Firm
KM Partners is a rapidly growing national Retained Executive Search & Professional Recruitment firm with dedicated practice areas in Tax Credits (LIHTC, NMTC, Historic, & Renewable), Multifamily, Affordable and Senior Housing. We represent C-level Executive Leadership, Middle Management, and experienced Associates from Coast to Coast. We’re selective about our clientele and primarily work with for-profit, top-ranked, small to mid-market, entrepreneurial, dynamic, and forward-thinking shops with great cultures, who are working strategically to develop sustainable housing to revitalize communities.
KM Partners is a rapidly growing national Retained Executive Search & Professional Recruitment firm with dedicated practice areas in Tax Credits (LIHTC, NMTC, Historic, & Renewable), Multifamily, Affordable and Senior Housing. We represent C-level Executive Leadership, Middle Management, and experienced Associates from Coast to Coast. We’re selective about our clientele and primarily work with for-profit, top-ranked, small to mid-market, entrepreneurial, dynamic, and forward-thinking shops with great cultures, who are working strategically to develop sustainable housing to revitalize communities.
We’re Interested in Connecting
Please contact us for an introduction if you’re a top professional within any discipline in our practice areas listed below, whether originations/acquisitions/disposition, development, asset/portfolio management, finance/underwriting/analysis, accounting, funds management, property management, compliance, legal, etc.
Experience
2+ to 5 years
This job is no longer active.