Job Openings » Assistant Asset Manager

Assistant Asset Manager

Remote, CA
by SoCal Search Group

Management

Job Description

This company is a growing privately held real estate development and portfolio management firm. The firm includes an established and growing real estate investment platform focused on the acquisition, development and on-going asset management of a multi-family affordable housing portfolio made up of complex limited partnership interests. This company is a professional firm headquartered in Seattle and a regional office in NYC.

POSITION SUMMARY
Reporting to the Director – Asset Management, the Assistant Asset Manager will manage a portfolio of affordable housing communities as the go-to contact for all aspects of property operations and partnership compliance. Specific duties include ownership and analysis of property operations against model and budget for assigned portfolio to maximize net operating income, oversight of third-party property management agents, cash forecasting and waterfall distributions, and regular financial and compliance reporting. The Assistant Asset Manager must ensure that companys’ financial investments are protected and all assets maintained in a decent, safe, and sanitary condition and that the provisions of all loan documents, regulatory agreements, and other project documents are followed.

At the company, you will grow in knowledge of the affordable housing industry. You will collaborate with third-parties from an array of backgrounds including property management, lending institutions, housing authorities, the insurance industry, real estate professionals, technology providers, and law firms. You will use your writing ability and verbal charisma to effectively communicate across a vast assemblage of personalities, keeping companys’ priorities front and center while building relationships to foster companys’ growth.

SPECIFIC RESPONSIBILITIES
· Financial and physical plant ownership oversight of assigned property portfolio including HUD Section 8, Section 42 LIHTC, and USDA Rural Development multi-family and senior affordable housing communities.
· Build and manage strong relationships with joint venture and investment partners, lenders, housing authorities, property management, and other internal and external stake holders.
· Direct, hire, onboard and terminate third party property management agents to improve property operations, ensure financial objectives are met, and consolidate portfolios under strongest operators.
· Operations and capital expenditure budgeting.
· Bi-annual distributions for ownership and investor partners.·
 Cash flow forecasting and quarterly operational reporting and analysis for development directors and corporate finance.
· Audit and tax return coordination and review for limited partnership entities with certified public accounting firms and corporate finance.
· Acquisition rehabilitation initial tenant certification oversight.
· Construction rehabilitation coordination with construction team and property management.
· Coordination of social impact projects as assigned.
· Onsite property inspections for assigned portfolio.
· Maintain project compliance through review and interpretation of partnership agreements, third-party contracts, and financing documents.
· Other duties and projects as assigned.
· Grow your understanding of HUD Section 8, Section 42 LIHTC, affordable housing structures, partnership financing, low-income compliance, and other matters related to the acquisition, development, and long-term management of the company as an affordable housing developer/owner.
· Support and back-up administrative related tasks for Asset Management Coordinator.
· Travel will be required (site visits, conferences, etc.).

Job Requirement

SPECIFIC EDUCATION, KNOWLEDGE, AND SKILLS REQUIRED
· Bachelor's degree or equivalent work experience is required, preferably in Finance or related field.
· Knowledge of real estate terminology and concepts and good financial analysis skills.
· Strong computer skills, thorough knowledge of Outlook, Excel, and Word.
· Strong organizational skills and ability to coordinate complex activities, prioritize conflicting demands and meet deadlines.
· Must be highly motivated, and able to work independently, solve problems and possess strong written and oral communication skills.
· Ability to demonstrate strong ethics in interpersonal relations and work as an effective, collaborative team member.
· Ability to work in a fast-paced environment with multiple priorities.
· Position requires remote work and office visits to Seattle.
· Position requires travel to conduct physical inspections of sites and attend conferences.

PREFERRED
· Knowledge of real estate terminology and concepts and good financial analysis skills.
· Familiarity with Yardi Voyager and/or other accounting platforms.
· Must be highly motivated, and able to work independently, solve problems and possess strong written and oral communication skills.
· Affordable housing, real estate, finance and/or property management experience.
· Working knowledge of Section 42 and HUD regulations/programs and regulatory agreements.
· Position will require remote work and office visits to Seattle.
· May require travel to conduct physical inspections of sites or attend conferences.