Job Openings » Senior Asset Manager

Senior Asset Manager

Remote, CA
by SoCal Search Group


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. Company is headquartered in Seattle and has a regional office in NYC.

Reporting to the Director – Asset Management, the Senior 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 to maximize net operating income, oversight of third-party property management agents, cash forecasting and waterfall distributions, and regular financial and compliance reporting. The Senior Asset Manager must ensure that companys’ financial investments are protected, that all assets are maintained in a sufficient, 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 your knowledge of real estate and collaborate with a vast array of partners in the affordable housing industry.

· Financial and physical plant ownership oversight of assigned 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 stakeholders.
· 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.
· Ongoing operations and capital expenditure budgeting.
· Bi-annual distributions for ownership and investor partners.
· Monthly cash flow forecasting and quarterly operational reporting and analysis.
· Annual audit and tax return coordination and review for limited partnership entities.
· Recurrent oversight of first year tax credit qualification process.
· Ongoing construction rehabilitation coordination with construction team and property management.
· Onsite property inspections for assigned portfolio.
· Ownership of project compliance through review and interpretation of partnership agreements, third-party contracts, and financing documents.
· Manage property and general liability insurance claims of assigned portfolio.
· Other duties and projects as assigned.

Job Requirement

· Bachelor's degree required.
· Minimum three years’ experience in affordable housing.
· Working knowledge of Section 42 and HUD regulations/programs and regulatory agreements.
· Knowledge of real estate terminology and concepts and good financial analysis skills.
· Strong computer skills, including knowledge of Outlook, Excel, and Word.
· Must be highly motivated, and able to work independently and solve problems.
· Thrive in a fast-paced environment with multiple priorities.
· Highly proficient oral and written communication skills.
· Strong organizational skills and ability to coordinate complex activities, prioritize conflicting demands and meet deadlines.
· Work remotely and participate in quarterly office visits to Seattle.
· Annual or more frequent travel to conduct physical inspections of assigned communities and attend conferences.

· Familiarity with Yardi Voyager and/or other accounting platforms.