Job Description
The Asset Manager I reports to the Director of Asset Management and is primarily responsible for representing the owner/sponsor interests for a portfolio of affordable housing properties owned or sponsored by National CORE. The essential functions of the Asset Manager I position include the following:
Responsibilities: - Monitor asset performance by collecting, reviewing, analyzing, and reporting on asset financials, including quarterly financial reviews, and reporting, internal cash flow modeling and forecasting.
- Prepare projections and strategic recommendations to address issues related to the financial performance of the property, capital planning or operational issues.
- Submit annual welfare tax
- Coordinate communications and manage requests from investors, lenders, agencies, and other
- With support of the Compliance team, monitor compliance requirements and deadlines specific to the deal.
- Oversee third party managed properties to ensure optimal property performance through strict systems and controls.
- Monitor preparation for HUD REAC, MOR or other related inspections ensuring
- Conduct annual site inspections and additional inspections as needed for lease ups, rehabs,
- Participate in the annual budget process, review, and approve draft budget to ensure it aligns with document requirements, stakeholder interests and/or business plan.
- Review annual audits and make recommendations as Prepare annual waterfall.
- Develop reports for Executive Leadership Team, Board of Directors, internal committees, and external agencies as required.
- Initiative-taking collaboration with Cap Ex and Property Management on major capital projects, ensuring alignment and efficiencies through strategic planning, budgeting, and managing/mitigating Cap Ex spending.
- Successfully navigate and negotiate conflicting interests between internal and external
- Identify Watch List properties and works with Property Management personnel to prioritize issues and develop action plans to address them.
- Interact with internal staff (Property Management, Finance, Accounting, Development, Risk Management and Compliance) and external parties (investors, lenders, regulators, auditors) to achieve property goals.
- Onboard newly constructed or acquired properties per the
- Complete the breakeven analysis and work closely with Development, Property Management, auditors, and underwriter through the lease up and conversion to permanent financing
- Monitor capital accounts annually and recommend reallocation of losses as needed to avoid exit taxes or excess equity at the end of the credit period.
- Research the documents and perform all relevant tasks to exit stakeholders such as investors or co-general partners from LIHTC deals. Assist in the negotiation process.
- Assist with identifying properties that are candidates for refinancing, resyndication and other
- Assist with the refinance process and participate in other major capital events or
- Assist in the syndication/resyndication process from application through
- Participate on projects to improve department and interdepartmental
- Other duties as assigned as part of your ongoing training and
Other Responsibilities - 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 Ability to travel required.
Experience: The Asset Manager I should have the following minimal skills:
- One to three 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, Tax Credit, and Conventional financed occupancy related
- Incumbent must have demonstrated a history of exceptional problem solving, critical thinking within a sophisticated operating environment and able to implement rapid turn-around
- Must have well-developed analytical and negotiation
- Be computer literate, with strong spreadsheet and word processing knowledge: MSWord, Excel, Outlook, PowerPoint, internet required. MS Project and Smartsheet experience is helpful.
- TCS, HCCP and CHAM certification preferred, not
Education - Four-year degree, preferably in related field, or comparable industry
- Ability to work flexible
- Valid driver's license, current insurance, vehicle available
PHYSICAL REQUIREMENTS/WORK ENVIRONMENT - Exposure to weather
- Standing, Walking, Sitting
- Driving
- Operate Computer and Office Equipment
FLSA CODE PAY
Job Tags
Permanent employment, Work at office, Flexible hours, Night shift,