Asset Manager, Transactions

1 month ago

Los Angeles CA United States Enterprise Community Partners Full time
Enterprise is a national nonprofit that exists to make a good home possible for the millions of families without one. We support community development organizations on the ground, aggregate and invest capital for impact, advance housing policy at every level of government, and build and manage communities ourselves. Since 1982, we have invested $72 billion and created 1 million homes across all 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands - all to make home and community places of pride, power and belonging.Join us at enterprisecommunity.orgWorking at EnterpriseAt Enterprise, you'll be part of a diverse, committed team making a difference every day. You will collaborate with some of the smartest minds and biggest hearts in our field. You'll be empowered to drive systems change and take bold steps to advance racial equity. And you will find a career home where you're valued and supported in your growth journey.Enterprise offers career opportunities in our with an.Job Description SummaryThe Asset Manager, Transactions position exists to support the execution of transactions critical to the overall performance of the growing Real Estate Equity (REE) portfolio. This position will be a critical part of the REE Asset Management team, providing in-depth post-closing analysis required to execute on property level refinancings, partnership restructures, follow-on investments, dispositions and other aspects of investment analysis and forecasting. The Asset Manager, Transactions will also manage the lower tier quarter cash distribution process, and work closely with the Vice President, Asset Management & Investor Relations and the rest of the Asset Management team to leverage and improve existing resources in support of transactions and portfolio analysis and will also be assigned special projects on an as needed basis. This position will work with external and internal customers and must have strong analytical, problem-solving, organizational and communication skills.Job DescriptionResponsibilities:
  • Refinancings - Review and evaluate refinance opportunities by modeling various options presented and identifying opportunities where refinancing should be considered, working closely with the REE Asset Manager and Sponsor to ensure accuracy of information and alignment with underwriting. Provide recommendations and manage internal refinance process through closing.
  • Restructures & Follow-on Investments - Review property operational trends, working closely with REE Asset Manager and Sponsor to ensure accuracy of information and requesting any additional reporting necessary (e.g., cash collection reporting) in order to reproject future operations based on informed and recommended assumptions. Provide internal recommendations and facilitate all aspects of restructure and/or follow-on investment through closing.
  • Dispositions - Review and evaluate disposition opportunities by modeling various options presented, including hold/sell analysis, review and comparison of Sponsor and broker underwriting, working closely with the REE Asset Manager and Sponsor to ensure accuracy of information. Review joint venture LPAs to confirm Right of First Refusal, Put/Sale options, disposition proceeds waterfalls and other applicable provisions. Provide internal recommendations and manage internal disposition process through closing.
  • Lower Tier Cash Distributions - Provide a leadership role managing the quarterly cash distribution process, including leading the communication with Sponsors each quarter, tracking the receipt of cash available for distribution calculations, reviewing those calculations for accuracy, updating Enterprise's lower tier transaction models, providing feedback and recommendations to Senior Management and the REE Asset Manager for discussion to determine if the distribution can be approved or if more information is required of the Sponsor or if Enterprise has further recommendations. See the process through ultimate approval of each lower tier distribution receipt of funds.
  • Assist in the preparation and assessment of REE's annual property valuations to support strategic decision making, investor reporting and evaluate REE's equity and financing exposure across REE's portfolio and potential property disposition opportunities.
  • Track Real Estate Tax and Insurance cost / trends across portfolio by researching, updating and maintaining Real Estate Tax Analysis files and Insurance Renewal Cost files, providing ongoing conclusions and recommendations to Senior Management.
  • Manage annual Affordability Summaries by updating annually with AMIs and UAs, distributing to Sponsors seeing through to completion, and compiling the data for annual reporting purposes.
  • Participate in and contribute to group meetings and discussions.
  • Perform special projects and other duties as assigned.Qualifications:
    • Bachelor's degree or equivalent required, preferably in Business Management, Accounting, Finance or related field. Master's degree in real estate, MBA or CPA preferred.
    • 5-7+ years multi-family real estate, finance, accounting, and/or asset management experience.
    • Strong analytical skills. Ability to read, interpret, and analyze financial statements. Ability to develop and perform financial projections, forecasts and stress analyses.
    • Ability to read, interpret, and analyze complex real estate project documentation including partnership agreements, regulatory agreements, and loan documents.
    • Sound understanding of real estate terminology and concepts, including multi-family real estate; working knowledge of LIHTC required.
    • Familiarity with private financing and government funding sources.
    • Strong organizational skills and ability to coordinate complex activities, prioritize conflicting demands and meet deadlines.
    • Strong verbal communication and business writing skills.
    • Ability to work independently with limited supervision.
    • Strong computer skills with excellent MS Excel skills.
    • Must possess strong written and oral communication skills.
    • Highly motivated and able to work independently.
    • Must demonstrate strong ethics in interpersonal relations and work as an effective, collaborative team member to produce high-quality results.
    • Able to travel as necessary to accomplish the goals for the position.Total Rewards at Enterprise:You will be working with a group of talented professionals who are motivated by serving the community and addressing the need for affordable housing.Enterprise offers a comprehensive total rewards package for you and your family.The base salary for this role is $110,000 to $125,000, depending on level of skills and experience.The salary range for this position is represented by the low and high end of the range for the amount to be paid for the position. Salaries paid at Enterprise will vary based on factors that may include skills, education, location, experience, and performance. The salary range is just a part of the total rewards package provided to employees at Enterprise, and other rewards may include annual performance bonuses and generous paid leave programs.At Enterprise, our benefits form a major component of our total rewards package. Benefits include dental, health, and vision care plans, as well as family-building benefits, such as fertility, adoption, surrogacy support, and gender-affirming care. Enterprise allows flexible work arrangements to promote a better work-life balance. We offer health advocacy, EAP, and mental health benefits. We round out our total rewards package by offering financial education, wellness programs, and auto-enrollment in the company's 401(k) plan with employer matching contributions. Finally, you will have learning and development opportunities, including tuition reimbursement for job-related courses and certifications. Thank you for your interest in joining the Enterprise team in our effort and commitment to serve others.#LI-JW1 #ID

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