Senior Asset Manager, Tax Credit Equity
2 months ago
Description
The Senior Asset Manager will assist a team in managing the portfolio of multifamily properties syndicated through the Low-Income Housing Tax Credit "LIHTC" program. The main responsibilities include asset monitoring, financial analysis, risk assessment, and reporting. The Senior Asset Manager will implement proactive strategies to maximize investment benefits. This position requires travel and is ideally suited for an individual with strong analytical, financial, and communication skills.
Requirements
- Review and analyze property operations to evaluate performance and risk factors.
- Prepare quarterly investor reports and risk ratings based on review of financial statements, updated projections, and status reports.
- Proactively identify under-performing assets or property concerns and implement workout strategies to maximize value.
- Monitor construction and lease-up progress through the collection of construction draws, inspection reports, rent rolls, and qualified occupancy reports.
- Collect and analyze audited financial statements and tax returns and benchmark against initial projections.
- Oversee stabilization and loan conversion.
- Maintain post-closing financial models.
- Evaluate management companies’ experience, marketing plans, and compliance strategies prior to closing.
- Develop and maintain strong relationships with general partners, lender representatives, management agents, and local officials.
- Ensure properties are in compliance with the LIHTC program and engage third-party compliance when necessary.
- Facilitate the release of capital contributions.
- Conduct annual property site inspections.
- Provide clear and concise communication to colleagues and clients when required.
Expected Experience, Skills and Education:
- Requires strong analytical skills for reviewing and analyzing financial statements.
- Requires the ability to use Microsoft Office & Outlook.
- Requires strong written and verbal communication with colleagues and clients and the ability to work collaboratively.
- Requires excellent time management and organizational skills and a detailed approach to completing daily tasks.
- 3+ years of relevant professional work experience with an emphasis in LIHTC asset management, and/or real estate development financial management.
- Experience working in MRI Solutions (Investment Central/Integratec) a plus.
- Bachelor’s degree from an accredited institution accepted with 1 to 3 years of relevant professional work experience with an emphasis in financial analysis, asset management, and/or real estate development financial management.
With over 30 years of success built on putting people first, Merchants Capital is a proven leader in financing for multifamily housing nationwide. Our licenses with Fannie Mae, Freddie Mac, and HUD/FHA, in addition to our bank’s balance sheet products, allow us to offer custom solutions with agility and ease of execution, expanding access to housing in meaningful and impactful ways.
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