Real Estate Portfolio Manager

9 hours ago

Albany, New York, United States RBC Community Investments, LLC Full time
Job Opportunity:
RBC Community Investments, LLC is seeking a skilled Real Estate Portfolio Manager to join our team.

As a key member of our Asset Management team, you will be responsible for maintaining a portfolio of real estate assets invested through the Section 42 (LIHTC) affordable housing tax credit program and/or the historic tax credit program.

Your primary objective will be to ensure the continuous delivery of tax credit benefits and passive losses.

Key responsibilities include:

Assessing project and partnership risk factors as they pertain to compliance with Section 42 (LIHTC) provisions, terms of partnership agreement, loan documents, LURAs, QAPs, and tax credit application.
Calculating annual tax credit amount from final cost certification and 8609s and calculating first year credit delivery from actual lease-up figures.
Managing the disbursement of equity for the assigned portfolio.
Providing oversight of project by analyzing performance data on a monthly, quarterly, or annual basis as applicable.
Completing annual property inspections or more frequently as needed.
Expediting the receipt of financial and operational information from the lower tier partnerships on a monthly, quarterly and annual basis.
Initiating communication with General Partners to ensure timely submission of tax returns and audits.
Reviewing the annual operating budget for each property in the assigned portfolio.
Communicating issues that may place a project at risk to appropriate leadership in Asset Management, and developing an action plan that will help mitigate the risk and protect the investment.
Assisting with the disposition of assets at the end of the affordable housing tax credit period or other dissolution event.
Participating in team initiatives.
Maintaining a thorough and up-to-date record of property activity and document management in the database.
Maintaining familiarity with regional and local economic and demographic trends within portfolio markets.
Developing and maintaining relationships with General Partners, management agents, lenders, contractors, third-party monitors, investors, local and state housing agencies, and others in the LIHTC industry.

Requirements:
Bachelor's Degree and five years' experience in real estate, accounting, finance, or property management.
Key skills include real estate concepts, financial analysis, and strong organization and prioritization.
A strong interest in real estate investment and/or affordable housing.
Proficiency in MS-Outlook and MS-Office applications.
Excellent verbal and written communication skills.
Prior experience as a LIHTC Asset Manager is highly preferred.

What's in it for you?
We offer a comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation, commissions, and stock where applicable.
Leaders who support your development through coaching and managing opportunities.
Ability to make a difference and lasting impact.
Work in a dynamic, collaborative, progressive, and high-performing team.
Opportunities to do challenging work.
Opportunities to build close relationships with clients.

Job Skills:
Communication, Critical Thinking, Customer Service, Detail-Oriented, Industry Knowledge, Information Capture, Investment Banking, Negotiation, Product Services, Teamwork

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