Senior Asset Manager
1 month ago
Community Development Partners (CDP) is seeking a highly skilled Sr. Asset Manager to join our Portland Asset Management team. In this role, you will lead a growing portfolio of affordable housing communities, ensuring alignment with our mission-based goals.
Key Responsibilities:
- Drive and manage operational and financial performance, understanding all aspects of operations and cash flow for each project within your portfolio.
- Monitor asset performance by collecting, reviewing, analyzing, and reporting on asset financials, including monthly financial reviews, monthly and quarterly portfolio reporting, internal cash flow modeling and forecasting, annual budgeting of revenue, and expenses and capital expenditures.
- Collaborate with Development to ensure alignment and efficiencies that thoughtfully and intentionally manage and mitigate Cap Ex spending.
- Oversee and monitor the achievement of benchmarks such as construction completion, qualified occupancy, stabilization, and permanent loan conversion of LIHTC projects.
- Assist in shaping 3rd party property management policies for the CDP portfolio, while guiding and influencing property management in decision-making based on budgets, cash balances, development processes, and business plans.
- Navigate and negotiate conflicting interests between ownership, operations, and services.
- Partner with our resident services coordinator to ensure resident and community goals and objectives are met.
- Ensure compliance for your portfolio by tracking and overseeing management company filings, including state, lender, and investor reporting, as well as tax exemptions by non-profit partners.
Requirements:
- Bachelor's degree in real estate, finance, economics, or a related field, or equivalent experience.
- Minimum 5 years of hands-on asset management experience, focused on both operations and financials.
- Minimum 4 years of low-income housing tax credit (LIHTC) experience in affordable housing.
- Transactional experience.
- Experience with Limited Partnership agreements, loan documents, regulatory agreements, and other legal documents relating to affordable real estate transactions.
- CHAM or CPM certification, or the willingness and ability to complete certification within 2 years.
- Experience with multi-state asset management preferred.
- Experience with financial modeling and Property Management portfolio management experience are a plus.
- Compliance certification a plus.
- Master's degree in real estate development a plus.
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