Asset Manager - Affordable Housing

Specialty Consultants Inc.; Washington; Hybrid; USD 90,000 - 140,000; Full time

Job summary

Specialty Consultants Inc. in Washington, DC, seeks an Asset Manager for a national real estate firm focused on affordable housing.

The role supports senior management by implementing asset strategic plans and coordinating with the Development Group and Property Management to ensure performance toward perm conversion. You will oversee budgets, lease-up metrics, and NOI targets, conduct regular site visits, and ensure compliance with lenders and regulators.

Qualifications

• Bachelor’s degree in Real Estate, Finance, or Business; advanced degree a plus.
• Ability to work with development/acquisition teams toward asset stabilization.
• Strong analytical and quantitative financial skills.
• Excellent communication and organizational abilities.

Responsibilities

• Provide strategic direction to 3rd party property management and relocation/lease-up teams to achieve occupancy and NOI projections.
• Lead the property budget process, capital repairs, and year-end interactions with auditors and finance.
• Track monthly financial performance, lease-ups and tax credit progress; identify issues.
• Hold property management accountable for rent collection, occupancy, expenses, and NOI optimization.
• Review closing documents to ensure compliance; coordinate with internal/external parties.

Skills

Analytical skills

Financial analysis

Communication skills

Problem solving

Education

Bachelor’s Degree in Real Estate/Finance/Business

Advanced degree a plus

Tools

Excel

Job description

SCI, the Leader in Real Estate Executive Search®, is seeking an Asset Manager to join a national real estate firm, focused on affordable housing/workforce housing, with a history of transacting on over 20,000 units.

The position will be a key member of the team supporting senior company management by working to ensure that asset strategic business plans are implemented in accordance with company policies. The position will be based in the DC office with a hybrid schedule.

The candidate will play a key role in the oversight and performance of properties that are heading to construction, under renovation, and/or going through lease-up. The candidate’s main role is to work closely with the internal Development Group and external Property Management to make sure that the property is performing as projected prior to perm conversion

Responsibilities

• Responsible to provide strategic direction to 3rd party Property Management Companies, Relocation and Lease-up Teams with the goal of achieving qualified occupancy and NOI’s projections required by the respective local agencies, lenders, investors, and applicable regulations, and other stakeholders
• Lead the overall property budget process, temporary tenant relocation, including capital repair projects, and play a key role during the year-end process with auditors, management companies, and Finance Group
• Responsible for tracking monthly financial performance, lease-ups, tax credit file progress, and identify any potential issues that may adversely impact property operations
• Make Property Management Companies accountable to meet key metrics such as rent collection and occupancy rates, security, operating expenses trends, cash-AP analysis, and maximizing NOI
• Review and understand financial reports, including operating agreements and closing
• Proactively identify issues and trends, and update stakeholders accordingly
• Act as Owner’s Rep on matters related to property fire claims, repairs, tenants’ needs, and anything required to close-out the claim
• Review closing documents (LPAs, Loan Agreements, UW, Operating Agreements, etc.) to make sure property compliance requirements are met and work with internal and external parties to ensure compliance
• Take the lead on assessing room for improvement regarding data management and reporting
• Perform regular site visits to existing properties to assess operations, meet with local officials, and residents

Requirements

• Bachelor’s Degree preferably with a concentration in Real Estate, Finance, or Business. Advanced degree a plus
• Ability to work closely and problem solve with development/acquisition counterparts on directing assets toward stabilization
• Self-motivated and hard-working
• Strong analytical skills and quantitative skills with advanced skills in financial analysis
• Knowledge of corporate finance, accounting, and valuation methodologies
• Proficiency with Microsoft Office suite, with proficiency in Excel
• Highly organized, detail-oriented, motivated, and able to multi-task effectively in a deadline-driven environment
• Excellent oral and written communication skills