Asset Manager - Affordable Housing Investments

Specialty Consultants Inc.; New York (NY); On-site; USD 110,000 - 160,000; Full time

Job summary

SCI, the Leader in Real Estate Executive Search®, has been engaged to recruit an Asset Manager for a national affordable housing investor. You will manage a portfolio of multifamily affordable equity investments and serve as the main contact for general partners and property managers, ensuring performance against budgets and plans.

Reporting to senior leadership and the Board, you will prepare DCF valuations, monitor capital expenditures, and assist with refinancings and fiduciary decisions.

Qualifications

• 3–5 years of real estate experience; affordable housing a plus.
• Asset management, property management, or accounting experience a plus.
• Strong analytical skills; working knowledge of DCF and other real estate finance models.
• Excellent Excel and communication skills.

Responsibilities

• Manage a portfolio of multifamily affordable equity investments and serve as the main contact for general partners and property managers.
• Review monthly property financials against budget and business plan, update annual projections, and report on variances.
• Stay in regular contact with partners and property managers, ensure compliance with operating and management agreements, and escalate issues when needed.
• Track rehabs and capital expenditures against budgets, physical needs studies, and lender requirements, and review and approve bids.
• Catch underperforming properties early and put workout plans in place.
• Prepare DCF valuations and sensitivity analysis to support refinance and buy/sell/hold recommendations.
• Help partners with refinancings and sales, including BOV and appraisal review, market research, lender requests, and legal document review.
• Present portfolio performance to senior leadership and the Board of Directors at least quarterly.
• Visit assigned properties annually and handle special projects as needed.

Skills

Asset management

Real estate analysis

Excel proficiency

Communication

Education

Bachelor’s degree

Tools

Excel advanced

Job description

SCI, the Leader in Real Estate Executive Search® has been retained by a national affordable housing investor — over $3 billion in AUM across 45 states, providing long-term capital for the creation and preservation of affordable housing — to recruit an Asset Manager.

Reporting to the SVP, Equity Asset Management, the Asset Manager will be the main point of contact for general partners and property managers on a portfolio of multifamily affordable equity investments and will be responsible for the portfolio’s performance. Our client invests for the long term, with a focus on stable communities and quality housing for residents. The role reports results directly to senior leadership and the Board.

What you’ll do

• Manage a portfolio of multifamily affordable equity investments and serve as the main contact for general partners and property managers
• Review monthly property financials against budget and business plan, update annual projections, and report on variances
• Stay in regular contact with partners and property managers, make sure they comply with operating and management agreements, and elevate issues when needed
• Track rehabs and capital expenditures against budgets, physical needs studies, and lender requirements, and review and approve bids
• Catch underperforming properties early and put workout plans in place
• Prepare DCF valuations and sensitivity analysis to support refinance and buy/sell/hold recommendations
• Help partners with refinancings and sales, including BOV and appraisal review, market research, lender requests, and legal document review
• Present portfolio performance to senior leadership and the Board of Directors at least quarterly
• Visit assigned properties annually and handle special projects as needed

What you bring

• 3–5 years of real estate experience; affordable housing a plus
• Asset management, property management, or accounting experience a plus
• Strong analytical skills; working knowledge of DCF and other real estate finance models
• Excellent Excel and communication skills
• Bachelor’s degree required; business, economics, real estate, community development, or a related field preferred