Director of Asset Development & Operations

Fairstead; New York (NY); On-site; USD 170,000 - 200,000; Full time

Job summary

Fairstead seeks a Director of Development Operations to manage a subset of our affordable multifamily portfolio. You will lead asset strategies, perform financial analyses, develop business plans, and collaborate with acquisitions, development, construction, and property management to maximize value and minimize risk.

This role reports to the Senior Director, Development Operations. Travel up to 20% may be required; relocation assistance can be discussed.

Qualifications

• Minimum 8+ years of applicable real estate experience.
• Bachelor’s degree required.
• Prior leadership experience and ability to manage teams.
• Strong communication with lenders and investment partners.
• Experience with multifamily affordable portfolios and asset management.
• Familiarity with Project-Based Section 8 and LIHTC programs.
• Experience with partnership agreements, loan documents, and regulatory agreements.
• Strong financial analysis, budgeting, and financial modeling skills.
• Proficiency in RealPage and Yardi.
• Excellent organization, initiative, and detail orientation.

Responsibilities

• Direct, hands-on management of a portfolio of affordable multifamily assets.
• Conduct financial analyses, budgeting, and modeling of properties.
• Develop and execute business plans for assets and portfolio.
• Analyze variance, market trends, and opportunities to boost performance.
• Collaborate with management companies and third-party managers.
• Assist with high-level reporting metrics and investor updates.
• Prepare information for real estate tax appeals and due diligence.
• Assess portfolio risks and develop contingency plans.
• Present investment strategies and portfolio performance to stakeholders.
• Coordinate with acquisitions, development, construction, and property management.
• Build relationships with investors, lenders, brokers.
• Oversee budgets and monthly variance reports.
• Identify value-add projects and site visits.
• Identify capital transactions and assist in exits.
• Forecast cash flows over hold period.
• Perform special projects as required.

Skills

Financial modeling

Excel proficiency

Analytical skills

Budgeting

Communication

Project management

Leadership

Team collaboration

Attention to detail

Education

Bachelor's degree

Tools

RealPage

Yardi

MS Office

Job description

Fairstead seeks a Director of Development Operations to manage a subset of our affordable multifamily portfolio. You will lead asset strategies, perform financial analyses, develop business plans, and collaborate with acquisitions, development, construction, and property management to maximize value and minimize risk.

This role reports to the Senior Director, Development Operations. Travel up to 20% may be required; relocation assistance can be discussed.