LIHTC Asset Manager – Agoura Hills, CA

AMCAL Housing; Agoura Hills (CA); Hybrid; USD 120,000 - 140,000; Full time

Benefits offered by this job

Annual bonus

Paid Time Off

Hybrid Work Schedule

Monthly Auto and Cell Phone Stipend

Full health coverage

401(k) retirement plan with match

Job summary

AMCAL Housing is seeking an Asset Manager in Agoura Hills, CA. This role involves managing assets within the affordable housing portfolio with responsibilities including financial analysis, project risk assessment, and team collaboration. The ideal candidate has 3-5 years of experience in LIHTC asset management and a strong financial background. The position offers a salary of $120K - $140K, annual bonus, hybrid work options, and comprehensive health benefits.

Qualifications

• 3-5 years of relevant experience in multi-family asset management (GP side).
• Working knowledge of Section 42 (LIHTC) principles and requirements.
• Able to read and interpret complex business documents.

Responsibilities

• Perform review of monthly property financial statements.
• Assess project and partnership risk factors.
• Analyze property performance and market trends.
• Provide operational feedback to teams.
• Support due diligence efforts related to assets.
• Coordinate regular asset calls and site visits.
• Negotiate and monitor contracts for compliance.
• Establish strategies for resolution of claims.

Skills

LIHTC asset management

Financial analysis

Real estate accounting

Contract negotiation

Microsoft Excel

Analytical skills

Communication skills

Presentation skills

Education

Bachelor’s Degree in Real Estate, Finance, or Business

Advanced degree preferred

Tools

Yardi

Real Page

MRI Developer Central

Job description

AMCAL is a $2.5 billion developer, general contractor and owner of diverse residential real estate projects including student, market-rate and affordable housing in California and Texas. AMCAL’s headquarters are located in Agoura Hills with additional offices in West Los Angeles and Farmers Branch, TX. This position is located in Agoura Hills, CA.

Asset Manager

This position reports to the Director of Asset Management and is responsible for the performance of assets in the Company’s affordable housing portfolio. This is an opportunity to join a fast paced team environment with clear opportunities for growth. The ideal candidate has 3-5 years of experience in LIHTC asset management working for a General Partner. Success will be dependent on the candidate’s ability to thrive in an environment that is highly entrepreneurial, strategic and creative which requires rapid learning, multi-tasking and prioritizing under tight deadlines.

Responsibilities:

• Perform review of monthly property financial statements, including analysis of balance sheet, income statement and variance report, to support portfolio performance reporting for senior management, lenders and investors.
• Assess project and partnership risk factors as they pertain to compliance with Section 42 (LIHTC) provisions, terms of the partnership agreement, loan documents, LURAs, QAPs, and tax credit application.
• Analyze property performance, valuation, market trends and operational strengths and weaknesses to inform strategies for maximizing value to the company.
• Provide operational feedback to Construction and Development teams to inform design, leasing, financing and disposition strategies for new development projects.
• Support due diligence efforts related to the acquisition, capitalization and disposition of assets.
• Coordinate regular asset calls and site visits with property management teams to ensure goals and budgets are being met, and if not, determine strategies for corrective action.
• Negotiate and monitor contracts including leases, management agreements, vendor contracts, utility contracts, etc. to protect ownership rights and ensure contract compliance.
• Establish strategies for the resolution of insurance claims and tenant legal proceedings related to non-payment, illegal, and fraudulent activity at the property and/or tenant level.

Qualifications & Skills

• Bachelor’s Degree with a concentration in Real Estate, Finance, or Business preferred
• Advanced degree preferred but not required
• 3-5 years of relevant experience in multi-family asset management (GP side)
• Working knowledge of Section 42 (LIHTC) principles and requirements
• Experience with Yardi/Real Page and MRI Developer Central a big plus
• Strong analytical and quantitative skills with emphasis in financial analysis
• Understanding of real estate accounting principles and financial reporting procedures with ability to analyze variances.
• Able to read, analyze, and interpret complex business documents including leases, financial reports, contracts, loan documents and regulatory agreements.
• Proficiency with Microsoft Office suite. Strong understanding of Excel is a must.
• Able to work proactively, independently and as a strategic partner in a team environment
• Effective presentation and communication skills, both verbal and written
• Annual property inspections required. Approximately 5% travel annually.

Compensation

• $120 – $140K, commensurate with experience
• Annual bonus based on salary and performance
• Three weeks Paid Time Off annually (after 30 days)
• Hybrid Work Schedule Options Available (after 90 days)
• Monthly Auto and Cell Phone Stipend
• Full health coverage and benefits (after 90 days)
• 401(k) retirement plan (after six months) with up to 5% match

Applications

• No phone calls, please
• Please email a cover letter and resume to [e-mail]

AMCAL is an equal opportunity employer.