Multi Family Asset Manager

SCG DEVELOPMENT; Washington (District of Columbia); On-site; USD 90,000 - 150,000; Full time

Job summary

SCG Development seeks an Asset Manager to oversee a portfolio of LIHTC affordable housing assets, ensuring tax credit delivery and investment performance from its Tysons, VA headquarters. The role requires strong financial and analytical skills in a dynamic team environment.

The ideal candidate has 3–5 years in real estate, experience with LIHTC or similar tax-advantaged investments, and proficiency in MS Office along with outstanding communication abilities.

Qualifications

• 3 to 5 years of relevant real estate experience required.
• LIHTC asset manager experience preferred or strong substitute with analytics.
• Strong analytical skills and quick learning ability.
• Proficiency in MS Office and excellent communication skills.

Responsibilities

• Oversee and guide property performance to preserve investment value and maximize revenue.
• Identify and analyze issues, and implement action plans to mitigate risk and protect the investment.
• Develop and maintain relationships with partners, lenders, contractors, accountants, and consultants to ensure information flow.
• Assess risk factors and ensure compliance with LIHTC provisions and partnership agreements.
• Coordinate with management on annual budgets and monitor income/expense trends.
• Review and analyze annual financial statements, tax returns, and projections for conformance to agreements.
• Monitor construction and lease-up progress and assess impact on loan and investment performance.
• Perform site inspections and stay abreast of local economic/demographic trends.

Skills

LIHTC asset management

Financial analysis

Real estate investment

MS Office

Verbal and written communication

Education

BS/BA in Finance or Real Estate or related field

Job description

SCG Development (“SCGDP”) is seeking candidates for an Asset Manager position. The Asset Manager is responsible for managing a portfolio of multi-family real estate assets comprised largely of rental apartment properties acquired through the Section 42 LIHTC affordable housing tax credit program to ensure the unabated delivery of low-income housing tax credits and tax losses to the investment fund and, ultimately, the investor limited partner. The position will be based in SCGDP's headquarters in Tysons, VA, approximately 14 miles west of Washington, DC.We are seeking a motivated individual who possesses strong financial and analytical skills that will excel in a dynamic, entrepreneurial, team-based environment.

Desired Skills & Experience

Job Responsibilities

• Oversee and guide property performance to preserve investment value and maximize revenue.Ensure the continuous delivery of pro forma investment benefits (tax credits & passive losses); as well as NOI and cash flow.
• Identify and analyze issues, as well as recommend and execute action plans that will help mitigate the risk and protect the investment.
• Develop and maintain relationships with co-development partners, management agents, lenders, contractors, accountants, third-party consultants, and others to ensure the flow of current and relevant information.
• Assess project and partnership risk factors and mitigate as necessary including: compliance with Section 42 (LIHTC) provisions, terms of partnership agreement, loan documents, operational/performance benchmarks, and financial performance.
• Complete required monthly, quarterly and annual reporting activities including: monthly and quarterly operating performance and risk rating reviews (in accordance with AHIC standards).
• Ensure timely submission and review of partnership tax returns and audits each year by confirming the early engagement of CPA firm and tracking the status of progress.Review and analyze audited financial statements and tax returns and compare to original projections.Ensure conformance to investment and partnership agreements.
• Coordinate with property management in the preparation and review of annual property operating budgets.Evaluate for new trends in income and expense categories and prepare budget reporting for senior management.
• Monitor construction and lease-up progress.Review monthly construction draws, change orders, architect and inspector reports, construction schedules, leasing and traffic reports.Identify, communicate and resolve potential issues; as well as determine potential impact on permanent loan conversion, sources of funds, and overall investment performance.
• Perform property site inspections as needed for early identification of potential issues.Maintain familiarity with regional and local economic and demographic trends within portfolio markets.Generate site visit reports and follow-up on findings.Evaluate physical condition of assets and determine future capital needs.
• Communicate issues that may place a project at risk to appropriate leadership. Recommend the implementation of strategies to resolve operational, financial, and compliance related difficulties within the portfolio.
• Maintain current and thorough records of all property/partnership activity (and document management) in the proprietary asset management database to maintain the integrity of system.
• Process capital calls in conjunction with the investor limited partner and co-development partners.Ensure required performance benchmarks are achieved and the requisite documentation is provided (in accordance to partnership agreement).

Qualifications and Skills

• BS/BA in Finance, Real Estate, or related field.
• 3 to 5 years of relevant real estate experience required.
• Prior experience as a LIHTC Asset Manager or Senior Analyst is highly preferred. Strong analytical skills and proven quick learning ability may substitute.
• Essential skills include: familiarity Section 42 and affordable housing, partnership taxation and accounting, as well as real estate investment/financial analysis.Strong organizational skills and an attention to detail are essential.
• Proficiency in MS Office applications and excellent verbal and written communication skills are essential.
• Self-motivated with the ability to take ownership of responsibilities, exercise sound judgment, and execute tasks independently, while maintaining strong collaboration and communication within a cross-functional team environment is essential.