REAL ESTATE ASSET MANAGER

Bear Real Estate Group; Milwaukee (WI); On-site; USD 70,000 - 90,000; Full time

Benefits offered by this job

401(k) with company match

Comprehensive medical, dental, vision insurance

Generous paid time off

Ongoing education and training opportunities

Performance-based bonuses and commissions

Job summary

A prominent real estate firm in Milwaukee, WI, is looking for an Asset Manager to oversee multifamily properties, ensuring compliance with HUD and LIHTC standards. This role requires 5+ years of multifamily housing experience and strong financial analysis skills. The Asset Manager will collaborate with third-party management companies, monitor key performance metrics, and communicate with various stakeholders. Competitive benefits, including 401(k) matching and comprehensive insurance options, are offered.

Qualifications

• 5+ years of experience in multifamily housing, specifically in LIHTC and HUD management.
• Knowledge of HUD programs and compliance policies.
• Experience with third-party management oversight.

Responsibilities

• Oversee multifamily properties managed by third-party companies.
• Monitor HUD and LIHTC review outcomes and ensure corrective actions.
• Analyze operating performance against budgets to identify risks.

Skills

Communication skills

Financial analysis

Problem-solving

Team collaboration

Advanced Excel skills

Education

Bachelor’s degree in business, finance, real estate or related field

Tools

Microsoft Excel

Real Page Asset Investment Management

Power BI

Job description

Bear Real Estate Group is seeking a detail-oriented and driven Asset Manager to oversee the performance of our ever expanding portfolio of workforce and market-rate housing developments. This role is a key part of both the asset and finance management teams and will collaborate closely with third-party property management firms responsible for our owned assets.

The Asset Manager will monitor, evaluate, and support portfolio key performance tracking. They will work as a liaison, sharing pertinent information to ownership as well as ensuring 3rd party performance meets expectations and financial metrics. Communication with lenders, investors, the U.S. Department of Housing and Urban Development (“HUD”), contract administrators and owners will be needed. Experience with LIHTC, HUD, Section 42, PBV, RAD, Section 8 and other relevant housing programs or state agencies as required. Expertise in compliance policies are required with the ability to regulate or enforce compliance as needed as the Asset Manager is accountable for identifying risks, tracking inspections and audits and ensuring assets perform to investment and regulatory standards.

Duties and Responsibilities

• Serve as Owners representative for all multifamily properties that are manages by third-party property management companies. This property set includes properties that have HUD involvement by way of Section 8 housing assistance payment (“HAP”) contracts (i.e. RAD, PBRA, RAB PBV, project based Section 8) as well as state housing agency oversight through the low income tax credit (“LIHTC”) program.
• Monitor outcomes of HUD and LIHTC reviews (e.g. MORs, NSPIRE inspections, and HUD/CA audits); ensure corrective actions are completed by management agents
• Track and monitor all Section 8 HAP contracts for annual renewals to ensure timely action.
• Oversee annual rent adjustment processes for Section 8 HAP contracts, ensuring the property management companies follow HUD protocols for rent increases, utility analyses, and utility allowance implementation.
• Analyze operating performance versus approved operating budgets to identify risks or variances and elevate concerns.
• Collaborate with ownership and investors on HUD and LIHTC compliance and performance updates.
• Oversee replacement reserve funding, replacement planning, and capital expenditure needs across sites.
• Develop performance benchmarks and hold management companies accountable through scorecards, KPIs, and contract reviews.
• Provide recommendations to ownership regarding property management company contract renewals, corrective actions, and performance issues.
• Evaluate key performance indicators (KPIs), including occupancy, rent growth, expense control, and delinquency.
• Benchmark performance against internal portfolios and industry standards.

Qualifications

• Ability to work collaboratively and independently on multiple projects.
• Excellent interpersonal, written, and oral communication skills.
• Ability to solve practical and complex problems by utilizing internal and external resources.
• Advanced skills in Microsoft Excel and Real Page Asset Investment Management, Power Business Intelligence, or Revenue Management is a plus.
• Bachelor’s degree in business, finance, real estate, or related field.
• 5+ years of experience in multifamily housing, with specific experience in LIHTC and HUD multifamily housing asset management.
• Knowledge of HUD 4350.3, RAD PBRA/PBV, Section 8 programs, MORs, NSPIRE inspections, and HUD contract management (HAP/CHAP, rent adjustments, OCAF).
• Experience overseeing or working with third-party management companies.
• Strong financial analysis, reporting, and communication skills.
• COS, HCCP, CPM, BOMS or similar industry certifications preferred.

What You’ll Love About Working Here

• Invest in Your Future:401(k) with company match, plus annual merit-based increases
• Prioritize Your Health: Comprehensive medical, dental, vision, life insurance, Long-Term Disability, and FSA and HSA options.
• Recharge and Renew: Generous paid time off and 8+ paid holidays.
• Voluntary Benefits: Short Term Disability, Accident, Critical Illness, and Hospital Indemnity.
• Keep Growing: Ongoing education, leadership training, and advancement opportunities across all departments.
• Celebrate Together: Annual employee appreciation events, team outings, and company-wide recognition programs.
• Make an Impact: Contribute to meaningful projects that shape neighborhoods and improve lives.
• Be Rewarded: Eligible for performance-based bonuses and commissions

The above is intended to describe the general content of and requirements for the performance of this job. It is not to be construed as an exhaustive statement of duties, responsibilities or physical requirements. Nothing in this job description restricts management’s right to assign or reassign duties and responsibilities to this job at any time. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Bear Real Estate Group is proud to be an Equal Employment Opportunity and Aff…[the rest of the legal EEO statement]

Seniority level

Mid-Senior level

Employment type

Full-time

Job function

Finance and Sales

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