Senior Asset Manager

20/20 Foresight Executive Talent Solutions; New York (NY); On-site; USD 140,000 - 190,000; Full time

Job summary

Client is seeking a Senior Asset Management Analyst to ensure the portfolio meets financial, social, and environmental goals. You will draft and update the property business plan, review monthly financials, and report to investors and the executive team.

You will advise on budgeting, capex, leasing, and marketing, with responsibility to drive value across the portfolio. You will lead a team, mentor staff, and contribute to department growth while representing the company externally and advancing

Qualifications

• Bachelor’s Degree in Finance, Business, Real Estate or related discipline required.
• Master’s Degree in Engineering, Business or Real Estate preferred.
• Broker’s License preferred.
• 6+ years of experience in asset management of affordable housing financed with Low Income Housing Tax Credits required.

Responsibilities

• Provides financial oversight of the property in context of the overall portfolio, including drafting the initial business plan and 5-year capex plans.
• Reviews budget performance and reports to investors and executive team.
• Leads property management budgeting, capital planning, leasing and marketing decisions.
• Directs refinancing and disposition of properties and engages third parties as needed.
• Mentors and leads a team of asset management professionals.
• Supports meetings with MD, CFO and COO and handles special projects including HUD issues and state tax matters.

Skills

Asset management

Team leadership

Financial analysis

Education

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

Master’s Degree in Engineering, Business or Real Estate

Broker’s License

Job description

Our client is one of the country’s leading developers, investors, and owners of green, affordable, and mixed-income multifamily housing and has a vertically integrated platform encompassing acquisitions, development, asset management, construction management, and property management. In addition to having nearly $4.0 billion of assets under management, the firm is a SEC registered investment advisor with 15 years of fund management experience. The firm has long been a thought leader in the field, advancing affordable environmental strategies, and integrating health, education, and social services into its communities.

The company was founded over 30 years ago, has 9 regional offices across the US, and has been recognized for design excellence and for creating successful models that enhance the ability of its residents, and the communities they live in, to thrive. The firm’s innovative work has won awards from a wide range of notable organizations, including the Urban Land Institute, the National Trust for Historic Preservation, the American Planning Association, the American Institute of Architects, and many others.

Position

The Senior Asset Management Analyst is responsible for ensuring that the properties and its respective portfolio meet financial, social and environmental goals. Drafts the property business plan based on the initial acquisition goals and updates the plan no less than annually to reflect property performance and market conditions. Reviews property financials with property management monthly and reports quarterly to investors and / or executive team. Advises the property manager on all aspects of the properties including annual budgeting, capital improvement planning, physical property conditions, leasing and marketing. Overall purpose is to create value across the overall portfolio while providing quality, green housing for our residents. Thinks and Act like an Owner. Thinks strategically and assesses business decisions specific to the properties as well as wholistically across the portfolio. Appropriately weighs short terms decisions with longer term goals. Takes initiative to seek new responsibilities.

In addition, this person will be responsible for leading a team and helping to build a department. They will directly manage an asset manager and analyst, and have the opportunity to grow into a more impactful role in the future.

Responsibilities

FINANCIAL REPORTING, MODELING & ANALYSIS

• Provides financial oversight of the property in context of the overall portfolio, including drafting the initial business plan, provide guidance on operating budgets and 5-year capex plans to meet or exceed business plan goals, monitoring the monthly financials to assess performance against budget.
• Acts swiftly to address budget variances.
• Fully understands the economics of a deal and continuously seeks to optimize value. Prepares and updates financial models and valuation analyses to reflect current performance and assumptions throughout asset’s lifecycle to support decision-making and strategic recommendations.
• Drafts timely, detailed and accurate reporting by synthesizing relevant information and extracting data from several sources for both internal use and external investor reporting on a quarterly and annual basis. Meets or exceeds all deadlines.
• Produces effective and accurate reporting that requires only strategic input from Managing Director.
• Monitors the leasing and marketing of the property.
• Provides guidance to property management on occupancy issues and advises on changes to rental rates and offered concessions.
• Tracks and executes programmatic renewals, mark ups and compliance.
• Leads the refinancing and disposition of properties and is responsible for the successful completion of the transaction.
• Drafts sales /refinance analyses in conjunction with the asset management analyst and is responsible for making the recommendation to the investment committee.
• Takes the lead on identifying lenders, brokers or other third parties required in the transaction and takes the lead on related communication.

LEADERSHIP

• Direct Management for a team of asset management professional
• Contributes to the Asset Management team as a whole by providing mentorship to other team members, leads and completes portfolio, team and/or organizational initiatives that result in widespread positive results.
• Represents the company well publicly, embraces its mission and effectively communicates to the communities in which we develop and within the real estate industry.

CASH FLOW

• Analyzes and distributes cash flow from the properties through the partnership waterfalls on an annual or semiannual need, including special distributions relating to capital transactions for refinancing, sale and other.

PROPERTY OPERATIONS

• Advises property operations on all aspects of the properties including annual budgeting, capital improvement planning, physical property conditions, leasing, and marketing.
• Visits stabilized properties in coordination with the Director of Asset Management on a group rotational basis.

IMPACT

• Coordinates with sustainability team to analyze and continuously improve environmental performance.
• Maintains responsibility for the operating expenses of the property.
• Coordinates with Community of Opportunity team to encourage and support optimal social programming.
• Embraces and values the company mission.

MEETINGS & SPECIAL PROJECTS

• Attends meetings and provide support to the Senior Director of Asset Management, CFO and COO as needed.
• Assists with special projects as requested, including but not limited to working through HUD issues (2530's, DEC and other), researching partnership documents, real estate taxes (PILOT), legal activities and handling various state tax issues.

Qualifications

• Bachelor’s Degree in Finance, Business, Real Estate or other related discipline required.
• Master’s Degree in Engineering, Business or Real Estate preferred.
• Broker’s License preferred.
• 6+ years of experience in asset management of affordable housing financed with Low Income Housing Tax Credits required.

Personal Skills & Attributes

• Collaborates: Building partnerships and working collaboratively with others to meet shared objectives.
• Communicates Effectively: Developing and delivering clear verbal and written forms of communication tailored to the needs of specific audiences or occasions.
• Cultivates Innovation: Creating new and better ways for the organization to continuously improve and achieve success.
• Ensures Accountability: Holding self and others accountable to meet commitments.
• Instills Trust: Gaining the confidence and trust of others through honesty, integrity, and authenticity.
• Situational Adaptability: Adapting approach and demeanor in real time to match shifting demands of different situations.
• Live and demonstrate the core values (100%)