Senior Asset Manager - Affordable Housing

Mercy Housing; Chicago (IL); Hybrid; USD 90,000 - 110,000; Full time

Job summary

An established industry player is seeking a Senior Asset Manager to oversee a diverse portfolio of affordable housing properties. In this pivotal role, you will ensure financial health and long-term viability through strategic management and oversight of budgets, performance metrics, and risk assessments. This position offers the opportunity to make a significant impact in the nonprofit sector, contributing to the mission of redefining affordable housing and enhancing community well-being. With a hybrid work schedule and a focus on professional development, this role is ideal for those passionate about making a difference in the housing landscape.

Benefits

Healthcare plans

15 days PTO

403b + match

Early close Fridays

Paid Parental Leave

Pet Insurance options

Qualifications

• 4+ years of real estate industry experience required.
• Strong analytical skills with attention to detail.

Responsibilities

• Oversee portfolio performance and manage budgets.
• Develop asset management plans for properties.

Skills

Real Estate Management

Financial Analysis

Risk Management

Communication Skills

Project Management

Education

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

Tools

MS Office Suite

YARDI

Job description

Senior Asset Manager - Affordable Housing

Join to apply for the Senior Asset Manager - Affordable Housing role at Mercy Housing

Senior Asset Manager - Affordable Housing

1 day ago Be among the first 25 applicants

Join to apply for the Senior Asset Manager - Affordable Housing role at Mercy Housing

This range is provided by Mercy Housing. Your actual pay will be based on your skills and experience — talk with your recruiter to learn more.

Base pay range

$90,000.00/yr - $110,000.00/yr

At Mercy Housing, we are on a mission to redefine affordable, low-income housing and create a more humane world where communities thrive, and all individuals can realize their full potential. As the largest nonprofit affordable housing provider in the nation, we build, preserve, and manage program-enriched housing across the country.

The Senior Asset Manager is responsible for the oversight of a complex portfolio of muti-family properties. In this role, you will oversee and maintain portfolio(s)’ performance, maintenance, management of budgets and asset business plans, risk mitigation and reporting in order to maximize financial health and long-term viability. Other duties include investor reporting, partnership cash flow calculations, review and monitoring of financial operating statements, risk rating and watch list management, among others.

Strong preference for candidates based in Chicago, IL. This position is eligible for a hybrid work schedule.

• Several Healthcare plans to choose from, dental (includes adult and child orthodontia) and vision
• 15 days of earned PTO your first year, 12 company holidays + 2 floating holidays.
• 403b + match
• Early close Fridays (3 paid hours each Friday)
• Early close prior to a holiday (3 paid hours)
• Paid Time off between Christmas and New Year's Holiday
• Paid Parental Leave and Care Giver Leave
• Paid Life Insurance
• Free Employee Assistance Plan
• Free Basic Dental
• Pet Insurance options

Duties

• Develop a written asset management plan for each property in the portfolio with lead responsibility for workout property plans.
• Participate in the preparation of long-term strategic financial and capital improvements plans for the portfolio.
• Ensure timely submission to investors, lenders, regulatory agencies and others as required of the of financial reports and analysis for the properties in the portfolio.
• Respond to stakeholder inquiries in a reasonable and professional manner.
• Build and maintain owner’s and Mercy’s relationships with local and regional offices of various regulatory agencies that have a stake in the asset’s performance.
• Review annual operating budgets as prepared by Mercy Housing Management Group for portfolio and Real Estate Development staff for new deals.
• Manage property reserves. Prioritize spending based on needs and asset plan.
• Conduct risk rating of properties twice a year.
• Review annual audits and respond to investor inquiries on annual operating financials in a timely and professionally.
• Assist transactions team with implementing workout plans.
• Attend handoff meetings for properties moving from Real Estate Development to Asset Management staff.
• Review Investment Committee Request for Project Approvals and provide comments to SVP of Asset Management and local real estate staff, focus on operating assumptions including income and expenses and the long-term strategic issues of the specific transaction and Mercy’s financial resiliency goals.

Minimum Qualifications

• Bachelor’s Degree in Real Estate, Finance, Business, or related field.
• Four (4) years of real estate industry experience.

Preferred Qualifications

• Experience in affordable housing, USDA RD or multifamily real estate.
• Knowledge of the Low Income Housing Tax Credit Programs and the US Department of Housing and Urban Development.

Knowledge and Skills

• Excellent written, verbal communication and relationship management skills.
• Strong time management and organizational skills with attention to detail and technical project management. Work on several projects at the same time.
• Work with minimal supervision but provide regular updates to supervisor.
• Advanced proficiency in MS Office suite and property management software i.e. YARDI and Excel.

This is a brief description of the position.

Seniority level

• Seniority level

  Mid-Senior level

Employment type

• Employment type

  Full-time

Job function

• Job function

  Finance and Strategy/Planning

• Industries

  Non-profit Organizations

Referrals increase your chances of interviewing at Mercy Housing by 2x

Inferred from the description for this job

Medical insurance

Vision insurance

Paid maternity leave

Paid paternity leave

Disability insurance

401(k)

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