Special Asset Manager

Cinnaire; Chicago (IL); On-site; USD 90,000 - 150,000; Full time

Benefits offered by this job

Medical benefits

403(b) Plan

Profit-sharing

Paid time off

Job summary

Cinnaire is seeking a Special Asset Manager to oversee a portfolio of real estate investments on the watchlist or in decline, focusing on preserving value, ensuring compliance with regulatory and partnership agreements, and implementing targeted strategies to improve performance.

This role requires strong analytical and communication skills, with experience in real estate finance and cross-functional coordination with investors, developers, and regulators.

Qualifications

• Bachelor’s degree required in a related field.
• Minimum of 2 years of experience in real estate development, finance, rent-restricted multifamily assets, property management, or related disciplines.
• Understanding of LIHTC regulations and affordable housing programs preferred.
• Strong analytical, organizational, and communication skills.

Responsibilities

• Ensure optimal performance and compliance of stabilized properties and equity investments, while proactively managing financial and operational risks.
• Assess underperforming assets, develop and implement recovery strategies, and guide decisions on watchlist status through performance analysis and site evaluations.
• Facilitate clear, consistent communication with internal and external stakeholders, deliver timely performance insights, and support data integrity for informed decision-making.
• Align funding strategies and resource deployment with asset stabilization goals through cross-functional collaboration and oversight of capital activity.
• Cultivate partnerships with investors, developers, agencies, and other key stakeholders to support asset performance and organizational objectives.
• Engage in industry learning and contribute to process improvement and organizational initiatives to advance departmental excellence.

Skills

Finance analysis

Stakeholder communication

Cross-functional collaboration

Asset management

LIHTC regulations knowledge

Education

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

Job description

Job Summary: The Special Asset Manager is responsible for the strategic oversight and performance improvement of a portfolio of real estate investments that are either on the Cinnaire watchlist or exhibiting signs of financial or operational decline This role focuses on preserving investment value, ensuring compliance with regulatory and partnership agreements, and implementing targeted strategies to improve asset performance.

Essential Duties and Responsibilities:

• Ensure optimal performance and compliance of stabilized properties and equity investments, while proactively managing financial and operational risks.
• Assess underperforming assets, develop and implement recovery strategies, and guide decisions on watchlist status through performance analysis and site evaluations.
• Facilitate clear, consistent communication with internal and external stakeholders, deliver timely performance insights, and support data integrity for informed decision-making.
• Align funding strategies and resource deployment with asset stabilization goals through cross-functional collaboration and oversight of capital activity.
• Cultivate strong partnerships with investors, developers, agencies, and other key stakeholders to support asset performance and organizational objectives.
• Engage in industry learning, contribute to process improvement, and participate in organizational initiatives to advance departmental excellence.

Qualifications and Skills:

• Bachelor’s degree in real estate finance, economics, business, accounting, or a related field.
• Minimum of 2 years of experience in one or more of the following areas: real estate development, finance, rent-restricted multifamily assets, property management, community development, commercial lending, or related disciplines.
• Understanding of Low-Income Housing Tax Credit (LIHTC) regulations, along with experience with federal, state, and local affordable housing programs, preferred.
• Strong analytical, organizational, and communication skills.
• Ability to manage multiple priorities and work collaboratively across teams.
• Intellectual Agility: Flex and adapt thinking to meet the needs of different situations and circumstances.
• Analysis to Synthesis: Interpret data and information from multiple sources and translate it into coherent messages that inform decisions.
• Insight to Action: Act on conviction and advance from concept to implementation toward a goal; draw upon knowledge and professional judgment to orchestrate the steps required to get results.
• Perseverance: Accept uncertainty by remaining focused and engaged on assignments; look for plausible solutions to difficult problems.
• Inclusion Awareness: Identify the benefits and advantages of harnessing the collective insights of various individuals in the organization.

Reporting Relationship: Reports to VP, REO and Special Assets

Supervisory Relationship: None

Physical Requirements:

• Ability to work on a computer for extended periods of time.
• Must be able to periodically move throughout interior and exterior areas of a development during on-site visits in alignment with established travel requirements

Travel Required: Up to 35%

Benefits Offered:

• Medical, Health Reimbursement Account, Flexible Spending Accounts (medical and dependent care), Dental, Vision, Life Insurance, Accidental Death & Dismemberment, Long-Term Disability, Employee Assistance Plan, Pet Insurance, Identity Theft Protection, Paid Mobile Phone Service, Unlimited PTO, Incentive Compensation, 403(b) Plan, and Profit-Sharing Plan.

Cinnaire provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion, gender, sexual orientation, national origin, age, disability, marital status, status as a Vietnam-era or disabled veteran or any other characteristic protected by law. Cinnaire complies with all applicable federal, state, and local laws, regulations and ordinances prohibiting employment discrimination. Cinnaire is committed to the full inclusion of all qualified individuals. As a part of this commitment, Cinnaire is dedicated to providing access, and reasonable accommodation in its services, programs, activities, recruitment and employment for qualified individuals with disabilities.