Stabilized Asset Manager

Cinnaire; Detroit (MI); On-site; USD 60,000 - 75,000; Full time

Benefits offered by this job

Medical

Dental

Vision

Flexible Spending Accounts

Unlimited PTO

Job summary

A community development organization in Michigan is seeking an Asset Manager for Stabilized Assets to oversee real estate debt and equity investments. This role involves ensuring financial success, compliance with agreements, and maintaining key relationships with stakeholders. The ideal candidate will possess a BA/BS, have two years of experience in real estate, and demonstrate strong analytical and problem-solving skills. Benefits include health insurance, unlimited PTO, and various financial plans.

Qualifications

• Two years’ experience in a real estate-related field.
• Ability to analyze and synthesize data.
• Strong problem-solving skills.

Responsibilities

• Oversee financial success of partnerships and compliance with agreements.
• Monitor capital contribution needs and operations of stabilized properties.
• Maintain relationships with investors and other parties.

Skills

Data interpretation

Intellectual agility

Perseverance

Insight to action

Diversity awareness

Education

BA/BS from accredited College/University

Job description

Job Summary

The Asset Manager, Stabilized Assets (SAM) oversees a portfolio of real estate debt and equity investments. Generally, this includes ensuring the financial success of the partnerships, continuing compliance with the executed partnership agreement, quarterly and annual reporting, and adherence to various regulatory agreements. The SAM fulfills these requirements through monitoring, reporting, and direct interaction with the owners and management of the individual partnerships.

Essential Duties and Responsibilities

• Monitors projected capital contribution needs when applicable.
• Processes capital contributions when applicable.
• Monitors operations of stabilized properties to:
  • Ensure protection of the debt and/or equity investments
  • Ensure timely delivery of tax credits and losses for low‑income housing tax credit equity investments
  • Ensure continued compliance with applicable programs, loan documents, and the partnership agreement
  • Ensure continued financial stability
• Manages and monitors accurate, timely delivery of data to the data management system. Closely monitors and corresponds regularly with General Partners for assets displaying signs of decline and increased emerging risk. In some cases, inclusion on Cinnaire’s internal Watch List.
• Monitors action plan progress on emerging risk assets on a regular basis to ensure improved asset performance.
• Collects and processes information relating to performance of each asset.
• Analyzes, projects, and reports on information relating to performance of each deal.
• Maintains business relationships with investors, developers, accountants, attorneys, consultants, property managers, housing finance agencies, lenders, and any other related parties.

Qualifications and Skills

• BA/BS from accredited College/University
• Two years’ experience in real estate related field
• Analysis to Synthesis: Interprets data and translates it into coherent messages that inform decisions.
• Intellectual Agility: Can flex and adapt thinking skills to meet the needs of different situations and circumstances.
• Perseverance: Accepts uncertainty by remaining focused and engaged on assignments. Looks for plausible solutions to difficult problems.
• Insight to Action: Acts on conviction and advances from concept to implementation toward a goal.
• Diversity Awareness: Identify the benefits and advantages of harnessing the collective insights of various individuals in the organization.

Reporting Relationship

Reports to Manager, Stabilized and Special Assets

Supervisory Relationship

None

Physical Requirements

Ability to work on a computer for extended periods of time.

Travel Required

Up to 50%

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.

Seniority level

Associate

Employment type

Full-time

Job function

Management

Industries

Real Estate, Non-profit Organizations, and Housing and Community Development

EEO Statement

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.