Asset Manager

Company: Andrews & Cole
Location: Newport Beach
Posted on: November 14, 2024

Job Description:

Andrews & Cole is currently partnering with a well-established Low Income Housing Tax Credit (LIHTC) multifamily real estate owner/operator based in Newport Beach that is looking for an experienced Asset Manager to join the team. The role is hybrid and will report to the Director of Asset Management.Responsibilities:

• Managing a defined portfolio of company-owned affordable housing communities.
• Ensuring the financial performance and service levels align with mission-based goals and performance targets.
• Maintaining a detailed working knowledge of each project within the portfolio.
• Monitoring asset performance by collecting, reviewing, analyzing, and reporting on asset financials, including monthly financial reviews, monthly and quarterly portfolio reporting, internal cash flow modeling and forecasting, annual budgeting of revenue, and expenses and capital expenditures.
• Overseeing and monitoring the achievement of benchmarks such as construction completion, qualified occupancy, stabilization, and permanent loan conversion of LIHTC projects.
• Using your in-depth knowledge of property operations to guide property management in decision-making based on budgets, cash balances, development processes, and business plans.
• Partnering closely with our resident services coordinator to ensure resident and community goals and objectives are met.
• Ensuring compliance for your portfolio by tracking and overseeing management company filings including state, lender, and investor reporting, as well as tax exemptions by non-profit partners.Knowledge, Skills, and Abilities:
  • Strong written and verbal communication skills (in English).
  • Thorough understanding of MS Office and Google Workspace, with advanced knowledge of MS Excel.
  • A strong customer focus, with a dedication to meeting the expectations, needs, and requirements of internal and external customers.
  • Willingness to roll up your sleeves and find creative solutions to challenges.
  • Ability to work successfully both independently and with others.
  • Comprehensive understanding of financial statements, including Operating Statements, Rent Roll, Balance Sheet, and Aged Receivables.
  • A strong understanding of development, finance, operations, or affordable housing.
  • Strong planning and organizing skills, with the ability to work on multiple projects simultaneously while adhering to deadlines.
  • Ability to periodically travel to your West Coast properties.Education and Experience:
    • Bachelor's degree in real estate, finance, economics, or a related field, or equivalent experience.
    • Minimum 3 years of experience in affordable housing, either within Asset Management or as a regional manager within property management.
    • Experience with Limited Partnership agreements, loan documents, regulatory agreements, and other legal documents relating to affordable real estate transactions.
    • Experience with financial modeling is a plus.
    • Master's degree in real estate development is a plus.For immediate consideration, please email your resume to rdesantiago@andrewscole.com.
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Keywords: Andrews & Cole, Rosemead , Asset Manager, Executive , Newport Beach, California