Affordable Asset Manager

About the role

The Asset Manager will manage a portfolio of Affordable Housing developments through the oversight of a third-party management company, site visits, financial review, compliance review, as well as maintaining relationships with developer partners.

Responsibilities

• Partner with Acquisitions during underwriting to evaluate projected operating performance, investment assumptions, partnership structures, sponsor and property management capacity, and relevant market data.
• Assess deal structure, risk exposure, and overall investment viability.
• Manage the financial and operational performance of an assigned multifamily LIHTC portfolio.
• Review monthly property management reports and evaluate key performance indicators, including vacancy, delinquencies, turnover, and budget-to-actual variances.
• Analyze annual budgets, quarterly financial statements, audited financials, and K-1 tax returns.
• Maintain accurate and complete portfolio records and internal databases.
• Evaluate and approve equity installment requests, equity adjustments, yield maintenance calculations, and reserve withdrawals within defined authority limits.
• Perform surplus cash calculations and coordinate fee and cash flow distributions.
• Monitor guaranty triggers (completion, operating, and tax credit delivery) and assess guarantor financial capacity.
• Strengthen property monitoring and risk management processes, including oversight of third-party property management firms.
• Develop and maintain strong relationships with general partners/sponsors and implement asset management strategies to enhance investment value.
• Provide refinancing, disposition, acquisition, restructuring, and workout support for distressed assets.
• Evaluate economic and demographic trends and assess their impact on portfolio performance.
• Prepare investor reports and deliver presentations to investors, clients, and Senior Management.

Requirements

• Bachelor’s degree in Business Administration, Finance, Economics, Accounting, or a related field; equivalent experience considered.
• 5+ years of experience in affordable housing asset management, particularly LIHTC portfolios.
• Strong background in real estate operations, financial analysis, budgeting, reporting, and general accounting.
• Experience managing financial performance across a portfolio of properties required.
• Workout and restructuring experience strongly preferred.

Skills and Abilities

• Strong written and verbal communication, presentation, interpersonal, organizational, and negotiation skills.
• Advanced analytical and problem-solving abilities, with strong knowledge of accounting principles and the ability to interpret financial statements and underwriting models.
• Proficiency in portfolio and investment analysis, including IRR, XIRR, NPV, NOI, cap rates, DSCR, sensitivity analysis, equity installment tracking, yield maintenance calculations, and cash flow distributions.
• Ability to present complex financial and portfolio analysis to Senior Management and collaborate effectively within a broader asset management team.
• Ability to manage multiple priorities in a fast-paced environment while exercising sound judgment and maintaining a positive, team-oriented approach.
• Strong attention to detail and ability to oversee portfolio data integrity and reporting accuracy.
• Proficiency in Microsoft Office applications; familiarity with Access, FileMaker, PowerPoint, and Crystal Reports preferred.
• Ability to show ownership of your work, take on challenges and acknowledge growth opportunities, and demonstrate patience when learning new processes.

Benefits

The position offers an estimated base salary of $100,000 - $110,000 plus a discretionary bonus. An employment offer is based on the applicant’s relevant work experience, applicable knowledge, skills, abilities, internal equity, and alignment with market data.

Pay

The position offers an estimated base salary of $100,000 - $110,000 plus a discretionary bonus. An employment offer is based on the applicant’s relevant work experience, applicable knowledge, skills, abilities, internal equity, and alignment with market data.

Schedule

Attendance is generally required from 8:30 am – 5:30 pm local time, Tuesday through Thursday, with the option to work remotely on Mondays and Fridays.