Asset Manager

Location: Atlanta, GA • Employment Type: Full-time

About The Employer

Affordable Equity Partners, Inc. (AEP) provides a full range of investment banking services for those seeking to finance, build, purchase, or rehabilitate multi-family housing. Since 1997, AEP has invested in nearly 27,000 homes in 500 communities. AEP serves the growing need for affordable housing across 16 states in 250 cities and has successfully syndicated over $4 billion in tax credits to build or preserve homes for working-class families and seniors.

About The Role

Asset Managers ensure that each affordable housing community is being developed and maintained in accordance with IRS Section 42 regulations. The Asset Manager must minimize the risk of tax credit recapture through the identification and notification of potential problems that may lead to recapture and is responsible for monitoring a portfolio of affordable housing partnerships and loans to maximize long-term performance and ensure the annual delivery of tax credit benefits.

Responsibilities

• Establish and maintain excellent working relationships with property stakeholders
• Maintain detailed working knowledge of each project within the assigned portfolio
• Review and understand limited partnership agreements, regulatory agreements, financing documents, and other sources to determine enforceability of terms
• Manage construction schedules, lease-up schedules, cost certification, and 8609 executions to ensure timely delivery of first-year credits
• Perform quarterly construction site visits to properties under construction within the portfolio
• Review and approve documentation submitted to satisfy requests and process capital call payments to properties in the portfolio
• Monitor, analyze, review, and report on financial performance of the assets, including quarterly and annual statements, income and expense analysis, balance sheet analysis, budgets, and occupancy
• Analyze property performance, valuation, market trends, and operational strengths and weaknesses to inform strategies for maximizing value
• Identify watchlist properties and develop strategies to overcome issues
• Work to resolve problems through collaboration with the asset management team, general partners, property managers, lenders, and governmental agencies
• Analyze financial performance of collateral, borrowers, guarantors, key principals, and other stakeholders
• Perform risk assessments of investments, markets, and partners, and manage corrective strategies when performance issues are detected
• Review the published list of properties that should be considered for refinance and disposition
• Provide operational feedback to inform design, leasing, financing, and disposition strategies for new development projects

Requirements

• Bachelor’s degree required, preferably in business administration, public policy, finance, economics, or a related field
• 3-5+ years of professional experience, preferably in affordable housing, property management, public finance, government, or a related field
• Core competencies and experience in property management and real estate finance strongly preferred
• Proficiency in real estate terminology and concepts; basic knowledge of affordable housing programs at the City, State, and Federal levels encouraged, such as LIHTC, HOME, and Section 8
• Strong verbal and written communication and public presentation skills
• Strong organizational skills and ability to coordinate complex activities, prioritize conflicting demands, and meet deadlines
• Strong computer skills with thorough knowledge of MS Word, Excel, and Outlook
• Ability to travel approximately 50% in the first year, decreasing in subsequent years