Our Client:
A rapidly growing, dynamic Real Estate company that acquires and develops affordable housing across the country, primarily in the Northwestern and Southeastern U.S. – mainly through the use of LIHTC. With offices in Washington, Georgia, Texas, Chicago, and North Carolina, this company is focused on growing its national footprint into several other markets. Their founding Principals have over 4 decades of experience and have developed thousands of units of multifamily affordable and supportive housing. Their partners include local / state governments and non-profit organizations as well as various lenders and investors to build new facilities or acquire and rehabilitate existing properties. We've already placed 8 professionals with this organization in 3 of their offices throughout the country over the last 4 years. This is an EXCELLENT group with a fantastic culture and reputation. The Owner of the company has been in the business for 40+ years and is focused on succession planning and setting up his team for the future Senior leadership team is passionate about mentorship and looking for someone with high integrity and trustworthiness Actively focused on 4% and 9% new construction projects Very impressive deal volume, especially for their team size Well capitalized and highly interested in growth and expansion Developed, constructed and renovated 8,000+ affordable and supporting housing units across 8 states Development pipeline currently includes another ~2,500 units across multiple states
The Opportunity:
An Affordable Housing Asset Manager is responsible for overseeing the financial and operational performance of a portfolio of affordable housing properties throughout the Southeast. The Affordable Housing Asset Manager works closely with ownership, property managers, investors, lenders, regulators, and other stakeholders to ensure compliance with contractual and regulatory obligations, maximize financial returns, and preserve the long-term affordability and viability of the properties.
Scope of Responsibility:
Monitor and analyze the financial performance of the portfolio, including income, expenses, cash flow, debt service, reserves, and capital needs.
Prepare and review annual operating budgets, rent schedules, operating reports, audits, tax returns, and other financial documents.
Conduct regular site visits and inspections to assess the physical condition and management of the properties.
Manage transitions from construction through lease-up and work with lenders and investors on equity installments, loan conversions and refinancings.
Coordinate and approve capital improvement projects, major repairs, and replacements.
Ensure compliance with federal, state, and local regulations, as well as investor and lender requirements, related to affordable housing programs, such as Low-Income Housing Tax Credits, Section 8, HOME, and others.
Negotiate contracts, leases, loan agreements, partnership agreements, and other legal documents.
Communicate and maintain positive relationships with property managers, investors, lenders, regulators, tenants, and community partners.
Identify and pursue opportunities to increase revenue, reduce costs, improve efficiency, and enhance resident satisfaction.
Manage and resolve issues and disputes that may arise among the portfolio stakeholders.
Stay abreast of current market trends, best practices, and regulatory changes in the affordable housing industry.
Submit project filings to state agency, such as 8609s, compliance reports, rent increase requests, and other required documents.
Qualifications & Skills:- Bachelor's degree in business, finance, real estate, or related field.
- Minimum of five years of experience in affordable housing asset management, property management, or real estate development.
- Knowledge of affordable housing programs, regulations, and financing mechanisms.
- Ability to travel up to 20% regionally, plus locally for property inspections
- Proficiency in Microsoft Office, especially Excel, and property management software.
- Strong analytical, problem-solving, and decision-making skills.
- Excellent verbal and written communication skills.
- Ability to work independently and collaboratively in a fast-paced environment.
- Attention to detail and accuracy.
- Commitment to the mission and values of affordable housing.
Our Firm – KM PartnersKM Partners' national Executive Search and Professional Recruitment practice areas focus on high-growth, impact-investment-oriented businesses across relevant industries, including Investment Management, Real Estate, Clean Energy, Sustainable Infrastructure, and related Business and Professional Services. With a core focus in Tax Credits (LIHTC, NMTC, Historic, & Renewable), Multifamily, Affordable and Senior Housing, we partner with clients and place industry-specific professionals throughout the United States. We represent C-level Executive Leadership, Middle Management, and experienced Associates across industry professions.
