Asset Manager - Affordable Housing Investments
specialty consultantsWhite Plains, NY
Asset Manager - Affordable Housing Investments
specialty consultantsWhite Plains, NYLead L6
Property, Real Estate, and Community Association ManagersSocial and Community Service ManagersInvestment Fund Managers
Residential Property ManagersLessors of Residential Buildings and DwellingsOther Community Housing Services
APPLY NOW (opens in a new tab)SCI, the Leader in Real Estate Executive Search®, has been retained by a national affordable housing investor — over $3 billion in AUM across 45 states, providing long-term capital for the creation and preservation of affordable housing — to recruit an Asset Manager. Reporting to the SVP, Equity Asset Management, the Asset Manager will be the main point of contact for general partners and property managers on a portfolio of multifamily affordable equity investments and will be responsible for the portfolio’s performance. Our client invests for the long term, with a focus on stable communities and quality housing for residents. The role reports results directly to senior leadership and the Board.
What you’ll do:
- Manage a portfolio of multifamily affordable equity investments and serve as the main contact for general partners and property managers
- Review monthly property financials against budget and business plan, update annual projections, and report on variances
- Stay in regular contact with partners and property managers, make sure they comply with operating and management agreements, and escalate issues when needed
- Track rehabs and capital expenditures against budgets, physical needs studies, and lender requirements, and review and approve bids
- Catch underperforming properties early and put workout plans in place
- Prepare DCF valuations and sensitivity analysis to support refinance and buy/sell/hold recommendations
- Help partners with refinancings and sales, including BOV and appraisal review, market research, lender requests, and legal document review
- Present portfolio performance to senior leadership and the Board of Directors at least quarterly
- Visit assigned properties annually and handle special projects as needed
- What you bring3–5 years of real estate experience; affordable housing a plus
- Asset management, property management, or accounting experience a plus
- Strong analytical skills; working knowledge of DCF and other real estate finance models
- Excellent Excel and communication skills
- Bachelor’s degree required; business, economics, real estate, community development, or a related field preferred
Matching similar jobs
Level
Lead L6
Location
White Plains, NY
Occupation
Property, Real Estate, and Community Association Managers
Industry
Residential Property Managers
Posted
18 days ago