Macdonald & Company is partnered with a privately held real estate investment firm with an established and growing portfolio of affordable multifamily housing assets across the United States. The firm is actively expanding its investment portfolio and is seeking to strengthen its asset management capabilities to support continued growth. Our client is seeking a Director of Asset Management to oversee the financial and operational performance of its multifamily portfolio. Working closely with senior leadership, this individual will be responsible for managing third-party property management relationships, overseeing property-level budgets and financial performance, coordinating capital improvement initiatives, and ensuring the successful execution of asset-level business plans. This is a hands-on opportunity within an entrepreneurial investment platform, offering significant autonomy, direct exposure to senior decision-makers, and the ability to help shape asset management processes as the business scales. The position will initially be remote, with an expectation to transition to a West Palm Beach office around Q2 2028.
Responsibilities:
Oversee the financial and operational performance of a portfolio of affordable multifamily properties, ensuring assets perform in accordance with approved business plans and investment objectives. Manage relationships with third-party property management companies, monitoring occupancy, collections, operating expenses, leasing performance, and overall property operations. Lead the preparation, review, and ongoing management of annual property operating budgets, financial forecasts, and capital expenditure plans. Analyze monthly and quarterly financial statements, operating reports, and budget variances, identifying opportunities to improve NOI, cash flow, and asset performance. Develop and implement asset-level business plans, including operational improvements, expense management strategies, and initiatives to address underperforming properties. Oversee property renovations, capital improvement programs, and deferred maintenance initiatives, coordinating with internal construction personnel and third-party management teams. Monitor affordable housing compliance requirements, including applicable LIHTC regulations, regulatory agreements, financing covenants, and lender reporting obligations. Coordinate with internal accounting, finance, and operations teams to ensure accurate financial reporting, budget management, and execution of portfolio strategies. Prepare regular asset and portfolio performance reports for senior leadership, investors, lenders, and other stakeholders. Support the onboarding and operational integration of newly acquired properties, including the implementation of acquisition business plans and transition to third-party property management.
Qualifications:
Bachelor's degree in Real Estate, Finance, Accounting, Business Administration, or a related discipline.5+ years of relevant experience in multifamily asset management, with affordable housing experience strongly preferred.
Strong understanding of multifamily property operations, financial performance, and asset-level business planning.
Experience with affordable housing programs and regulatory structures, including LIHTC, HUD, and other income-restricted housing programs, highly desirable.
Demonstrated experience overseeing third-party property management companies and managing property-level operating performance.
Strong financial and analytical capabilities, including budgeting, forecasting, financial statement analysis, variance reporting, and capital expenditure planning.
Experience coordinating property renovations, capital improvements, and operational turnaround initiatives.
Advanced proficiency in Microsoft Excel and familiarity with property management and financial reporting systems.
Excellent communication, organizational, and stakeholder management skills, with the ability to work effectively across investment, finance, construction, and property operations.
Self-motivated, detail-oriented, and comfortable operating independently within a lean, fast-growing investment platform.
Ability to work remotely initially, with the expectation of transitioning to an office-based position in West Palm Beach around Q2 2028.
