Asset Manager

POSITION SUMMARY: The Asset Manager is responsible for monitoring the operational and financial performance of Eden’s portfolio, benchmarking, investor and lender relationships and acquisition, refinancing and rehabilitation necessary to preserve Eden’s portfolio.
The Asset Manager works closely with Senior Asset Manager and/or Director of Asset Management to identify and implement long term strategies to improve property performance to meet organizational objectives.
Working Relationships Internal: The Asset Manager reports to the Senior Asset Manager or Director of Asset Management.
He or she works closely with all Property Management personnel (off-site as well as on-site) and all staff in the central office.
External: The Asset Manager will routinely interact with outside vendors, Regulatory Agency personnel, lenders, and investors.
ESSENTIAL DUTIES AND RESPONSIBILITIES • Closely monitor and consistently report on the operational and financial performance of the portfolio of properties relative to budgets as well as development proformas.
• Responsible for third party property management relationships and monitoring the performance of the properties they manage.
Will review budgets, financials and audits and seek improvements to be in line with projections and owners’ objectives.
• Work closely with property management to assure financial performance of properties against budgets meets organizational objectives.
• Actively participate in the annual property budgeting process.
Review drafts prepared by property management and proposed changes or solutions to achieve property’s strategic goals • Review drafts of annual financial statement audits to monitor compliance with financial reporting requirements from outside parties • Prepare financial evaluation and recommendation for any portfolio-wide initiatives including development proforma budgets, benchmarking, and utility analysis.
• Monitor all aspects of partnership performance of Eden’s Tax Credit portfolio including but not limited to status of proforma, equity accounts, future buyouts, debt refinancing and capital planning.
• Expertise in using proformas to evaluate options for refinance, buy-outs, and syndications/re-syndications of existing owned properties that meet company financial objectives.
• Research partnership agreements, financing documents, regulatory agreements, tax returns and other sources to determine ownership objectives.
• Provide constructive input to Property Management when adverse performance trends arise and actively participate in developing corrective management plans.
• Responsible to coordinate and implement all aspects of refinancing or partnership buyouts up to and including rehabilitation, refinancing and re-syndication from funding through construction and final investor payment.
• Work with Development and Property Management to create accurate proformas and long-term financials plans for new properties.
• Respond to various requests for information from Regulatory Agencies, lenders and investment partners.
• Coordinate transition from development to operations including document transition, creation of property binders, regulatory compliance, budgeting, LP payment and 8609 processing.
·Perform other assignments and duties as assigned.
·Actively participate in our culture of inclusivity.
SUPERVISORY RESPONSIBILITIES Directly supervises one or more employees in accordance with the organization’s policies and applicable laws.
Responsibilities include interviewing and training employees; planning, assigning, and directing work; appraising performance; rewarding and disciplining employees; and addressing complaints and resolving problems.
EDUCATION and/or EXPERIENCE • Strong experience in affordable housing and/or multi-family residential real estate finance preferred.
PREFERRED SKILLS and/or ABILITIES • Ability to prepare financial feasibility analyses, conduct research, and prepare narrative reports and proposals.
• Experience in developing business and strategic plans.
• Capability to analyze complex problems.
• Ability to work effectively with development professionals, public officials, and low-income tenants.
• Experience with or strong interest in non-profit organizations.
• Strong attention to detail • Excellent written and oral communication skills • Excellent time management skills, multitasking and ability to set priorities • Flexible, pragmatic, problem-solver • Strong computer skills primarily on Excel and Word (or comparable).
• A passion for housing justice and equity is highly desirable LANGUAGE, MATH & REASONING SKILLS Ability to read and comprehend written instructions, short correspondence, and memos.
Ability to write simple correspondence.
Ability to effectively present information in one-on-one situations to customers, clients, and other employees of the organization.
Ability to add and subtract two-digit numbers and to multiply and divide with 10's and 100's.
Ability to perform these operations using units of American money and weight measurement, volume, and distance.
Ability to apply common sense understanding to carry out instructions furnished in written, oral, or diagram form.
Ability to deal with problems involving several concrete variables in standardized situations.
PHYSICAL DEMANDS The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.
While performing the duties of this job, the employee is regularly required to talk or hear.
The employee frequently is required to sit and use hands to finger, handle, or feel.
The employee is occasionally required to reach with hands and arms.
The employee must occasionally lift and/or move up to 25 pounds.
Specific vision abilities required by this job include close vision and ability to adjust focus.
Physical demands include writing/typing, use of computer and paper files, answering phones, attending meetings.
WORK ENVIRONMENT The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job.
The noise level in the work environment is usually moderate.
QUALIFICATIONS To perform this job successfully, an individual must be able to perform each essential duty satisfactorily.
The requirements listed below are representative of the knowledge, skill, and/or ability required.
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
JOB DESCRIPTION REVISION This is not necessarily an exhaustive list of all responsibilities, skills, duties, requirements, efforts or working conditions associated with this job.
While this job description is intended to be an accurate reflection of the current job management reserves the right to revise the job or to require that other or different tasks are performed when circumstances change.
This job description replaces all previous descriptions for this position.
Eden Housing is an equal opportunity employer.
Eden Housing does not discriminate based on race, color, religion, sex, disability, familiar status, national origin, or any other arbitrary basis.