Assistant Vice President/Regional Asset Manager
Location: Los Angeles, CA (Remote)
Employment Type: Full-time
About the Employer
April Housing is a leading owner and operator of high-quality affordable housing across the United States. Founded in 2022 and headquartered in Los Angeles, we are a portfolio company of Blackstone Real Estate, supporting the affordable housing and LIHTC (Low-Income Housing Tax Credit) portfolio. Our mission is to preserve critical affordable housing stock while delivering exceptional management and high-quality homes to the communities we serve. We are committed to being a fair, transparent, and responsible owner, dedicated to ensuring our assets align with high standards of excellence, including ongoing property improvements and elevated resident services.
Role Summary
The Assistant Vice President/Regional Asset Manager will join the company's Asset Management team, working in partnership with Blackstone and April Housing leadership to implement strategic direction for their region and maximize the operating performance and value of their assigned portfolio.
What You'll Do
Strategic Leadership
- Develop and implement asset management strategies to maximize property performance, cash flow, and portfolio value while maintaining affordability commitments
- Prepare investment recommendation reports for new construction and rehabilitation including a market assessment, proposed construction scope, and accompanying operating proforma
Portfolio Oversight
- Oversee a regional portfolio of affordable housing properties, ensuring compliance with HUD, LIHTC, and other federal, state, and local regulatory requirements
- Monitor and analyze property performance metrics, including occupancy, rent collections, operating expenses, and capital needs
- Conduct regular property and market evaluations to identify opportunities for improvement or risk mitigation
- Physically inspect each property within the portfolio with regular cadence
Financial Performance
- Manage property budgets and long-term financial planning, ensuring alignment with ownership goals
- Collaborate with property managers to optimize NOI (Net Operating Income) and meet financial targets
- Oversee annual audits, financial reporting, and tax credit compliance submissions
- Analyze neighborhood or market conditions and trends, identifying potential impact on the existing portfolio
Team Development and Collaboration
- Partner with property management companies to ensure consistent execution of operational strategies
- Collaborate with Development and Acquisitions teams to ensure seamless transitions of newly acquired or developed properties into the portfolio
Compliance and Risk Management
- Identify and mitigate potential risks, including physical, financial, and regulatory challenges
- Develop and implement corrective action plans as needed to address performance or compliance issues
Required Qualifications
- Minimum 7 years of experience in asset management, real estate, or property management, with a strong focus on affordable housing
- Demonstrated understanding of LIHTC, HUD programs, and other affordable housing regulations
- Strong financial acumen, including experience with financial modeling, budgeting, and reporting
- Strong analytical and problem-solving skills with a data-driven approach
- Excellent interpersonal and communication skills to collaborate with a diverse range of stakeholders
- Ability to manage multiple priorities in a fast-paced environment
Preferred Qualifications
- Bachelor's degree in Business Administration, Finance, Real Estate, or a related field
- Strategic thinker with a proactive and results-oriented mindset
Compensation
$145,000–$160,000 annually. This represents the presently-anticipated low and high end of the Company's base compensation range for this position. Actual base compensation may vary based on various factors, including but not limited to location and experience. This position is also eligible for discretionary bonus and incentive compensation on an annual basis.
Benefits
Health insurance coverage, retirement savings plan, paid holidays, and paid time off (PTO).
