Assistant Vice President/Regional Asset Manager
Location: Washington DC, Florida (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 clear: 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. Backed by Blackstone Real Estate, we are making a bold commitment to preserving affordable housing across the country, with plans to invest over $500 million over the next decade to improve our communities while keeping rents affordable for residents.
Role Summary
Working in partnership with Blackstone and April Housing leadership, the Assistant Vice President/Regional Asset Manager will assist in implementing the strategic direction for their region and will be responsible for maximizing the operating performance and value of their assigned portfolio. You'll collaborate with some of the most talented experts in the industry in a dynamic, fast-paced environment designed to support ambitious people as they take on new challenges and develop capabilities that translate throughout their careers.
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 the 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
- Bachelor's degree in Business Administration, Finance, Real Estate, or a related field
- Strong analytical and problem-solving skills with a data-driven approach
- Excellent interpersonal and communication skills to collaborate with a diverse range of stakeholders
- Effective communication: listens effectively and confirms understanding when needed; cooperates effectively with teammates (intact team and cross-functionally) and provides and takes feedback with ease
- Results-driven: works hard to ensure understanding of all critical performance targets; lines up personal and team performance to deliver results; accepts feedback and pivots activities and behaviors when needed to improve results
- Strategic planning: understands plans communicated and asks for clarity when needed; provides input when plans require front-line input; makes an effort to ensure teammates are aligned on daily and weekly actions supporting the plan
- Manages ambiguity: carefully listens to need for change or need to wait for instruction in times of change; keeps moving daily and weekly tasks forward while waiting for any pivots to workstream
- Develops talent and professional development: works with leadership to execute individual development plans for self and others; makes time to become the best in current role and to learn aspects of future potential roles
- Resilient: stays abreast of results individually and for the team and reacts with persistence, especially when results are less than planned; keeps a positive attitude and entertains and develops ideas to enhance results
Preferred Qualifications
- Strategic thinker with a proactive and results-oriented mindset
- Ability to manage multiple priorities in a fast-paced environment
- Understanding of affordable housing programs and compliance requirements
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).