Asset Manager (Affordable)
Location: Virginia
Work Arrangement: Hybrid or Remote
About the Employer
BLDG Partners LLC is a Southern California-based real estate investment firm founded in 2010 focused on the preservation of workforce and affordable housing. The firm pursues opportunities to improve communities in urban and suburban markets across the country.
Role Summary
The Asset Manager (Affordable) will implement Asset Management Best Practices to achieve department goals and successfully manage the portfolio with a focus on establishing uniform management and the implementation of the company's operational business plans. This individual will analyze property performance, cash flows, valuation, market trends, and operational strengths and weaknesses to inform strategies for maximizing value to the company and stakeholders.
What You'll Do
- Prepare and present regular reports on asset performance, valuation, and risk assessment to owners, executive team, and other stakeholders
- Problem solve property and portfolio level issues through research, analysis, and implementation, serving as a key resource to the VP of Asset Management
- Prepare market analysis reports, including comparable rents, vacancy, and absorption/supply data
- Demonstrate strong understanding and monitoring of key financial and operational Key Performance Indicators (KPIs)
- Execute underwritten business plans and successfully manage reserves, lease-up processes, and other financial aspects of the portfolio
- Prepare and present detailed financial and operational planning, budgeting, reforecasting, data management, analysis and reporting, ensuring all internal and external financial reporting requirements and deadlines are met while monitoring internal watchlist
- Prepare analysis of trends through regular operating metrics while acting swiftly to address budget variances and operational issues via analysis of rent roll, P&L statement, and property level reporting
- Maximize cash flow and total return for each assigned property through the analysis of financial and operational reports to identify opportunities for improvements
- Work closely with various third-party agent departments to ensure full data integrity and quality reporting, maintaining an in-depth and up-to-date record of property activity and document management
- Create and update quarterly asset management plans for each property, helping lead the big picture while assisting in the development and monitoring of strategies to maximize asset values within the portfolio
- Complete property inspections as part of monitoring property performance, management execution, property capital needs, funding sources, and potential savings opportunities
- Present information in a clear and concise manner, ensuring that complex data and recommendations are easily understood by diverse stakeholders
- Independently monitor the activities of third-party property management firms responsible for the daily operations of the properties, with the goal of reporting significant information to the VP of Asset Management
- Develop, foster, and maintain relationships with management agents, lenders, contractors, third-party monitors, investors, local and state housing agencies, General Partners, and others in the LIHTC industry to enhance property and portfolio value
- Ensure each asset is in compliance with regulatory agencies and meeting fiduciary obligations to lenders and investors
Required Qualifications
- Five years of experience in real estate, accounting, finance, or construction management with relevant affordable housing industry experience and/or certifications
- Comfortable navigating and analyzing transaction legal documents, financial projections, and financial reports
- Ability to discuss critical paths, complex scheduling, and related matters with internal and external partners
- Strong Excel modeling skills with working knowledge of Smartsheets, Yardi, AIM, and/or Realpage
- Collaborative team player with a strong work ethic
Preferred Qualifications
- Bachelor's Degree (BA/BS) in Business, Finance, Real Estate, or Urban Planning
- Prior experience in the LIHTC/HUD industry
Additional Information
This position thrives in an entrepreneurial culture and requires an individual who is detail-oriented, organized, and accustomed to allocating time to double-check work with the ability to prioritize and handle multiple tasks with flexibility. The ideal candidate will work cooperatively and collaboratively to help build a successful and growing company.
