Senior Asset Manager, Equity
Location: Carmel, IN
Employment Type: Full-time
About the Employer
With over 30 years of success built on putting people first, Merchants Capital is a proven leader in financing for multifamily housing nationwide. The company holds licenses with Fannie Mae, Freddie Mac, and HUD/FHA, in addition to bank's balance sheet products, allowing custom solutions with agility and ease of execution. Recognized as a top five affordable lender, Merchants Capital pairs comprehensive debt offerings with in-house tax credit equity to provide a one-stop-shop for developers and owners.
Role Summary
The Senior Asset Manager will assist a team in managing a portfolio of multifamily properties syndicated through the Low-Income Housing Tax Credit "LIHTC" program. The main responsibilities include asset monitoring, financial analysis, risk assessment and reporting. This position requires travel and is ideally suited for an individual with strong analytical, financial and communication skills.
What You'll Do
- Lead a small team of Asset Managers or Analysts, assisting in the oversight of their portfolios, along with managing your own assigned properties
- Review and analyze property operations to evaluate performance and risk factors
- Prepare quarterly investor reports and risk ratings based on review of financial statements, updated projections, and status reports
- Proactively identify under-performing assets or property concerns and implement workout strategies to maximize value
- Monitor construction and lease-up progress through the collection of construction draws, inspection reports, rent rolls and qualified occupancy reports
- Collect and analyze audited financial statements and tax returns and benchmark against initial projections
- Oversee stabilization and loan conversion
- Maintain post-closing financial models
- Evaluate management companies' experience, marketing plans, and compliance strategies prior to closing
- Develop and maintain strong relationships with general partners, lender representatives, management agents and local officials
- Ensure properties are in compliance with the LIHTC program and engage third party compliance when necessary
- Facilitate the release of capital contributions
- Conduct annual property site inspections
- Provide clear and concise communication to colleagues and clients when required
Required Qualifications
- 3+ years of relevant professional work experience with an emphasis in LIHTC asset management and/or real estate development financial management
- Strong analytical skills for reviewing and analyzing financial statements
- Proficiency with Microsoft Office and Outlook
- Strong written and verbal communication with colleagues and clients and the ability to work collaboratively
- Excellent time management and organizational skills and a detailed approach to completing daily tasks
- Bachelor's degree from an accredited institution
Preferred Qualifications
- Experience managing and training others in LIHTC Asset Management
- Experience working in MRI Solutions (Investment Central/Integratec)
Benefits
401(k) employer contributions, employee stock ownership plan (ESOP), medical, dental and vision insurance, paid time off, paid holidays, paid leave as provided under state and local paid leave laws, short-term and long-term disability, health savings accounts (HSAs), flexible spending accounts (FSAs), dependent care and commuter reimbursement accounts, employee and dependent life insurance, supplemental life and AD&D insurance, telehealth, optional ancillary insurance policies, education assistance, and an employee assistance program.
