Associate Vice President Asset Management - Special Assets
Location: Indianapolis, IN
About the Employer
KCG Companies is a leading vertically integrated real estate development and construction firm specializing in the development of sustainable multifamily housing. The company's commitment to quality, innovation, and affordable housing is at the core of everything it does.
Role Summary
The Assistant Vice President (AVP), Asset Management – Special Assets will report directly to the Senior Vice President of Asset Management. This role is responsible for overseeing complex, underperforming, and high-risk assets across a portfolio of LIHTC and market-rate multifamily investments, leading strategy and execution for distressed properties, capital restructuring, regulatory challenges, and partnership workouts.
What You'll Do
- Lead oversight of designated special assets portfolio, including distressed, watchlist, or high-risk properties
- Identify early warning indicators and proactively intervene to prevent deterioration
- Develop and execute asset-level business plans aligned with enterprise strategy
- Present recommendations to Investment Committee and Executive Leadership
- Ensure compliance with LIHTC requirements and layered funding sources (HOME, CDBG, bonds, HUD, state agencies)
- Resolve material noncompliance issues and agency findings
- Oversee corrective action plans and investor reporting
- Manage state housing finance agency relationships in distressed scenarios
- Oversee performance of property management for special assets
- Approve turnaround budgets and operational recovery plans
- Conduct deep financial analysis including stress testing and downside modeling
- Monitor DSCR, breakeven occupancy, reserve sufficiency, and covenant compliance
- Develop hold/sell/restructure recommendations supported by detailed financial modeling
- Oversee physical repositioning and capital improvement strategies
- Direct large-scale rehab or syndication efforts
- Align capital deployment with recovery strategy
- Serve as senior liaison to executive leadership
- Coordinate with Legal, Accounting, Development, and Property Management teams
- Contribute to enterprise-level asset management policies and risk framework development
- Assist in negotiation of loan modifications, restructurings, forbearance agreements, or deed-in-lieu transactions
- Structure recapitalizations including GP equity, LP adjustments, soft debt restructuring, and syndications
- Assist in evaluating and identifying refinancing strategies in constrained capital markets
- Direct resolution of partnership disputes and complex waterfall issues
- Manage troubled Year 15 exits, Qualified Contract processes, and extended use strategies
Required Qualifications
- Bachelor's degree or equivalent work experience, ideally in Finance, Real Estate, Accounting, Business, or related field
- Minimum 6 years' experience in LIHTC multifamily asset management
- Experience leading workouts, restructurings, or distressed asset resolutions
- Deep understanding of affordable housing capital stacks (tax credits, bonds, soft financing)
- Advanced financial modeling skills
- Strong negotiation and restructuring experience with lenders and investors
- Strategic and decisive leadership capability
- Expert-level financial acumen
- Advanced negotiation capability
- Risk identification and mitigation skills
- Executive presence and communication skills
- Ability to operate effectively in high-pressure environments
- Strong understanding of partnership structures and investor dynamics
Benefits
Health Care Plan (Medical, Dental & Vision), Retirement Plan (401k, IRA), Life Insurance (Basic, Voluntary & AD&D), Paid Time Off (Vacation, Sick & Public Holidays), Short Term & Long Term Disability
Equal Opportunity Statement
All employment decisions at KCG Companies are based on business needs, job requirements, and individual qualifications. Qualified candidates are recruited without regard to age, race, color, national origin, gender, and sex.
