AVP, Asset Management (Multifamily)
Location: California (Remote)
Employment Type: Full time
Work Arrangement: Remote
Requisition ID: JR103092
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 and ensuring our assets are aligned with high standards of excellence, including ongoing property improvements and elevated resident services.
Role Summary
We are seeking an Assistant Vice President/Regional Asset Manager to join the company's Asset Management team. Working in partnership with Blackstone and April Housing leadership, the AVP 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.
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 their 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.
- Strong analytical and problem-solving skills with a data-driven approach.
- Excellent interpersonal and communication skills to collaborate with a diverse range of stakeholders.
- Strategic thinker with a proactive and results-oriented mindset.
- 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.
- 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 range 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).
Equal Opportunity Statement
April Housing is an equal opportunity employer and prohibits discrimination based on any legally recognized basis, including but not limited to race, color, religion, sex, national origin, age, disability, sexual orientation, gender identity, or any other consideration protected by law.
