Job Description

About the Job:

We are seeking an Asset Manager to oversee a portfolio of approximately 20 to 25 affordable and mixed-income housing communities in Virginia, DC, and Maryland. This individual will be the primary point of contact and subject matter expert for the assigned portfolio, ensuring the optimization of both physical and financial operations. The Asset Manager will work closely with external capital and development partners, lenders, and property management providers to drive performance and resolve issues.

Primary Responsibilities:

Data Management and Reporting:

• Oversee, prepare, and assist with internal and external reporting as required, including occupancy, property valuations, insurance, property taxes, and cash management.
• Establish KPIs, compile monthly performance reports, analyze results, and use property data to guide the achievement of key objectives.

Site and Financial Monitoring:

• Analyze property-level financial and operational metrics, and monitor the physical performance of the portfolio.
• Collaborate with property management, development, construction, compliance, and resident services teams to ensure operational efficiency.
• Review and approve annual operating budgets, capital expenditure plans, and non-routine expenditures.
• Conduct site visits and monitor property management systems to ensure compliance with investment and lender advisory agreements.

Planning and Risk Management:

• Collaborate with internal and external stakeholders to identify and address issues that may pose a risk to projects, and develop action plans to mitigate those risks.
• Develop and implement proactive strategies to resolve operational, financial, and compliance issues.

Research and Forecasting:

• Monitor property capital structures, including loan, equity, and tax credit terms and covenants.
• Identify opportunities for capital structure improvements through refinancing, restructuring, or repositioning owners' interests.

Compliance:

• Ensure that all contracts with third-party vendors and service providers are approved in accordance with policies and authority levels.

Minimum Requirements:

• Bachelor's degree (or equivalent), preferably in Business Management, Accounting, or Finance.
• A minimum of 3 years’ experience in multifamily real estate management, finance, accounting, or asset management.
• At least 2 years of experience in affordable housing, real estate asset management, property management, or housing development.
• Expertise in managing real estate ownership interests, including experience with multiple debt products, equity investments, private financing, and government funding (federal, state, local).
• Strong working knowledge of affordable housing programs, including HUD, public housing, and other programs supporting affordable housing.
• LIHTC knowledge gained from asset management, operations, or development is required.

Why Join the Team?

This is a dynamic opportunity for someone with a strong background in asset management and affordable housing to work with a leading organization dedicated to making a positive impact in the communities it serves. Our client offers competitive compensation and a collaborative, growth-oriented environment.

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