Affordable Asset Manager

Walker & Dunlop•Calabasas, CA

5d•Hybrid

About The Position

Walker & Dunlop is a leading provider of capital to the commercial real estate industry. The W&D Affordable Equity department, formerly Alliant Capital, specializes in tax credit syndication for the development and financing of affordable multifamily rental housing. As a syndicator of Low-Income Housing Tax Credits (LIHTC), W&D Affordable Equity raises corporate equity and monitors various project phases, including development, construction, lease-up, and permanent financing. The department offers integrated real estate and investment support services through its team of experienced professionals in real estate, asset management, legal, and tax. The Asset Manager will be responsible for maximizing asset values and minimizing risk liabilities within an assigned Low Income Housing Tax Credit portfolio. This role involves managing a portfolio of affordable housing developments through oversight of third-party management companies, conducting site visits, financial and compliance reviews, and maintaining relationships with developer partners. The position also requires analyzing property-level financial data, including operating budgets, financial statements, residual receipts, audited financials, and tax returns. Additionally, the Asset Manager will contribute to special projects concerning partnership reporting, strategic workouts, and "Year 15" exit strategies, providing in-depth analysis and recommendations to Senior Management.

Requirements

Bachelor’s degree in Business Administration, Finance, Economics, Accounting, or a related field; equivalent experience considered.
5+ years of experience in affordable housing asset management, particularly LIHTC portfolios.
Strong background in real estate operations, financial analysis, budgeting, reporting, and general accounting.
Experience managing financial performance across a portfolio of properties required.
Strong written and verbal communication, presentation, interpersonal, organizational, and negotiation skills.
Advanced analytical and problem-solving abilities, with strong knowledge of accounting principles and the ability to interpret financial statements and underwriting models.
Proficiency in portfolio and investment analysis, including IRR, XIRR, NPV, NOI, cap rates, DSCR, sensitivity analysis, equity installment tracking, yield maintenance calculations, and cash flow distributions.
Ability to present complex financial and portfolio analysis to Senior Management and collaborate effectively within a broader asset management team.
Ability to manage multiple priorities in a fast-paced environment while exercising sound judgment and maintaining a positive, team-oriented approach.
Strong attention to detail and ability to oversee portfolio data integrity and reporting accuracy.
Proficiency in Microsoft Office applications.
Ability to show ownership of your work, take on challenges and acknowledge growth opportunities, and demonstrate patience when learning new processes.
Courtesy, respect, and thoughtfulness in teaming with colleagues and other stakeholders.

Nice To Haves

Workout and restructuring experience strongly preferred.
familiarity with Access, FileMaker, PowerPoint, and Crystal Reports preferred.

Responsibilities

Partner with Acquisitions during underwriting to evaluate projected operating performance, investment assumptions, partnership structures, sponsor and property management capacity, and relevant market data.
Assess deal structure, risk exposure, and overall investment viability.
Manage the financial and operational performance of an assigned multifamily LIHTC portfolio.
Review monthly property management reports and evaluate key performance indicators, including vacancy, delinquencies, turnover, and budget-to-actual variances.
Analyze annual budgets, quarterly financial statements, audited financials, and K-1 tax returns.
Monitor construction, lease-up, stabilization, ongoing operations, and compliance with Section 42 and applicable state agency requirements.
Evaluate and approve equity installment requests, equity adjustments, yield maintenance calculations, and reserve withdrawals within defined authority limits.
Perform surplus cash calculations and coordinate fee and cash flow distributions.
Monitor guaranty triggers (completion, operating, and tax credit delivery) and assess guarantor financial capacity.
Strengthen property monitoring and risk management processes, including oversight of third-party property management firms.
Maintain accurate and complete portfolio records and internal databases.
Develop and maintain strong relationships with general partners/sponsors and implement asset management strategies to enhance investment value.
Provide refinancing, disposition, acquisition, restructuring, and workout support for distressed assets.
Evaluate economic and demographic trends and assess their impact on portfolio performance.
Prepare investor reports and deliver presentations to investors, clients, and Senior Management.
Other duties as assigned.

Benefits

Up to 83% subsidized medical payroll deductions
Competitive dental and vision benefits
401(k) + match
Pre-tax transit and commuting benefits
A robust health and wellness program – earn cash rewards and gain access to resources that promote health, engagement, and balance
Paid maternity and parental leave, as well as other family paid leave programs
Company-paid life, short and long-term disability insurance
Health Savings Account and Healthcare and Dependent Care Flexible Spending
Career development opportunities
Empowerment and encouragement to give back – volunteer hours and donation matching