Asset Manager, Real Estate Equity

Enterprise Community Partners•Columbia, MD

14d•$100,000 - $120,000

About The Position

The Asset Manager, Real Estate Equity oversees a portfolio of restricted affordable housing, including LIHTC and Section 8 properties, and unrestricted workforce housing investments associated with Real Estate Equity funds. The role uses site visits, detailed financial reviews, and problem resolution or workouts to support execution of underwritten business plans and protect the viability, quality, and affordability of investments while meeting or exceeding investor return expectations. The position supports advanced problem-solving as investment plans change and leads disposition efforts for fund investments. It works with General Partners and Sponsors, funders, regulatory agencies, lenders, internal teams, and investors to monitor performance, mitigate risks, adjust business plans, and complete reporting and disposition analyses. The role also supports strategic priorities such as affordability, climate risk mitigation, resident services, health action plans, renter wealth creation, and resident credit reporting.

Requirements

5–7+ years of experience in real estate, housing programs, finance, accounting, law, and/or property management.
Bachelor’s degree required.
Strong financial analysis skills.
Familiarity with loan documents, partnership agreements, contracts, and other legal documents.
Knowledge of real estate and LIHTC.
Strong computer skills.
Ability to adapt quickly to changing priorities and circumstances.
Ability to work evening and weekend hours during peak periods.
Strong organizational skills and ability to coordinate complex activities, prioritize conflicting demands, and meet deadlines.
Highly motivated and able to work independently with minimal supervision.
Strong interpersonal skills when working with a wide variety of professional and non-professional personnel.
Strong problem-solving and negotiating skills.
Strong written and oral communication skills.
Ability to travel as necessary to accomplish position goals.
Strong ethics in interpersonal relations and ability to work as an effective, collaborative team member.
Valid driver’s license.

Nice To Haves

Bachelor’s degree preferably in real estate, finance, accounting, or a related field.
Thorough knowledge of MS Word, MS Excel, and MS Outlook.

Responsibilities

Manage a portfolio of approximately 15–20 properties for which Enterprise provides asset management for Real Estate Equity funds.
Identify, communicate, and help mitigate risks and problems using reporting tools and information from General Partners and Sponsors, property managers, and site visits.
Review, analyze, and evaluate monthly property performance against pro forma and budget, and provide regular feedback and recommendations to external partners and investors and the internal Real Estate Equity team.
Work with General Partners and Sponsors, funders, and regulatory agencies to execute underwritten business plans and coordinate modifications when needed, including changes to property management, General Partner entities, debt structures, or disposition timelines.
Negotiate problem-resolution and workout strategies with general partners, lenders, and public-sector entities as necessary.
Conduct project site visits, review property management and organizational systems, and provide technical assistance as needed.
Evaluate historical and forecast property performance, as well as Sponsor and management-agent performance.
Author disposition memos and refinance analyses, working with the Vice President Asset Management to obtain feedback and approvals.
Support implementation of Enterprise’s strategic plan, ESG priorities, and fund-specific or investment-specific business plans, including monitoring affordability, climate risk mitigation, green retrofits and utility performance, social service plans, health action plans, renter wealth creation, and resident credit reporting.
Work with Housing Credit Regional Asset Management teams to develop communication strategies with common partners as needed.
Interface regularly with the Vice President Asset Management during monthly and quarterly reporting cycles and complete required internal and external reporting.
Participate in monthly Real Estate Equity team update meetings and provide underwriting input on deal structuring and asset management issues.
Interface quarterly with the internal Investment Committee and external Advisory Committee, assist with meeting materials, and present portfolio updates at annual investor meetings.
Track insurance renewals, real estate tax payments and appeals, and market conditions.
Complete internal and external reports accurately and on time.
Provide Enterprise staff with accurate and timely information.