Asset Manager

Resources for Community Development•Berkeley, CA

39d•$103,910 - $121,580•Hybrid

About The Position

For more than 40 years, Resources for Community Development (RCD) has been a leading regional nonprofit developer and owner of affordable housing. RCD’s mission is to create and preserve affordable housing for people with the fewest options, to build community and enrich lives. RCD fosters strong, inclusive neighborhoods through strategies that address the health, economic development, education, and housing needs of residents across the community. Since RCD was established in 1984, we have developed or preserved over 75 communities that provide affordable, high-quality, and service-enriched affordable rental housing to over 3,000 low-income households throughout the Bay Area. RCD is actively growing, with more than 1,000 new units of affordable housing in development or under construction. RCD strives for excellence, and we are seeking an outstanding candidate to join our team. The Asset Manager (AM), under the direct supervision of RCD’s Associate Director of Asset Management, will be responsible for various asset management activities related to RCD’s multifamily affordable housing portfolio. The candidate will join a growing team with a strong track record, industry position, and trajectory. In this position, you will work closely with a variety of partners and stakeholders, including lenders, investors, property management, and social services professionals, as well as with key members of RCD’s senior leadership team. You will help guide the management of a growing real estate portfolio that assigns equal value to financial performance as it does the resident quality of life. We are looking for someone who is detail-oriented, a critical thinker, and a problem solver. Just as important, we want a candidate who is good with people, has a passion for real estate, and wants to affect social change. Join us!

Requirements

2+ years of experience in asset management, property management, real estate development, or another field with transferable skills.
Familiarity with affordable housing financing and subsidy programs preferred.
Team player with a ‘can-do’ attitude and an outlook that problems are to be solved.
Strong interpersonal skills and an ability to indirectly manage others.
Clear and effective verbal and written communication.
Strong organizational skills and an ability to juggle and prioritize multiple responsibilities.
Demonstrated ability to analyze property financial statements.
Strong Excel ability.
Associate degree required; bachelor’s degree preferred or other transferable experience.

Nice To Haves

Salesforce database development and maintenance and business analytics solutions knowledge a plus.
Experience with property management and financial accounting systems a plus (e.g., MRI, Boston Post, Yardi, Sage, RealPage).
Industry training certifications or accreditations a plus (e.g., CHAM, IREM, LIHTC).

Responsibilities

Manage a portfolio of rental housing to meet or exceed corporate revenue targets while maintaining or improving the financial and physical condition of the underlying real estate.
Indirect management of the property management company, John Stewart Company, as well as representing RCD in management-related issues and decision-making.
Engage in portfolio-level capital planning, business planning, and financial management.
Collaborate with other departments, including Real Estate Development and Resident Services, as needed.
Develop, implement, and maintain property-level strategies directed toward the financial and physical well-being of the asset and its eventual financial repositioning.
Monitor Key Performance Indicators and oversee necessary property modifications through resolution.
Support quality control, accuracy, and timeliness of real estate administration, including compliance tracking; lender and investor reporting; subsidy administration; property-level legal proceedings and exposure; and insurance claim administration.
Given third-party property management by the John Stewart Company, routine and continual communication and coordination with property management staff regarding operational issues that require owner input.
Manage portfolio of properties to corporate revenue targets.
Support the maintenance of RCD’s property financial tracking systems, databases, and dashboards.
Negotiate annual operating budgets and present for approval.
Conduct quarterly financial performance reviews with property management staff.
Participate in the annual audited financial statement process and review.
Issue accounting guidance and directives to the property management company.
Manage capital planning and reserves, authorize withdrawals, and present significant expenditures for approval.
Support layering of new financing, refinancing events, and loan modifications.
Implement capital improvement plans in coordination with RCD’s Associate Director of Portfolio Finance.
Collaborate on property-level physical plant initiatives, as assigned.
Conduct annual site visits.
Support transactional work pertaining to Year 15 acquisitions of LIHTC investor positions.
Support Associate Director of Portfolio Finance in applications for and transactions related to new financing for identified properties and resulting renovations.
Recommend annual fee targets for portfolio.