Associate Asset Management

Advantage Capital • St. Louis, MO

68d

About The Position

Advantage Capital has been financing projects and companies in communities underserved by traditional sources of capital since 1992, helping transform local economies. Our syndication group provides state tax credit equity to help developers finance their new construction, rehabilitation and mixed-use projects. Advantage Capital has syndicated over $2.3B in federal and $2.4B in state tax credits over a more than 30-year history and, in the process, developed deep expertise in efficiently structuring and closing transactions. We are currently active in the following states for state LIHTC: Arizona, Arkansas, Colorado, DC, Georgia, Hawaii, Indiana, Kansas, Missouri, Nebraska, Ohio, Oklahoma, South Carolina, Utah, Virginia and Wisconsin. The Asset Management team supports our affordable housing team by monitoring our investments for their entire life cycle from closing to disposition. They must be detail oriented and professional. Primary duties include but are not limited to collecting and analyzing financial statements to ensure the properties are performing as expected and remain in compliance. In addition to asset management duties, this position requires an understanding of state LIHTC programs, basic partnership reviews and tax return reviews.

Requirements

• Working Knowledge of LIHTC Compliance requirements
• Ability to independently interpret data, identify inconsistencies or noncompliance and make recommendations to leadership
• Excellent verbal and written communication skills
• Excellent organizational skills and attention to detail
• Ability to multi-task and prioritize responsibilities as needed
• Excellent time management skills with a proven ability to meet deadlines
• Works well in a team setting
• Strong analytical and problem-solving skills
• Ability to maintain confidentiality, and to exercise discretion and good judgment
• Proficient with Microsoft Office Suite or related software

Responsibilities

• Monitor and evaluate on a quarterly, annual or as-needed basis the financial performance of each asset assigned and address major operational performance issues related to the property
• Expedite collection of overdue deliverables by contacting property owners / managers
• Establish and maintain good working relationships with internal and external stakeholders and partners including operating partners, property managers, and equity partners
• Maintain and update data points in various spreadsheets and online systems
• Analyze and interpret data collected from properties for compliance with internal metrics
• Prepare monthly, quarterly and annual reports to supervisor which are ultimately provided to senior leadership, and present updates to leadership as needed
• Perform site visits, as requested
• Monitor projects under construction and lease-up to ensure underwritten budgets and schedules are being maintained
• Risk rate assigned assets on quarterly basis and provide a proactive plan for addressing any property added to the watch list
• Reviewing/analyzing documentation supporting capital contribution installments and making recommendation as to whether benchmarks have been met – including debt service coverage ratio, stabilization, and economic/physical occupancy calculations
• Field partner requests and changes to partnership agreements for approval
• Analyze lease up to determine initial year credits and calculate and make recommendations to leadership on equity adjusters
• Track and review tax returns and tax credit eligibility documents from partnerships
• Other tasks as directed.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: Bachelor's degree