Associate Director of Asset Management

Project for Pride in Living•Minneapolis, MN

11h•Onsite

About The Position

The Associate Director of Asset Management is a strategic leadership role responsible for optimizing the performance, sustainability, and long-term value of Project for Pride in Living’s (PPL) multifamily affordable real estate. This position oversees asset management functions across affordable housing and mixed-use developments to preserve the quality and longevity of our buildings in a manner that is aligned with our mission.

Requirements

Demonstrated problem solving skills in analyzing and recommending alternatives
Strong financial analysis skills essential to the review of the financial performance, and solutions related to operating issues related to an affordable housing portfolio
Experience with the preparation of budgets, capital expenditures, and tax information
Prior Real Estate Portfolio Management Experience
5-7 years’ experience in real estate, asset management, property management, real estate Accounting or other closely related field
Demonstrated proficiency in the ability to read and interpret documents related to the Asset Management such as property records, income and expense reports, insurance and property tax information
Familiarity with low-income housing funding mechanisms essential to operation and development of affordable housing properties (e.g. tax credit financing, operating subsidy programs, section 8 housing assistance, state/local/federal funding)
Knowledge of real estate financing and accounting
Must have valid drivers’ license and able to drive to inspect sites
BA/BS degree in Real Estate Management, Business, Finance, Accounting, or a combination of training and relevant experience

Nice To Haves

Yardi Property Management software proficiency highly desirable

Responsibilities

Monitor and manage primarily low-income housing units plus some commercial space, including monitoring financial performance, physical condition and capital expenditures, of troubled properties and recommending corrective action
Select, engage, and manage appropriate management services for all PPL-owned real estate
Work closely with Asset Management team to establish and implement an Asset Management Plan
Coordinate and execute property disposition strategies, including conducting financial analysis, identifying and addressing legal issues, such as land use restrictions and other property covenants, and coordinating project closing details
Ensure property insurance and property tax is in order for each property, including assuring that proper insurance coverage and tax classification and valuations filed and addressed appropriately
Manage all property insurance claims, losses and repairs, in coordination with Property Management, Finance and outside contractors
Produce and prepare reporting to partners, investors, funders, and other external stakeholders as required
Monitor and manage compliance with all funding and other asset-related requirements for all owned properties, including assuring that regulatory and legal reporting requirements are fulfilled
Collaborate with Real Estate Development and Property Operations during all phases of the development process to review and analyze financial plans, projections, and financial structures