Senior Director of Asset Management

Project for Pride in Living•Minneapolis, MN

8d•$125,000 - $150,000

About The Position

Project for Pride in Living (PPL) is seeking a strategic and mission-driven Senior Director of Asset Management to lead the stewardship of its real estate portfolio; residential and commercial. This role is responsible for maintaining the value of the real estate as assets to PPL and to the communities. The Senior Director will oversee long-term asset planning, compliance, investment and portfolio analysis, ownership responsibilities ensuring alignment with PPL’s mission to build stronger communities through housing, employment, and education.

Requirements

Demonstrated problem solving skills in analyzing and recommending alternatives and solutions to funding issues, legal structure and operating issues related to an affordable housing portfolio
Strong financial analysis skills essential to the review of the financial performance, capital needs and operating reserves of individual properties and a broader portfolio
Assist with the preparation of budgets, capital expenditures, and tax information
Proficient in Microsoft Office products especially Excel.
Must have valid Minnesota drivers’ license and able to drive to inspect sites
7-10 years experience in asset management, real estate investment management, commercial real estate finance, 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 position
Familiarity with low-income housing funding mechanisms essential to development and operation of affordable housing properties
Understanding of the various legal entity structures and their reporting requirements (e.g. LLC, LP, LLP)
Knowledge of real estate financing and accounting
BA/BS degree in Real Estate Management, Business, Finance or Accounting, or other related field. (additional education may substitute for experience)

Nice To Haves

Experience with Yardi a plus

Responsibilities

Monitoring performance of portfolio of low-income housing units plus commercial space, especially monitoring financial performance, physical condition and capital expenditures, advising of opportunities for improvement of troubled properties and recommending corrective action
Establishing an Asset Management Plan for each owned property, clarifying management priorities consistent with PPL mission
Reviewing insurance and property tax status of each property and taking measures to assure proper insurance coverage and tax classification and valuations
Reporting to limited partners and funders as required, ensuring connection to the PPL Executive Team
Working closely with PPL’s compliance team, monitoring compliance with all funding and other requirements for all owned properties
Reviewing, recommending and implementing new financing or ownership structures for existing portfolio, as appropriate
Maintaining all property records in a well organized, easy to retrieve system, for legally required time periods
Serve as supervisor to Associate Director of Asset Management and Real Estate Project Analyst.