VP-MBAM

McCormack Baron Companies•St. Louis, MO

4d•Remote

About The Position

The Vice President of MBAM will handle a portfolio of McCormack Baron Salazar developed affordable housing properties (“the Properties”) and will report directly to the President. This role performs two primary functions: providing Asset Management Services for the Properties, including evaluation of operating performance, site inspections, compliance issues, cash flow/operating deficit management, and strategies for acquisition, refinance, re-syndication, and disposition; and performing General Partner Functions. As the VP develops a complete knowledge of the Properties in their portfolio, the General Partner function is expected to evolve rapidly into an informed, active role, providing traditional owner services, including support to and oversight of property management, relations with all MBS departments, lenders, state housing finance agencies and other regulators, as well as relations with the investor.

Requirements

Bachelor’s Degree – preferably in Real Estate or Finance
4+ years of real estate experience, with a preference for multifamily asset or portfolio management experience
Microsoft Excel proficiency required
Financial acumen
Strong communication skills

Nice To Haves

Experience in Section 42 housing preferred

Responsibilities

Develop a comprehensive knowledge of the portfolio assigned.
Participate in MBAM portfolio strategy and Capital Projects (Re-syndication, Recapitalization, Refinance, GP Exit, Disposition).
Review financial statements and operational performance to find areas of opportunity and / or improvement.
Review Investor site visit and compliance reports. Report issues noted and track on watch list.
Review and approve property budgets prepared by property management companies and make recommendations to improve cash flow and value.
Review annual audited financial statements.
Participate in quarterly Cash Flow meetings.
Review / approve annual Capital Expense Budget.
Physical inspection of Watch List MBS properties as needed. Review the physical structure for unusual deterioration or mismanagement. Analyze the neighborhood, market conditions, trends and their impact on the property.
Prepare site visit report of the financial and physical conditions, risks and opportunities for the properties and portfolio.
Review citations, letters and notifications from Cities, State Agencies, Trustees, Servicers, and direct them to responsible parties with follow up as needed.
Review compliance findings from State Agencies and report unsatisfactory findings as needed.
Monitor response to audit findings by management companies. Focus on efficient resolution of noncompliance.
Communicate with State Agencies, investors, management companies for EUA/LURA change requests.
Communicate with City/County Agencies and management company any deficiencies in business licenses, health, and safety regulations, etc. Monitor the handling of paperwork and payment to agencies as needed.
Review Annual Owner’s Certificate of Compliance.
Recommend physical needs assessment and capital plan as needed.
Review and approve replacement reserve withdrawal requests and ensure requests are consistent with documents.
Work closely with MBS development, management and investor for New Construction / Lease – Up.
Coordinate / arrange investor reporting by management prior to lease-up.
Monitor management compliance to deliver unit qualification information and year 1 file information to investors.