Asset Manager Jobs

About The Position

Requirements

• Bachelor’s degree in accounting, finance, urban planning, business administration, or a related field.
• Five years of experience in financial analysis, asset management, real estate accounting, real estate finance, real estate lending, or related work.
• Ability to learn and quickly become proficient with real estate and financial reporting software such as MRI Investment Central and RealPage.
• Self-starter with attention to detail and accuracy, and strong analytical, problem-solving, organizational, time-management, and project-management skills.
• Ability to read, analyze, and interpret financial statements and a variety of legal documents.
• Proficiency with Microsoft Office, especially intermediate-level or higher Excel skills, including developing advanced financial models such as pro formas.
• Excellent written and verbal communication skills.
• Ability to collaborate successfully across the organization.

Nice To Haves

• Direct experience with RealPage, MRI Investment Central, SharePoint, and Abila MIP.
• Experience with Low Income Housing Tax Credit multifamily affordable housing development.
• Familiarity with complex real estate ownership structures, including commercial condominiums.
• Experience working for a nonprofit or governmental entity developing and managing affordable multifamily housing.
• Two or more years of direct experience related to affordable housing finance or multifamily asset management.

Responsibilities

• Analyze and monitor the financial performance of assigned properties using portfolio measurement tools, identify trends, and develop improvement strategies aligned with funder requirements and industry benchmarks.
• Create and update asset management plans and share them across departments to align operating strategies with financial performance, physical sustainability, and mission fit.
• Collaborate with property management, leasing, and compliance teams to execute operating strategies and optimize property performance.
• Use MRI Investment Central to track financial and regulatory details, including regulatory agreements, tax credit compliance periods, loan provisions, and expiration dates; participate in database enhancements.
• Ensure timely compliance reporting for assigned buildings to state tax credit agencies, HUD, public funders, partners, and lenders, and maintain relationships and contact records for property funders.
• Support annual capital and property budget preparation, reviewing assumptions and final budgets for alignment with performance goals and funder requirements.
• Assess building condition and capital needs, develop plans for long-term physical sustainability, and work with the Capital Project Manager to implement plans.
• Monitor LIHTC capital accounts annually, compare losses with projections, and recommend corrective actions when necessary.
• Manage Year 15 investor exit transactions, including preparing exit documents and estimating exit tax projections as needed.
• Support commercial leases and condominium co-owners within the assigned portfolio.
• Provide staff support to and attend the Board Asset Management Committee when necessary.
• Determine properties suitable for recapitalization or refinancing; identify funding sources, solicit proposals, meet with lenders, investors, and consultants, construct pro formas, prepare funding applications, and manage refinancing.
• Analyze below-the-line property performance and use the asset management database to track cash-flow waterfalls and potential fees and distributions to Community Roots Housing.
• Work with finance teams and the Capital Projects Manager to process and close out grant funds for stabilization, repair, or rehabilitation of existing properties.
• Monitor insured values and coverage requirements, work with the CFO to ensure adequate coverage, evaluate casualty losses, and manage insurance claims for assigned properties.
• Complete other reporting and analysis as assigned by the VP of Asset Management.
• Support property management and the asset management analyst by providing data for financial modeling of stabilized low-income housing projects in Property Development.
• Assist with pro forma and governing-document review for projects in development.
• Assist with due diligence for funding applications, investor and funder negotiations, lease-up assumptions, and loan closings.
• Review and understand partnership, financing, and regulatory agreements to support transitions from development to stabilized operations, including lease-up, financial stabilization, and conversion to permanent financing.

Benefits

• Medical HMO coverage is free for employee-only coverage, with a Medical PPO buy-up available.
• Dental and vision coverage is free for employee-only coverage.
• Accrual of 22 days of paid time off in the first year of employment.
• 13 paid holidays.
• 2 personal days.
• Sick time.
• ORCA regional business passport.
• Employer-paid basic life insurance and disability insurance.
• SupportLinc employee assistance program.
• Medical Flexible Spending Account (FSA) and Dependent Care FSA.
• Retirement through employee contributions to the Department of Retirement Systems Deferred Compensation Program and an employer contribution of 2% annually through Fidelity SEP IRA.