Stone Beam Development · 2 months ago
Real Estate Asset Manager
Greater Chicago Area
Full-time
Onsite
Mid, Senior LevelStone Beam Development is a mission driven real estate development company focused on preserving and strengthening affordable housing communities across the United States. The Asset Manager is responsible for overseeing the financial performance, operational efficiency, and long term sustainability of the company’s affordable housing portfolio, ensuring properties are well managed and aligned with the company's mission.
Real Estate
Hiring Manager
Joseph V. Walsh
Responsibilities
Monitor and analyze financial and operational performance across the company’s affordable housing assets
Develop and implement strategies to enhance asset value and optimize cash flow
Identify risks and opportunities within the portfolio and create mitigation plans
Oversee budgeting, forecasting, and financial reporting for each asset
Ensure compliance with financing agreements, including tax credits, HUD regulations, state programs, lenders, and equity partners
Work with leadership to establish and track key performance indicators related to asset performance
Collaborate with third-party property management firms to ensure operational efficiency and high occupancy rates
Monitor maintenance, capital improvement projects, and overall property conditions
Ensure adherence to all local, state, and federal regulations governing affordable housing assets
Serve as the primary liaison between the company, lenders, investors, and regulatory agencies
Prepare and present asset performance reports to stakeholders
Develop and maintain strong relationships with lenders, syndicators, and compliance agencies
Assist in identifying and evaluating new investment opportunities aligned with the company’s mission
Develop long term asset management strategies to maintain and enhance the portfolio’s value
Contribute to the overall strategic direction of the company’s real estate holdings
Improve Net Operating Income across the portfolio through operational efficiencies
Maintain high occupancy rates and minimize tenant turnover
Ensure timely and accurate financial reporting
Maintain compliance with affordable housing programs, including Low Income Housing Tax Credit and HUD requirements
Streamline communication and reporting processes with property managers and stakeholders
Oversee capital improvement plans to extend the longevity and sustainability of properties
Provide transparent and accurate reporting to investors and partners
Build relationships with industry leaders, policymakers, and affordable housing advocates
Qualification
Required
Strong understanding of asset management principles, financial modeling, and budget analysis
Familiarity with affordable housing regulations, including LIHTC, HUD, and state tax credit programs
Ability to analyze market trends, operational reports, and financial statements to make data driven decisions
Strong communication skills for interacting with investors, lenders, and regulatory agencies
Proactive approach to identifying challenges and implementing effective solutions
Ability to develop and execute long term asset management strategies
High level of accuracy and attention to detail in financial reporting and compliance matters
Company
Stone Beam Development
It is our mission to preserve small to mid-sized affordable housing communities across the country.
2-10 employees
Funding
Current Stage
Early StageLeadership Team
Joseph V. Walsh
Partner, CEO
Kent Frayn
Partner, President
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