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BLDG Partners · 2 days ago

Asset Manager (Affordable Housing) - Virginia

Richmond, VA

Full-time

Hybrid

Senior Level

5+ years exp

BLDG Partners LLC is a Southern California based real estate investment firm focused on the preservation of workforce and affordable housing. The Asset Manager will implement best practices in asset management to achieve departmental goals, analyze property performance, and manage third-party property management activities.

Asset ManagementFinancial ServicesReal Estate Investment

Hiring Manager

Guy Penini

Responsibilities

Prepare and present regular reports on asset performance, valuation, and risk assessment to owners, executive team, and other stakeholders

Problem solve property and portfolio level issues through research, analysis and implementation and topics as a key resource to the VP of Asset Management

Prepare market analysis reports, including comparable rents, vacancy, and absorption/supply

Demonstrate a strong understanding and monitoring of key financial and operational Key Performance Indicators (KPIs). Execute underwritten business plans. Successfully manage reserves, lease-up processes, and other financial aspects of the portfolio

Prepare and present detailed financial and operational planning, budgeting, reforecasting, data management, analysis and reporting, ensuring all internal and external financial reporting requirements and deadlines are met while monitoring internal watchlist

Prepare analysis of trends through regular operating metrics while acting swiftly to address budget variances and operational issues via analysis of rent roll, P&L statement and property level reporting Maximize cash flow and total return for each assigned property through the analysis of financial and operational reports to identify opportunities for improvements

Work closely with various third-party agent departments to ensure full data integrity and quality reporting, maintaining an in-depth and up-to-date record of property activity and document management

Create and update quarterly asset management plans for each property helping lead the big picture while assisting in the development and monitoring of strategies to maximize asset values within the portfolio

Complete property inspections as part of monitoring property performance, management execution and property capital needs, funding sources and potential savings opportunities

Present information in a clear and concise manner, ensuring that complex data and recommendations are easily understood by diverse stakeholders. Communicate property performance relative to budget and underwriting with clarity

Develop, foster and maintain relationships with management agents, lenders, contractors, third-party monitors, investors, local and state housing agencies, General Partners and others in the LIHTC industry leveraging the relationship to enhance property and portfolio value, as well as the overall company value

Ensure each asset is in compliance with regulatory agencies and meeting fiduciary obligations to lenders/investors

Qualification

Real Estate ExperienceFinancial AnalysisLIHTC/HUD KnowledgeExcel ModelingProperty ManagementTeam CollaborationCommunication Skills

Required

Bachelor's Degree (BA/BS) in Business, Finance, Real Estate or Urban Planning preferred, though not required

Five years of experience in real estate, accounting, finance, or construction management with relevant affordable housing industry experience and/or certifications

Comfortable navigating and analyzing transaction legal documents, financial projections and financial reports

Ability to discuss critical paths, complex scheduling and related matters with internal and external partners

Strong Excel modeling skills with working knowledge of Smartsheets, Yardi, AIM and/or Realpage

A collaborative team player with a strong work ethic