National Equity Fund, Inc. · 9 hours ago
Asset Manager (Central Region)
Greater Chicago Area
Full-time
Onsite
Senior Level
5+ years expNational Equity Fund, Inc. (NEF) is a leading non-profit syndicator of low-income housing tax credits (LIHTC), seeking an Asset Manager to conduct a wide range of new business initiatives. The role involves managing all property and asset management issues to ensure the continuous delivery of tax credit benefits and projected passive losses throughout the life of the lower-tier partnership.
ConsultingFinancial ServicesProperty ManagementReal Estate Investment
Responsibilities
Analyze the financial feasibility of investment proposals from the standpoint of property and asset management. Coordinate with other team members to review and analyze all transactional plans related to on-time delivery of units and long-term operating success. Work with the Team throughout the acquisitions process to identify and mitigate risks in such areas as operating budgets, reserves, development timelines, etc
Establish and maintain relationships with General Partner’s staff so that mutual expectations are established and met. Communicate and interpret the management, documentation, and reporting obligations as specified in the partnership agreement
Manage construction, lease-up schedule, cost certification, and 8609 executions to assure on-time delivery of first-year credits and intervene when appropriate. Manage disbursement of construction, developer fee, and reserve funding equity payments
During the compliance period, manage operations through statistical analysis and on-site inspections for early identification of potential issues. Provide technical assistance in the area of project performance and related managerial reports to ensure continued receipt of reliable information, especially as it pertains to tax credit benefits and NEF’s ability to deliver and report those benefits to investors. Based upon the review of project data designate an appropriate risk rating, based on NEF’s criteria. If warranted, develop action plans to mitigate identified risks
Continually assess project and partnership risk factors as they pertain to compliance with Section 42 (LIHTC) provisions, and partnership agreement conditions. Oversee compliance reviews and follow up to deficiencies or 8823 filings. Assure that insurance coverage is adequate and continuously in force, mortgages are not in default and there are no mechanic liens or other non-permitted encumbrances. Perform project inspections, follow up on code violations or other health and safety conditions, and determine future capital needs and their financial impact
Along with fellow Team members, LISC, and other intermediaries, establish strong, productive working relationships with project sponsors, lenders, and municipal and allocating agencies. Cultivate relationships conducive to information sharing and problem-solving. Provide exemplary customer service. Employ customer retention strategies to seek ways to extend NEF’s services beyond the current transaction
Undertake special projects as assigned
Qualification
Required
Bachelor's degree in real estate finance, economics, business, accounting, or related field
Strong track record of asset management
Knowledge of multifamily real estate operations, including market analysis; property management; finance; marketing and leasing; budgeting; financial reporting; and compliance with financing covenants or regulatory agreements
Minimum 5 years' responsible experience in asset management, property management, or real estate finance
Keen analytical skills
Proven ability to readily recognize, investigate, interpret and communicate warning signs of potential problems
Strong financial analysis knowledge and skills required
Proven problem-solving abilities to devise intervention strategies
Demonstrated successful relationship building with colleagues and customers
Computer skills in word-processing, spreadsheet, and presentation software
Self-starter – Someone who exhibits the drive and resourcefulness to work with minimal direction and day-to-day support from the functional area
Creative problem solver – Individual demonstrating an ability to quickly grasp the business issues of a situation and develop the best solution
Team-oriented – Collaborative individual who is motivated by working effectively with others and forging consensus
Leader – Someone who can influence others to his/her way of thinking
Strong presentation skills – An outstanding communicator, both in writing and verbally
Ability and willingness to travel
Relationship builder – Individual has strong relationship-building and networking skills
Diverse and adaptable – Comfortable in working in a fast-paced, multi-task environment within a cross-functional team
Preferred
Master's degree
Experience with or technical knowledge of Section 42
Benefits
Comprehensive benefits package
Company
National Equity Fund, Inc.
National Equity Fund, Inc.
51-200 employees
Funding
Current Stage
Growth StageLeadership Team
Matthew Reilein
President and CEO
Recent News
Company data provided by crunchbase