Associate Asset Manager (106 views)

Laguna Beach, CA
July 16, 2021 2021-09-14
Job Description

ORGANIZATION OVERVIEW

Based in Laguna Beach, the Foundation for Affordable Housing has been in service for 30 years. As a nonprofit organization, our primary purpose is to create safe, comfortable, high-quality homes that uplift the lives of our residents and enhance the surrounding neighborhoods. The Foundation has assisted in developing more than 200 communities (approx. 22k AUM) with an aggregate value of $2B+. We focus on the financial and environmental sustainability of our residential communities, allowing us to build comfortable, affordable homes for those who need it most.

Our skilled team of real estate professionals have a deep expertise in residential asset management, acquisitions, property tax exemptions, accounting, and supportive services. Our in-house asset management team takes an active, hands-on approach by optimizing cash-flow and minimizing risk exposures by evaluating challenges and opportunities. In summary, our asset management group monitors the Financial, Physical and Regulatory Health of our Assets during their entire asset life cycle. We are looking for a Multifamily Asset Manager with extensive compliance housing and operations experience to provide the day-to-day support. The Asset Manager will be primarily responsible for various asset management functions.

ASSET MANAGEMENT ASSOCIATE POSITION OVERVIEW
Essential Functions

  • Ability to collaborate with upper/lower tiers partnership representatives, property managers, and housing agencies
  • Review property level financials and operating information to ensure for proper asset stabilization
  • Experience with specialized housing programs such as Sec 42 CTCAC, RD 515, HUD, HCD, AHP, Bond and CalHFA
  • Assist with developing special procedures and risk mitigation policies to handle various debt covenants and agency reporting obligations to ensure properties remains in good standings
  • Collect, analyze, and synthesize relevant operating, financial & proforma reports and formation documents (partnership agreements, loan documents, PMA’s, regulatory and operating agreements)
  • Monitor capital improvements, draw requests and replacement reserve reimbursements
  • Quality control of deliverables (monthly, quarterly, annual, and ad hoc) including review of all financial data, variance explanations, compliance reporting, audits, etc.
  • Achieved department benchmarks and monitor results in accordance with best practices and various formation documents
  • Conduct site assessments to ensure the affordability and proper perseveration are upheld by our development partners and property management representatives

General Education or equivalent

  • 2 -3 years of experience in real estate, affordable housing, finance, or property management preferred
  • 4-year college degree preferred
  • Strong computer literacy including fluency with Microsoft Office (Excel, Word, Outlook and PowerPoint)
  • Excellent analytical, research, communication (written and verbal), and organizational skills
  • Desire to multi-task in a complex, high-volume environment and competency to work with all levels of management and personnel on critical projects