About this opportunity
The Pacific Companies lists this Asset Manager - Eagle, ID opportunity in eagle, Idaho. Review the employer’s description below for duties, qualifications and application requirements.
Job description
Named as a national, "Top 10" Affordable Housing Developer by Affordable Housing Finance Magazine, The Pacific Companies is a catalyst for growth, deploying comprehensive real estate development capabilities and shaping neighborhoods. With communities across the US facing a shortage of quality housing, The Pacific Companies is seeking ambitious, productive, and trustworthy individuals to join the team. Their commitment to excellence in development and construction ensures that every project meets high standards of sustainability and livability. We are seeking an experienced Asset Manager for the Bay Area who can oversee a growing portfolio of properties. The job would be would require some travel to properties in the Bay Area.
Duties and Responsibilities: Oversees and manages the economic, financial, physical, and compliance needs of their portfolio, including creating strategies for each asset for optimum performance
Collaborate with other departments including finance, construction, architecture, and accounting to ensure all aspects of the assets meet company standards and compliance standards
Researching legal and other pertinent documents (i.e. LPAs, subsidy contracts, loan agreements, tax returns, audits, regulatory agreements, guaranty agreements, cash flow/capital transaction waterfalls, etc) to understand each asset's requirements of Low-Income Housing Tax Credit (LIHTC) program. Understand the implications of the program and how they impact the operations of rental communities
Review detailed financial and operational planning, and budgeting to identify issues for reforecasting or resolution
Work with Management companies and operating software to ensure financials, rent rolls, annual budgets, tax returns, and audit reviews are loaded and accurate
Identify, prioritize, and follow-up on problems/issues with projects and/or credit and work with general partners to help resolve issues
Provide guidance on requirements for post-closing changes, work with the team to ensure documentation is adequate, and completed timely, staying in the loop on any issues
Coordinate with property management, housing authorities, supportive services, project managers, and other development team members to ensure that lease-up, marketing, outreach, and maintenance of waiting lists are handled in accordance with the management plan and all regulatory requirements and, that goals for lease-up are met on time
Work collaboratively to collect data, track projects, enhance communication, and distribute to department and greater asset management team
Conduct project site visits, and review property management companies and practices
Compiles or oversees and tracks the submission of Annual State, Federal, and financial reports as required
Manage relationships with limited partners/investors, lenders, and housing finance agencies on assigned assets
Dispositions-work with the Executive Officer on the sale of properties and work with management companies during the sale and transition
Requirements: Bachelor's degree in Finance, Business Administration, Management, Real-Estate, or related field alternative education and experience qualifications welcome
5+ years of financial or real estate experience, property management, asset management preferred
Preference for multi-family experience (asset management, management, operations, construction/rehab)
Experience in public and private housing asset management/finance programs and related compliance requirements
Ability to multi-task and deal with stress, balance competing demands on time and remote working
Preferred: Strong working knowledge of LIHTC (9%/4%), tax-exempt bonds, HOME funds, Section 8/HAP contracts, and related regulatory structures
Demonstrated ability to read and analyze property-level financial statements, budgets, and variance reports
Experience overseeing third-party property management companies or working in property management
Excellent written and verbal communication skills; comfortable presenting to investors, lenders, and internal leadership
Advanced proficiency in Excel and financial modeling; familiarity with asset/property management software (e.g., Yardi, MRI)
Who can apply
Review the original listing for work authorization, qualifications and employer requirements.