Job Description

Director of Asset Management (Affordable Housing) Join to apply for the Director of Asset Management (Affordable Housing) role at Bisnow . Our SelectLeaders' client is a leading nonprofit developer of affordable homes, creating and managing a range of high-quality, affordable housing. They are seeking a Director of Asset Management. This role reports to the Senior Vice President of Asset Management and Compliance and will supervise a team of three to four staff, strategically managing a portfolio of properties in California and the Pacific Northwest. The primary objective is to optimize portfolio performance through strategic, long-term planning while completing short-term projects. Responsibilities include analyzing project and portfolio performance concerning financial, operational, and physical health aspects. The DAM collaborates closely with cross-functional teams such as Property Management, Accounting, Legal, Insurance, and Development, and reports on portfolio performance to senior management monthly, quarterly, and annually. Responsibilities Oversee the organization’s portfolio, ensuring properties meet or exceed financial expectations and are maintained to company standards. Manage pre-stabilization properties to ensure they meet financial and physical standards. Participate in lease-up activities for newly constructed projects. Manage a team of asset management professionals. Recommend and implement financial restructuring, including refinancing and investor exit strategies. Administer LIHTC capital accounts via annual analysis and exit tax projections. Collaborate with development teams to identify rehab and re-syndication opportunities. Coordinate rehab projects with Portfolio Rehabilitation and Sustainability Managers. Handle special portfolio projects as assigned. Develop and refine reporting procedures, databases, and informational systems. Think strategically about managing multiple projects simultaneously. Utilize knowledge of real estate development, affordable housing finance, and asset management to work effectively across departments. Financial Analysis Evaluate property plans to ensure surplus cash aligns with long-term cash flow targets. Manage annual budgets and propose solutions for cash-flow issues. Monitor financial performance against budgets and meet investor/lender reporting requirements. Review audits to ensure correct and timely surplus distributions. Ensure properties in operation meet financial projections. Track LIHTC capital accounts through annual analysis and exit projections. Relationship Management Establish and maintain relationships with lenders and investors. Negotiate amendments with partners and lenders. Facilitate approval processes with stakeholders. Organize meetings to review portfolios with investors, lenders, and internal teams, including on-site visits. Prepare annual reports for boards and external partners. Respond to investor/lender inquiries regarding the portfolio. Physical Planning Review long-term capital plans, suggest adjustments, and manage reserve balances. Identify funding needs and oversee major projects to ensure progress. Qualifications Minimum of seven years in asset/property management or affordable housing development, including LIHTC experience. Bachelor's or Master’s degree in a relevant field. Ability to interpret legal documents and financial spreadsheets. Strong operational, financial analysis, and reporting skills. Excellent analytical, administrative, and organizational abilities. Experience working collaboratively and proactively across divisions. Understanding of the owner’s dual social and financial mission. Creative problem-solving skills in affordable housing and asset management. Excellent communication skills, both oral and written. Comfort with both portfolio management and development language. Management or supervisory experience preferred; AMS and/or CHAM designation preferred. Salary: $150,000 - $175,000 with bonus structure. #J-18808-Ljbffr Bisnow

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