1 - 3 years
Asset Manager - Low Income Housing Tax Credit (LIHTC) experience
Agoura, Hills, CA
A $2 billion developer, general contractor, and owner of diverse residential real estate projects is currently seeking a Low Income Housing Tax Credit Asset Manager in the Agoura, Hills, CA area. The ideal candidate will possess 3-5 years of experience in Low-Income Housing Tax Credit (LIHTC) asset management working for a General Partner. This position reports to the Director of Asset Management.
Responsibilities of the Asset Manager
- Perform review of monthly property financial statements, including analysis of balance sheet, income statement, and variance report, to support portfolio performance reporting for senior management, lenders and investors.
- Assess project and partnership risk factors as they pertain to compliance with Section 42 (LIHTC) provisions, terms of the partnership agreement, loan documents, LURAs, QAPs, and tax credit application.
- Analyze property performance, valuation, market trends and operational strengths and weaknesses to inform strategies for maximizing value to the company.
- Provide operational feedback to Construction and Development teams to inform design, leasing, financing and disposition strategies for new development projects.
- Support due diligence efforts related to the acquisition, capitalization and disposition of assets.
- Coordinate regular asset calls and site visits with property management teams to ensure goals and budgets are being met, and if not, determine strategies for corrective action.
- Negotiate and monitor contracts including leases, management agreements, vendor contracts, utility contracts, etc. to protect ownership rights and ensure contract compliance.
- Establish strategies for the resolution of insurance claims and tenant legal proceedings related to non-payment, illegal, and fraudulent activity at the property and/or tenant level.
Requirements of the Asset Manager
- Bachelor’s Degree with a concentration in Real Estate, Finance, or Business
- Advanced degree preferred but not required
- 3-5 years of relevant experience in multi-family asset management (General Partner side)
- Experience with Prolink or Integratech asset management software a big plus
- Working knowledge of Section 42 (LIHTC) principles and requirements
- Strong analytical and quantitative skills with emphasis in financial analysis
- Understanding of real estate accounting principles and financial reporting procedures with ability to analyze variances
- Able to read, analyze, and interpret complex business documents including leases, financial reports, contracts, loan documents and regulatory agreements
- Proficiency with Microsoft Office suite. Strong understanding of Excel is a must
- Some travel may be involved
- A criminal background check and review of current driving record may be required
Benefits for the Asset Manager
- Health/Dental/Chiropractic coverage available for individual after three months. Dependents can be covered at employee’s expense.
- Three weeks Paid Time Off annually (after 30 days) for the first six years.
- Full health coverage and benefits (after 90 days).
- 401(k) retirement plan (after six months).
- Life Insurance.
- Eight paid holidays.
- Discretionary bonus based on individual and company performance
Job ID: 252875095