Asset Manager

Salary: $90,000 - $110,000

Overview:

The Asset Manager (AM) is responsible for overseeing a portfolio of affordable housing properties in the construction and rehabilitation phase. Acting as a relationship manager, decision maker, and problem solver, the AM ensures each property is positioned for long-term success.

Reporting directly to the Director of Asset Management, the AM works closely with internal departments, external partners, and third-party property management teams. The role involves conducting financial reviews and analyses, scheduling and attending site visits to monitor progress and compliance, and collaborating with joint venture partners, lenders, and property managers to support stabilization and operational viability.

This position requires a proactive approach, strong analytical skills, and the ability to balance financial performance with mission-driven outcomes to secure the long-term viability of each asset.

Position Responsibilities:

• Oversee a portfolio of affordable assets, including Low Income Housing Tax Credit, HUD, Tax Exempt Bond, Home, and Rural Development properties in the construction/rehab phase. Asset Manager will be the point person for third-party management companies within their portfolio.
• Work closely with colleagues to analyze monthly financial reports, monitor budgets (compared to actuals), and review rent rolls. Monitor overall operational performance.
• Work with Compliance to make sure tax credit delivery meets investor requirements.
• Review and approve annual budgets for reasonableness upon submission by management companies.
• Evaluate management companies performance on a quarterly, annual, or as-needed basis.
• Develop an Action Plan in conjunction with the other key partners or property management for concern/watch list properties, monitoring the effectiveness of the Action Plan on a monthly or more frequent basis.
• Conduct all required site visits. Concerned and watch list properties may require more frequent site visits.
• Review partnership agreements, regulatory agreements, financing documents, and other sources to determine financing structures and constraints, as needed.
• Ascertain and work to resolve problems through collaboration with partners, property managers, lenders, and governmental/regulatory entities.
• Review year-end financial audits.
• Complete Special Projects assignments that are communicated to the AM by the Department.
• Participate in portfolio review discussions within the department, stakeholders, or management company.

Qualifications:

• The ability to understand technical reports, including but not limited to appraisals and limited partnership agreements, during the construction phase.
• Must have strong financial analysis, verbal, and written communication skills
• Must have strong computer skills and thorough knowledge of Outlook, Excel, and Word.
• Ability to multitask and manage multiple priorities.
• Ability to discuss critical paths, complex schedules, and related matters with internal and external stakeholders.
• Work closely with third-party property managers to provide direction for and oversight of business plans, budgets, forecasts, leases, analysis, and approvals.
• Must have an understanding of Low-Income Housing Tax Credit (LIHTC) and HUD experience.
• Knowledge of multi-family real estate operations.
• Maximize total return for each assigned asset through the analysis of property efficiencies and identifying opportunities for improved performance.
• Manage cash flow, distribution analysis, and investment projections, if applicable.

Education and Experience:

• Bachelors degree in Real Estate, Finance, Accounting, or related subjects.
• 3-5 years of experience in a real estate development or asset management related field.
• Experience with Low-Income Housing Tax Credit industry is preferred.

The above information is intended to describe the general nature and level of work being performed by employees assigned to this job. It is not intended to be an exhaustive list of all responsibilities, duties, and skills required.

Benefits & Opportunities:

• WNC is an equal opportunity employer that is committed to a diverse and inclusive workforce that considers all qualified applicants without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status.
• WNC offers a competitive benefits package which includes medical, dental, and vision insurance, paid time-off, 401k match, life insurance, and long-term disability.

The compensation listed represents the expected salary for this position. A candidate's work experience and other job-related factors will also be considered.