Vice President Asset Management

Reports to:

General Partner Representative Department:
Asset ManagementFLSA Status:
Exempt Direct Reports:

Asset Manager

Employment type:

Full-time Position Summary

The Vice President of Asset Management is a senior executive operating on behalf of various affiliated General Partners (“GP”) and responsible for maximizing the long-term value, financial performance, operational excellence, and risk-adjusted returns of the GPs’ mixed-income multifamily and senior housing portfolio. This position provides strategic oversight of assets throughout their lifecycle—from predevelopment, construction and lease-up through stabilization, operations, recapitalization, refinancing, preservation, and disposition.

Reporting directly to the GP Representative, the VP serves as the leader for the GP’s asset management function, and in the case of Company assets, partners closely with Development, Finance, Construction, Legal, Property Management, and Investment Management to achieve investment objectives while ensuring the preservation of affordability, regulatory compliance, investor capital, and enterprise risk management.

In addition to portfolio oversight, this executive supports the GP Representative’s consulting to the Company on its Enterprise Risk Management program, providing insurance and property related litigation, claims management, and operational risk mitigation, ensuring that both corporate and asset-level risks are proactively identified and effectively managed.

• Update Asset Management Fee Schedule for each asset and GP relationship.
• Develop and execute asset-specific business plans designed to maximize long-term value, operating performance, and investor returns.
• Oversee financial performance, operating results, occupancy, leasing trends, reserve adequacy, capital expenditures, debt compliance, and overall portfolio health while identifying opportunities to improve net operating income, reduce expenses, preserve affordability, and enhance asset value.
• Establish policies, operating standards, and performance metrics that promote accountability, continuous improvement, and operational excellence and provide regular portfolio performance reporting and strategic recommendations to the General Partner.
• Serve as a strategic advisor to the General Partner, contributing portfolio investment strategy and long-term portfolio value creation.

• Establish performance expectations and accountability for financial results, resident satisfaction, maintenance standards, regulatory compliance, and operational excellence across the portfolio assets.
• Evaluate management company effectiveness through recurring reviews of the assets against annual operating budgets and implement corrective strategies for underperforming assets while supporting the application of best practices across the portfolio.
• Ensure the portfolio remains in full compliance with all applicable affordable housing regulations, including LIHTC, HUD, HOME, Bond, and state housing finance agency requirements.
• Collaborate with internal compliance teams and regulatory agencies to preserve tax credits, maintain affordability commitments, successfully navigate audits and inspections, and minimize regulatory risk.

• Maintain executive relationships with institutional investors, lenders, syndicators, and JV partners.
• Consistent with approved asset-specific business plans, collaborate with the Company’s Investment Management department, hired by the GP, to:

· Lead all portfolio capital events, including refinancings or debt restructurings, recapitalizations, preservation transactions, partnership restructurings, investor buyouts, and dispositions.

· Direct hold-versus-sell analyses, oversee valuation activities, negotiate transaction terms, coordinate due diligence, and execute strategies that optimize portfolio performance and long-term ownership objectives.

· Oversee construction-to-permanent loan conversions, tax-exempt bond conversions, permanent financing, equity installment funding, cost certifications, investor adjusters, and…