Asset Manager- Office, Hayward CA

Job Details

Level: Experienced

Job Location:

Central Office
- Hayward
- Hayward, CA 94541

Position Type:
Full Time Education Level: Not Specified Salary Range: $ - $ Salary Travel Percentage:
Negligible Job Shift: Day Job Category:
Accounting Pay Range:
Minimum $ - Maximum $

The Asset Manager is responsible for monitoring the operational and financial performance of Eden’s portfolio, benchmarking, investor and lender relationships and acquisition, refinancing and rehabilitation necessary to preserve Eden’s portfolio. The Asset Manager works closely with Senior Asset Manager and/or Director of Asset Management to identify and implement long term strategies to improve property performance to meet organizational objectives.

Internal:
The Asset Manager reports to the Senior Asset Manager or Director of Asset Management. He or she works closely with all Property Management personnel (off-site as well as on-site) and all staff in the central office.

External:
The Asset Manager will routinely interact with outside vendors, Regulatory Agency personnel, lenders, and investors.

• Closely monitor and consistently report on the operational and financial performance of the portfolio of properties relative to budgets as well as development proformas.
• Responsible for third party property management relationships and monitoring the performance of the properties they manage. Will review budgets, financials and audits and seek improvements to be in line with projections and owners’ objectives.
• Work closely with property management to assure financial performance of properties against budgets meets organizational objectives.
• Actively participate in the annual property budgeting process. Review drafts prepared by property management and proposed changes or solutions to achieve property’s strategic goals
• Review drafts of annual financial statement audits to monitor compliance with financial reporting requirements from outside parties
• Prepare financial evaluation and recommendation for any portfolio-wide initiatives including development proforma budgets, benchmarking, and utility analysis.
• Monitor all aspects of partnership performance of Eden’s Tax Credit portfolio including but not limited to status of proforma, equity accounts, future buyouts, debt refinancing and capital planning.
• Expertise in using proformas to evaluate options for refinance, buy-outs, and syndications/re-syndications of existing owned properties that meet company financial objectives.
• Research partnership agreements, financing documents, regulatory agreements, tax returns and other sources to determine ownership objectives.
• Provide constructive input to Property Management when adverse performance trends arise and actively participate in developing corrective management plans.
• Responsible to coordinate and implement all aspects of refinancing or partnership buyouts up to and including rehabilitation, refinancing and re-syndication from funding through construction and final investor payment.
• Work with Development and Property Management to create accurate proformas and long-term financials plans for new properties.
• Respond to various requests for information from Regulatory Agencies, lenders and investment partners.
• Coordinate transition from development to operations including document transition, creation of property binders, regulatory compliance, budgeting, LP payment and 8609 processing.
• Perform other assignments and duties as assigned.
• Actively participate in our culture of inclusivity.

Directly supervises one or more employees in accordance with the organization’s policies and applicable laws. Responsibilities include interviewing and training employees; planning, assigning, and directing work; appraising performance; rewarding and disciplining employees; and addressing complaints and resolving problems.

Strong experience in affordable housing and/or multi-family residential real estate finance preferred.

• Ability to prepare financial feasibility analyses, conduct research, and prepare narrative reports and…