Affordable Housing - Asset Management Analyst

Asset Management Analyst

Hybrid in Seattle, WA

Compensation: $82,000 - $86,000

Medical HMO, dental and vision insurance is free for employee only coverage

Everyone has the right to a quality, affordable home. At Community Roots Housing, this truth drives our work. By embracing community-led development and engaging in deep-rooted partnerships, we're fostering vibrant, equitable communities where everyone has access to safe, affordable and welcoming homes. Today, with 40 apartment buildings – over 2,000 residents -- we continue our commitment to build community with and for people.

We are a top performing, high-capacity not-for-profit public corporation with an innovative portfolio throughout the Seattle area. Our buildings have won numerous awards from HUD, Urban Land Institute, Affordable Housing Finance Magazine, Future wise and other community development awards.

The Asset Management Analyst works closely with asset management, property management, and finance teams in the ongoing monitoring and reporting of portfolio performance to internal and external users. The analyst will also work closely with the asset management and real estate development team in the ongoing implementation of our asset management database that stores a variety of data, documents, and tasks associated with CRH's portfolio of assets.

This role is integral in supporting the achievement of key performance goals across CRH's diverse portfolio of affordable multi-family housing properties including a robust portfolio of commercial space.

Asset Management and Finance

• Works closely with the asset management team to create, review and execute operating strategies for all properties in the portfolio.
• In collaboration with the asset management team, develop and implement standard operating procedures ensuring timely and accurate upload of documents, dates, and key data collected and stored in the organization's Asset Management database, MRI's Investment Central (IC).
• Assist with the development of task tracking tools within the organization's database IC to monitor the financial and regulatory status of existing portfolio, including regulatory agreements, tax credit compliance periods, loan agreement provisions and expiration.
• Assist in the preparation of monthly, quarterly, annual and special/periodic Board, senior management, investor, lender and regulatory agency reporting, as assigned.
• Analyze/investigate monthly property budget-to-actual results by comparing them to proforma and key performance indicators (KPIs) established for each property.
• Monitor property tax billings for accuracy ensuring appropriate valuations and exemptions.
• Support annual property operating and capital projects budgeting processes.
• Support the processes for reserve reimbursement and other capital project funding.
• Ability to understand, catalog, and research key documents (property audits, partnership documents, financing and regulatory agreements, insurance coverages, tax returns, etc.).
• Analyze property leasing activities and conduct routine market and resident demographic analysis to routinely guide property marketing/leasing decisions.
• Conduct periodic property physical and administrative reviews to evaluate property marketability and market positioning, management plan conformance and physical condition.
• Assist with special projects and support the asset management team as requested.
• Lead the Asset Management of a small portfolio of properties as requested.

Property Development

• Provides financial modeling support to Property Development, particularly for low-income housing tax-credit developments, in collaboration with property management.
• Assists with pro forma and governing documents review for new projects in development.
• Analyzes portfolio performance to provide operating assumptions for property development.
• Assists with due diligence related to funding applications, investor and funder negotiations and loan closings.
• Assists with project close-out in conversion from construction to permanent financing.
• Support and train the property development team in the standard process for uploading key documents, dates, and data for all new projects into the organization's IC database.

Minimum Qualifications:

• Bachelor's degree in accounting, finance, urban planning, real estate, business administration or related field.
• Two years' experience in financial analysis, asset management, real estate accounting, real estate finance, real estate lending or related work.
• Demonstrated ability to learn and quickly develop proficiency with software commonly used in real estate and financial reporting, such as MRI Investment Central, Real Page, etc.
• Self-starter, detail-oriented and focused on accuracy, quick learner with strong analytical, problem-solving, organizational, time and project management skills.
• Ability to read, analyze and interpret financial statements and a variety of legal documents.
• Skilled with Microsoft Office applications with…