Asset Manager

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Full Time Regular Professional Las Vegas, NV, US

15 days ago Requisition

Summary

Duties and Responsibilities:

The Asset Manager works closely with Real Estate Development, Finance, and Property Management teams to ensure the long-term financial and physical sustainability of the organization’s portfolio. Key responsibilities include interacting with investors, lenders, regulatory and government agencies to fulfill reporting requirements and obtain transaction approvals.

Essential Functions and Work Duties:

The following essential functions of this position are performed personally, in cooperation with the supervisor, and/or in coordination with other staff. Additional work functions and duties may be assigned.

• Responsible for an assigned property portfolio consisting of new, re-syndicated and stabilized properties acting as primary contact for investors and lenders.
• Coordinate all responses to questions and requests from investors/lenders regarding assigned portfolio including coordination of site inspections.
• Ensure timely submission of financial reports and other reporting requirements to partners, lenders, regulatory agencies, and other interested parties. Research reporting requirements for new partnerships and update the master reporting calendar.
• Create and maintain the monthly unit tracker, tax credit calculation estimates and lease-up reporting on new and re-syndicated projects for internal use as well as investors and 3 rd party auditors. Create the unit mapping worksheet for new projects and collaborate with the Director of Compliance and the VP of Asset Management to assign set-asides to each unit.
• Collaborate with the Real Estate Development and Property Management teams to create proformas and long-term strategic plans for new properties. Perform analyses comparing actual to proforma.
• Collaborate with the Property Management, Finance and Asset Management teams to prepare annual operational budgets for assigned properties focused on optimizing property revenue and managing expenses to maximize cash flow and economic benefits to Nevada HAND, its affiliates, and investors. Ensure timely submission to Investment Committee, investors and lenders as required.
• Assist with management of the physical health of the portfolio by participating in property site visits. Assist with the management and dissemination of site inspection reports and analyses to the Property Management team, Executive Leadership Team, and other appropriate parties. Follow up using various methods (e.g., reviewing financial reports for purchases, conducting re-inspections, reviewing documents provided by staff) to ensure that any needed improvements are completed.
• In collaboration with the Property Management team, Resident Services team, and other appropriate parties, develop annual capital budgets for each assigned property.
• Calculate, review and monitor property cash flow distributions for assigned properties in accordance with each respective limited partnership agreement (LPA). Create cash flow calculations for new or re-syndicated properties following the requirements stated in the Limited Partnership Agreements (LPAs).
• In collaboration with appropriate teams, comprehensively analyze ongoing property financial reports to problem-solve and proactively affect necessary changes for under-performing assigned properties.
• Develop asset management plans for assigned properties to correct impediments to property cash flows as needed; facilitate plan status updates.
• Maintain and utilize asset management systems, tools, and financial models to forecast and communicate long-term outcomes based upon current property results.
• Assist in the creation and refinement of the reporting procedures, database, and other informational systems used to collect data, track projects, enhance communication, and disseminate findings and results.
• Collaborate with the Real Estate, Property Management, and Finance teams to create, monitor and maintain project deal book information within the…