Asset Manager

About The Community Builders, Inc.

Join a growing organization that is strengthening neighborhoods across the nation! The Community Builders, Inc. (TCB) is one of America's leading nonprofit real estate developers and owners. Our mission is to build and sustain strong communities where people of all incomes can achieve their full potential. We realize our mission by developing, financing and operating high-quality housing and implementing neighborhood self-help initiatives to drive economic opportunity for our residents. Since 1964, we have constructed or preserved over 320 affordable and mixed-income housing developments and secured over $2.5 billion in project financing from public and private sources. Today, we own or manage more than 10,000 apartments in 14 states and Washington, D.C. We are headquartered in Boston with regional hubs in Chicago and Washington.   We are seeking a talented Asset Manager to join our team!

Position Description:

Located in TCB’s Boston office at 95 Berkeley Street, the Asset Manager will have asset management responsibilities for a portfolio of affordable housing properties.

Essential Functions:

• Rating properties on a variety of dimensions (operational performance, physical condition, program compliance, and strength of market)
•  Identifying Watch List properties and working with property management personnel to prioritize issues and develop action plans to address them
•  Projecting and working to increase cash generated from operations for payment of sponsor debt, fees, and cash flow distributions
•  Identifying properties as candidates for refinancing, resyndication, or other restructuring
• Analyzing long-term property performance against projections
• Maintaining the integrity and quality of data in the property database
•  Identifying all reporting requirements and working with personnel responsible for report distribution to see that requirements are met
• Reviewing and approving annual property budgets
•  Reviewing monthly operating statements
•  Reviewing tax returns and audits for portfolio properties
• Conducting periodic site inspections
• Collecting investor capital contributions
•  Monitoring and resolving property tax issues
• Interacting with internal staff  and external parties  to achieve property goals
•  Participating in the handoff process as properties move from development to operations
• Working independently to continuously increase industry knowledge of team
• Working with the Director of Asset Management and others on process improvement projects within and outside the department

Required Knowledge, Skills and Abilities:

• Strong ability to independently interpret and analyze the business terms included in legal documents and financial projections
• Strong familiarity with real estate, partnership taxation, and the LIHTC program (and other affordable housing programs)
• Strong organizational and time management skills
• Skill in financial analysis using MS Excel
• Strong verbal and written communication skills

Education & Experience:  Bachelor’s Degree Required

Minimum of five to seven years of experience in affordable housing asset management

Demonstrated ability to lead a team and very strong ability to work independently

The Community Builders, Inc. is committed to ensuring diversity in the workplace.  Candidates from diverse backgrounds are encouraged to apply.