Asset Manager

Asset Manager – Job Description

Dakota Partners is a dynamic leader in the creation of housing throughout the eastern seaboard. We are a profitable, mission-driven company utilizing the LIHTC and workforce housing programs along with market-financing to create thoughtfully designed, well-built and energy-efficient communities to serve our residents and the communities they live in. Dakota is active throughout New England and Virginia with plans to expand in the mid-Atlantic region.

Reporting to the Director of Finance and Asset Management, the primary function of the Asset Manager is to oversee all aspects of the Dakota Partners, Inc. property portfolio, primarily LIHTC syndicated multifamily residential, to include some commercial space. The portfolio is comprised of third-party managed stabilized assets, and projects in various stages of development located throughout New England and Virginia, with expansion plans in New York and down the Eastern seaboard. 

Essential Functions:

• Oversee the performance of a portfolio of multifamily properties syndicated through the LIHTC program
• Implement proactive strategies to maximize operational performance that enhance cash flow and improve property valuation for disposition
• Understand regional and metropolitan economic and demographic trends in key multi-family markets
• Establish relationships with management agents, housing agencies, investors, and other key public and private sector players in the region
• Be the point person with third-party property management company for projects in all stages of development
• Be thoroughly familiar with the composition of the portfolio as to physical layout, condition, specific property related issues, onsite property management staff, etc.  Work closely with property management company to address operational issues, staffing and resident program problems at the properties.
• Work with property management company to prepare and approve annual operating budgets for all stabilized properties
• Work with Development Team to ensure coordinated input from Asset Management property management company for projects in planning and development.  Ensure smooth transition to Asset Management
• Ensure that properties achieve required operating benchmarks for release of final equity installments, adjusters, perm loan conversion, etc.
• Work with design team to produce and report results of property surveys for stabilized portfolio
• With the Director of Finance and Asset Management, project future portfolio cash flow distributions
• Respond to special requests for information from investors and internal clients on a regular basis, both through informal interactions and formal presentations
• Participate in team initiatives to improve property monitoring and risk management processes
• Create, prepare, manage and distribute various weekly, monthly, quarterly, and annual reporting internally, and manage external reporting and requests
• Maintain property database

Qualifications and Desired Knowledge:

• Asset Management
• Residential and Commercial
• Affordable Housing
• LIHTC Experience
• Multi-family Development Projects; New and Historic Rehabs
• Finance and Analysis
• Budgets
• Lease ups – Transition from Construction to Operations
• Energy Retrofits

Skills:

• 3+ years of related real estate experience in affordable housing asset management
• Strong analytical skills with a good understanding of real estate investment analysis.
• Excellent verbal and written communication and negotiation skills.
• MS Excel proficient.
• Ability to work in a fast-paced work environment while managing conflicting priorities
• Ability to work independently

Education:

• Minimum of a Bachelor’s Degree in accounting, finance, or business