Asset Manager - Eagle, ID
The Pacific Companies (TPC), named by AHF Magazine as a national Top 10 Affordable Housing Developer, is seeking an enthusiastic, efficient, organized and ambitious individual to act as an Asset Manager.
The Asset Manager will assist in the oversight of a portfolio of Low-Income Housing Tax Credit Properties and Market Rate Properties through site visits, financial review, dispositions and problem resolutions as needed.
Asset Manager Responsibilities:
• Support the Chief Portfolio Officer.
• Coordinate with other departments including finance, construction, architecture and accounting to ensure accurate reporting and compliance with all agreements.
• Coordinate reporting requirements to partners, lenders, syndicators and investors.
• Oversee Fusion software data and input for your portfolio.
• Read, interpret, and understand the regulatory requirements of the Low-Income Housing Tax Credit (LIHTC) program, as promulgated within Section 42 of the IRC. Understand the implications of this program, and how they impact the operations of rental housing.
• Identify and analyze real estate market factors that impact rental apartment performance, in various market types [urban, suburban & rural] and various market conditions [declining, weak, stable, improving or strong].
• Assist in the coordination and oversight of the annual cash flow projection process for the team, and work with staff to ensure adjustments are reasonable and clearly explained.
• Conduct project site visits, review property management companies and practices.
• Identify, prioritize and follow-up on problems/issues with projects and/or credit, and work with general partners to help resolve issues.
• Identify and prioritize financial issues for resolution.
• Work with Management Companies to review to make sure information is accurate for monthly financials and rent rolls in Fusion, annual budgets, tax returns and audit reviews.
• Provide guidance on requirements for post-closing changes, working with the team to ensure documentation is adequate, and completed timely, staying in the loop on any issues.
• Dispositions – work with Chief Portfolio Officer on the sale of properties and work with management companies during the sale and transition.
Asset Manager Required Experience:
• Bachelor’s Degree or equivalent work experience
• 2-5 years of Financial/Banking/Lending Knowledge
• Proficiency in Excel, Outlook and Word
• Ability to manage multiple commitments, calendar and deadlines
Asset Manager Preferred Experience
• Real Estate or Title experience
• Asset Management experience
Position would require a minimal amount of travel.