Listing Details


 

Interested and qualified candidates, please submit your resume to:

Ellen Haber, Managing Director – ellen@kelleraugusta.com – 917.842.0328

Director, Head of Portfolio Management

New York, NY

JOB DESCRIPTION

Client Overview:

Our client is focused on the acquisition, pre-development, design and financial structuring of mixed-use, mixed-income projects in New York City, Westchester County, Long Island, New Jersey, Baltimore, Washington DC and Atlanta. Since 2003, our client has developed over $1.8B in mixed-income housing comprising over 3,400 units and over 620,000 SF of commercial space. Currently, they have over 6M SF of ground up development in its pipeline.

Job Overview:

Perform portfolio management of our clients existing properties within a small team of real estate development professionals for fast growing real estate developer, owner, and operator, that manages mixed income, mixed use residential developments in New York City, Westchester, Long Island, Baltimore, Atlanta, and Washington DC. The position will intersect and coordinate with Real Estate Development, Property Management, and Accounting and provide compliance reporting to Investors, lenders, municipal and state agencies, and Low-Income Housing Tax Credit Investors and Syndicators.

Required Responsibilities:

  • Develop Asset Management policies and procedures, implement best practices, and build out Asset Management team as needed.
  • Work strategically with property management to prepare operating budgets and implement organizational and property specific changes to improve operational efficiency.
  • Work with property management to oversee lease-up of new construction assets and turnover of units in existing portfolio.
  • Manage relationships with funding agencies and lenders and ensure initial and continued tax credit compliance according to projects' regulatory agreements.
  • Identify opportunities for re-financing and apply for capital improvement funds.
  • Maintain regular contact and obtain reports from property management and accounting to assess performance.
  • Work with property management to develop apartment rental policies and procedures and ensure compliance.
  • Plan for and provide guidance in implementing the rehabilitation of existing housing properties.
  • Oversee the use of replacement reserve accounts.
  • Coordinate agency-wide regulatory audits.
  • Plan and oversee management of the year 15 process for LIHTC properties.
  • Prepare energy contracts with ESCO providers as required.
  • Familiarity with federal, state, and local government funding sources for capital and operating needs of multi-family housing, and community facilities (e.g. LIHTC, HUD programs, etc.).
  • Understands current and anticipated federal, state, and local, regulatory requirements for property and financial assets and ensures that assets are compliant with regulatory standards.
  • Ensures compliance with all municipal regulations (e.g., building registrations}, community, and neighborhood support and approvals including attending meetings related to housing development.
  • Identifies risks to assets (potential failures); identifies consequences of asset failures; and plans for ways to minimize the consequences of failures.

Required Qualifications/Skills:

  • At a minimum 7 years of work experience in asset management and an undergraduate degree in business, finance, accounting, real estate, urban planning, or related field is required.
  • Experience with managing a portfolio of real estate-based assets.
  • Proficiency in analyzing financial statements.
  • Experience with reviewing real estate proformas, especially for rental housing.
  • Excellent written and verbal communication skills are required.
  • Strong computer aptitude skills, including knowledge of Microsoft Office Suite Programs are essential – YARDI a plus.
  • Excellent skills in managing multiple tasks while exhibiting a strong attention to organization and detail.
  • Ability to manage people and work effectively in a team environment.