AVP Asset Management

Overview
April Housing is a leading owner and operator of high-quality affordable housing throughout the United States. Founded in 2022 and headquartered in Los Angeles, April Housing is the asset management business that oversees Blackstone's affordable housing and LIHTC portfolio. April oversees a portfolio of over 85,000 affordable housing units in approximately 650 communities. April Housing seeks to preserve critical affordable housing stock while providing best in class management and high-quality housing. April is committed to being a fair, transparent, and responsible owner.

April Housing’s long-term commitment to owning affordable housing is supported by Blackstone Funds, predominantly BREIT, a non-listed REIT. This perpetual capital vehicle provides April with a patient and flexible source of capital and plays a critical role in enabling the creation and preservation of more affordable housing. In addition to managing a growing portfolio, April Housing will ensure assets in the existing portfolio remain affordable and in compliance with all rent regulations while making significant improvements and aligning the operations with April Housing's Standards of Excellence in Residential Operations.

In its pursuit of excellence, April Housing is looking for individuals who share in its mission to provide high-quality housing to affordable residents.

We are seeking an Assistant Vice President/Regional Asset Manager to join the company’s Asset Management team. Working in partnership with Blackstone and April Housing leadership, the AVP will assist in implementing the strategic direction for their region and will be responsible for maximizing the operating performance and value of their assigned portfolio.

What you will do:

Strategic Leadership

• Develop and implement asset management strategies to maximize property performance, cash flow, and portfolio value while maintaining affordability commitments.
• Prepare investment recommendation reports for new construction and rehabilitation including a market assessment, proposed construction scope, and accompanying operating proforma

Portfolio Oversight

• Oversee a regional portfolio of affordable housing properties, ensuring compliance with HUD, LIHTC, and other federal, state, and local regulatory requirements.
• Monitor and analyze property performance metrics, including occupancy, rent collections, operating expenses, and capital needs.
• Conduct regular property and market evaluations to identify opportunities for improvement or risk mitigation.
• Physically inspect each property within their portfolio with regular cadence

Financial Performance

• Manage property budgets and long-term financial planning, ensuring alignment with ownership goals.
• Collaborate with property managers to optimize NOI (Net Operating Income) and meet financial targets.
• Oversee annual audits, financial reporting, and tax credit compliance submissions.
• Analyze neighborhood or market conditions and trends, identifying the potential impact on the existing portfolio

Team Development and Collaboration

• Partner with property management companies to ensure consistent execution of operational strategies.
• Collaborate with Development and Acquisitions teams to ensure seamless transitions of newly acquired or developed properties into the portfolio.

Compliance and Risk Management

• Identify and mitigate potential risks, including physical, financial, and regulatory challenges.
• Develop and implement corrective action plans as needed to address performance or compliance issues.

Qualifications

• Education: Bachelor’s degree in Business Administration, Finance, Real Estate, or a related field preferred
• Experience: Minimum 7 years of experience in asset management, real estate, or property management, with a strong focus on affordable housing.
• Demonstrated understanding of LIHTC, HUD programs, and other affordable housing regulations.
• Strong financial acumen, including experience with financial modeling, budgeting, and reporting.

Key Skills and Competencies

• Understanding of affordable housing programs and compliance requirements.
• Strong analytical and problem-solving skills with a data-driven approach.
• Excellent interpersonal and communication skills to collaborate with a diverse range of stakeholders.
• Strategic thinker with a proactive and results-oriented mindset.
• Ability to manage multiple priorities in a fast-paced environment.

What we offer:

At April Housing, we are committed to a singular mission: providing best-in-class management and high-quality housing for residents who earn less than the area’s median income. You will be joining a dedicated team who live this mission every day.

And we’re growing! “April,” which means “to open,” aligns with our goal of opening new paths to expand the supply of affordable housing and close America’s affordability gap. Over the next decade, we intend to invest over $500 million to improve our communities while keeping rents affordable for our residents.

And of course, we offer competitive pay and a full slate of benefits.

Base Salary Range:

$140,000.00 To $150,000.00. This represents the presently-anticipated low and high end of the Company’s base salary range for this position. Actual base salary range may vary based on various factors, including but not limited to location and experience.

Total Direct Compensation: This job is also eligible for discretionary bonus and incentive compensation on an annual basis.

EEO Statement

April Housing is an equal opportunity employer. In accordance with applicable law, we prohibit discrimination against any applicant, employee, or other covered person based on any legally recognized basis, including, but not limited to: veteran status, uniformed servicemember status, race, color, caste, immigration status, religion, religious creed (including religious dress and grooming practices), sex, gender, gender expression, gender identity, marital status, sexual orientation, pregnancy (including childbirth, lactation or related medical conditions), age, national origin or ancestry, citizenship, physical or mental disability, genetic information (including testing and characteristics), protected leave status, domestic violence victim status, or any other consideration protected by federal, state or local law. We are committed to providing reasonable accommodations, if you need an accommodation to complete the application process, please email talent@revantage.com

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