Asset Manager

Description

Who We Are: Through the development, ownership, and operations of affordable housing properties, Bellwether Housing has been a trailblazer in transforming the lives of lower-income individuals and families in our region. As the largest non-profit housing provider in the Pacific Northwest, Bellwether is a leader in State and local housing policy issues, an innovator in financing and housing development strategies, and a trusted partner to a diverse array of organizations in our community, while providing resident and real estate development services to other mission-driven non-profits around Western Washington.  

Salary: Exempt, $103,145 - $126,066/annually.   

The posted salary reflects the full pay range for this position. Offers made to qualified candidates will be made within this range and will be determined by various factors, including knowledge, skills, experience, qualifications, location, and other factors that would be critical to success in this role. 

Position Overview: The Asset Manager is responsible for assuring the long-term achievement of financial, physical, and regulatory compliance benchmarks established for a portfolio of multifamily affordable housing rental properties at Bellwether. This role requires successful and transparent communication with internal and third-party property managers, fiscal oversight including income maximization and expense control, and preparing budgets and monthly financial analysis. 

Work Schedule: Hybrid, Monday – Friday, 9:00 am – 5:00 pm. The final schedule is to be determined by the supervisor.  

Your Impact:  

• Implement asset management operations plan for the assigned portfolio, making recommendations for process and policy improvement. 
• Create, update, and manage asset management financial models to monitor and track property performance. 
• Support due diligence efforts related to property acquisition, capitalization, refinancing, and disposition. 
• Review draft audits; oversee corrective action, as relevant. 
• Manage LIHTC capital accounts through annual analysis and exit tax projections. 
• Collaborate with the Finance Manager on annual property and capital budget expectations that align with established goals, including rent increases. 
• Provide asset management KPI dashboard and watchlist reports. 
• Assess monthly property operating performance against KPIs across properties, including initial lease-up compliance, comparability analysis, and provide corrective recommendations. 
• Maintain clear understanding of key property documents such as, but not limited to, partnership, regulatory, loan and subsidy documents and their relevant obligations and opportunities. 

Financial Analysis and Reporting: 

• Conduct iterative stakeholder conversations with other teams, investors, lenders and leadership to confer about organizational needs, identify opportunities for optimizing asset performance.  
• Refine and implement goals and objectives to maximize the long-term health of the portfolio and drive superior financial performance. 
• Assist portfolio managers in developing annual building operations budgets to meet targeted debt service coverage ratios and other benchmarks.  
• Monitor and forecast reserve levels, capital accounts, and cash flow.  
• Facilitate approval process with lenders and/or investors for capital work, reserve draws, financing, and other items required under the property's governing documents. 
• Oversee performance, prepare quarterly reports, forecast and dashboards that summarize the financial status of assets for leadership team and board of directors.  

Cross-Departmental Collaboration: 

• Collaborate with Facilities, Project Management, and Property Management to identify, plan, and implement capital projects, and propose projects annually at budget time based upon building CNAs, energy-efficiency audits, and building inspections. 
• Collaborate with insurance adjusters to manage insurance claims. 
• Provide property and asset management expertise to Real Estate Development team in due diligence in property acquisition and in the functional design of new construction and rehabilitation projects. 

Requirements

 Who You Are:  

• Bachelor's degree and/or experience in Finance, Real Estate, and/or Accounting.   
• A minimum of 4-6 years of experience in multi-unit asset management or portfolio management; 3 years of experience with risk/financial analysis, valuations, relationship management, workouts, capital markets, and Asset Management. 
• Ability to clearly and concisely write detailed notes and effectively communicate with tenants, vendors, and contracted firms to prepare reports and presentations. 
• Highly organized with strong attention to detail and capable of taking personal initiative in a project as needed, making sure all work is completed and of high quality.     
• Able to work in a fast-paced, team-oriented environment with multiple deadlines and adapt readily to changing priorities. 
• Seasoned and well-honed financial skills, able to apply financial modeling techniques and critical analytical frameworks to solve for effective real estate decisions and outcomes.  
• Ability to conduct property walk-throughs and inspections.   
• Ability to always exercise discretion and confidentiality.   
• Proficient in Microsoft Office 365 applications, specifically Excel, Word, and Outlook.  
• Ability to read and understand real estate contracts and complex legal documents.   
• Proficiency with property management systems such as Yardi  
• Project management skills. 

What We Offer: Bellwether Housing is your platform for growth, empowerment, and purpose. When you join our team, you will receive: 

• Competitive compensation accompanied by a generous benefits package. 
• Medical, dental, and vision insurance. 
• A 403(b)-retirement plan with an employer match, guiding you towards a prosperous future 
• Fuel for your personal and professional development with up to $1,500 in employer-paid continuing education per year. 
• An ORCA Transit Pass to navigate the city with ease. 
• Up to 24 paid days off in your first year, prorated personal days renewed annually, and 8 paid office closure days. 
• The chance to be part of a transformative mission, leaving a mark on the lives of those we serve in our communities. 

At Bellwether Housing, you will elevate your career in a role that's as rewarding as it is impactful, where you’ll be part of a movement that is helping shape the future of affordable housing in Seattle and where diversity, equity, and inclusion are the pillars of our success.  

Note: This role requires successful completion of a background check in accordance with Seattle’s Fair Chance Employment Ordinance. 

Bellwether Housing is an equal opportunity employer. We will not discriminate based on race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state, or local laws. We support the Americans with Disabilities Act (ADA) to reasonably accommodate all qualified applicants [and employees] by providing reasonable accommodations to people with disabilities.  

To request Reasonable Accommodation for the application or interview process, please contact recruiting@bellwetherhousing.org. Bellwether Housing is dedicated to building a diverse, equitable, and inclusive workplace. We value having employees whose skills, experiences, and backgrounds reflect the populations we serve. We are committed to being an anti-racist organization, while acknowledging we have a long way to go. You can learn more about our DEI work on our website.  

Salary : $103,145 - $126,066