Director of Property Asset Management and Development

Job Summary: The Director of Property Asset Management and Development will be responsible for overseeing and optimizing the performance of both new and stabilized properties within the company's portfolio. This role includes setting and monitoring investment goals, managing property operations, ensuring financial accuracy, and regulatory compliance. The ideal candidate will work closely with property specialists, development partners, and investors to achieve the company’s investment objectives while maintaining strong relationships with key stakeholders. A deep understanding of accounting principles and the ability to manage financial operations is essential for success in this role.

Key Responsibilities:

Investment Management & Oversight:

• Set and monitor the achievement of property investment goals for both new and stabilized properties.
• Compile detailed business plans and routine investment reports for review by ownership and investors.
• Oversee and manage property cash flow, including capital calls, distributions, and replacement reserves.

Team Leadership & Collaboration:

• Employ and work with property specialists, including property managers, financial analysts, and third-party professionals.
• Collaborate with Regional Property Managers to set clear expectations and performance standards for stabilized properties.

Financial & Reporting Duties:

• Manage input and maintenance of all company transactions related to development, construction, and ownership oversight under Plus Management LLC.
• Handle general accounting tasks including accounts receivable, accounts payable, payroll, job costing, and general ledger posting for ownership oversight entities.
• Set up and maintain cost monitoring and reporting systems, ensuring accuracy and timely reporting.
• Complete monthly reviews of stabilized properties, analyzing general ledger variances and ensuring consistency and accuracy.
• Prepare and submit ad hoc financial and performance reports as required by owners and investors.
• Facilitate the external audit of HUD-financed properties and ensure compliance with mortgage requirements for both the bank and HUD.

Construction & Development Support:

• Oversee construction draws and loans, including tracking, reviewing, and posting transactions to the general ledger.
• Process general contractor payment applications for monthly billings and maintain all relevant payment draw and invoice files.
• Coordinate with development partners, general contractors, and internal teams on cost adjustments, change orders, and contract negotiations.
• Participate in monthly construction progress meetings and support construction loan underwriting, due diligence, and post-closing activities.

Client & Stakeholder Communication:

• Maintain effective communication with investors, clients, and external partners, providing timely responses and updates.
• Work with lenders to manage funding and draw requests, and ensure all inquiries are handled efficiently.
• Assist in managing cash flow projections and provide support for financial analyses as needed.

Asset Maintenance & Coordination:

• Coordinate and oversee asset maintenance, ensuring properties remain in excellent condition and comply with all relevant regulations.
• Negotiate and manage contracts with vendors, service providers, and contractors.

Regulatory Compliance:

• Facilitate external audits for HUD-financed properties, ensuring compliance with HUD’s regulatory requirements.
• Ensure that all mortgage compliance requirements are met for both HUD and the company’s financial institutions, including ongoing communication with both entities to ensure smooth audits and adherence to standards.

Other Responsibilities:

• Prepare project work-in-progress schedules and reports for management.
• Support other related duties and projects as assigned by ownership.

Qualifications:

• Bachelor’s degree in real estate, finance, accounting (CPA preferred), business administration, or a related field.
• Strong accounting knowledge and ability are a must, with expertise in accounting principles, budgeting, cash flow management, and financial reporting.
• 10 years of experience in real estate asset management, property management, or development, with a focus on multifamily or commercial properties.
• Excellent leadership and communication skills, with the ability to collaborate effectively across teams and manage stakeholder relationships.
• Proficiency in property management and accounting software.
• Ability to manage multiple projects and deadlines simultaneously, with strong attention to detail and organizational skills.
• Experience with HUD compliance and audits is a plus.

Work Environment: This is a full-time role that may require occasional travel to properties and construction sites. The role offers the opportunity to work in a dynamic, fast-paced real estate investment and development environment with a focus on long-term growth and value creation.

Job Type: Full-time

Pay: $110,000.00 - $160,000.00 per year

Benefits:

• 401(k)
• 401(k) matching
• Dental insurance
• Health insurance
• Paid time off
• Vision insurance

Schedule:

• Monday to Friday
• Weekends as needed

Ability to Relocate:

• Colonial Heights, VA 23834: Relocate before starting work (Required)

Work Location: In person

Salary : $110,000 - $160,000