Vice President, Asset Management

SOME (So Others Might Eat) provides material aid and comfort to our vulnerable neighbors in the District of Columbia, helping them to break the cycle of poverty and homelessness through programs and services that save lives, improve lives, and help to transform the lives of individuals and families, their communities, and the systems and structures that affect them. We meet immediate needs with food, clothing, and healthcare, and offer the tools one needs to live with hope, dignity, and greater independence.

Compensation:
We offer our employees a competitive compensation and benefits package that reflects our organizational culture, mission, and core values. The salary range for this position is $126,651.00 to $133,941.60 and is commensurate with experience.

Position Description: The Vice President, Asset Management is a strategic leader responsible for developing and executing SOME Housing’s asset management strategy to ensure the long-term value, sustainability, and performance of the organization’s real estate portfolio. This role oversees asset planning, performance tracking, and risk mitigation across all housing assets, ensuring alignment with SOME’s mission and organizational goals.

Working in close collaboration with the EVP, Chief Property, Asset, & Facilities Management, Senior Property Manager, and other key stakeholders, the Vice President will establish and communicate operational expectations, lead capital planning and reinvestment strategies, and optimize property performance across financial, physical, and service-oriented benchmarks.

Required: Bachelor’s degree (prefer concentrated studies in real estate, business, or finance). 3 years’ experience in affordable housing asset management.

Preferred: Master's degree (prefer concentrated studies in real estate, business, or finance). 3 years’ experience in affordable housing asset management. Professional training or certification in Asset Management.

Required License/Certification: N/A

Schedule: Monday-Friday 8:00 - 4:30 pm (40 hours per week)

Expected Contributions: Asset Management

• Oversee and analyze the accuracy of information in assigned portfolio financials. Analyze property performance, valuation, market trends and operational strengths and weaknesses to inform strategies for maximizing value to the company and quality operations of the property.
• Maintain a detailed working knowledge of each project within SOME’s portfolio and create and maintain an asset management plan.
• Monitor lease-up properties to ensure tax credit delivery schedules are being met and update weekly reports and schedules.
• Define, identify, and monitor watch list properties.
• Oversee, analyze, and report on financial performance, budgets, and occupancy, including monitoring for stabilization benchmarks to report to Housing Development and Investors to release equity installments.
• Review and approve funder reporting.
• Establish and maintain an excellent working relationship with general partners, investors and governmental agencies and ensure compliance with all requirements of management and operating agreements; financial reporting requirements; and document requests.
• Work to resolve problems though collaboration with asset management team, general partners, property management, facilities management, finance, lenders and governmental agencies.
• Oversee the planning of Capital Replacement schedules for all properties in collaboration with the Facilities team.
• Develop recommendations related to portfolio profile, deployment and redeployment, acquisition, refinance, disposal, or retirement of housing assets.
• Provide operational feedback to inform of design, leasing, financing, and lease-up strategies for new development projects.
• Verify that real estate property taxes are paid current.
• Prepare LIHTC properties for Year-15, recommend best options, and facilitate transition.
• At least quarterly and directly prior to scheduled funder site visits, perform periodic internal site visits to ensure quality standards have been meet and report findings.
• Ensure all inspections, licensing, and operating requirements are met and current.
• Model the life cycle of each asset from acquisition through disposition, including investor returns under different scenarios.
• Lead the Capital Needs Assessment process for the buildings in SOME's portfolio.
• Collaborate with Housing Development, Facilities Management, Finance, and Property Management on a pro forma.
• Initiate reserves project funding requests and projections.

Leadership:

• Participates as an active and contributing member of the housing management group and other sub-groups as appropriate
• Maintains a constructive and highly interactive relationship with the other departments (Property Management, Facilities Management, Housing Development, Social Services) to maximize portfolio value and the impact of SOME's mission on the residents served.
• Convey essential information concisely and promptly throughout the organization, as appropriate.
• Leads a support team to gather data, financials, and compliance information.
• Participate in goal setting and submit quarterly statistical data.

Supervisory Expectations:

• Ensure appropriate department staffing levels in order to meet objectives; assess, evaluate, and hire new employees as needed
• Contribute to budget development, and use sound judgment to leverage resources in accomplishing department goals; administer budget, and comply with SOME financial reporting requirements
• Contribute to strategy development and strive to improve department functions and performance; assist in the development of standards and goals as appropriate

Knowledge/Skills/Abilities Required:

• Ability to utilize financial reporting to evaluate properties and develop recommendations
• Problem-solving and troubleshooting skills
• Organizational skills with an attention to detail
• Proficient with MS Office, including Word, Excel, and Outlook
• Develop clear and useful reporting
• Excellent verbal and written communication skills
• Time management skills and the ability to deliver against deadlines
• Ability to communicate with various populations
• Ability to document processes associated with the Asset Management plan and work flows interdepartmental and in collaboration with other departments.
• Understanding of the total operating cost model for facilities and associated benchmarking
• Strong analytical skills
• Ability to deliver critical information while being supportive of teammates.

Reports to: EVP, Chief Property, Asset, & Facilities Management

Position Designation: This position is designated as Safety Sensitive. You may be subject to drug testing prior to or during your employment with SOME. In this position, you may be disqualified from employment based on the presence of marijuana in test results, even if you possess a medical card authorizing the use of medical marijuana.

Physical Demands: Must be able to lift to 25 pounds. Requires looking at a computer screen for several hours a day. May be required to sit or stand for long periods

To Apply: Go to our career page at https://www.some.org/careers/open-opportunities and click on the search icon to locate this position. Follow the instructions to complete your online application profile to be considered. No phone calls, please.

SOME, Inc. is a proactive equal-opportunity employer. We ensure that all qualified applicants are considered for employment without discrimination based on race, color, religion, sex, national origin, disability, or protected veteran status.

SOME, Inc. is deeply committed to ensuring the job application process is accessible to all users. If you require assistance or have any concerns about the accessibility of our website or the application process, please feel free to contact us at onlineaccommodations@some.org. This contact information is specifically for accommodation requests and does not pertain to application status inquiries.

To read our EEO Policy Statement, please click here. To view our notices to employees and applicants for employment, click on their corresponding links: EEOC Know Your Rights Notice and E-Verify Program Notice.

Salary : $126,651 - $133,942