Asset Manager - PEFA

Overview:

Preservation Equity Fund Advisors (PEFA) seeks an Asset Manager for its growing team. PEFA is dedicated to preserving affordable housing through acquisition of existing apartment communities while in return, providing cash flow and appreciation to its investors. The Asset Manager will join a collaborative group of real estate professionals while contributing to an up-and-coming venture. The ideal candidate enjoys working with a team, has a positive attitude and has a background in multi-family real estate.

Responsibilities:

• Oversee a portfolio of up to 10 assets, including Low-Income Housing Tax Credit, HUD, Bond, Home, and market-rate properties. The Asset Manager will be responsible for overseeing the 3rd party management companies on their portfolio.
• Work closely with property staff to analyze and report on monthly financial performance; monitor budgets (comparing to actuals) and various key performance indicators including maximizing rents, occupancy, collections, and capital needs as necessary.
• Review and approve annual budgets for reasonableness upon submission by the 3rd party management companies.
• Complete capital renovation projects while working directly with vendors/contractors, ensuring projects are completed on time and on budget. Work closely with the Construction Asset Manager on the completion of capital projects.
• Review and approve Reserve withdrawals and track the balances in the Reserve accounts.
• Develop an Action Plan in conjunction with the other key partners or property management for concern properties, monitoring effectiveness of the Action Plan on a monthly or more frequent basis.
• Conduct all required site visits. Concern properties must be visited more regularly.
• Review partnership agreements, regulatory agreements, financing documents and other sources to determine financing structures and constraints.
• Ascertain and work to resolve problems through collaboration with partners, property managers, lenders, and governmental/regulatory entities.
• Analyze monthly, quarterly, year-end, and annual financial audits.
• Conduct quarterly distribution calculations and present proposed distribution projections to department head.
• Review potential communities for acquisitions, and provide feedback on market, physical condition, management, and other analysis as required.

Qualifications:

• Advanced Excel, Power Point, Yardi, PowerPoint, Power BI
• Familiarity with multi-family asset class
• Positive attitude and desire to take initiative
• Detailed oriented with attention to accuracy and organization
• Proficient oral and written communication skills
• Professional and courteous
• Well organized with strong communication and excel skills.

Education & Experience:

• Bachelors degree in Real Estate, Finance, Accounting, or related subject; or
• 2-5 years of previous related experience

The above information is intended to describe the general nature and level of work being performed by employees assigned to this job. It is not intended to be an exhaustive list of all responsibilities, duties, and skills required.

Benefits & Opportunities:

• WNC is an equal opportunity employer that is committed to a diverse and inclusive workforce that considers all qualified applicants without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status.
• WNC offers a competitive benefits package which includes medical, dental, and vision insurance, paid time-off, 401k match, life insurance, and long-term disability.

The compensation listed represents the expected salary for this position. A candidate's work experience and other job-related factors will also be considered.