Irvine, CA
A private real estate investment firm that focuses on value-add and impact-driven strategies across multifamily, residential, and commercial assets across the U.S. is looking for an Asset Manager to join their team.
The Asset Manager will be responsible for the strategic and financial performance of a portfolio of both affordable and market rate multifamily investments across the United States. The role will focus on maximizing value through proactive oversight of property operations, capital improvements, and market positioning, with special attention to the complexities of affordable housing and LIHTC compliance.
Responsibilities
- Develop and execute business plans for each asset, ensuring alignment with investment objectives.
- Monitor performance of assigned multifamily assets including property-level KPIs, financials, occupancy, rent growth, and expense management.
- Identify and implement operational improvements to enhance NOI and asset value.
- Conduct regular site visits to monitor operations, resident satisfaction, and physical condition.
- Review and approve annual operating budgets prepared by third-party property management.
- Conduct monthly financial review and auditing of property management-prepared statements, including variance analysis.
- Report key findings and trends to senior leadership.
- Lead quarterly reforecasts and distribution analyses to ensure accurate fund-level reporting.
- Oversee capital expenditure planning and execution, ensuring on-time, on-budget delivery.
- Manage quarterly and annual valuation processes in collaboration with third-party valuation firms for ASC 820 compliance.
- Ensure property management teams are maintaining LIHTC and other affordable housing compliance, including tenant income certifications, rent restrictions, and regulatory reporting.
- Monitor compliance performance through periodic reviews, reporting dashboards, and audits.
- Participate in refinancing processes, including reviewing underwriting, coordinating due diligence, and working with internal and external stakeholders.
- Oversee lender reporting requirements, including reviewing and approving draw packages and submitting documentation as needed.
- Maintain strong relationships with lenders, investors, and regulatory agencies.
- Collaborate with acquisitions/dispositions teams on underwriting, due diligence, and exit strategies.
Requirements
- Bachelor’s degree in Real Estate, Finance, Business, or related field. MBA or advanced real estate certification (CCIM, CPM, etc.) a plus.
- 5+ years of experience in real estate asset management, with at least 2 years in multifamily.
- Preferred direct experience with affordable housing and LIHTC oversight, managing assets in secondary and tertiary markets, and familiarity with HUD, Section 8, and other housing programs.
- Strong financial modeling skills with the ability to interpret complex financial and operational data.
- Excellent communication and negotiation skills, complemented by strong interpersonal skills with property managers, partners, and stakeholders.
- Demonstrated strong detail-oriented skills, especially in compliance and reporting contexts.
- Ability to travel nationally as required.
- Ability to work in the Irvine, CA office 5 days a week.