Community Affordable Housing Equity Corporation (CAHEC) is currently seeking candidates for an Asset Manager. CAHEC is a non-profit tax-credit syndicator based in Raleigh, NC that helps develop and foster healthy neighborhoods by raising equity capital and investing in affordable rental housing and community revitalization. CAHEC also invests in the people living in the properties it helps finance through its innovative enrichment opportunities called Community Investments.
A LIHTC Asset Manager ensures investors receive anticipated benefits associated with an assigned portfolio of multifamily real estate partnerships. This is achieved by proactively monitoring investments’ operational performance, compliance with Section 42 of the IRC, and regulations of other applicable housing programs, contracts, and laws. Asset Managers identify and mitigate operational and credit recapture risks from the inception of each investment throughout its 15-year compliance period.
Some specific functions include, but are not limited to, the following:
Identify operational or regulatory issues and work to resolve them in order to maximize return on investments, prevent losses, and promote positive relations with investors, owners, and managing associates.
Evaluate reports, maintain accurate and timely data, prepare and interpret historical trends, perform site inspections, and consult with all stakeholders.
Maintain frequent verbal and written communication with developers, property management agents, state agency representatives, and other associates during the construction and management of the properties.
Participate in investment review meetings and provide technical assistance and support to the Acquisitions, Fund Management, and Risk Management departments.
Bachelor’s degree in business management, business administration, accounting, finance, real estate, or other directly related field.
This position is based out of CAHEC’s corporate office in Raleigh, NC. Travel, typically by either commercial airline or automobile, is required for at least 25% of this position. Certain objectives require working on-site at various locations, such as properties in CAHEC’s investment portfolio, and some professional training opportunities may also require travel.
Minimum of three (3) years of relevant multi-family residential real estate experience with a focus on the review and interpretation of property financial statements. Experience performing physical site inspections is preferred.
Intermediate Excel and Word skills. Excellent analytical skills. Excellent verbal and written communication skills, coupled with the ability to maintain productive working relationships with all stakeholders. General knowledge of accounting, financing processes, and residential, multi-family property management best practices. Ability to collaborate in a team environment.
Compensation: Commensurate with education, experience, and job performance. The position is classified as an exempt position.
Benefits: Competitive benefits package including company-matched 401(k) plan.
CAHEC is an Equal Opportunity Employer.