Job Description

Job Description – Senior Asset Manager – Stabilized Portfolio
Position: Senior Asset Manager – Stabilized Portfolio
Reports To: Head of Asset Management
Location: New York, New York

The NHP Foundation: NHPF is a not-for-profit real estate organization dedicated to preserving and creating sustainable, service-enriched multifamily housing that is both affordable to low- and moderate-income families and seniors, and beneficial to their communities. NHPF has 57 properties in 16 states and the District of Columbia, totaling over 10,000 units of low- and moderate-income housing.

Position Overview: This position will be part of the Asset Management Group, based in NYC Office, that will play a key role in the oversight and performance of NHPF’s stabilized LIHTC multi-family portfolio. Specifically, directing NHPF’s 3rd party asset management company as well as 3rd party property management companies with the overall goal of keeping the portfolio within compliance and on-track to meet financial projections.
The selected candidate will play a key role during the budget and year-end season to make sure that both – properties’ budgets and year-end related items – are delivery on-time to the respective stakeholders by the 3rd party management companies. This is a visible position within NHPF which will require responsiveness, problem-solving mentally, and hands-on asset management approach.

Stabilized portfolio: approximately 30 assets and 5,000 units.

Responsibilities:
• Responsible to provide strategic direction to 3rd party Asset Management Company and 3rd party Property Management Companies with the goal of achieving NOI’s projections and keeping the assets in-compliance with the respective local agencies, applicable regulations, and stakeholders
• Lead the overall budget process, including capital repair projects, and play a key role during the year-end process with auditors, management companies, and NHPF Finance Group
• Focus on underperforming assets and work closely with Asset and Property Management to devise and carry-out property strategies to bring assets performance back-on track
• Make Property Management Companies accountable to meet key metrics such as rent collection and occupancy rates, security, operating expenses trends, cash-AP analysis, and maximizing NOI
• Review and understand financial reports, including operating agreements and closing
binder, to proactively identify issues and trends, and update stakeholders accordingly
• Act as Owner’s Rep on matters related to property fire claims, repairs, tenants’ needs, and anything required to close-out the claim
• Review closing documents (LPAs, Loan Agreements, UW, Operating Agreements, etc.) to make sure property compliance requirements are met and work with internal and external parties to ensure compliance
• Take the lead on assessing room for improvement regarding data management and reporting
• Perform regular site visits to existing properties to assess operations, meet with local officials, and residents.

Required Knowledge and Skills:
• Bachelor’s Degree with focus in real estate, finance, accounting or related major. Advanced degree preferred
• Minimum of 5 years of commensurate experience in affordable housing asset management. Financial analysis and property management experience a plus.
• Eager to take over challenges, turn-around underperforming assets, and take-ownership of assets and teams
• Capable to effectively identify and summarize issues as well as potential solutions to SVP Asset Management
• Experience working with HUD, LIHTC S42 rules, REAC/OCAF, audits, and leading budget process
• Team oriented with strong analytical, organizational, and computer skills
• Hands-on asset management approach with solid problem-solving skills
• Ability to meet deadlines, accomplish work in order of priority; professionally maintain composure and effectiveness under pressure and moving targets
• Must be available to travel 40-50% including overnight travel

The above list of duties is intended to describe the general nature and skill level of work performed by NHPF Asset Managers. It is not to be construed as an exhaustive list of duties performed.

Compensation & Benefits: NHPF offers a generous compensation package, excellent benefits, and a great corporate culture. Hybrid office schedule.