Community Affordable Housing Equity Corporation (CAHEC) is currently seeking candidates for a Transitional 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. Our portfolio comprises over 600 assets in eleven states. CAHEC also invests in the people living in the properties we help finance through innovative enrichment opportunities called Community Investments.
The Manager, Transitional Asset Management leads CAHEC’s Transitional Asset Management team which provides development period oversight for a portfolio of investments from closing through stabilization. This position coordinates and assigns specific tasks to the Transitional Asset Management team members responsible for construction management, tax credit compliance, equity funding and development-period asset management. This position is also responsible for direct asset management oversight of a portfolio of development-period investments.
Some specific functions include:
- Manage and coordinate the day-to-day operations of the Transitional Asset Management team. Oversee and evaluate the performance of assigned staff, promote staff development and support maximum productivity of the department through on-going coaching, mentoring, and constructive performance feedback.
- Monitor the delivery of expected tax credits during the development period. Report and mitigate any issues that may prohibit, delay, or jeopardize delivery of projected tax credits, or hinder the ability of the property to achieve or sustain financial integrity.
- Review draft and final cost certifications to ensure adequate documentation of eligible and qualified basis.
- Review equity and loan funding requests, and prepare equity adjustment calculations as necessary.
- Determine the achievement of break-even operations, ensure timely conversion to permanent financing, and calculate net income/(loss) projections.
Bachelor’s degree in real estate, finance, business, city planning, or economics; or an equivalent combination of education and comparable work experience.
Minimum five (5) years progressively responsible work experience relevant to affordable housing tax credit development, underwriting, investment modeling, finance and/or asset management.
Minimum two (2) years progressively responsible work experience relevant to the management functions of supervising and coaching direct reports, operational planning, and budgeting.
Knowledge, Skills, and Abilities
Comprehensive knowledge of commercial real estate development, construction, corporate and partnership legal and taxation issues, financial management principles and property management principles and practices, including specific requirements for low-income housing tax credits.
Comprehensive knowledge of the tax credit delivery process, including cost certifications, 8609s, and equity adjustment calculations.
Proven ability to supervise multiple direct reports including training, coaching, and performance management.
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 30% 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.
Compensation and Benefits: CAHEC is an equal-opportunity employer that offers a competitive compensation and benefits package.
For more information and how to apply: please visit .
- Portfolio Management
5+ to 7 years
Apply for this job