Affordable Housing - Asset Management Analyst

Job Description

Job Description

Description:

Location: Hybrid in Seattle, WA

Compensation : $82,000 - $86,000

Benefits: Medical HMO, dental and vision insurance is free for employee only coverage

Everyone has the right to a quality, affordable home. At Community Roots Housing, this truth drives our work. By embracing community-led development and engaging in deep-rooted partnerships, we’re fostering vibrant, equitable communities where everyone has access to safe, affordable and welcoming homes. Today, with 40 apartment buildings – over 2,000 residents -- we continue our commitment to build community with and for people. We are a top performing, high-capacity not-for-profit public corporation with an innovative portfolio throughout the Seattle area. Our buildings have won numerous awards from HUD, Urban Land Institute, Affordable Housing Finance Magazine, Future wise and other community development awards.

Job Summary:

The Asset Management Analyst works closely with asset management, property management, and finance teams in the ongoing monitoring and reporting of portfolio performance to internal and external users. The analyst will also work closely with the asset management and real estate development team in the ongoing implementation of our asset management database that stores a variety of data, documents, and tasks associated with CRH’s portfolio of assets. This role is integral in supporting the achievement of key performance goals across CRH’s diverse portfolio of affordable multi-family housing properties including a robust portfolio of commercial space.

Duties and Responsibilities:

Asset Management and Finance

• Works closely with the asset management team to create, review and execute operating strategies for all properties in the portfolio.
• In collaboration with the asset management team, develop and implement standard operating procedures ensuring timely and accurate upload of documents, dates, and key data collected and stored in the organization’s Asset Management database, MRI’s Investment Central (IC).
• Assist with the development of task tracking tools within the organization’s database IC to monitor the financial and regulatory status of existing portfolio, including regulatory agreements, tax credit compliance periods, loan agreement provisions and expiration.
• Assist in the preparation of monthly, quarterly, annual and special/periodic Board, senior management, investor, lender and regulatory agency reporting, as assigned.
• Analyze/investigate monthly property budget-to-actual results by comparing them to proforma and key performance indicators (KPIs) established for each property.
• Monitor property tax billings for accuracy ensuring appropriate valuations and exemptions.
• Support annual property operating and capital projects budgeting processes.
• Support the processes for reserve reimbursement and other capital project funding.
• Ability to understand, catalog, and research key documents (property audits, partnership documents, financing and regulatory agreements, insurance coverages, tax returns, etc.).
• Analyze property leasing activities and conduct routine market and resident demographic analysis to routinely guide property marketing/leasing decisions.
• Conduct periodic property physical and administrative reviews to evaluate property marketability and market positioning, management plan conformance and physical condition.
• Assist with special projects and support the asset management team as requested.
• Lead the Asset Management of a small portfolio of properties as requested.

Property Development

• Provides financial modeling support to Property Development, particularly for low-income housing tax-credit developments, in collaboration with property management.
• Assists with pro forma and governing documents review for new projects in development.
• Analyzes portfolio performance to provide operating assumptions for property development.
• Assists with due diligence related to funding applications, investor and funder negotiations and loan closings.
• Assists with project close-out in conversion from construction to permanent financing.
• Support and train the property development team in the standard process for uploading key documents, dates, and data for all new projects into the organization’s IC database.

Minimum Qualifications:

• Bachelor’s degree in accounting, finance, urban planning, real estate, business administration or related field.
• Two years’ experience in financial analysis, asset management, real estate accounting, real estate finance, real estate lending or related work.
• Demonstrated ability to learn and quickly develop proficiency with software commonly used in real estate and financial reporting, such as MRI Investment Central, RealPage, etc.
• Self-starter, detail-oriented and focused on accuracy, quick learner with strong analytical, problem-solving, organizational, time and project management skills.
• Ability to read, analyze and interpret financial statements and a variety of legal documents.
• Skilled with Microsoft Office applications with special focus on Advanced Level or higher
• Excel skills, including the ability to develop effective, advanced financial models such as pro formas.
• Excellent written and verbal communication skills.
• Ability to collaborate successfully across the organization.

Preferred Qualifications:

• Experience with real estate “deal book” database implementation and administration.
• Experience using sequel SQL to extract and analyze data, maintain database integrity, and support portfolio reporting.
• Direct experience with Real Page, MRI Investment Central, SharePoint, and Abila MIP
• Experience working for a nonprofit or governmental entity developing and managing affordable multi-family housing.
• Two or more years of direct experience related to affordable housing finance or multi-family asset management.

Supervisory Responsibility:

None

Physical Demands: This role primarily requires working at a computer for extended periods of time. The role will also require periodic site visits to properties throughout the Seattle area, including locations with stairs and a multitude of surfaces, and limited or no elevator access.[EA1.1][LH1.2]

Disclaimer: This job description is not designed to cover or contain a comprehensive listing of activities, duties, or responsibilities that may be required of the employee. Duties, responsibilities, and activities may change or be assigned at any time without notice.

Employee Benefits:

• Medical HMO, Dental and Vision is free for employee only coverage with Medical PPO buy up available
• Accrual of 22 days of PTO in your first year of employment
• 13 paid holidays
• 2 personal days
• Sick Time
• ORCA regional business passport
• Employer paid basic life insurance and disability insurance
• SupportLinc employee assistance program
• Medical Flexible Spending Account (FSA) and Dependent Care FSA
• Retirement: employee contribution through the Department of Retirement Systems Deferred Compensation Program, employer contribution of 2% annually through Fidelity SEP IRA

Community Roots Housing is an Equal Opportunity Employer. All qualified applicants are encouraged to apply. Community Roots Housing is a “Ban the Box” employer. However, per Federal Department of Housing and Urban Development requirements, any candidate selected for this position must undergo a criminal history background check prior to employment.