Asset Manager - Affordable Housing Investments

Job Description

SCI, the Leader in Real Estate Executive Search®, has been retained by a national affordable housing investor — over $3 billion in AUM across 45 states, providing long-term capital for the creation and preservation of affordable housing — to recruit an Asset Manager .

Reporting to the SVP, Equity Asset Management, the Asset Manager will be the main point of contact for general partners and property managers on a portfolio of multifamily affordable equity investments and will be responsible for the portfolio’s performance. Our client invests for the long term, with a focus on stable communities and quality housing for residents. The role reports results directly to senior leadership and the Board.

What you’ll do

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• Manage a portfolio of multifamily affordable equity investments and serve as the main contact for general partners and property managers
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• Review monthly property financials against budget and business plan, update annual projections, and report on variances
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• Stay in regular contact with partners and property managers, make sure they comply with operating and management agreements, and escalate issues when needed
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• Track rehabs and capital expenditures against budgets, physical needs studies, and lender requirements, and review and approve bids
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• Catch underperforming properties early and put workout plans in place
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• Prepare DCF valuations and sensitivity analysis to support refinance and buy/sell/hold recommendations
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• Help partners with refinancings and sales, including BOV and appraisal review, market research, lender requests, and legal document review
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• Present portfolio performance to senior leadership and the Board of Directors at least quarterly
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• Visit assigned properties annually and handle special projects as needed
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What you bring

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• 3–5 years of real estate experience; affordable housing a plus
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• Asset management, property management, or accounting experience a plus
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• Strong analytical skills; working knowledge of DCF and other real estate finance models
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• Excellent Excel and communication skills
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• Bachelor’s degree required; business, economics, real estate, community development, or a related field preferred
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