Macdonald & Company is partnered with their client, a distinguished real estate development firm in Evanston, IL, to appoint an Asset Manager.
The group currently oversees a portfolio of 11,000 affordable rental housing units valued at over $1.3 billion, spanning sixteen states and the District of Columbia.
The role offers a hybrid work schedule (two days from home, three days in office) each week.
Responsibilities:
Collaborate closely with property management companies, regulatory agencies, investors, and other stakeholders to ensure the successful operation and sustainability of the housing portfolio.
Oversee third-party property management across a diverse range of property types, including multifamily, single-family, and commercial developments.
Manage and maintain all insurance coverages, identifying and mitigating risks effectively.
Analyze and review financial aspects, including budgets, monthly financials, reserves, escrows, and distributions for the assigned property portfolio.
Conduct property inspections to ensure that developments are in excellent physical condition, with occasional travel to various regions across the U.S.
Oversee and coordinate lease-ups at buildings, ensuring that all leasing goals are met.
Maintain an in-depth knowledge of affordable housing programs such as Low-Income Housing Tax Credits, CDBG, HOME, and other local or federal programs, ensuring compliance by third-party management companies with HUD policies.
Utilize creative problem-solving skills to troubleshoot operational issues.
Assist the development and finance teams with the acquisition, disposition, or recapitalization of housing assets.
Implement strategies to maximize the value and efficiency of assets within the portfolio.
Review and approve major operational decisions, including maintenance, capital improvements, and vendor contracts.
Address investor inquiries and concerns regarding property performance.
Qualifications:
Bachelor's degree in real estate, finance, business administration, urban planning, or a related field. Equivalent experience in affordable housing (3-5 years) may also be considered.
Demonstrated experience in property management, financial analysis, insurance management, property maintenance, and affordable housing compliance.