Asset Manager - Remote
Connect Search, LLC
Our Client in the Chicago area is looking to hire on an Asset Manager to join their team. They are looking for applicants that have had experience in finance, real estate transactions, real estate financial analysis, real estate asset cashflow/forecasting, asset valuation, real estate market analysis and experience with reports to investors or writing skills.
The role is 100% remote for now, but has the option to be a hybrid schedule as they do plan to move back into the office sometime this September. To qualify for this position applicants must live in the Chicago area.
- Analyze financial feasibility of investment proposals from the standpoint of property and asset management. Coordinate with other Team members to review and analyze all transactional plans related to on-time delivery of units and long-term operating success. Work with Team throughout the acquisitions process to identify and mitigate risks in such areas as operating budgets, reserves, development timelines, etc.
- Establish and maintain relationships with General Partner’s staff so that mutual expectations are established and met. Communicate and interpret the management, documentation and reporting obligations as specified in the partnership agreement.
- Manage construction, lease-up schedule, cost certification and 8609 executions to assure on-time delivery of first year credits and intervene when appropriate. Manage disbursement of construction, developer fee, and reserve funding equity payments.
- During the compliance period, manage operations through statistical analysis and on-site inspections for early identification of potential issues. Provide technical assistance in the area of project performance and related managerial reports to ensure continuous receipt of reliable information, especially as it pertains to tax credit benefits and NEF’s ability to deliver and report those benefits to investors. Based upon review of project data designate an appropriate risk rating, based on NEF’s criteria. If warranted, develop action plans to mitigate identified risks.
- Manage the assigned Asset Management Analyst (“Analysts”). Oversee their financial analyses, documentation, input of data in SMT, and other work outputs. Mentor Analyst in identifying, interpreting, evaluating and mitigating risks and issues.
- Continually assess project and partnership risk factors as they pertain to compliance with Section 42 (LIHTC) provisions, and partnership agreement conditions. Oversee compliance reviews and follow up to deficiencies or 8823 filings. Assure that insurance coverage is adequate and continuously in force, mortgages are not in default and there are no mechanic liens or other non-permitted encumbrances. Perform project inspections, follow up to code violations or other health and safety conditions, and determine future capital needs and their financial impact.
- Along with fellow Team members, LISC, and other intermediaries, establish strong, productive working relationships with project sponsors, lenders, municipal and allocating agencies. Cultivate relationships conducive to information sharing and problem solving. Provide exemplary customer service. Employ customer retention strategies to seek ways to extend NEF’s services beyond the current transaction.
- Undertake special projects as assigned.