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Asset Manager - Eagle, ID
Boise, ID / Eagle, ID / Meridian, ID
Job Description
The Pacific Companies (TPC) is a privately-held group of firms dedicated to excellence in the multifamily housing industry. Our organization is vertically integrated which allows us to manage every aspect of our projects; from architecture, development, finance, to asset management. Our commitment to affordable workforce, family, and senior housing has placed us proudly as the top Affordable Housing Developer nationally according to AHF Magazine.
The Pacific Companies is searching for a dynamic, analytic, and ambitious individual to act as an Asset Manager of the growing portfolio. The multi-family housing portfolio spans numerous urban and rural markets and is growing at a fast pace annually.
The Asset Manager will independently monitor the activities of their portfolio comprised of Low-Income Housing Tax Credit Properties and Market Rate Properties through site visits, financial review, government reporting, and problem resolutions as needed.
Asset Manager Responsibilities:
Requirements:
The Pacific Companies is searching for a dynamic, analytic, and ambitious individual to act as an Asset Manager of the growing portfolio. The multi-family housing portfolio spans numerous urban and rural markets and is growing at a fast pace annually.
The Asset Manager will independently monitor the activities of their portfolio comprised of Low-Income Housing Tax Credit Properties and Market Rate Properties through site visits, financial review, government reporting, and problem resolutions as needed.
Asset Manager Responsibilities:
- Support the Executive and Senior Asset Managers
- Oversees and manages the economic, financial, physical, and compliance needs of their portfolio, including creating strategies for each asset for optimum performance
- Collaborate with other departments including finance, construction, architecture, and accounting to ensure all aspects of the assets meet company standards and compliance standards
- Researching legal and other pertinent documents (i.e. LPAs, subsidy contracts, loan agreements, tax returns, audits, regulatory agreements, guaranty agreements, cash flow/capital transaction waterfalls, etc) to understand each asset’s requirements for compliance and performance
- Read, interpret, and understand the regulatory requirements of Low-Income Housing Tax Credit (LIHTC) program. Understand the implications of the program and how they impact the operations of rental communities
- Review detailed financial and operational planning, and budgeting to identify issues for reforecasting or resolution
- Work with Management companies and operating software to ensure financials, rent rolls, annual budgets, tax returns, and audit reviews are loaded and accurate
- Identify, prioritize, and follow-up on problems/issues with projects and/or credit and work with general partners to help resolve issues
- Provide guidance on requirements for post-closing changes, work with the team to ensure documentation is adequate, and completed timely, staying in the loop on any issues
- Coordinate with property management, housing authorities, supportive services, project managers, and other development team members to ensure that lease-up, marketing, outreach, and maintenance of waiting lists are handled in accordance with the management plan and all regulatory requirements and, that goals for lease-up are met on time
- Work collaboratively to create and refine reporting procedures, databases, and other informational systems to collect data, track projects, enhance communication, and distribute to department and greater asset management team
- Conduct project site visits, and review property management companies and practices.
- Compiles or oversees and tracks the submission of Annual State, Federal, and Financial reports as required
- Dispositions-work with the Executive Officer on the sale of properties and work with management companies during the sale and transition
Requirements:
- Bachelor’s degree in Finance, Business Administration, Management, Real-Estate, or related field Alternative education and experience qualifications welcome
- 2+ years of financial or real estate experience, banking, asset management preferred
- Preference for multi-family experience (asset management, lending, operations, construction/rehab)
- Experience in public and private housing asset management/finance programs and related compliance requirements.
- Ability to multi-task and deal with stress, balance competing demands on time
Contact Information
Please visit our website at www.tpchousing.com
Job Summary
Company
Employment Term and Type
Regular, Full Time
Salary and Benefits
The Pacific Companies offers a competitive compensation package including paid time off, holiday pay and health, dental and vision benefits.
Required Education
Bachelor's Degree
Required Experience
2+ years
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