Asset Manager - Affordable Housing Investments

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.

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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 doManage a portfolio of multifamily affordable equity investments and serve as the main contact for general partners and property managersReview monthly property financials against budget and business plan, update annual projections, and report on variancesStay in regular contact with partners and property managers, make sure they comply with operating and management agreements, and escalate issues when neededTrack rehabs and capital expenditures against budgets, physical needs studies, and lender requirements, and review and approve bidsCatch underperforming properties early and put workout plans in placePrepare DCF valuations and sensitivity analysis to support refinance and buy/sell/hold recommendationsHelp partners with refinancings and sales, including BOV and appraisal review, market research, lender requests, and legal document reviewPresent portfolio performance to senior leadership and the Board of xzbcwsv Directors at least quarterlyVisit assigned properties annually and handle special projects as needed
What you bring3–5 years of real estate experience; affordable housing a plusAsset management, property management, or accounting experience a plusStrong analytical skills; working knowledge of DCF and other real estate finance modelsExcellent Excel and communication skillsBachelor’s degree required; business, economics, real estate, community development, or a related field preferred