Director of LIHTC Asset Management

Director of Asset Management

Los Angeles, CA | Hybrid

Our client, an established multifamily and affordable-housing owner and developer, is seeking a Director of LIHTC Asset Management to join its existing Asset Management department. Reporting to the SVP of Asset Management, this person will oversee portfolio performance, third-party property management and execution of property-level business plans.

Candidates may bring a combination of conventional multifamily and affordable/LIHTC experience. An exclusively LIHTC background is not required, but candidates must understand the operational and compliance requirements of affordable housing and have a for-profit go getter attitude.

Responsibilities

• Oversee the financial and operational performance of an assigned multifamily portfolio.
• Develop and execute property business plans, budgets, forecasts and capital strategies.
• Monitor occupancy, leasing, revenue, expenses, NOI, cash flow and property-level risks.
• Hold third-party property-management companies accountable for operating, leasing and financial results.
• Identify underperforming assets and implement corrective-action plans.
• Oversee ground-up lease-ups, renovations and property stabilization.
• Partner with Development, Construction, Accounting and Compliance throughout the property life cycle.
• Monitor LIHTC application processing, income certifications, verification documents and compliance files.
• Ensure occupancy requirements and deadlines connected to investors, lenders and permanent-loan conversion are met.
• Prepare portfolio reporting and recommendations for the SVP of Asset Management and executive leadership.
• Support refinancing, recapitalization, disposition and capital-planning initiatives.
• Mentor and support Asset Management team members as assigned.

Qualifications

• 7 or more years of multifamily Asset Management, portfolio management or owner-side real estate experience.
• Experience with conventional multifamily, mixed-income, affordable housing or a combination of these.
• Meaningful exposure to LIHTC assets and affordable-housing operations for a for-profit.
• Proven experience overseeing lease-ups and property stabilization.
• Strong budgeting, forecasting, financial-analysis and NOI-improvement skills.
• Direct experience managing and holding third-party property managers accountable.
• Experience working with Development, Construction, Accounting, Compliance, investors and lenders.
• Strong communication, leadership and executive-reporting skills.
• Owner/developer or investment-management experience is preferred

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