Asset Manager, Construction and Lease-Up

Job Summary: An Asset Manager oversees a portfolio of real estate debt and equity investments. Generally, this includes ensuring the financial success of the partnerships, continuing compliance with the executed partnership agreement, continuing compliance with loan documents, and adherence to various regulatory agreements. These requirements are fulfilled through monitoring, reporting, and direct interaction with owners and management of individual partnerships.

Essential Duties and Responsibilities:

1. Holds orientation meetings on all new deals with the development team.
2. Ensures proper setup of new deals in data management system.
3. Monitors construction to:
   • Ensure protection of debt and/or equity investments.
   • Ensure timely delivery of tax credits and losses for low-income housing tax credit equity investments.
   • Ensure construction is performed in accordance with the loan documents/partnership agreement, including monitoring of construction costs and timeliness.
4. Monitors lease-up to:
   • Ensure protection of debt and/or equity investments.
   • Ensure timely delivery of tax credits and losses for low-income housing tax credit equity investments.
5. Monitors operations during the lease-up period to:
   • Ensure continued compliance with applicable programs.
   • Ensure timely conversion to the permanent financing.
6. Calculates net income/(loss) projections.
7. Monitors projected and capital contribution needs.
8. Processes capital contributions.
9. Completes the conversion to permanent financing when a loan product is involved.
10. Manages and monitors accurate, timely delivery of data to the data management system.
11. Closely monitors and corresponds regularly with sponsors for those assets displaying signs of weakness and increased investor risk.
12. Evaluates assets displaying signs of weakness and increased investor risk for inclusion on the watch list.
13.  Monitors action plan progress on troubled assets on a regular basis to ensure improved asset performance.
14. Collects and processes information relating to the performance of each asset.
15. Analyzes, projects, and reports information relating to the performance of each deal.
16. Involvement in industry activities includes participation in industry conferences, trade shows, educational opportunities, and other events that will benefit business relationships.
17. Continues education in applicable aspects of the laws and regulations for different programs involved in the assets (HOME Loans, other loan products, tax credit rules, bond compliance, etc.).
18. Maintains business relationships with investors, developers, accountants, attorneys, consultants, property managers, housing finance agencies, lenders, and any other related parties.
19. Involvement in the assessment of policies and procedures of the asset management department to assist in continually improving the performance of the department.
20. Participates in departmental staff meetings and company-wide staff meetings.

Qualifications and Skills:

• BA/BS from accredited College/University
• 2 years of experience in real estate development; finance, rent-restricted multifamily asset or property management; or community development; or commercial lending, commercial real estate development; finance, rent-restricted multifamily asset or property management; or community development.

Competencies:

• Intellectual Agility: Flexes and adapts thinking skills to meet the needs of different situations and circumstances. Doesn’t limit problem solving to one approach or methodology.
• Perseverance: Accepts uncertainty by remaining focused and engaged on assignments. Looks for plausible solutions to difficult problems.
• Insight to Action: Acts on conviction and advances from concept to implementation toward a goal. Draws upon knowledge and professional judgement to orchestrate the steps required to get results.
• Customer Focus: Stays ahead of customer needs and uses insight to develop new and/or modify client services.
• Diversity Awareness: Identify the benefits and advantages of harnessing the collective insights of various individuals in the organization.

Reporting Relationship: Reports to Manager, Construction and Lease Up

Supervisory Relationship: None

Physical Requirements:

• Ability to work on a computer for extended periods of time.

Travel Required: Up to 50%

Benefits Offered:  Medical, Health Reimbursement Account, Flexible Spending Accounts (medical and dependent care), Dental, Vision, Life Insurance, Accidental Death & Dismemberment, Long-Term Disability, Employee Assistance Plan, Pet Insurance, Identity Theft Protection, Paid Mobile Phone Service, Unlimited PTO, Incentive Compensation, 403(b) Plan, and Profit-Sharing Plan.

Cinnaire provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion, gender, sexual orientation, national origin, age, disability, marital status, status as a Vietnam-era or disabled veteran or any other characteristic protected by law. Cinnaire complies with all applicable federal, state, and local laws, regulations and ordinances prohibiting employment discrimination. Cinnaire is committed to the full inclusion of all qualified individuals. As a part of this commitment, Cinnaire is dedicated to providing access, and reasonable accommodation in its services, programs, activities, recruitment and employment for qualified individuals with disabilities.