The Asset Management Analyst provides a broad range of support to a team of Asset Managers. The team oversees a portfolio of multifamily real estate assets in which the company is the Low-income Housing Tax Credit (LIHTC) investor. This is an entry level real estate position for individuals looking for exposure to real estate with a 100% focus on multifamily housing. The apartment developments are analyzed from deal closing through construction, lease-up, permanent mortgage commencement to stabilized operations.
- Analyze annual audited financial statements to evaluate: 1) operational performance and compliance with the partnership agreement and 2) operational performance as compared to underwritten projections.
- Analyze monthly unaudited financial statements to evaluate operational performance as compared to prior year activity.
- Review site visit reports and follow up with General Partners and Management Companies on issues identified in the site visit reports
- Assist in evaluating equity release requests by reviewing partnership documents to determine if required benchmarks have been satisfied – Including debt sizing and rental achievement analysis.
- Attend watch list meetings for troubled assets.
- Monitor construction progress through the review of monthly construction draw requests.
- Monitor lease up progress on a monthly basis
- Contact appropriate stakeholders for required documents and reports that have not been received.
- Assist in collecting annual asset management fees and distributions.
- Attend and participate in property inspections.
- Responsible for monitoring a small but stable portfolio of properties.
- Provide other administrative support as needed.
- Bachelor’s degree
- Strong written and verbal communication skills along with excellent analytical skills
- The ideal candidate will be comfortable not only reviewing financial statements, but have strong writing skills to be able to summarize property operations and real estate transactions.
- Experience or internship in a similar work environment of a least one year preferred
- Real estate experience preferred
- Some travel is required
- Ability to pass the HCCP (Housing Credit Certified Professional) exam within one year of employment