[Hiring] Asset Manager @Enterprise Community Partners

Role Description

The Asset Manager, Real Estate Equity will oversee a portfolio of restricted affordable housing (LIHTC, Section 8, etc.) and unrestricted workforce housing investments associated with the Real Estate Equity funds through site visits, in-depth financial review and problem resolution/workouts (as needed) to ensure execution of underwritten business plans. The position will also provide support for advanced problem-solving function for the Real Estate Equity team as investment business plans change over time and require modification, as well as leading the disposition efforts for each fund investment. The principal goal is to maintain the viability, quality and affordability of Real Estate Equity fund investments while protecting the interests of fund investors meeting or exceeding fund investor returns.

Responsibilities

• Manage real estate portfolio of approximately 15 - 20 properties for which Enterprise provides asset management for Real Estate Equity funds.
• Identify, communicate and work to mitigate risks/problems via reporting tools and information gained through communications with General Partners/Sponsors, property managers, and via on-site visits.
• Review, analyze and evaluate monthly property performance as compared to proforma and budget, and provide regular feedback and recommendations both externally to General Partners/Sponsors and investors and internally to Real Estate Equity team.
• Work closely with General Partners/Sponsors, funders and regulatory agencies to execute underwritten business plans and coordinate efforts with each to modify business plans, as necessary.
• Negotiate problem resolution/workout strategies with general partners, lenders and public-sector entities, as necessary.
• Conduct project site visits, review property management systems, review organizational systems and provide technical assistance, as necessary.
• Evaluate past and forecast future property performance, and performance of Sponsors and management agents.
• Author disposition memos and refinance analyses, working with Vice President Asset Management to garner feedback and approvals.
• Support portfolio implementation of Enterprise’s strategic plan, ESG priorities and fund specific and/or investment-specific business plans.
• Work with Housing Credit Regional Asset Management teams to develop communication strategies with common partners, as necessary.
• Interface regularly with Vice President Asset Management during project performance reporting cycles.
• Interface regularly with others on Real Estate Equity team during monthly update meetings.
• Interface quarterly with internal Investment Committee and external Advisory Committee during scheduled and ad hoc meetings.
• Track insurance renewals, real estate tax payments and appeals and monitor market conditions.
• Complete internal and external reports accurately and meet all deadlines.
• Interact with Enterprise staff to provide accurate and timely information.

Qualifications

• 5-7+ years’ experience with real estate, housing programs, finance, accounting, law, and/or property management.
• Bachelor’s degree required, preferably in real estate, finance, accounting or related field.
• Strong financial analysis skills are required.
• Familiarity with loan documents, partnership agreements, contracts and other legal documents is required.
• Knowledge of real estate and LIHTC are required.
• Strong computer skills are required; thorough knowledge of MS Word, MS Excel, and MS Outlook are preferred.
• Ability to adjust quickly to changing priorities and circumstances is required.
• Ability to work evening and weekend hours during peak periods is required.
• Strong organizational skills and ability to coordinate complex activities, prioritize conflicting demands and meet deadlines.
• Must be highly motivated.
• Must be able to work independently with a minimum of supervision.
• Must demonstrate strong interpersonal skills working with a wide variety of professional and non-professional personnel.
• Strong problem solving and negotiating skills are required.
• Must possess strong written and oral communication skills.
• Able to travel as necessary to accomplish the goals for the position.
• Incumbent is expected to demonstrate strong ethics in interpersonal relations and work as an effective, collaborative team member.

Requirements

• Ability to work under stress/pressure.
• Ability to travel for flights up to 25% of the time.
• Ability to climb stairs offsite at project sites.
• When visiting project sites, incumbent may be exposed to varying environmental conditions (e.g., outdoor weather, dirt, dust, and other construction work site hazards).
• Valid driver’s license required.

Benefits

• Comprehensive total rewards package including annual performance bonuses and generous paid leave programs.
• Dental, health, and vision care plans, as well as family-building benefits such as adoption and surrogacy support.
• Flexible work arrangements to promote work-life balance.
• Health advocacy, Employee Assistance Program (EAP), and mental health benefits.
• Financial education, wellness programs, and auto-enrollment in the company’s 401(k) plan with employer matching contributions.
• Access to learning and development opportunities, including tuition reimbursement for job-related courses and certifications.