[Hiring] Vice President of MBAM @McCormack Baron Companies

Role Description

The Vice President of MBAM will handle a portfolio of McCormack Baron Salazar developed affordable housing properties (“the Properties”) and will report directly to the President, performing two primary roles:

• Provide Asset Management Services for the Properties as directed by MBAM, including:
  • Evaluation of operating performance
  • Site inspections
  • Compliance issues
  • Cash flow/operating deficit management
  • Acquisition, refinance, re-syndication and disposition strategies
• Perform General Partner Functions as directed by MBAM, which includes:
  • Developing complete knowledge of the Properties in the portfolio
  • Providing traditional owner services
  • Supporting and overseeing property management
  • Managing relations with MBS departments, lenders, state housing finance agencies, and other regulators
  • Maintaining relations with investors

Qualifications

• Bachelor’s Degree – preferably in Real Estate or Finance
• 4+ years of real estate experience, with a preference for multifamily asset or portfolio management experience
• Experience in Section 42 housing preferred
• Microsoft Excel proficiency required
• Financial acumen
• Strong communication skills

Requirements

• Develop a comprehensive knowledge of the portfolio assigned
• Participate in MBAM portfolio strategy and Capital Projects
• Re-syndication, Recapitalization, Refinance, GP Exit, Disposition
• Review financial statements and operational performance to find areas of opportunity and/or improvement
• Review Investor site visit and compliance reports, report issues noted, and track on watch list
• Review and approve property budgets prepared by property management companies and make recommendations to improve cash flow and value
• Review annual audited financial statements
• Participate in quarterly Cash Flow meetings
• Review/approve annual Capital Expense Budget
• Physical inspection of Watch List MBS properties as needed
• Prepare site visit report of the financial and physical conditions, risks, and opportunities for the properties and portfolio
• Review citations, letters, and notifications from Cities, State Agencies, Trustees, Servicers, and direct them to responsible parties with follow-up as needed
• Review compliance findings from State Agencies and report unsatisfactory findings as needed
• Monitor response to audit findings by management companies
• Communicate with State Agencies, investors, management companies for EUA/LURA change requests
• Communicate with City/County Agencies and management company any deficiencies in business licenses, health, and safety regulations
• Review Annual Owner’s Certificate of Compliance
• Recommend physical needs assessment and capital plan as needed
• Review and approve replacement reserve withdrawal requests and ensure requests are consistent with documents
• Work closely with MBS development, management, and investor for New Construction/Lease-Up
• Coordinate/arrange investor reporting by management prior to lease-up
• Monitor management compliance to deliver unit qualification information and year 1 file information to investors

Company Description

McCormack Baron is an equal-opportunity employer and makes hiring decisions based on merit.