[Hiring] Vice President - Special Projects @McCormack Baron Companies

Role Description

The Special Projects Vice President of MBAM will handle a targeted portfolio of McCormack Baron Salazar developed affordable housing properties (“the Properties”) and will report directly to the President. The role encompasses two primary functions:

• Provide Asset Management Services for the Properties, 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, which include:
  • Developing a complete knowledge of the Properties in the portfolio
  • Providing direct oversight of property management functions
  • Frequent travel to properties
  • Relations with all MBS departments, lenders, state housing finance agencies, and other regulators
  • Relations with investors

Qualifications

• Bachelor’s Degree – preferably in Real Estate or Finance
• 3+ 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
• Perform inspections to review the physical structure for unusual deterioration or mismanagement
• Analyze the neighborhood, market conditions, trends, and their impact on the property
• Prepare reports 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, focusing on efficient resolution of noncompliance
• Communicate with City/County Agencies and management company regarding deficiencies in business licenses, health, and safety regulations
• Monitor the handling of paperwork and payment to agencies as needed
• Review Annual Owner’s Certificate of Compliance
• Review and approve replacement reserve withdrawal requests and ensure requests are consistent with documents

Company Description

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