Director of Asset Management

Newport Beach, CA
Full Time
Senior Manager/Supervisor
At Community Development Partners, our vision for the future is a world of thriving, equitable communities. We work every day with a mission to create life-enhancing affordable housing by building innovative and sustainable developments with a focus on long-term community engagement. As a mission-driven, certified B Corp, we are unique in our field as a for-profit developer that leads with our impact goals. We are deeply proud of our work, and since our inception in 2011, have built, preserved, or are actively developing 55 unique projects comprising over 5,100 affordable homes throughout California, Oregon, Nevada, Arizona, and Colorado.

Sure, that’s what we do, and we are passionately committed to it, but equally as important is who we are as a team. We believe in forward progress, continuous collaboration, authentic connection, and mixing it all up with a healthy dose of fun. As an Equal Opportunity Employer, we offer a full suite of benefits that includes highly subsidized insurance, retirement plan with matching contributions, a sabbatical program, cell phone reimbursement, PTO, and more.

You are a strong and passionate leader, whose ability to grow and develop your team is one of your hallmarks. You have an accomplished track record in the affordable housing industry and healthy, collaborative external relationships. You can lead Asset Management’s strategic direction, while simultaneously understanding and supporting the operational and tactical elements of your team. We have a unique opportunity for a Director of Asset Management. As a valued member of the Executive team, you will lead a team of experienced professionals, implementing effective strategies that foster optimal performance, financial stability, and long-term growth of our portfolio of affordable multi-family assets.

Your role will involve:  
  • Develop and implement asset management strategies for the company's affordable housing portfolio and participate in strategic planning and overall direction of the company.
  • Manage, lead, and develop an experienced team of asset management and resident services professionals, providing guidance and support to achieve departmental goals.
  • Maintain collaborative and productive relationships with investment partners, community partners, public agencies, property management, and other industry professionals.
  • Collaborate with other departments to ensure a cohesive approach to the company's financial management and alignment with CDP’s long-term objectives.
  • Oversee the Resident Services and non-profit partners across the portfolio, working directly with the Services Program Manager to ensure onsite services are supporting residents housing stability.
  • Monitor the performance of all assets, ensuing properties perform against projections.
  • Prepare and present regular reports on asset performance, valuation, and risk assessment to owners, executive team, and other stakeholders.
  • Ensure compliance with all regulatory requirements and ethical standards related to asset management.
  • Implement risk management strategies to minimize potential losses and maximize returns.
  • Maintain an up-to-date understanding of industry best practices and incorporate them into the company's asset management approach.
  • Continuously review and improve asset management processes and systems to increase efficiency and accuracy.

If the following describes you, we want to hear from you:
  • Ability to lead and develop direct reports, providing challenging and stretching tasks and assignments while creating strong morale and spirit on the team, managing accountability as needed.
  • Ability to successfully interface and build strong cross-functional relationships with all levels of internal team members and external strategic partners (vendors, partners, elected officials, and other stakeholders and decision makers), finding common ground and solving problems for the good of all.
  • Ability to effectively maneuver through complex local political situations.
  • Strong written and verbal communication skills (in English), allowing for clear and succinct communication in a variety of settings (phone, video, in-person, email), and with people of various backgrounds and levels, both internally and externally.
  • Ability to assemble talented staff, hiring the best people available from inside or outside the organization.
  • Ability to accurately scope out length and difficulty of work and projects, anticipating and adjusting for problems, clearly assigning responsibility for tasks and decisions, setting clear objectives, ensuring progress and results, while embedding feedback loops into the work.
  • Clearly and comfortably delegates both routine and important tasks and decisions; broadly shares both responsibility and accountability; trusts people to perform; allows direct reports and others to finish their work.
  • A strong partner focus, with dedication to meeting the expectations, needs and requirements of internal and external partners, successfully gaining their trust and respect.
  • Willingness to stand up and be counted, taking personal responsibility for outcomes, and can be counted on when times are tough.
  • High level of expertise in real estate finance and a deep understanding of both affordable housing and LIHTC.
  • Advanced knowledge of affordable housing financing, and advanced analytical, financial, and quantitative skills, including the ability to review complex financial reports prepared by others.
  • Ability to solve problems involving multiple options, making decisions with an in-depth understanding and interpretation of procedures, company policies and business practices to achieve complex results.
  • Technically savvy with a thorough knowledge of MS Office (PowerPoint, Excel, Word) and comfort with Google Suite.
  • Ability to travel as required for property visits and stakeholder meetings; we estimate this to be 15- 20%.

Minimum Qualifications:
  • Bachelor’s degree in business administration, Urban Planning, Real Estate Development, Architecture, or another relevant field.
  • Minimum of 10 years of multi-family real estate asset management, property management or development.
  • Minimum 4 years of experience managing and developing direct reports.
  • Minimum 7 years of real estate Asset Management experience.
  • Minimum 5 years of low-income housing tax credit (LIHTC) experience (California-specific LIHTC experience helpful).
  • Experience with permanent supportive housing (PSH) preferred but not required.
  • Experience in property management preferred, but not required.
  • Experience in year 15 disposition preferred, not required.

The annual salary range for this position is $175,000-$220,000.

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