Senior Asset Manager

Portland, OR
Full Time
Experienced

At Community Development Partners (CDP), we are deeply proud of our track record of providing award-winning solutions to housing. We work every day to achieve our mission of creating life-enhancing affordable housing that transcends the fundamental goal of providing high quality homes 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. Since our inception in 2012, we have built a portfolio of nearly 3,000 homes with another 1,000 in our pipeline, amounting to over $1.2 billion in total development costs.

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. We are a hybrid team, which means you get the best of both worlds – in-person connection and collaboration while in the office, and quiet focus-time while at home. 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.

We’re looking for a new Sr. Asset Manager to join our Portland Asset Management team. In this role you will lead a growing portfolio of affordable housing communities, ensuring the portfolio initiatives and performance are in alignment with our mission-based goals. We operate on a hybrid work model, with three days in our Portland, OR office and two days remote each week.

Your role will include:

  • Maintaining detailed working knowledge of each project within your portfolio.
  • Driving and managing operational and financial performance, understanding all aspects of operations and cash flow for each project within your portfolio.
  • Monitoring asset performance by collecting, reviewing, analyzing, and reporting on asset financials, including monthly financial reviews, monthly and quarterly portfolio reporting, internal cash flow modeling and forecasting, annual budgeting of revenue, and expenses and capital expenditures.
  • Proactive collaboration with Development, ensuring alignment and efficiencies that thoughtfully and intentionally manage and mitigate Cap Ex spending.
  • Overseeing and monitoring the achievement of benchmarks such as construction completion, qualified occupancy, stabilization, and permanent loan conversion of LIHTC projects.
  • Assist in shaping 3rd party property management policies for the CDP portfolio, while guiding and influencing property management in decision-making based on budgets, cash balances, development processes, and business plans.
  • Successfully navigate and negotiate conflicting interests between ownership, operations and services.
  • Partnering closely with our resident services coordinator to ensure resident and community goals and objectives are met.
  • Ensuring compliance for your portfolio by tracking and overseeing management company filings including state, lender, and investor reporting, as well as tax exemptions by non-profit partners.
  • Additional tasks and duties, as assigned.

If the following sounds like you, we want to hear from you:

  • Ability to successfully interface and build strong cross-functional relationships with all levels of internal team members and external strategic partners (agencies, legislators, elected officials, jurisdictions, other stakeholders, and decision makers), finding common ground and solving problems for the good of all.
  • Ability to understand and update complicated financial models, project long-term cash flow, calculate DSCR, etc., and to communicate with internal/external finance professionals based on internal modeling.
  • Strong written and verbal communication skills (in English), allowing for clear and succinct communication in a variety of settings (phone, in-person, and email), and with people of various backgrounds and levels, both internally and externally.
  • 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.
  • Thorough understanding of MS Office and Google Workspace, with advanced knowledge of MS Excel.
  • A strong customer focus, with dedication to meeting the expectations, needs and requirements of internal and external customers, successfully gaining their trust and respect.
  • Willingness to roll up your sleeves and dig in, finding creative solutions to new and old challenges.
  • Ability to work successfully both independently and with others, building professional working relationships based on mutual trust and respect.
  • Comprehensive understanding of financial statements, including Operating Statement, Rent Roll, Balance Sheet, and Aged Receivables.
  • A strong understanding of development, finance, operations, or affordable housing.
  • Strong planning and organizing skills, with the ability to work on multiple projects simultaneously and while adhering to deadlines.
  • Ability to periodically visit your portfolio of properties, including driving to your nearby assets and flying to your other West Coast properties.
  • Willingness and ability to travel to, and work from, CDP's Newport Beach, California office at least once per month.

Minimum qualifications for consideration:

  • Bachelor’s degree in real estate, finance, economics, or a related field, or equivalent experience
  • Minimum 5 years’ experience in real estate asset management or property management, with at least 2 years of direct real estate asset management experience.
  • Minimum 4 years of direct LIHTC experience.
  • Experience with, and a deep understanding of, financial modeling.
  • Experience with Limited Partnership agreements, loan documents, regulatory agreements and other legal documents relating to affordable real estate transactions.
  • Master’s degree in real estate a plus.
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