Senior Asset Manager

At Community Development Partners, 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 2011, we have built, preserved, or are actively developing over 55 unique projects comprising 4,800+ units of affordable housing throughout Oregon, California, 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.

As part of our dedicated Asset Management team, we need your interpersonal savvy and your financial acumen as our newest Senior Asset Manager. As one of our Senior Asset Managers, you will manage a defined portfolio of CDP-owned affordable housing communities. This includes supporting and stabilizing several of our challenged assets, ensuring financial performance and service levels are in alignment with our mission-based goals and performance targets. This is a hybrid position, working out of our Portland, OR office 3 days each week. Your weekday may include site visits and/or attendance at out of office work related events.  

Your role will involve:  

• Maintain detailed working knowledge of each project within your portfolio.
• Drive and manage operational and financial performance, understanding all aspects of operations and cash flow for each project within your portfolio.
• Monitor 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.
• Collaborate with Development, ensuring alignment and efficiencies that thoughtfully and intentionally manage and mitigate Cap Ex spending.
• Oversee and monitor the achievement of benchmarks such as construction completion, qualified occupancy, stabilization, and permanent loan conversion of LIHTC projects.
• Assist in shaping 3^rd 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.
• Lead, mentor and develop direct report(s), fostering a culture of accountability, continuous improvement, and professional growth.
• Successfully navigate and negotiate conflicting interests between ownership, operations and services.
• Partner closely with our resident services coordinator to ensure resident and community goals and objectives are met.
• Ensure 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 responsibilities as assigned.

If the following describes 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 update complicated models, project long-term cash flow and calculate DSCR.
• Ability 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.
• 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.
• 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 travel to your West Coast properties and California office.

Minimum experience:

• 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 Limited Partnership agreements, loan documents, regulatory agreements and other legal documents relating to affordable real estate transactions.
• Experience with financial modeling a plus.
• Master’s degree in real estate a plus.