Asset Manager

Newport Beach, CA
Full Time
Mid Level

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 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. 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 Asset Manager. 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. This position is hybrid and includes periodic travel to the properties within your portfolio. This is a hybrid position, working out of our Newport Beach, CA office 3 days each week. 

Your role will involve:  

  • Maintaining detailed working knowledge of 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, expenses and capital expenditures.
  • Overseeing and monitoring the achievement of benchmarks such as construction completion, qualified occupancy, stabilization, and permanent loan conversion of LIHTC projects.
  • Using your in-depth knowledge of property operations to guide property management in decision-making based on budgets, cash balances, development processes, and business plans.
  • 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.

If the following describes you, we want to hear from you:  

  • 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.
  • 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.

Minimum experience:

  • Bachelor’s degree in real estate, finance, economics, or a related field, or equivalent experience
  • Minimum 3 years of experience in affordable housing, either within Asset Management or as a Regional Manager in property management. 
  • Experience with Limited Partnership agreements, loan documents, regulatory agreements other legal documents relating to affordable real estate transactions.
  • Knowledge of, and experience with, the California market is preferred.
  • Experience with financial modeling a plus.
  • Master’s degree in real estate development a plus.

The annual salary range for this position is $110,000-$130,000.

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