ASSET MANAGER

Summary

 The Asset Manager (AM) is responsible for a portfolio of approximately 40 properties and serves as the primary contact for the portfolio’s investors and lenders. The portfolio includes a mix of property and financing types, including a number of public housing properties. The AM acts as the representative of the owner of each property and as such, they are directly responsible for ensuring that the long-term financial health of properties in the portfolio meets BRIDGE, owner and lender requirements.

 

The AM works closely with several cross-functional teams focused on the financial health of the portfolio, including Property Management and individual property site staff, Accounting, Legal, Insurance, and Development. The AM has extensive external contact with BRIDGE’s consultants (legal, financial, etc.), regulatory agencies, lenders and investors.

 

Responsibilities

 General

Create and maintain comprehensive asset management/strategy plans for each property in assigned portfolioAs assigned, work with Development and Property Management to create accurate pro forma and long-term strategic plans for new propertiesComplete portfolio analysis and summary reports to determine concerns impacting the financial and/or physical health of the assetEnsure properties are meeting financial goals as projected/required under all agreements or regulationsReview all reporting information due to investors/lendersResearch partnership agreements, financing documents, regulatory agreements, tax returns, and other source documents to determine constraints and barriers to long-term needsConduct site visits, document property condition and develop corrective action as appropriateReview all governing documents for new and existing propertiesCollaborate with others to resolve issues related to cash-flow and long-term capital needs, including working with investors/lenders to free-up existing reserves or secure loansMonitor property commercial spaces and work with brokers to market and negotiate leases with prospective tenants

 Financial Analysis

Evaluate property plans to ensure surplus cash will meet long-term corporate cash flow targetsManage annual budget process with assigned portfolio; propose solutions to cash-flow issuesMonitor portfolio to ensure that financial performance is in-line with the budget and that variance explanations meet BRIDGE and investor/lender requirementsMonitor and review audits to ensure surplus distributions are made correctly and on a timely basisMonitor that properties moving into operations are meeting financial performance according to the pro forma

 Relationship Management

Establish and maintain good working relationships with lenders and investors as the primary contact for properties in the assigned portfolioNegotiate with partners and/or lenders as needed to amend agreementsFacilitate approval processes with lenders and/or investors as neededDevelop and sponsor occasional meetings to review portfolios with investors, lenders, and internal groups, including the coordination of on-site property visits in the portfolioPrepare annual Board reports for single purpose entities and projects with outside partnersCoordinate all responses to questions from investors/lenders on assigned portfolio

 Physical Planning

Review long-term capital plans for the properties in assigned portfolio, suggesting adjustments to the Portfolio Rehabilitation Manager if necessary, managing reserve balances to meet long-term cash needs, identifying those properties requiring outside funding, and ensuring that major projects are progressing on plan

 

Qualifications

Three or more years of experience in real estate or finance with emphasis on financial analysis of large portfoliosBachelor’s Degree in Finance, Business Administration, Accounting or related fieldExperience in at least four of the following areas: non-profit affordable housing, refinancing of debt, HUD regulatory programs, real estate accounting, financial analysis, property management or project developmentDemonstrated proficiency with Excel and WordAbility to multitask and adapt to changing priorities in a fast-paced and collaborative environmentAbility to present comfortably and in a well-organized manner in front of large groupsAbility to prepare financial feasibility analyses and strategic plans, conduct research, and prepare narrative reports and proposalsStrong analytical and accounting skillsStrong written and verbal communication skillsGood business and financial judgmentAbility to work effectively with all levels of staff in many departments, external financial professionals, and public officialsExperience with, or strong interest in, non-profit organizations and BRIDGE’s missionAbility to provide day-to-day support of assigned portfolio with minimum supervision

 

 BRIDGE Housing is an Equal Opportunity Employer committed to fostering an inclusive environment for our diverse workforce. We do not discriminate on the basis of race, religion, color, national origin, gender identity, sexual orientation, age, marital status, veteran status, or disability. Pursuant to the California Fair Chance Act, we will consider qualified applicants with arrest and conviction records.