LIHTC Asset Manager

Full time
$75,000 to $90,000
Locationlacounty Calendar06/22/2017   Full time $75,000 to $90,000

Company
AMCAL is a $2 billion developer, general contractor and owner of diverse residential real estate projects including student, market-rate and affordable housing in California and Texas. AMCAL’s headquarters are located in Agoura Hills with additional offices in West Los Angeles and Tustin, CA.
Asset Manager
This position reports to the Director of Asset Management and is responsible for the performance of assets in the Company’s affordable housing portfolio. This is an opportunity to join a fast-paced team environment with opportunities for growth. The ideal candidate has 3-5 years of experience in Low-Income Housing Tax Credit (LIHTC) asset management working for a General Partner. Success will be dependent on the candidate’s ability to thrive in an environment that is highly entrepreneurial, strategic and creative which requires rapid learning, multi-tasking and prioritizing under tight deadlines.

Responsibilities
Perform review of monthly property financial statements, including analysis of balance sheet, income statement and variance report, to support portfolio performance reporting for senior management, lenders and investors.
Assess project and partnership risk factors as they pertain to compliance with Section 42 (LIHTC) provisions, terms of the partnership agreement, loan documents, LURAs, QAPs, and tax credit application.
Analyze property performance, valuation, market trends and operational strengths and weaknesses to inform strategies for maximizing value to the company.
Provide operational feedback to Construction and Development teams to inform design, leasing, financing and disposition strategies for new development projects.
Support due diligence efforts related to the acquisition, capitalization and disposition of assets.
Coordinate regular asset calls and site visits with property management teams to ensure goals and budgets are being met, and if not, determine strategies for corrective action.
Negotiate and monitor contracts including leases, management agreements, vendor contracts, utility contracts, etc. to protect ownership rights and ensure contract compliance.
Establish strategies for the resolution of insurance claims and tenant legal proceedings related to non-payment, illegal, and fraudulent activity at the property and/or tenant level.

Qualifications and Skills
Bachelor’s Degree with a concentration in Real Estate, Finance, or Business
Advanced degree preferred but not required
3-5 years of relevant experience in multi-family asset management (GP side)
Experience with Prolink or Integratech asset management software a big plus
Working knowledge of Section 42 (LIHTC) principles and requirements
Strong analytical and quantitative skills with emphasis in financial analysis
Understanding of real estate accounting principles and financial reporting procedures with ability to analyze variances
Able to read, analyze, and interpret complex business documents including leases, financial reports, contracts, loan documents and regulatory agreements
Proficiency with Microsoft Office suite. Strong understanding of Excel is a must.
Able to work proactively, independently and as a strategic partner in a team environment
Effective presentation and communication skills, both verbal and written
Some travel may be involved

Position
Based in Agoura Hills, CA.
A criminal background check and review of current driving record may be required.

Job Benefits
Salary – $75,000 to $90,000 annually D.O.E.
Health/Dental/Chiropractic coverage available for individual after three months. Dependents can be covered at employee’s expense
Three weeks Paid Time Off annually (after 30 days) for the first six years
Full health coverage and benefits (after 90 days)
401(k) retirement plan (after six months)
Life Insurance
Eight paid holidays
Discretionary bonus based on individual and company performance

Applications

No phone calls, please

Please email a cover letter (including salary history and expectations) and resume to hr@amcalhousing.com

AMCAL General Contractors, Inc.
The AMCAL Group of Companies, one of the Nation’s leading housing development companies, is developing quality rental and ownership residential properties throughout California and Texas including Affordable Housing, Luxury Apartment Housing and Student Housing. The Company was founded in 1978. An affiliated company, AMCAL General Contractors, Inc. builds all of AMCAL’s projects. For more information, visit our website at https://amcalhousing.com. AMCAL General Contractors, Inc. is an equal opportunity employer.

 

Please email a cover letter (including salary history and expectations) and resume to hr@amcalhousing.com. No phone calls, please.