Macdonald and Company are partnered with a thriving affordable housing group who have a presence across most major markets, nationally. The firm are a developer & owner operator, with the majority of the portfolio comprised of section 8 housing, LIHTC, as well as some senior living, student accommodation, and market-rate multifamily.
The company are growing their asset management platform implementing new systems/technology and bringing in new talent, to ensure the business is set up for long-term success.
The Role
The Asset Manager will be hired to sit in Denver, CO, to oversee a portfolio of assets in the Central region. The portfolio is predominantly affordable housing (Section 8 with some LIHTC), as well as senior living, student accommodation, and market-rate.
Role Responsibilities
- Craft comprehensive business strategies for your assigned asset portfolio
- Spearhead and oversee operational and financial performance, gaining in-depth knowledge of each project's operations and cash flow within your portfolio
- Evaluate asset performance through compilation, examination, and interpretation of financial data
- Conduct monthly financial assessments, deliver portfolio reports on a monthly and quarterly basis
- Develop internal cash flow models and forecasts
- Prepare annual revenue budgets, expense projections, and capital expenditure plans
- Coordinate with Property Management personnel and external management firms to finalize yearly budgets
- Relay expectations clearly to other departments
- Perform ongoing financial scrutiny to ensure distribution projections are met
- Generate and update property proformas regularly
- Leverage Yardi and other relevant technologies to accurately assess budgets and property operations
- Address and resolve high economic and physical vacancy issues for each property
- Investigate and implement grant programs to fund capital expenses at properties
- Conduct and produce rent comparable studies to gauge market rates for properties as needed
- Maintain a foundational understanding of HUD and LIHTC financial guidelines, documentation, and objectives to support successful management of government-subsidized housing
