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    Asset & Investment Manager - New York, United States - Community Preservation Corporation

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    Job Description

    Job DescriptionAbout Us:

    The Community Preservation Corporation (CPC) believes stable and sustainable affordable housing is the foundation of strong communities and we strive to contribute to comprehensive neighborhood revitalization through our lending and partnerships. A nationally recognized leader in affordable housing finance, CPC has provided a consistent source of capital to underserved housing markets throughout New York State since our inception in 1974.

    Today, CPC stands as the largest CDFI solely committed to investing in multifamily housing, having invested more than $11.9 billion to finance the creation and preservation of more than 220,000 units of quality housing in neighborhoods across New York State and beyond. CPC has a robust construction lending platform, a mortgage bank, and equity and impact investment platforms that focus on our three goals: Expanding Affordable Housing, Closing the Racial Wealth Gap and Investing in the Green Economy.

    As a member of our team, you'll have the opportunity to work on impactful projects that make a real difference in people's lives. We're looking for talented individuals who are passionate about our mission and share our values of commitment, respect, excellence, accountability, and collaboration.

    Role Summary:

    CPC's Equity Investments platform invests CPC's own capital into affordable, workforce, and transformational housing developments. Since 2017, our team has originated, acquired, and asset-managed a successful and diverse book of affordable housing investments that deliver strong mission-aligned risk-appropriate returns. Our flexible investment thesis currently focuses on national opportunities around stabilized, cash-flowing properties. Our portfolio also includes funds and corporate capitalizations.

    The Asset & Investment Manager will support our asset management efforts by tracking and monitoring investments, while participating in both tactical and strategic activities under the guidance and in cooperation with a Senior Asset & Investment Manager. This role will analyze and oversee the development and operations of a real estate asset, the corporate operations of an operating partner, or the investment portfolio of a fund.

    What You'll do:

    • Oversee and monitor the diverse portfolio of real estate assets, operating partners, and investment funds through rigorous analysis of performance indicators, in-depth reporting, and identifying trends and potential issues.
    • Conduct periodic site visits, attend partner meetings, and maintain open communication to ensure comprehensive investment understanding and foster strong relationships.
    • Drive strategic initiatives within the existing portfolio, identify opportunities, provide recommendations, and lead capital events such as closings, dispositions, and refinancing.
    • Develop comprehensive financial models, scenario planning, valuation analyses, and property return projections across the portfolio.
    • Oversee budgets, business plans, monitor short- and long-term projections, and analyze portfolio performance against strategic objectives and financial targets.
    • Monitor construction progress of rehabilitation and preservation assets.
    • Stay ahead of market trends and affordable housing best practices by actively conducting research, attending industry events, meetings, and site tours, and analyzing market dynamics, building assumptions, standards, rental rates, operating expenses, and financing sources to inform strategic decision-making.
    • Collaborate closely with the investment team on new deal opportunities, providing valuable market and portfolio data, supporting due diligence efforts, and partnering with the Sustainability team to identify and implement projects that reduce energy costs and mitigate environmental impacts across the property portfolio.
    • Perform other departmental duties, as requested.

    Skills and Experience:

    • Masters degree in Planning, Real Estate or 2+ equivalent years of work experience in real estate, urban planning, public administration, asset management, or business/finance required.
    • A demonstrated interest in affordable housing, community development and/or impact investing.
    • Strong Excel, financial analysis, and modeling skills; able to analyze and create real estate proformas.
    • Strong organizational skills with the ability to prioritize and multi-task; detail-oriented.
    • Excellent written and verbal communication skills.
    • Effective, self-motivated project manager, works independently and as a member of a team.
    • Experience with affordable housing financing preferred.
    • Experience with construction or property management, means and methods, or oversight preferred.

    What We Offer:

    • Competitive compensation
    • 401(k) retirement plans with employer match
    • Medical, dental, and vision benefits for employees and their dependents
    • Commuter benefits
    • PTO for vacation, personal days, sick leave, holidays, jury duty, bereavement, parental leave, and disability
    • Tuition assistance program
    • Two "work from anywhere" weeks per year
    • Summer Fridays
    • Collaborative working spaces
    • Service days to support our communities
    • Employee development and engagement events
    • More about our offerings and culture here

    This is a full-time, hybrid role where you will work from the Manhattan office two – three days a week. The salary range is $105,000 – $120,000, dependent on experience.

    The Community Preservation Corporation is an Equal Opportunity Employer and all employment-related decisions including recruitment, selection, evaluation, promotion, compensation, training and termination are made without regard to race, creed, color, national origin, sex, disability, marital status, status as a veteran, sexual orientation or gender identity, or any other protected status.


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