Vice President, Asset Management - New York, United States - L+M Development Partners

L+M Development Partners

Verified Company

New York, United States

2 weeks ago

Posted by:

Mark Lane

beBee recruiter

Description

Sena Affordable Communities ("Sena") is the LIHTC preservation affiliate of L+M Fund Management ("LMFM").

Since 2014, the principals of Sena have been instrumental in the acquisition and renovation of over 10,000 units representing $2.8 billion in transactions across numerous markets, including New York's tristate area, Washington D.C., the West Coast, and the Sunbelt, Gulf Coast, and Midwest regions.

Sena acquires affordable multi-family assets across the U.S.

with the goal to renovate and modernize housing while preserving and extending long-term affordability through the use of Low-Income Housing Tax Credits and tax-exempt bonds.

Opportunity

Sena is seeking a VP, Asset Management to join an experienced team responsible for growing the LIHTC acquisition and redevelopment business across select markets nationwide.

Sena acquires, rehabilitates, and operates existing affordable housing assets with Low-Income Housing Tax Credits and tax-exempt bonds.

This is a new a position and the selected individual will be expected to act independently and collaborate with the team and senior leadership to design and implement a comprehensive asset management strategy to monitor the performance of the current portfolio while planning to scale the asset management function for the future.

We are seeking a dynamic, highly motivated, and versatile team player who can bring a broad mix of hard skills (e.g., financial reporting, portfolio management, analysis etc.) and soft skills (e.g., consensus building, leadership and ability to excel in community & government engagement) to all interactions.

Responsibilities:

Oversee rapidly growing portfolio of affordable multifamily assets across the county.
Take ownership of portfolio and implement business plans in accordance with individual property strategies to create and enhance value.
Monitor and evaluate financial operating results to enhance cash flow and profitability by completing monthly financial reviews and reviewing weekly property data.
Oversee renovation execution, including initial planning, working with general contractor on delivery timelines, and monitoring impact on residents, leasing, etc. This includes attending ongoing meetings with ownership, architect, and general contractor to ensure timely and quality completion of projects.
Collaborate with property management to identify challenges and execute timely and effective solutions. This would include management of budgets, staffing, capex, and other property programs.
Work with the investment team to help evaluate potential acquisitions, including location and asset/operations assessments.
Conduct regular site visits as needed to include but not limited to review of: curb appeal, status of capex projects and work orders, common area and vacant unit inspections, and personnel issues.
Assist in annual operating and capital budget preparation across the portfolio.
Oversee and ensure compliance with all regulatory programs associated with individual properties within portfolio.
Manage property level risk to minimize property or casualty loss and to protect both the physical plant of the portfolio assets and the Company's reputation.
Work closely with and efficiently manage third parties, including Brokers, Property Managers, Property Tax Consultants, Housing Finance Agencies, and Attorneys, to provide clear direction and skillbased leadership in executing on both the portfolio's strategy and the specific asset's business plan.
Effectively present information, provide ongoing reporting, and respond to questions from executive management, other company departments, and other stakeholders involved in the property / portfolio.

Qualifications:

Minimum of 7 years of multifamily asset management experience
Experience with affordable housing programs (i.e., HUD, Section 8, taxexempt bonds, and LIHTC) required.
Demonstrated success evaluating and implementing strategies to improve property level performance.
Selfmotivated and proactive with an established track record of working effectively and independently.
Institutional asset management background preferred (e.g. acquisition redevelopment, real estate private equity, real estate fund, etc.).
Strong financial modeling skills and proficiency in Microsoft Office Suite. Knowledge of Yardi (accounting software) and Procore (construction software) is beneficial.
Proven track record of success and leadership, with past accomplishments clearly demonstrating a creative handson approach to, and understanding of acquisition redevelopment, property operations, financing, leasing, marketing, investment, and ownership issues.
An intuitive and detailed sense of the dynamics and risks of each transaction. This person should have the ability to "look beyond the numbers" at the broader trends and research data to forecast and develop strategies for a variety of investment types under management.
A team player, able to wo