National Equity Fund, Inc. (NEF), a leading syndicator of low-income housing tax credits, is seeking an Asset Manager for our Portland Office. The LIHTC program is the most important resource available today for creating affordable housing in the United States. NEF uses its extensive experience, talent and resources to create sustainable affordable housing.
The Asset Manager will be responsible for all property and asset management issues from development of the investment proposal throughout the life of the lower tier partnership to ensure the continuous delivery of tax credit benefits and projected passive losses. Analyze financial feasibility of investment proposals from the standpoint of property and asset management. Coordinate with other Team members to review and analyze all transactional plans related to on-time delivery of units and long-term operating success. Manage construction, lease-up schedule, cost certification, and 8609 executions to assure on-time delivery of first year credits and intervene when appropriate. Oversee the financial analyses, documentation, database maintenance, and other work outputs of the asset analyst. Continually assess project and partnership risk factors as they pertain to compliance with Section 42 (LIHTC) provisions. Mentor Analyst in identifying, interpreting, evaluating and mitigating risks and issues. Along with fellow team members, LISC and other intermediaries, duties also include establishing strong, productive working relationships with project sponsors, lenders, municipal and allocating agencies. Focus is needed on the continuous need to maintain project development files and project data.
The ideal candidate will have a minimum of a bachelor’s degree in real estate finance, economics, business, accounting or related field. Minimum 5 years experience in asset management and property management or real estate finance. Experience and technical knowledge of Section 42 LIHTC is a plus. A strong track record of asset management is essential with skills and knowledge of multifamily real estate operations; property management; marketing; leasing; budgeting; finance reporting and compliance with financing covenants or regulatory agreements. Applicant must also have keen analytical skills and proven ability to readily recognize, investigate, interpret, and communicate warning signs of potential problems. This position requires the following traits and abilities: self-starter; creative problem solver; presentation skills; team oriented; relationship builder; multi-task oriented and willingness to travel.
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