Assistant Asset Manager, Construction and Lease-up

Cinnaire - Grand Rapids, MI

Full-time - Mid Level

Grand Rapids, MI

Social Assistance

About the position

The Assistant Asset Manager, Construction and Lease-up (AAMCLU) is responsible for managing an investment portfolio, ensuring compliance with partnership agreements, loan documents, and regulatory agreements. This role supports the Asset Management team in managing a tax credit equity real estate portfolio, focusing on construction and lease-up processes.

Responsibilities

• Hold orientation meetings on all new deals with the development team.
• Ensure proper setup of new deals in the data management system.
• Monitor construction to protect debt and/or equity investments and ensure timely delivery of tax credits.
• Ensure construction is performed in accordance with loan documents and partnership agreements, including monitoring costs and timelines.
• Monitor lease-up to protect debt and/or equity investments and ensure timely delivery of tax credits.
• Monitor operations during the lease-up period to ensure compliance with applicable programs and timely conversion to permanent financing.
• Calculate net income/(loss) projections and monitor projected capital contribution needs.
• Process capital contributions and complete the conversion to permanent financing when applicable.
• Manage and monitor accurate, timely delivery of data to the data management system.
• Evaluate assets displaying signs of weakness and develop action plans.
• Collect and process performance information for each asset.
• Maintain business relationships with various stakeholders including investors, developers, and property managers.
• Manage reporting requirements of the tax credit investment portfolio quarterly and annually.
• Oversee the department mailbox to ensure timely data management.
• Assist in preparation of materials for industry conferences and partner meetings.
• Coordinate reserve draws and capital contributions.

Requirements

• Bachelor's degree in Real Estate, Urban Planning, Finance, Economics, Business, Accounting, or related field.
• 1-2 years of experience in a professional real estate setting.
• Experience using operating data from multifamily real estate to identify trends and issues.
• Strong Microsoft Office Suite skills.
• Reliable means of transportation to work and property sites.

Benefits

• Profit sharing
• AD&D insurance
• Disability insurance
• Health insurance
• Unlimited paid time off
• Dental insurance
• Flexible spending account
• Employee assistance program
• Vision insurance
• 403(b)
• Life insurance
• Pet insurance