Portfolio Asset Manager

$69,992 - $94,162/Yr

Reach Cdc - Portland, OR

Full-time - Mid Level

Portland, OR

About the position

The Portfolio Asset Manager at REACH is a pivotal role responsible for ensuring the long-term health and compliance of the organization's real estate portfolio. This position involves managing a portfolio of Low-Income Housing Tax Credit (LIHTC) and HUD financed properties, ensuring that all properties maintain a strong financial position while adhering to contractual, regulatory, and statutory requirements. The Portfolio Asset Manager serves as the primary contact for investors, lenders, and regulatory agencies, facilitating compliance and reporting processes. This role is designed to support the organization's mission of providing quality affordable housing and opportunities for individuals and communities to thrive. In this position, the Portfolio Asset Manager will oversee the management of property files, loan documents, partnership agreements, and other essential documentation, ensuring that all protocols for storage and archiving are met. The role requires the preparation and submission of compliance reports to various stakeholders, including investors and monitoring agencies, to maintain transparency and accountability. Additionally, the Portfolio Asset Manager will compile resident income data to support annual tax exemption applications and work closely with the Director of Asset Management on processing these applications and managing any necessary appeals. The Portfolio Asset Manager will also monitor property performance against established benchmarks, assist in creating annual operating budgets, and work with property management to optimize financial performance. This includes recognizing and addressing performance issues, processing reserve transfer requests, and analyzing opportunities for refinancing and energy efficiency upgrades. The role involves collaboration with various departments and stakeholders to ensure effective management of new construction and acquisition/rehab properties, as well as ongoing training and skill development to stay updated on regulatory compliance and industry best practices. Overall, the Portfolio Asset Manager plays a crucial role in maintaining the integrity and success of REACH's real estate portfolio, contributing to the organization's commitment to anti-racism and the elimination of oppressive systems that harm communities of color.

Responsibilities

• Manage a portfolio of LIHTC and HUD financed properties, ensuring compliance with regulatory requirements.
• Prepare and submit compliance reports to investors, lenders, and monitoring agencies.
• Maintain and organize property files, loan documents, and partnership agreements.
• Compile resident income data for annual tax exemption applications.
• Monitor property performance against benchmarks and assist in creating annual operating budgets.
• Identify refinancing opportunities and strategies for expiring debt.
• Work with property management to implement risk mitigation best practices.
• Coordinate setup and operations for ongoing management at project stabilization.
• Attend development team meetings for new project acquisitions and provide input on management impacts.
• Facilitate communications with community and industry groups, including partners and regulatory bodies.

Requirements

• Bachelor's Degree in business, real estate development, or a related field preferred.
• Minimum 3 years of experience in asset management and/or related LIHTC/affordable housing experience.
• Knowledge of public and private housing finance programs and compliance requirements, including HUD and IRS Section 42.
• Excellent working knowledge of Excel and Word; Access skills preferred.
• Strong analytical skills and understanding of accounting principles.
• Ability to provide financial analysis, cash flow projections, and operating budgets for projects.
• Experience with utility monitoring software and databases strongly preferred.
• Excellent verbal, written, and interpersonal communication skills.

Nice-to-haves

• Familiarity with Office 365 and utility monitoring software.
• Experience in commercial leasing and tenant management.
• Knowledge of energy efficiency upgrades and grant opportunities.

Benefits

• Flexible work schedule
• Professional development opportunities
• Commitment to diversity and inclusion
• Support for anti-racism initiatives