Senior Manager, Asset Management

About This Role

Lincoln Avenue Communities (LAC) is seeking a Senior Manager, Asset Management to join our experienced team of real estate professionals who manage a diverse portfolio of affordable multi-family housing properties across the United States. LAC has a robust pipeline of property acquisitions and an aggressive plan to grow its national portfolio.

This role is responsible for providing strategic oversight, monitoring, and reporting on asset-level and portfolio-level performance. Additionally, the role will require that the individual identify regional trends and potential issues and provide a solution-based approach to mediating challenges that arise. Assisting the team with business plan development and implementation will also be critical. As a manager, you are responsible for collaborating with Senior Business Leaders, the Development team, property management, vendors, lenders, CPA’s, investors, equity partners and various governmental agencies. This role is designed to manage a regionally based portfolio of multifamily properties from acquisition to disposition.

The position reports to our Director, Asset Management and works closely with other members of the Asset Services, Development, and Finance teams. Approximately 20% travel is required throughout the United States.

This is a hybrid role (3 days a week in office) located in Denver, CO.

What You’ll Do

• Oversee the financial and operational performance of a regional multifamily affordable housing portfolio, including assisting in the monitoring of construction, leasing, stabilization, New Acquistions and ongoing management and compliance strategies.
• Oversee a regional team, provide feedback, guidance, and opportunities for development.
• Work to develop and enhance regional partnerships (HA’s, PMA’s, Local Housing Agencies, etc.)
• Improve the property monitoring and risk management processes including overseeing third party property management companies. Make recommendations and provide oversight based on performance and physical conditions of properties to mitigate risk or increase cash flow.
• Analyze appropriateness and timing of equity installments and property operating reimbursements. Perform thorough analyses of financials and aid in the preparation of tax returns and audits. Assist with compliance maintenance in a variety of affordable housing programs (Section 8 and Section 42). Maintain terms of partnership agreements, loan documents, LURA’s and various property agreements.
• Oversee implementation of various business strategies.
• Coordinate effective execution of portfolio-wide initiatives.
• Assist in the continued development and refinement of Asset Management infrastructure, protocol and procedures.
• Address investor, lender and equity partner requests and deadlines as needed.
• Coordinate capital projects with on-site management and submit proof of required loan/agreement requirements to our partners timely.
• Manage oversight of year-end budgeting process and closely manage property expenses to increase cash flow.
• Assist with projects and tasks as assigned.

Requirements

Your Education and Experience

• Undergraduate degree with a minimum of 5 - 8+ years of relevant experience in areas such as real estate and/or finance.
• Affordable housing experience required.
• New acquisition & new construction experience is a plus.
• Experience managing 1-2 team members preferred
• Proficient in Microsoft Office suite, including Word, Excel and PowerPoint.
• Proficient in Section 42 LIHTC and Section 8 HUD regulations and regulatory agreements, and HUD programs.
• Experience with Yardi preferred.

Benefits

What We Offer 

The expected base salary for the role is $175,000. This represents the current range and is subject to change. To determine starting pay we carefully consider a variety of factors, including primary work location and an evaluation of a candidate’s skills, experience, market demands, and internal parity. Our comprehensive total rewards package offers more than just a salary.

Benefits include: 

• Performance-based bonuses 

• 100% fully paid medical, dental, and vision coverage for you and your dependents 

• 401(k) plan with employer matching and immediate vesting 

• Life and disability insurance 

• Generous PTO, holidays, and sick time 

• Paid parental leave 

• Employee referral incentives 

• Fun company and team-building events 

• Continuous learning and development opportunities