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Asset Manager

Company: RiseBoro Homecare Inc.
Location: Brooklyn
Posted on: November 26, 2022

Job Description:

"All persons newly hired for employment by RiseBoro must provide proof of being fully vaccinated by the first day of employment, except for those who obtain an exception due to medical or religious reasons through the reasonable accommodation process." ESSENTIAL DUTIES AND RESPONSIBILITIES The Asset Manager will assist with the evaluation of RiseBoros existing Real Estate portfolio, with the goal of strengthening RiseBoros Asset Management Capabilities. This position will work under the supervision of the Vice President of Real Estate and the VP of Housing, and will have a reporting relationship to the CFO and fiscal team. A qualified candidate should exhibit an interest in the connection between the built environment, community health and well-being. Responsibilities include:

  • Coordinate asset management functionality at interface with RiseBoros property management, development and fiscal teams to ensure timely task completion.
  • Liaise with Fiscal Department and Property Management Team to periodically update RiseBoro's Real Estate Owned (REO) schedule, Contingent Liabilities schedule, and Deferred Developer Fee Schedule.
  • Work with Business Manager, Property Management team and Fiscal team to do building-specific analytics including: comparing project underwritings to actual performance (income, expense, NOI, etc.); assisting with annual budgeting, as necessary; and tracking cash flow and deferred developer fee.
  • Work with Property Management team to assess capital needs within the existing RiseBoro portfolio. Assess the adequacy of reserves to address capital needs. When necessary, assess refinance possibilities for current RiseBoro properties. These could include RAD for PRAC, HPD PLP, Tax Credit Syndication / Re-Syndication, Fannie/Freddie/FHA executions, or other financing executions.
  • Lead activities (including underwriting) related to significant building recapitalizations within RBs portfolio, in coordination with RBs real estate development and construction management teams.
  • Work with Sustainability team to assess financing structures for energy upgrades and retrofits, including the RB Solar initiative and other new financing products related to sustainability measures.
  • Assist in tracking building performance (budget to actuals) across RBs portfolio of 2,000+ units, in close coordination with RB property management and fiscal teams, and serve as a bridge between the fiscal and property management teams at RiseBoro.
  • Work on Year 15 exits for existing LIHTC projects.
  • Assist in lease up, conversion, and transition to property management for development projects. This could include coordinating cost certifications and 8609s, establishing building utility accounts, finalizing operating budgets, and locking in permanent insurance.
  • Prepare and analyze annual income & expense reporting to identify trends. Develop comprehensive tracking mechanisms and KPIs for analysis. Also, prepare reports and summaries of portfolio analytics to present to senior management at RiseBoro.
  • Assist with preparation of deal books at construction closing (to be updated at conversion) & work with development team to transition meetings after construction closings.
  • Other related duties as assigned. COMPETENCIES:
  • 2-4 years of experience in affordable housing, development or related experience
  • Passionate about the affordable housing industry and sustainable building practices
  • Ability to work independently or as part of a team
  • Advanced Excel skills
  • Demonstrated experience / understanding of multi-family housing. Affordable housing experience preferred, although market-rate experience is an acceptable substitute.
  • Experience in low income housing tax credits (9% and 4%) transactions and/or year 15 transactions preferred
  • Highly organized, detail Oriented and self-motivated
  • Strong writing, communication and analytical skills EDUCATION EXPERIENCE Bachelors Degree (Masters in a related field is preferred) EEO/Affirmative Action Policy StatementIt is the policy of RiseBoro to provide equal employment opportunity to all employees and applicants for employment. No individual will be discriminated against on the basis of race, color, age, creed, religion, national origin, citizenship status, political or union affiliation, marital or partnership status, sex, sexual orientation or affectional preference, gender identity, familial status, genetic information or predisposition or characteristic, disability, status as a victim of domestic violence, status as a veteran or member of the U.S. military and related obligations, or any other characteristic protected by law. This policy applies to all terms and conditions of employment, including but not limited to, recruitment, hiring, job placement, compensation, benefits, training and apprenticeship, employee development, promotion, demotion, discipline, transfer, lay-off and recall, and termination. RiseBoro makes reasonable accommodations based on religion and/or disability as required by law, and requests for accommodation are to be directed to the Human Resources Department.

Keywords: RiseBoro Homecare Inc., New York , Asset Manager, Executive , Brooklyn, New York

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