1+ months

Director/Senior Director, Asset Management

Standard Property Company Inc
Washington, DC 20036
Apply Now
Apply on the Company Site
  • Job Code
    186054529

Title: Director/Senior Director (VP), Asset Management

Reports to: Senior Director, Acquisitions & Redevelopment

Location: Remote, preference shown for Washington, D.C. area

Position: Full Time

THE COMPANY

Standard Communities is an award winning affordable, workforce, and mixed-income housing innovator. As one of the AHF Top 50 largest owners of affordable housing in the country, Standard cultivates long-term public and private partnerships to produce and preserve affordable, environmentally sustainable housing.

The work we do is essential at reducing the affordable housing crisis, and our portfolio of over 85 communities and 14,000 units, provides high-quality housing for more than 32,000 people. Our team consists of more than 70 people across the country, including industry leaders in finance, construction, and asset management, who lead our industry at creating quality housing and strong communities.

Founded in 2008, Standard Communities is relentlessly focused on growth and has completed more than $4 billion in housing transactions with a portfolio that spans 17 states. As a California Benefit Corporation, we are socially conscious entrepreneurs that value high performance, corporate responsibility, and innovation.

Our long-term goal is to own more than 50,000 units and provide affordable, environmentally sustainable housing to more than 100,000 people by 2030. We are looking for curious, ambitious self-leaders to join our fast-moving, forward focused team.

Interested?Read more about the latest opportunity to join our team below

THE POSITION

Reporting to the Senior Director of Acquisitions & Redevelopment, the Director/Senior Director (VP) of Asset Management is our primary liaison between ownership and 3rd party property management. This role is responsible driving asset performance and business plan execution, specifically as it relates to LIHTC Acquisition and Redevelopment affordable housing projects.

What You Can Expect To Do

  • Monitor and maintain the physical integrity, safety, and market reputation of our communities and our brand; conduct frequent site inspections.
  • Analyze and ensure the integrity of weekly, monthly, and quarterly property-level financial reports from 3rd party property management partners.
  • Strategically manage property cash flow and cash reserves during redevelopment.
  • Manage the tenant in-place renovation process; train relocation coordinators, monitor relocation and renovation trackers. Ensure compliance with federal guidelines.
  • Monitor construction progress and funding schedule, including loan draws, delivery of Equity Installments, and the calculation of equity adjusters.
  • Track and manage Debt Service Coverage Ratio and other key metrics including the status of leasing activity, to ensure the property achieves Qualified Occupancy, Stabilization and Conversion to permanent financing according to defined milestones.
  • With the support of our Compliance team, track compliance requirements and deadlines, including all property specific set-asides and rent restrictions.
  • With the support of our Accounting team, drive the Cost Certification and 8609 process.
  • Conduct due diligence for new LIHTC acquisitions and redevelopment opportunities and ensure a smooth and successful transition into the owned portfolio.
  • Research and interpret partnership agreements, financing documents, regulatory agreements, and tax returns to ensure a thorough understanding of the operating guidelines and negotiate complex issues tactfully.
  • Forge strong relationships with operating partners to proactively work through challenges and communicate concerns up internal and external chains of command when expectations are not being met.
  • In collaboration with property management partners, create annual operating and capital budgets.
  • Coordinate communications and manage requests from investors, lenders, governmental agencies, and other stakeholders.
  • As a leader, you will work closely with other Team leaders to effectively manage individual workloads, as well as mentor and develop junior staff.

What You Should Have

  • Bachelors degree, preferably in Business, Finance, Real Estate, or related fields.
  • 7+ years experience in affordable housing asset management; financial analysis and property management experience a plus. Both LIHTC and Section 8 experience a plus.
  • Demonstrated Project Management skills with proven results.
  • Advanced organizational skills with a high degree of accuracy and attention to detail, plus the ability to reprioritize to meet multiple deadlines in an often time-sensitive environment.
  • Excellent interpersonal and collaborative skills with the ability to serve diverse populations and work appropriately with confidential information.
  • Proven ability to effectively manage and control significant operating and capital budgets, as well as train and delegate responsibility and accountability to others.
  • A sense of urgency, an internal clock that helps you move with purpose.
  • Proficiency in Microsoft Office
  • The ability to travel as needed.

What You Should Be

  • Someone who gets things done, no matter the odds. Creative and thinks outside the box.
  • Curious by nature, a nuanced thinker; you have a drive to understand the why.
  • Highly accountable; you take ownership, follow-through, meet deadlines, and care about the quality of your work product.
  • Courageous; willing to put yourself out there, bet on yourself, take calculated risks and asks questions. Pushes the envelope to innovate.
  • A world-class communicator, or rapidly becoming one.
  • A person who values hard work; you ideally learned at an early age how to put your nose down and get things done when it matters.
  • A independent self-starter; you dont wait around too long looking for directions from others.
  • Able to work collaboratively in a small team environment; willingness to roll up your sleeves and pitch in when and where necessary.
  • Ready to work in a fast-paced environment and be part of an amazing team doing valuable work.

Who You Can Expect To Work With

Robert Koerner

Nathan Munz

Steven Kahn

Standard Communities is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees. All employment is decided on the basis of qualifications, merit, and business need.





PI186054529

Posted: 2022-07-18 Expires: 2022-08-19

Job Opportunities

Before you go...

Our free job seeker tools include alerts for new jobs, saving your favorites, optimized job matching, and more! Just enter your email below.

Share this job:

Director/Senior Director, Asset Management

Standard Property Company Inc
Washington, DC 20036

Join us to start saving your Favorite Jobs!

Sign In Create Account
Powered ByCareerCast