Senior Asset Manager

San Francisco, CA, United States

Job Description Job Description Summary

The Senior Asset Manager (SAM) is responsible for a portfolio of approximately 30-35 properties and serves as the primary contact for the portfolio’s investors and lenders. The portfolio includes a mix of property and financing types, including a number of public housing properties. The SAM acts as the representative of the owner of each property and as such, they are directly responsible for ensuring that the long-term financial health of properties in the portfolio meets BRIDGE, owner and lender requirements.

The SAM works closely with several cross-functional teams focused on the financial health of the portfolio, including Property Management and individual property site staff, Accounting, Legal, Insurance, and Development. The SAM has extensive external contact with BRIDGE’s consultants (legal, financial, etc.), regulatory agencies, lenders and investors.

Responsibilities

General

Take the lead on creating and maintaining comprehensive asset management/strategy plans for each property in assigned portfolio

Take the lead on limited partner buyouts and refinancing of debt.

As assigned, work with Development and Property Management to create accurate pro forma and long-term strategic plans for new properties

Complete portfolio analysis and summary reports to determine concerns impacting the financial and/or physical health of the asset

Ensure properties are meeting financial goals as projected/required under all agreements or regulations

Review all reporting information due to investors/lenders

Research partnership agreements, financing documents, regulatory agreements, tax returns, and other source documents to determine constraints and barriers to long-term needs

Conduct site visits, document property condition and develop corrective action as appropriate

Review all governing documents for new and existing properties

Collaborate with others to resolve issues related to cash-flow and long-term capital needs, including working with investors/lenders to free-up existing reserves or secure loans

Financial Analysis

Evaluate property plans to ensure surplus cash will meet long-term corporate cash flow targets

Manage annual budget process with assigned portfolio; propose solutions to cash-flow issues

Monitor portfolio to ensure that financial performance is in-line with the budget and that variance explanations meet BRIDGE and investor/lender requirements

Monitor and review audits to ensure surplus distributions are made correctly and on a timely basis

Monitor that properties moving into operations are meeting financial performance according to the pro forma

Relationship Management

Establish and maintain good working relationships with lenders and investors as the primary contact for properties in the assigned portfolio

Negotiate with partners and/or lenders as needed to amend agreements

Facilitate approval processes with lenders and/or investors as needed

Develop and sponsor occasional meetings to review portfolios with investors, lenders, and internal groups, including the coordination of on-site property visits in the portfolio

Prepare annual Board reports for single purpose entities and projects with outside partners

Coordinate all responses to questions from investors/lenders on assigned portfolio

Physical Planning

Review long-term capital plans for the properties in assigned portfolio, suggesting adjustments to the Portfolio Rehabilitation Manager if necessary, managing reserve balances to meet long-term cash needs, identifying those properties requiring outside funding, and ensuring that major projects are progressing on plan

Special Projects as assigned

Qualifications

Bachelor’s Degree in Finance, Business Administration, Accounting or related field

Seven or more years of experience in real estate or finance with emphasis on financial analysis of large portfolios

Experience in managing limited partner interest buyouts and refinancings

Experience in at least four of the following areas: non-profit affordable housing, refinancing of debt, HUD regulatory programs, real estate accounting, financial analysis, property management or project development

Demonstrated proficiency with Excel and Word

Ability to multitask and adapt to changing priorities in a fast-paced and collaborative environment

Ability to present comfortably and in a well-organized manner in front of large groups

Ability to prepare financial feasibility analyses and strategic plans, conduct research, and prepare narrative reports and proposals

Strong analytical and accounting skills

Strong written and verbal communication skills

Good business and financial judgment

Ability to work effectively with all levels of staff in many departments, external financial professionals, and public officials

Experience with, or strong interest in, non-profit organizations and BRIDGE’s mission

Ability to provide day-to-day support of assigned portfolio with minimum supervision

BRIDGE Housing is an Equal Opportunity Employer committed to fostering an inclusive environment for our diverse workforce. We do not discriminate on the basis of race, religion, color, national origin, gender identity, sexual orientation, age, marital status, veteran status, or disability. Pursuant to the California Fair Chance Act, we will consider qualified applicants with arrest and conviction records.

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