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Senior Asset Manager, Real Estate

Posted by
Community Solutions
|
New York, NY

Community Solutions


New
|
Published 10 days ago

$78,000 - $85,000

Overview

Community Solutions is a nonprofit innovation partner to communities around the world. We leverage engaging, innovative problem-solving tools like design thinking and quality improvement to help communities end homelessness and the conditions that create it. In partnership with our national Built for Zero initiative, the CS real estate team is working to deliver new affordable housing units in communities where a housing supply gap is contributing to the challenge of homelessness.  These units are developed and financed using a pioneering approach that results in greater flexibility and cost efficiency than traditional Low Income Housing Tax Credit development.  Additionally, projects are run and managed in a way that improves housing stability for residents and has a direct impact on reducing homelessness.  

The four pillars of the model are:

  1. Long-term, non-profit ownership: either Community Solutions or Community Solutions and a local partner
  2. Social impact financing:  working with sources of capital that seek both financial and measurable programmatic returns
  3. Connection to the housing system: tenanting standards and tenanting processes are designed with stakeholders from the local housing system to ensure that units are available to meet the needs of the housing system
  4. Property management plus: integrating an enhanced form of property management that seeks to support tenants and ensure their long-term housing stability

Property Management Plus. The concept behind Property Management Plus is to approach property management through the goal of prioritizing successful outcomes for tenants.  By designing around what is best for the end-user, we come to a different set of protocols for tenanting, eviction and house rules and regulations than is typical for a non-PSH property.  This approach also leads to a different relationship and set of interactions between the property manager and the tenants, one that can approach “case-management light.”  We are still learning our way into the details of this model and are looking to develop a much more robust set of standards and training as we continue to scale our work.  

We are seeking an experienced, self motivated and creative problem solver to join our collaborative real estate team to help manage the physical, financial and social health of our growing portfolio of properties across the country. Our current portfolio is about $100M of assets including 500 units of housing in Washington DC, Colorado, New Mexico and Georgia. Over the course of the year, we plan to accelerate the growth of our development pipeline with the addition of several hundred more housing units. Non-residential projects in our portfolio also include a 10,000 sf commercial office building in Brownsville, Brooklyn and a 70,000 sf commercial manufacturing/office/retail site in Hartford, CT.

The position reports to the Deputy Director of Real Estate. We value committed individuals who roll up their sleeves to do what’s necessary and the position requires a flexible, cooperative and get-it-done-on-time approach from administrative functions to strategic thinking. The position requires travel to project sites on an as-needed basis, however no current travel due to Covid. 

Defining Success for this Position

The candidate will successfully support three major areas of work:

  1. Management of existing real estate assets, including minor construction, financial reporting and oversight of property management team
  2. Further development, standardization and expansion of our innovative property management model (“Property Management Plus”) that combines traditional residential management with support services for residents
  3. Project management related to property acquisition and rehabilitation, including our community-based land trust work 

Essential Duties and Responsibilities

Asset Management. Working with property managers, project partners and other senior leaders to: 

  1. Oversee the development of annual operating and capital budgets and monitor performance against budget on a monthly basis (more frequently as needed)
  2. Produce investor reports on a quarterly basis, including both financial and programmatic performance
  3. Oversee onsite property managers and work to resolve issues that fall outside of their capacity
  4. Monitor the ongoing interaction between the property manager, case managers and other service providers to ensure the best possible outcomes for tenants
  5. Review internal bookkeeping and oversee external accounting and audit functions 
  6. Create and implement a standard framework for measuring the impact of individual projects
  7. Oversee capital improvement and other construction

Property Management Oversight:

  1. Create a formal set of standards for all properties around the country that incorporates the tenets of our enhanced property management model that connects tenants to services, when necessary 
  2. Develop a training protocol for property managers
  3. Oversee the professional development and performance of property managers
  4. Work with third-party managers to integrate training, measurement and operating protocols as prescribed by the Property Management Plus (PMP) approach
  5. Work with the property manager to identify resources and services in the local community that can be made available to tenants

Acquisition/Development Support:

  1. Support due diligence, project underwriting and light construction as needed
  2. Manage the financial closing process and integration of the project into our asset management framework
  3. Oversee all aspects of our community based work, which involves working with community organizations to identify blighted properties and use a court process to return them to productive use

Qualifications

  • Understanding of property operating budgets and proformas
  • Strong project management skills
  • Understanding of basic property-level accounting
  • Bachelor’s degree or equivalent experience
  • Passion for social impact development
  • Track record as a problem-solver using data to drive insights and decision making 
  • Strategic thinking and decision-making skills, strong analytical capabilities, and a stakeholder-oriented mindset
  • Demonstrated curiosity and ability/willingness to learn new skills
  • At least five years of relevant experience 
  • Strong communication skills
  • Construction management experience is a plus
  • Experience in property/asset management, including in affordable and/or permanent supportive housing projects is a plus
  • Demonstrated understanding of structural racism and its impact on communities of color
  • Non-traditional candidates are welcome. Community Solutions strives for representation and authentic inclusion of applicants and employees who have direct, first-hand experience with poverty, homelessness, and their root causes (including marginalization, discrimination, and inequity).

Additional Attributes

  • Respectful and empathetic conflict resolution
  • High level of attention to detail, ability to multitask and meet deadlines
  • Ability to exercise excellent independent judgment and ownership of decisions
  • Receives and relays criticism constructively
  • Excellent communication skills (both interpersonal and written)
  • Ability to work independently and self-manage to achieve goals while being a strong team player
  • Ability to organize, meet deadlines and delegate appropriately
  • Ability to cope with and embrace change, risk, and uncertainty
  • Willingness to embrace and actively support the unique culture and values of Community Solutions

Supervisory Responsibilities

The Senior Asset Manager will oversee the individual Property Managers in our national housing portfolio. 

Software/Apps Used

  • Google Suite
  • Microsoft Office
  • Asana
  • Slack
  • Zoom

Salary Range 

CS offers competitive salaries and benefits packages for every position. The salary range for this position is $78,000 to $85,000 and will be based upon experience.

Travel Requirements

The position requires travel to project sites on an as needed basis. Currently no travel due to Covid. 

Work Environment

This position is national in its scope and can be based anywhere.

Overview

Community Solutions is a nonprofit innovation partner to communities around the world. We leverage engaging, innovative problem-solving tools like design thinking and quality improvement to help communities end…

Details at a glance

  • Remote Possible
  • Full Time Schedule

Location

New York, NY

How to Apply

Please apply here.

Please apply here.

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