The Director of Asset Management is responsible for high level portfolio and property level analysis and strategy related to real estate assets in which Opportunity Home SA has an ownership interest: Public Housing (PH), Low Income Housing Tax Credit (LIHTC) partnerships, Public Facility Corporation (PFC),and Beacon Communities. This includes evaluating financing options, funding sources for major capital projects, acquisitions, corrective action for repositioning of underperforming assets, and disposing of non-strategic assets in accordance with Opportunity Home SA’s Affordable Housing Preservation & Expansion Policy.
Examples of Duties
Essential Duties and Responsibilities:
Administration and reporting for HUD Capital Fund Program (CFP) grant funds. Ensure that obligation and expenditure deadlines are met
Collaborate with the Director of Public Housing and Director of Construction Services to formulate
the PH 5 year capital plan. Provide quarterly capital plan updates to the Board of Commissioners (BOC). Submit required reports to HUD for the agency’s 5 year capital plan, and annual statement for Capital Fund Program (CFP) and energy conservation measures in HUD’s Energy Performance Information Center (EPIC) system
Assign and maintain HUD’s Administrative Management Division (AMD) log for contracts on PH capital projects and obtain required environmental clearances per National Environmental Policy Act (NEPA)
Prepare and submit disposition applications to HUD’s Special Application Center (SAC)
Serve as project manager for initiatives/special projects that involve coordination of multiple Opportunity Home SA departments and third party vendors, ex. Physical Needs Assessment (PNA), Energy Performance Contracts (EPC), Sale of scattered sites portfolio, Voluntary Clean-up applications with Texas Commission on Environmental Quality (TCEQ.)
Incorporate Physical Needs Assessment (PNA) and financial performance of assets into a ranking system to determine effective deployment of capital resources
Prepare applicable submissions for inclusion in the annual Moving To Work (MTW) report, including new initiatives
Incorporate PNA and financial performance of assets into a ranking system to determine effective deployment of capital resources
Collaborate with Director of Beacon Communities to develop 5 year capital plan and applicable funding sources
Evaluate and direct refinancing opportunities, including negotiating terms and structure with third party lenders. Handle all aspects of transaction through closing and funding
General partner or managing member representative for Public Facility Corporation (PFC) and Low Income Housing Tax credit (LIHTC) mixed finance/partnership transactions
Approve annual budget and major capital expenditures, including replacement reserve and other reserve funding requests
Coordinate, review and evaluate post closing partnership related transactions
Analyze asset and market to develop financial evaluation for year 15 options per the partnership agreement, and make recommendations to Executive Leadership.
Lead negotiations on sale of partnership assets, and resyndication of tax credits with new ownership, including Purchase and Sale Agreement (PSA) and related documents. On resyndication negotiate Memorandum of Understanding (MOU), Limited Partnership Agreement (LPA), bond issuance and related documents
Monitor financial performance and physical condition of assets and implement corrective action as necessary
Preparing and submitting monthly and quarterly MTW reporting
Other Duties and Responsibilities
Manage evaluation and disposition of non strategic real estate assets and manage third parties (brokers, attorneys, appraisers, environmental engineers)
Member of the Opportunity Home SA Real Estate Committee, evaluate new real estate acquisitions/development proposals and make recommendations for deal structure based on review of deal terms and pro forma operating statements
Evaluate proposals that utilize Moving to Work (MTW) funds for acquisition or preservation of Local Non Traditional housing programs
Annual reporting and compliance monitoring of Capital Fund Finance Program (CFFP) loan
Develop and implement strategies for repositioning of underperforming assets
Evaluating and processing licensing, lease and easement requests in collaboration with Opportunity Home Legal department.
Special projects as assigned
This position requires the incumbent to exhibit the following behavioral skills:
Leadership: Provides direction to people and/or projects by clearly and effectively setting course of action for the department, staff, and tasks; manages the planning, execution, and achievement of department goals by providing regular communication to staff and stakeholders.
Commitment: Sets high standards of performance; pursues aggressive goals and works hard/smart to achieve them; strives for results and success; conveys a sense of urgency and brings issues to closure; and persists despite obstacles and opposition
Customer Service: Meets/exceeds the expectations and requirements of internal and external customers; identifies, understands monitors and measures the needs of both internal and external customers; talks and acts with customers in mind; and recognizes working colleagues as customers
Effective Communication: Ensures important information is passed to those who need to know; conveys necessary information clearly and effectively orally or in writing; demonstrates attention to, and conveys understanding of, the comments and questions of others; and listens effectively. Demonstrates the ability to develop audiovisual presentations to both internal and external audiences.
Responsiveness and Accountability: Demonstrates a high level of conscientiousness; holds oneself personally responsible for one's own work; and does fair share of work. Complies with procedures and understands the importance of maintaining and managing confidential and proprietary information.
Teamwork: Balances team and individual responsibilities; exhibits objectivity and openness to others' views; gives and welcomes feedback; contributes to building a positive team spirit; puts success of team above own interests; supports everyone's efforts to succeed; attends, supports, and participates in all team building exercises and events
Continuous Improvement and Innovation: Seeks the continuous improvement of technological business processes and services; explores out-of-the-box methods and is open to experimenting with new ideas; uses data, knowledge, and strategic decision-making to generate new and innovative solutions
Education and Experience:
Bachelor’s Degree in Business Administration, Finance, Real Estate, Urban Planning or a related field.
A minimum of seven (7) years of relevant experience in multifamily portfolio and property level management, experiences in public housing, and Low Income Housing Tax Credit assets is preferred.
Demonstrated experience working with property managers and owners alike with proven results.
Proven track record in evaluating, designing, and successful implementation of corrective action to improve the physical condition and financial performance of underperforming multifamily assets
Must have the ability to learn and use cloud applications such as the Google GSuite applications to include but not limited to: Google Chrome Browser, Gmail, Drive, Calendar, Docs, Sheets and Slides. Understanding document sharing and collaboration in the cloud. Experience and proficiency with Microsoft Office 365, cloud accessible applications to include but not limited to: One drive, Outlook, Word, Excel and Powerpoint or MAC or PC desktop equivalent is acceptable.
Successful completion of a criminal history background check, education, and work history verification, and drug screening test.
Ten (10)+ years of related experience
Ability to learn cloud technologies such as LucidChart for diagram , workflow and chart drawing. Experience with Vizio or equivalent is acceptable. Basic understanding of Virtual Private Network (VPN) access to connect to internal business systems.
License and Certifications:
Texas Class “C” driver’s license at the time of placement and insurable by Opportunity Home SA’s fleet and liability insurance carrier.
Must have the ability to earn certifications as required by assigned tasks.
To perform this job successfully, the employee should have:
Knowledge of requirements for the management of Federal Grants, Capital Fund Program (CFP) Grants.
Working knowledge of the financing, operations and legal structure of LIHTC developments.
Knowledge of real estate finance structures including development, construction permanent loans, bond financing and applicable legal documents.
Public speaking experience and strong presentation skills.
Superior real estate analytical skills (net present values, capitalization rates, valuation techniques, sources/uses and evaluation of pro forma projections
Ability to travel.
Ability to work with complex information, policies and procedures.
Must have the ability to think and work from both the macro and micro levels.
Strong communication skills, both written and verbal.
Keen attention to detail.
Ability to multi-task and shift direction easily.
Self-starting personality that can work well with limited direction.
Personal style that is easily adaptive to different cultures and styles of transacting business.
Excellent oral and written skills.
Strong proficiency with MS Office, Google Docs.
Ability to work on collaborative projects with tight timelines.
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
To perform this job successfully, the employee is frequently required to remain in a stationary position. Daily movements include sitting; standing; operating computers and other office equipment; moving about the office; and attending onsite and offsite meetings. The employee must be able to communicate via email and verbally via telephone. The employee must occasionally transport up to 25 pounds.
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
The noise level in the work environment is usually moderate
High level of interaction with external/internal clients
May be required to work at different properties or sites for interim periods to support business needs
Subject to environmental elements when conducting visits to various sites or participating in outside events.
In compliance with the Americans with Disabilities Act, the Opportunity Home SA will make reasonable accommodation to the known disability of a qualified applicant or employee to enable people with disabilities to enjoy equal employment opportunities, if it would not impose an “undue hardship” on the operation of the employer’s business.
As a public agency, Opportunity Home SA is committed to maintaining the highest of ethical standards. Applicants selected for employment are expected to perform work responsibilities with the highest degree of integrity, professionalism and honesty, to merit the respect of our co-workers, clients, partners, vendors and the general public. Applicants selected for employment are also expected to serve the public with dedication, concern, courtesy and responsiveness.
The above information on this description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities and qualifications required of employees assigned to this job.
This position specification is not an employment agreement or contract. Management has the exclusive right to alter this position specification at any time, without notice.