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The John Stewart Company Asset Manager in San Francisco, California

The John Stewart Company (JSCo) is a statewide provider of diversified housing services including affordable housing development (both new construction and acquisition/rehabilitation), multifamily property management, financial consulting and construction management services. JSCo currently manages over 30,000 housing units through offices in San Francisco (headquarters), Sacramento, Scotts Valley, Los Angeles and San Diego. Since 1978, the Company has developed over 3,800 units of affordable and mixed-income housing and it is currently involved in projects totaling over 2,000 units of additional rental and for sale housing in several locations throughout California.

SUMMARY OF THE POSITION:

The Asset Manager will have responsibility for a portfolio of approximately 20 owned properties. This portfolio includes a mix of property and financing types, but the projects are predominantly subsidized low-income properties and a number of them are former public housing properties. The Asset Manager will act as JSCo’s representative for each property, and as such, will be directly responsible for ensuring that their long-term financial health meets JSCo and its financial and ownership partners’ requirements.

The Asset Manager will work closely with cross-functional teams that include in-house property management, construction services, accounting, and development staff. The Asset Manager will also work externally with lenders, investors, attorneys, insurance brokers, regulatory agencies and more. The Asset Manager will report directly to the Vice President of Development.

  • Creates and maintains comprehensive asset management/strategy plans for each property in assigned portfolio.

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

  • Establishes and maintains good working relationships with lenders and investors as JSCo’s primary contact.

  • Negotiates with partners and/or lenders as needed to amend agreements and/or secure approvals.

  • Develops and sponsors occasional meetings to review portfolios with investors, lenders and internal groups, including the coordination of on-site property visits.

  • Coordinates all responses to questions from investors/lenders on assigned portfolio.

  • Reviews all reporting information due to investors/lenders.

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

  • Conducts site visits, documents property condition and develops corrective action as appropriate.

  • Reviews all governing documents for new and existing properties.

  • Monitors property commercial spaces and work with brokers to market and negotiate leases with prospective tenants, as needed.

  • Works with Development and Property Management to create accurate proformas and long-term strategic plans for new properties.

  • Evaluates property plans to ensure surplus cash will meet long-term corporate cash flow targets.

  • Works in collaboration 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.

  • Manages the annual budget process and proposes creative solutions to cash-flow issues.

  • Monitors portfolio to ensure that financial performance is in-line with budgets, that variance explanations meet owner and investor/lender requirements, and that operating deficit guarantees are “burned off” as quickly as possible.

  • Monitors and reviews audits to ensure surplus distributions are made correctly and on a timely basis.

  • Monitors that properties moving into operations are meeting financial performance according to the proforma.

  • Reviews long-term capital plans for the properties in assigned portfolio, suggesting adjustments to Construction Services 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.

  • Performs other assignments as requested.

The Asset Manager should have three or more years of experience in real estate or finance with an emphasis on financial analysis of portfolios. Experience in some or all of the areas of affordable housing, HUD regulatory programs, real estate accounting, financial analysis, property management or project development is preferred. Applicant should have experience and/or demonstrated abilities in the following areas:

  • Demonstrated proficiency using Microsoft 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 within JSCo, external financial professionals and public officials.

  • Strong work ethic and personal commitment to the provision of high quality affordable housing.

  • Ability to work independently and achieve results.

Education

A Bachelor’s or Master’s degree in finance, business administration, accounting, or a related field is preferred.

Benefits for Employees who work 30+ hours/week -

  • Medical, dental and vision care; preventative medical care paid at 100%.

  • Vacation leave of up to ten days per year in the first year.

  • Up to 72 hours of sick time per year.

  • Flexible Spending Accounts for Health Care and Dependent Care.

  • Company paid Life AD&D Long Term Disability.

  • Free, confidential counseling through our Employee Assistance Program.

  • Commuter benefit program.

  • Discounts for AT&T, ClassPass, and Weight Watchers.

  • $50 annual Wellness Reimbursement.

  • Matching 401(K) Retirement Savings Plan of up to 2% of your compensation (for any employee who works 20 hours or more per week).

Benefits for Employees who work less than 30 hours/week -

  • Free, confidential counseling through our Employee Assistance Program.

  • Commuter benefit program.

  • Discounts for AT&T, ClassPass, and Weight Watchers.

  • $50 annual Wellness Reimbursement.

  • Matching 401(K) Retirement Savings Plan of up to 2% of your compensation (for any employee who works 20 hours or more per week)

See what our employees are saying about the company here!

The John Stewart Company provides equal employment opportunities to all employees and applicants for employment without regard to race, color, religion, gender, sexual orientation, national origin, age, disability, marital status, veteran status, or any other consideration made unlawful by federal, state, or local laws.

The John Stewart Company will consider for employment qualified applicants with criminal histories in a manner consistent with the requirements of the San Francisco Fair Chance Ordinance and Los Angeles Fair Chance Initiative.

ID: 2019-2428

Type: Regular Full-Time

External Company URL: http://jsco.net/employment-opportunities/

Street: 1388 Sutter Street, 11th Floor

Equal Opportunity Employer: The John Stewart Company provides equal employment opportunities to all employees and applicants for employment without regard to race, color, religion, gender, sexual orientation, national origin, age, disability, marital status, veteran status, or any other consideration made unlawful by federal, state, or local laws.

The John Stewart Company will consider for employment qualified applicants with criminal histories in a manner consistent with the requirements of the San Francisco Fair Chance Ordinance and Los Angeles Fair Chance Initiative.

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