Job Information
BRIDGE Housing Corporation Senior Asset Manager in San Francisco, California
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.