PPL Project for Pride in Living
Senior Director of Asset Management
PPL Project for Pride in Living, Minneapolis, Minnesota, United States, 55400
About PPL
Project for Pride in Living (PPL) is a nonprofit organization dedicated to empowering low-income individuals and families to become self-reliant through integrated services in housing, employment, and education. We believe in the power of community and the potential of every person. When joining PPL, you become a part of a diverse team whose goal is to assist our residents and communities with the groundwork they need not only to survive but also to thrive. Job Summary
Project for Pride in Living (PPL) is seeking a strategic and mission-driven Senior Director of Asset Management to lead the stewardship of its real estate portfolio; residential and commercial. This role is responsible for maintaining the value of the real estate as assets to PPL and to the communities. The Senior Director will oversee long-term asset planning, compliance, investment and portfolio analysis, ownership responsibilities ensuring alignment with PPL’s mission to build stronger communities through housing, employment, and education. Key Responsibilities
Monitoring performance of portfolio of low-income housing units plus commercial space, especially monitoring financial performance, physical condition and capital expenditures, advising of opportunities for improvement of troubled properties and recommending corrective action Establishing an Asset Management Plan for each owned property, clarifying management priorities consistent with PPL mission Reviewing insurance and property tax status of each property and taking measures to assure proper insurance coverage and tax classification and valuations Reporting to limited partners and funders as required, ensuring connection to the PPL Executive Team Working closely with PPL’s compliance team, monitoring compliance with all funding and other requirements for all owned properties Reviewing, recommending and implementing new financing or ownership structures for existing portfolio, as appropriate Maintaining all property records in a well organized, easy to retrieve system, for legally required time periods Supervisory Responsibilities
Serve as supervisor to Associate Director of Asset Management and Real Estate Project Analyst. Qualifications
Demonstrated problem solving skills in analyzing and recommending alternatives and solutions to funding issues, legal structure and operating issues related to an affordable housing portfolio Strong financial analysis skills essential to the review of the financial performance, capital needs and operating reserves of individual properties and a broader portfolio Assist with the preparation of budgets, capital expenditures, and tax information Proficient in Microsoft Office products especially Excel. Experience with Yardi a plus Must have valid Minnesota drivers’ license and able to drive to inspect sites Experience
7-10 years experience in asset management, real estate investment management, commercial real estate finance, property management, real estate accounting or other closely related field Demonstrated proficiency in the ability to read and interpret documents related to the Asset Management position Familiarity with low-income housing funding mechanisms essential to development and operation of affordable housing properties Understanding of the various legal entity structures and their reporting requirements (e.g. LLC, LP, LLP) Knowledge of real estate financing and accounting Education
BA/BS degree in Real Estate Management, Business, Finance or Accounting, or other related field. (additional education may substitute for experience) Benefits
Health & Dental Insurance Employer-Paid Short & Long-Term Disability & Life Insurance Paid Parental Leave HSA or FSA Options PTO & Paid Holidays 403(b) Retirement Plan with Employer Match Summer Half-Day Fridays (Memorial Day-Labor Day) Meaningful work that impacts lives Hours
Full time, Exempt Salary
$125,000-$150,000 / annually DOQ
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Project for Pride in Living (PPL) is a nonprofit organization dedicated to empowering low-income individuals and families to become self-reliant through integrated services in housing, employment, and education. We believe in the power of community and the potential of every person. When joining PPL, you become a part of a diverse team whose goal is to assist our residents and communities with the groundwork they need not only to survive but also to thrive. Job Summary
Project for Pride in Living (PPL) is seeking a strategic and mission-driven Senior Director of Asset Management to lead the stewardship of its real estate portfolio; residential and commercial. This role is responsible for maintaining the value of the real estate as assets to PPL and to the communities. The Senior Director will oversee long-term asset planning, compliance, investment and portfolio analysis, ownership responsibilities ensuring alignment with PPL’s mission to build stronger communities through housing, employment, and education. Key Responsibilities
Monitoring performance of portfolio of low-income housing units plus commercial space, especially monitoring financial performance, physical condition and capital expenditures, advising of opportunities for improvement of troubled properties and recommending corrective action Establishing an Asset Management Plan for each owned property, clarifying management priorities consistent with PPL mission Reviewing insurance and property tax status of each property and taking measures to assure proper insurance coverage and tax classification and valuations Reporting to limited partners and funders as required, ensuring connection to the PPL Executive Team Working closely with PPL’s compliance team, monitoring compliance with all funding and other requirements for all owned properties Reviewing, recommending and implementing new financing or ownership structures for existing portfolio, as appropriate Maintaining all property records in a well organized, easy to retrieve system, for legally required time periods Supervisory Responsibilities
Serve as supervisor to Associate Director of Asset Management and Real Estate Project Analyst. Qualifications
Demonstrated problem solving skills in analyzing and recommending alternatives and solutions to funding issues, legal structure and operating issues related to an affordable housing portfolio Strong financial analysis skills essential to the review of the financial performance, capital needs and operating reserves of individual properties and a broader portfolio Assist with the preparation of budgets, capital expenditures, and tax information Proficient in Microsoft Office products especially Excel. Experience with Yardi a plus Must have valid Minnesota drivers’ license and able to drive to inspect sites Experience
7-10 years experience in asset management, real estate investment management, commercial real estate finance, property management, real estate accounting or other closely related field Demonstrated proficiency in the ability to read and interpret documents related to the Asset Management position Familiarity with low-income housing funding mechanisms essential to development and operation of affordable housing properties Understanding of the various legal entity structures and their reporting requirements (e.g. LLC, LP, LLP) Knowledge of real estate financing and accounting Education
BA/BS degree in Real Estate Management, Business, Finance or Accounting, or other related field. (additional education may substitute for experience) Benefits
Health & Dental Insurance Employer-Paid Short & Long-Term Disability & Life Insurance Paid Parental Leave HSA or FSA Options PTO & Paid Holidays 403(b) Retirement Plan with Employer Match Summer Half-Day Fridays (Memorial Day-Labor Day) Meaningful work that impacts lives Hours
Full time, Exempt Salary
$125,000-$150,000 / annually DOQ
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