LDG Development LLC
Regional Asset Manager
REPORTS TO : Director of Asset Management
STATUS : Exempt
LDG Development and our affiliated companies are proliferating to produce higher levels of much-needed affordable housing nationwide. Our founding belief that
"Everyone Deserves a Quality Place to Live"
has resulted in an organization that has now achieved the #1 Ranking as an Affordable Housing Developer. We believe that a stable, supportive living environment is the foundation for individuals to thrive and achieve their dreams in education, career paths, and beyond. The overall reputation and quality that LDG presents in all its business practices are key to maintaining our goals.
POSITION SUMMARY
LDG Development, a leader in multifamily development, offers an excellent opportunity for a highly motivated individual to join its team. We are seeking a Regional Asset Manager to assist in coordinating real estate transactions from inception to closing. In this role, you will help produce detailed and dynamic models for real estate transactions and oversee projects related to the sale, refinance, and disposition of properties and partnership interests. Pay and benefits are competitive and commensurate with experience.
The Analyst is responsible for fulfilling comprehensive tasks and meeting requirements associated with multifamily development in all markets where the company operates.
ESSENTIAL JOB DUTIES AND RESPONSIBILITIES
Evaluate overall property performance to develop and implement a strategic business plan. Monitor and evaluate financial operating results to enhance cash flow and profitability by completing monthly financial reviews and reviewing weekly property operating KPIs. Oversee cash management for properties. Review monthly cash forecasts and prepare funding requests if applicable. Management of cash needs through the utilization of replacement and operating reserves and the timing of major expenditures. Perform a detailed review of the property's annual operating budget and approve the final budget. Project the annual cash flow for distribution and schedule cash sweeps from the properties. Work collaboratively with property management to identify challenges and execute timely and practical solutions. This would include managing budgets, staffing, CapEx, and other property programs. Conduct regular site visits as needed to include, but not limited to, review of: curb appeal, the status of CapEx projects, common area and vacant unit inspections, and personnel issues. Assess project and partnership risk factors as they pertain to compliance with Section 42 (LIHTC) provisions, terms of the partnership agreement, loan documents, LURAs, QAPs, and tax credit applications. Upon new deal handoff, review all closing documents (partnership agreement, loan documents, regulatory agreements, property management agreement, etc.), construction plans, and deal summary to understand investment underwriting, General Partner rights and responsibilities, reporting requirements, and investment benchmarks. For new deals, monitor construction progress and the building delivery turnover schedule. Review estimated construction completion dates to underwriting and project lease-up completion dates. Provide lease-up goals to the property management company. In coordination with the management company, develop staffing schedule, rent schedule, marketing plan, and lease-up budget. Develop a strategy to achieve lease-up goals and investment benchmarks. Participate in construction building walks. Monitor first-year tenant file audit and address any issues. Provide feedback to Development on underwriting for proposed developments. Collaborate with Property Management, Resident Services, and other stakeholders to develop an annual resident experience calendar and assist with implementation and oversight as needed. Tailor and adjust services based on the ongoing needs and desires of residents within each community. PREFERRED QUALIFICATIONS:
3-5 years of relevant experience in multi-family asset management or 5 years of relevant experience at the regional property management level. Working knowledge of Section 42 (LIHTC) principles and requirements Bachelor's Degree with a concentration in Real Estate, Finance, or Business preferred Strong analytical and quantitative skills with an emphasis on financial analysis Understanding of real estate accounting principles and financial reporting procedures with the ability to analyze variances. Proficiency with the Microsoft Office suite. A strong understanding of Excel is a must. Able to work proactively, independently, and as a strategic partner in a team environment Strong ability to communicate effectively, both in oral and written form. Must be articulate with the ability to be persuasive and organized in thought and composition when speaking with others and when formulating emails, memos, and letters Ability to exchange ideas, information, and opinions with others to formulate policies and programs and/or arrive jointly at decisions, conclusions, or solutions Ability to handle pressure, meet deadlines, and set priorities for workload Must be able to identify and resolve problems promptly, and gather and analyze information skillfully Ability to demonstrate accuracy and thoroughness, and monitor your own work to ensure quality BENEFITS
Medical, Dental, and Vision Insurance Health Savings Account (HSA) and Flexible Spending Account (FSA) Paid Time Off (PTO) Paid Holidays Dental 401k Retirement Plan Employee Assistance Program (EAP) Competitive bonus structure Ancillary Benefits: Pet Insurance, Gym Membership Reimbursement, Parental Leave etc.
WORK ENVIRONMENT
Corporate office environment with travel up to 33% of the time.
REPORTS TO : Director of Asset Management
STATUS : Exempt
LDG Development and our affiliated companies are proliferating to produce higher levels of much-needed affordable housing nationwide. Our founding belief that
"Everyone Deserves a Quality Place to Live"
has resulted in an organization that has now achieved the #1 Ranking as an Affordable Housing Developer. We believe that a stable, supportive living environment is the foundation for individuals to thrive and achieve their dreams in education, career paths, and beyond. The overall reputation and quality that LDG presents in all its business practices are key to maintaining our goals.
POSITION SUMMARY
LDG Development, a leader in multifamily development, offers an excellent opportunity for a highly motivated individual to join its team. We are seeking a Regional Asset Manager to assist in coordinating real estate transactions from inception to closing. In this role, you will help produce detailed and dynamic models for real estate transactions and oversee projects related to the sale, refinance, and disposition of properties and partnership interests. Pay and benefits are competitive and commensurate with experience.
The Analyst is responsible for fulfilling comprehensive tasks and meeting requirements associated with multifamily development in all markets where the company operates.
ESSENTIAL JOB DUTIES AND RESPONSIBILITIES
Evaluate overall property performance to develop and implement a strategic business plan. Monitor and evaluate financial operating results to enhance cash flow and profitability by completing monthly financial reviews and reviewing weekly property operating KPIs. Oversee cash management for properties. Review monthly cash forecasts and prepare funding requests if applicable. Management of cash needs through the utilization of replacement and operating reserves and the timing of major expenditures. Perform a detailed review of the property's annual operating budget and approve the final budget. Project the annual cash flow for distribution and schedule cash sweeps from the properties. Work collaboratively with property management to identify challenges and execute timely and practical solutions. This would include managing budgets, staffing, CapEx, and other property programs. Conduct regular site visits as needed to include, but not limited to, review of: curb appeal, the status of CapEx projects, common area and vacant unit inspections, and personnel issues. Assess project and partnership risk factors as they pertain to compliance with Section 42 (LIHTC) provisions, terms of the partnership agreement, loan documents, LURAs, QAPs, and tax credit applications. Upon new deal handoff, review all closing documents (partnership agreement, loan documents, regulatory agreements, property management agreement, etc.), construction plans, and deal summary to understand investment underwriting, General Partner rights and responsibilities, reporting requirements, and investment benchmarks. For new deals, monitor construction progress and the building delivery turnover schedule. Review estimated construction completion dates to underwriting and project lease-up completion dates. Provide lease-up goals to the property management company. In coordination with the management company, develop staffing schedule, rent schedule, marketing plan, and lease-up budget. Develop a strategy to achieve lease-up goals and investment benchmarks. Participate in construction building walks. Monitor first-year tenant file audit and address any issues. Provide feedback to Development on underwriting for proposed developments. Collaborate with Property Management, Resident Services, and other stakeholders to develop an annual resident experience calendar and assist with implementation and oversight as needed. Tailor and adjust services based on the ongoing needs and desires of residents within each community. PREFERRED QUALIFICATIONS:
3-5 years of relevant experience in multi-family asset management or 5 years of relevant experience at the regional property management level. Working knowledge of Section 42 (LIHTC) principles and requirements Bachelor's Degree with a concentration in Real Estate, Finance, or Business preferred Strong analytical and quantitative skills with an emphasis on financial analysis Understanding of real estate accounting principles and financial reporting procedures with the ability to analyze variances. Proficiency with the Microsoft Office suite. A strong understanding of Excel is a must. Able to work proactively, independently, and as a strategic partner in a team environment Strong ability to communicate effectively, both in oral and written form. Must be articulate with the ability to be persuasive and organized in thought and composition when speaking with others and when formulating emails, memos, and letters Ability to exchange ideas, information, and opinions with others to formulate policies and programs and/or arrive jointly at decisions, conclusions, or solutions Ability to handle pressure, meet deadlines, and set priorities for workload Must be able to identify and resolve problems promptly, and gather and analyze information skillfully Ability to demonstrate accuracy and thoroughness, and monitor your own work to ensure quality BENEFITS
Medical, Dental, and Vision Insurance Health Savings Account (HSA) and Flexible Spending Account (FSA) Paid Time Off (PTO) Paid Holidays Dental 401k Retirement Plan Employee Assistance Program (EAP) Competitive bonus structure Ancillary Benefits: Pet Insurance, Gym Membership Reimbursement, Parental Leave etc.
WORK ENVIRONMENT
Corporate office environment with travel up to 33% of the time.