Asset Management Associate, Affordable Housing
L+M Development Partners LLC, New York, NY, United States
Opportunity
Sena is seeking an Asset Management Associate to join an experienced team responsible for growing the LIHTC acquisition and redevelopment business across select markets nationwide. Sena acquires, rehabilitates, and operates existing affordable housing assets financed with Low-Income Housing Tax Credits and Tax-Exempt bonds.
Key areas of focus will include:
Review and analysis of monthly operating reports
Develop and formalize asset management strategy and processes to maintain and improve assets
Provide proactive, hands‑on asset management
Areas of Responsibilities & Job Requirements
Participate in the handoff process specifically in collecting and providing due diligence as properties move from development to operations/asset management.
Analyze asset performance and benefit delivery against both annual operating budget and underwriting pro forma, maximize property levelcash flows.
Analyze rent roll, lease expiration schedule, vacancy rates, unit availability and marketing/leasing efforts to maximize occupancy and collection rates.
Liaise with operating partners to ensure optimal property financial performance.
Develop annual asset management plans and propose long‑term strategies for refinancing, buying out partners, resyndicating or disposing of existing properties.
Evaluate, assign and monitor property performance and identify watch list properties for the assigned portfolio in accordance with L+M asset management guidelines. Work with team to prioritize issues and develop action plans to address challenges.
Knowledge, Skills, and Abilities
Understanding of affordable housing programs
Working knowledge of real estate asset management with significant exposure to multifamily underwriting, development and property management preferred.
Financial modeling and quantitative skills
Comfortable navigating and analyzing transaction legal documents, financial projections and financial reports.
Must be able to travel to sites to perform periodic site visits
Self‑motivated and proactive with an established track record of getting things done effectively and independently
A team player, able to work in an entrepreneurial environment, balance changing priorities and meet deadlines
Strong interpersonal skills for establishing and maintaining effective professional working relationships with internal and external constituents while handling challenging situations.
Educational Requirements
Bachelor’s degree required, Advanced degree in business, Real Estate or Urban Planning preferred.
Years of Industry Experience Required
3-5 years in real estate or a related field, direct affordable asset management experience preferred.
#J-18808-Ljbffr
Key areas of focus will include:
Review and analysis of monthly operating reports
Develop and formalize asset management strategy and processes to maintain and improve assets
Provide proactive, hands‑on asset management
Areas of Responsibilities & Job Requirements
Participate in the handoff process specifically in collecting and providing due diligence as properties move from development to operations/asset management.
Analyze asset performance and benefit delivery against both annual operating budget and underwriting pro forma, maximize property levelcash flows.
Analyze rent roll, lease expiration schedule, vacancy rates, unit availability and marketing/leasing efforts to maximize occupancy and collection rates.
Liaise with operating partners to ensure optimal property financial performance.
Develop annual asset management plans and propose long‑term strategies for refinancing, buying out partners, resyndicating or disposing of existing properties.
Evaluate, assign and monitor property performance and identify watch list properties for the assigned portfolio in accordance with L+M asset management guidelines. Work with team to prioritize issues and develop action plans to address challenges.
Knowledge, Skills, and Abilities
Understanding of affordable housing programs
Working knowledge of real estate asset management with significant exposure to multifamily underwriting, development and property management preferred.
Financial modeling and quantitative skills
Comfortable navigating and analyzing transaction legal documents, financial projections and financial reports.
Must be able to travel to sites to perform periodic site visits
Self‑motivated and proactive with an established track record of getting things done effectively and independently
A team player, able to work in an entrepreneurial environment, balance changing priorities and meet deadlines
Strong interpersonal skills for establishing and maintaining effective professional working relationships with internal and external constituents while handling challenging situations.
Educational Requirements
Bachelor’s degree required, Advanced degree in business, Real Estate or Urban Planning preferred.
Years of Industry Experience Required
3-5 years in real estate or a related field, direct affordable asset management experience preferred.
#J-18808-Ljbffr