Director of Asset Management
Lotus Company, Salt Lake City, UT, United States
About Lotus Company:
At Lotus Company, we believe every person deserves more than a place to live - they deserve a place to belong. Lotus exists to restore dignity, renew hope, and create sanctuaries where life can truly flourish. As a full-service builder, developer, owner, and operator, Lotus leads with intention at every stage – from design and development to construction, management, and community impact. Every detail reflects a belief that housing is sacred ground: a foundation upon which human potential awakens, and communities come alive. At Lotus, every team member plays a vital role in advancing our mission. Our neighborhood communities blend thoughtful design, sustainable craftsmanship, and authentic connection. Through our Lotus Impact Foundation, we extend our mission beyond housing, offering programs that empower residents to heal, grow, and step into brighter futures. Through Lotus Hospitality, we design gathering places that cultivate belonging, beauty, and shared humanity. With over $1 billion in projects in motion, Lotus is not merely constructing buildings; we are cultivating sanctuaries of hope across the nation. Each community is a living testament that every person is seen, safe, and valued.
Job Description:
The Director of Asset Management is a senior leadership role accountable for the overall asset management strategy, execution, and performance across the Lotus portfolio. This position leads the Asset Management team and partners closely with Development, Property Management, Finance, Compliance, and Investments to maximize asset value, ensure regulatory compliance, and support long-term portfolio health. The Director establishes portfolio-wide standards, policies, and performance benchmarks while maintaining hands-on oversight of business plans, capital strategies, investor relations, and risk management. This role serves as the senior point of accountability for asset performance and reports to executive leadership.
Responsibilities :
Strategic Portfolio Leadership
- Establish and continuously refine the asset management strategy across the full portfolio.
- Set portfolio-wide financial, operational, and compliance objectives aligned with company goals and mission.
- Establish performance benchmarks, reporting standards, and asset-level priorities.
- Identify opportunities to enhance value through leasing strategy, operational improvements, redevelopment, recapitalization, and long-term repositioning.
Asset Strategy and Performance Management
- Ensure all communities execute approved business plans and achieve financial, operational, and strategic objectives.
- Lead implementation of asset-level strategies to maximize value and mitigate risk.
- Monitor portfolio performance through dashboards, financial reporting, and regular asset reviews.
- Evaluate hold versus sell decisions, refinancings, recapitalizations, Year 15 strategies, and dispositions as appropriate.
Financial Oversight and Analysis
- Oversee budgeting, forecasting, and long-range financial planning for the portfolio and asset management function.
- Review and approve major financial decisions including refinancing, capital expenditures, reserve utilization, and changes to asset strategy.
- Provide clear, data-driven analysis and recommendations to executive leadership and the Board.
- Ensure strong financial modeling, scenario analysis, and underwriting collaboration for new and existing assets.
Capital Planning and Physical Asset Oversight
- Lead large-scale capital planning and execution across the portfolio, including prioritization and ROI evaluation.
- Manage and approve multi-year capital plans, physical plant compliance, and reserve usage in coordination with Operations and Facilities.
- Oversee major renovation, repositioning, redevelopment, and energy efficiency initiatives.
- Ensure capital projects are delivered on schedule, within budget, and aligned with long-term asset strategy.
Cross-Functional Collaboration
- Partner with Development and Investments during underwriting, diligence, closing, and post-closing transitions.
- Collaborate closely with Property Management to drive NOI growth, operational efficiency, and alignment with ownership goals.
- Coordinate with Finance on long-term planning and Compliance on regulatory requirements including LIHTC, HUD, loan covenants, and insurance.
- Support leasing strategy and performance in collaboration with internal teams and external brokers, as applicable.
Stakeholder and Investor Relations
- Serve as the senior point of contact for investors, syndicators, lenders, and joint venture partners on asset-level performance.
- Lead owner calls, equity partner updates, and portfolio performance reviews.
- Ensure timely, accurate, and transparent reporting to investors and stakeholders.
- Represent Lotus’s asset management capabilities and track record with external partners.
Risk Management and Compliance
- Maintain ultimate accountability for regulatory and financial compliance across the portfolio.
- Ensure systems and processes are in place to track compliance deadlines and obligations.
- Lead portfolio-level risk assessments and develop mitigation strategies.
- Approve asset-level compliance certifications and documentation as required.
Education & Experience:
- Bachelor’s degree in business, finance, real estate, or related field required.
- Master’s degree and professional certifications such as CHAM or CCIM are a plus.
- 8 – 12+ years of direct experience in multifamily real estate asset management.
- Significant experience with LIHTC and affordable housing portfolios strongly preferred.
- Proven success executing value-add strategies and capital programs.
- Strong financial modeling, analytical, and strategic planning skills.
- Experience leading teams and managing complex portfolios.
- Advanced proficiency in Excel and financial reporting tools.
- Excellent communication and leadership skills.
- Ability to operate both strategically and tactically in a fast-paced environment.
Work Environment & Schedule
This is a full-time, in-office position based on the 13th floor of our downtown Salt Lake City headquarters, with core hours Monday through Friday. Our office at Second + State offers expansive views of the city and surrounding mountains, access to a private balcony, and close proximity to a wide range of restaurants, cafés, and amenities within walking distance. The building also provides an on-site fitness facility and covered, year-round parking. Daily office essentials like coffee, snacks, and beverages are available to support a comfortable and engaging workday.
Benefits
Lotus Company offers a comprehensive benefits package designed to support the health, financial security, and overall well-being of our employees. Benefits include:
- Medical, dental, and vision insurance coverage, with eligibility beginning 30 days after employment
- Health Savings Account (HSA) option
- Access to telehealth and virtual care services
- Mental health and wellness support, including expedited access to therapy and counseling resources
- Basic life insurance, with the option to purchase additional coverage
- Short-term disability insurance
- Paid time off (PTO), accruing at 15 days per year
- Ten (10) paid company holidays annually
- 401(k) retirement plan with employer match
- Performance-based bonus program based on company and individual performance
- Employee recognition and milestone celebrations
- Access to an on-site fitness facility
- Covered, year-round parking in an attached garage
- Daily office amenities, including coffee, snacks, and beverages