Title: Lead Asset Manager Reports To: EVP RE Development Department/Division: Real Estate Development FLSA Status: Exempt
Position Summary The Lead Asset Manager is responsible for managing all processes related to maximizing the value and return on investment of the Horizon Development Properties (the “Company” or “HDP”) portfolio. This includes finding the highest and most consistent sources of revenue, reducing expenditures whenever possible and working with other departments in the agency to manage risk, among other things. The Lead Asset Manager acts as an owner of the investment properties in the HDP portfolio and looks out for HDP’s best interests. They are proficient in repositioning a property and streamlining operations to reduce expenses, increase income and improve property value. They are responsible for the creation and implementation of the general strategy of the asset. This position deals with strategic and important issues related to a property. They understand real estate as an investment. Real estate asset management needs strategic thought and execution so as to actively enhance the value and cash flow of the assets and this position will lead those efforts.
Responsibilities 1. Manages and leads the Company’s diverse real estate lease portfolio and initiatives 2. Responsible for conducting market and demographic research, as well as leading site selection and property tours with teams of investors and lenders and third-party service providers 3. Prepares market and initial site analysis, including trends, competition reports, and general site information 4. Prepares operating proformas and performs financial analysis to support lease and development program recommendations. Works to maximize total return from a project. 5. Develops and analyzes budgets and financial information for new locations, including Profitability Index (PI) and Shareholder Value Added (SVA) analysis. Manages cash flow long term. 6. Negotiates all terms of a lease contract with development partners prior to a financial closing and, on-going, with internal legal team to edit lease agreements and necessary legal documents 7. Assists development staff in the review and negotiation of Operating and Limited Partner Agreements for new development 8. Ensures lease obligations are fulfilled, reporting requirements are met, documentation is correct and complete and Company issues are resolved timely 9. Builds and directs a team of external consultants to complete Physical Conditions Need Assessment (PCNA) and assists EVP and SVP of Development in recommendations for the development pipeline based on the PCNA and Company strategies with respect to real estate activities and management 10. Manages real estate location inquiries, suggestions, and requests regarding prospective locations as assigned 11. Regularly and efficiently communicates with all parties involved in a project (i.e., private developer partners, sponsor, stakeholders, investors, state housing finance agency, city, development team members, etc.) 12. Communicates resource shortfalls to EVP of Real Estate Development in a timely manner 13. Works to establish and maintain relationships with developers, investors, debt providers, the state housing finance agency, city and other key stakeholders 14. Reviews budgets, accounting books and records for all apartments and properties in the Company portfolio 15. Coordinates with development staff and attorneys on purchases of new assets 16. Monitors all leasing activity to insure maximum occupancy and income 17. Responsible for hiring and monitoring the 3rd party property management companies, as well as monitoring the internal affiliate property management company 18. Renders assistance during acquisition and disposition of properties as well as assists in the development of the capital needs of the Company assets 19. Models a full lifecycle financial analysis for projects/assets in the portfolio.
Education and Experience Education: A minimum of a Bachelor’s degree preferably in Finance, Accounting, Business, Marketing, or Real Estate. Possessing a Bachelor’s degree and real estate experience can be substituted on a per applicant basis.
Knowledge and Skills 1. Knowledge: Extensive understanding of real estate, with a proven track record of successful real estate transactions across multiple property types is essential 2. Current knowledge of industry trends in real estate and development, and a natural desire to understand specific market characteristics; experience of commercial real estate analysis/asset management experience with an emphasis in office and industrial properties may be required. Experience in property management/leasing/operations is desirable; and finance or accounting experience may be required 3. Computer skills: Advance knowledge of Microsoft Office software, including Word, Excel, Projects, and Outlook are required 4. Entrepreneurial spirit: It is essential for asset managers to be entrepreneurial since many of the activities involved, such as negotiations, approvals and lease analysis, require that risks be assumed and forecasts made 5. Strong analytical skills: This skill is essential for evaluating and completing a wide range of real estate transactions 6. Communication skills: To successfully perform the duties of a real estate asset manager, they must possess strong verbal and written communication skills 7. Interpersonal skills: This is required for establishing and building and maintaining relationship with relevant parties (management, investors, property managers, landlords, etc.) 8. Strong organizational skills: It is essential for real estate asset managers to effectively coordinate and manage multiple assignments, as well as prioritize tasks and efforts 9. Negotiation skills: Highly developed negotiation skills is required for negotiations with property owners, investors, and significant others.
Supervision Controls The employee receives directions from the EVP of Real Estate Development. Courses of action, deadlines and priorities are established by policy, procedure, rule, regulation or the EVP, depending upon the assignment. Normal duty assignments are performed by the employee based on his/her own judgment. The employee supervises the Asset Management staff.
Guidelines The employee performs routine duties by following established HUD, North Carolina Housing Finance Agency, IRS and HDP policies and procedures and traditional practices. These guidelines cover most job-related situations and the employee may use independent judgment in making decisions within established parameters and area of expertise. If guidelines do not cover a situation, the employee normally consults the supervisor.
Complexity The employee performs a variety of complicated and highly analytical tasks. The employee may be required to coordinate, integrate, and/or prioritize tasks with other INLIVIAN departments or staff of the Company.
Scope and Effect The employee’s work primarily impacts (1) implementation of any tax credit allocation/bond volume cap application submitted and funded and new development goals and those who assist in these areas such as attorneys, architects, engineers and contractors, and (2) the Authority's residents and non-residents. Successful accomplishment of duties will result in timely completion of projects and provide better and more housing choices for families in the community.
Personal Contacts The employee has contact with a broad range of individuals including: co-workers, professionals such as developers, contractors, lending partners, architects, land planners, engineers, appraisers, attorneys, inspectors, etc. Personal contacts serve multiple purposes including: relationship building, giving or exchanging information, providing services, making decisions, resolving problems, justification and negotiation.
Physical Requirements • Must be able to sit and/or stand for up to eight hours at a time while performing work duties.
• Work may involve some physical exertion, such as kneeling, crouching, reaching, carrying or lifting and eyestrain from working with computers and other office equipment.
• Will include property inspections and walking tours.
• Must be able to bend, stoop, push, and pull in the performance of duties
• Must be able to use fingers bilaterally and unilaterally to operate office equipment
• Must have vision and hearing corrected to be able to perform essential job functions
• Must be able to perform essential job functions in an environment that will sometimes include increased levels of work-related stress
• Must be able to maintain punctuality and attendance as scheduled
• An employee may request a reasonable accommodation to mitigate any of the physical requirements listed above.
Work Environment Work involves the normal risks or discomfort associated with an office environment and is usually in an area that is adequately cooled, heated, lighted and ventilated.
Other Requirements Must possess a valid State of North Carolina or South Carolina driver’s license and regularly participate in continuous improvement and education. Must work with the highest degree of confidentiality.
About INLIVIAN f.k.a. Charlotte Housing Authority
Our Mission is to develop, operate, and provide quality housing in sustainable communities of choice for residents of diverse incomes.
We at INLIVIAN are proactively redefining our role in the Charlotte community and aspire to be the preferred provider of housing that is affordable for our growing population. By partnering with quality service providers for supportive services and becoming stronger financially, our hope is to become a collaborative leader who can present effective, affordable solutions to housing issues in Charlotte.
We are a non-profit real estate holding company with a public purpose. Our purpose is to provide decent, safe, housing that is affordable to low and moderate-income families while supporting their efforts to achieve self-sufficiency. INLIVIAN works hand-in-hand with quality service providers for supportive services and as a result, we continue to evolve as a collaborative leader, helping to provide solutions to housing issues in Charlotte and the surrounding area.
We do this through developing real estate, managing those assets, and providing caring case management and self-sufficiency programs.