LIHTC Industry Jobs:

Senior Asset Manager

 

Posting Date: February 25, 2008
Closing Date: Until filled

Title: Senior Asset Manager
Company: Red Stone Equity Partners, LLC
Location: Cleveland, OH

Description:
Red Stone Equity Partners, affiliated with one of the nation s largest and most successful financial services companies, is a fast growing firm specializing in low-income housing tax credit (LIHTC)  investments.  As part of its business plan, the firm seeks a senior asset manager to compliment its real estate investment team of executives in Cleveland, Ohio.

Job Responsibilties:

• Assist acquisitions in correctly structuring   investments by evaluating projected budgets, lease-up assumptions and capacity of the proposed property management agent.
• Undertake initial site visits and complete comparable property evaluations.
• Prepare internal approval memorandums for real estate investments.
• Assist in the original underwriting of the prospective deal by completing a written evaluation of the investment strengths and weaknesses and testing financial projections for soundness.
• Monitor the construction, lease-up, compliance, and on-going management for a portfolio of assigned properties.
• Analyze the appropriateness and timing of equity installments, equity adjustments and yield maintenance calculations.
• Maintain a comprehensive database of information related to property operations and utilize the data to correctly structure new investments and to inform investors of property performance on a quarterly and annual basis.
• Conduct property inspections and report findings.
• Review and approve operating budgets, tax returns and annual audits for each property in the portfolio.
• Establish relationships with management agents, housing agencies, lenders and other key public and private sector players.
• Respond to special request for information from investor and capital clients in a professional manner and on an expedited basis.
• Participate in team initiatives to improve property monitoring and risk management processes.

Competences/Requirements:

• Bachelors Degree in Finance, Real Estate, Accounting or other relevant areas of study.
• Graduate degree preferred.
• Minimum four years directly related experience.
• Low Income Housing Tax Credit (LIHTC) asset management experience and expertise.
• Proficiency in Microsoft Office including Excel.
• Excellent communication, decision making, analytical, organizational and interpersonal skills.
• Capable of presenting to Senior Management and working within an overall asset management group.
• Red Stone offers a competitive salary along with a comprehensive benefits package.

To Apply:
E-mail resume to cj.tyree@redstoneequity.com