DIRECTOR OF ASSET MANAGEMENT
Job Overview
We are seeking an experienced Asset Manager to join our leadership team. The Director of Asset Management will report to the leadership team and be responsible for all aspects of the financial performance and business strategy of our portfolio. This role involves developing property management strategies, reporting on financial performance, monitoring compliance with all regulations and agreements, and liaising with partners, lenders, and governmental institutions. The ideal candidate is self-motivated, entrepreneurial, and knowledgeable in affordable housing programs.
Key Responsibilities
- Develop and formalize asset management strategies and processes to maintain and improve portfolio assets.
- Collaborate with local property management companies to oversee day-today operations of our communities, implementing Sunrise business plans and establishing performance milestones.
- Conduct monthly reviews of portfolio including property level preparation of financial statements and monitoring and analyzing rent rolls, lease expiration schedules, vacancy rates, and marketing efforts to maximize performance.
- Participate in transactions by coordinating due diligence with relevant counterparties and overseeing refinancing processes for projects positioned for refinancing.
- Ensure Sunrise upholds operating and property management agreements by liaising with banks, government institutions, and tax credit syndicators to demonstrate our compliance and ensure completion of reporting requirements.
- Work with the Construction department to track and evaluate development and construction projects, including rehabilitation initiatives, ensuring they remain within budget and scope.
- Regularly conduct on-site visits to assets in the portfolio to represent ownership, examine the local property management agent and assess the physical condition of properties.
- Present property and portfolio performance metrics to senior leadership quarterly and investors semi-annually.
Requirements
- 7-10 years of experience in real estate asset management, with a focus on Affordable Housing multifamily properties. Past experience with LIHTC and Section 8 is required.
- Strong financial modeling and quantitative analysis skills.
- Experience managing rehabilitation projects and capital expenditures.
- Strong interpersonal skills to effectively manage relationships with internal teams, property management companies, and partners.
- Job is located in New York, NY and can be remote for the right candidate.
- Travel up to 40% of the workweek.
Salary
Competitive salary ranging from $175,000 – $225,000, depending on experience and qualifications.
Equal Opportunity Statement
Sunrise is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status.
