Job Description

Real Estate Asset Manager

West Central SATX

The Real Estate Asset Manager will be responsible for developing and executing property-level strategies to enhance and protect asset value, meet ownership objectives, and oversee key asset management issues for a portfolio of affordable rental housing developments, including both single and multifamily units. This role involves ensuring the overall operation and performance of these properties, conducting financial reviews, monitoring property management companies, assisting with acquisitions, development, and dispositions, securing property insurance, handling casualty claims, filing property tax exemption documentation, and preparing financial reports. The Real Estate Asset Manager reports directly to the Executive Director.

This is a small, tight-knit organization, offering the opportunity to know and interact with colleagues daily. There is no micromanaging here, and the company has a great culture!

Offered Benefits:

• 100% paid medical coverage & life insurance
• Low-cost optional vision and dental coverage
• 1:1 3% 401k match
• Start with 10 vacation days, 13 paid holidays, 6 sick days, and 1 additional holiday of your choice!

Real Estate Asset Manager Responsibilities

• Perform onsite inspections of rental properties.
• Develop and implement plans for the real estate portfolio focusing on capital improvement reserves and maximizing net operating revenue while meeting affordability objectives.
• Formulate comprehensive asset strategies, including property improvements, capital structure, and sell/hold analysis based on financial, market, and valuation analyses.
• Meet income and expense targets and scheduled revenue distribution payments for each property.
• Monitor debt service payments to ensure timely payments.
• Oversee replacement and operating reserves to meet or exceed plans.
• Prepare quarterly property performance reports, including progress on strategic initiatives, budget comparisons, and debt service coverage ratio calculations.
• Approve reporting documentation for lenders, trustees, bondholders, and housing finance corporations for both financial and affordability compliance.
• Negotiate management agreements with third-party management firms.
• Negotiate insurance coverage to comply with lender and organizational requirements.
• Administer insurance casualty claims from incident report receipt to claim closeout.
• Prepare and file property tax exemption applications before statutory deadlines.
• Coordinate the preparation of year-end audited financial statements and income tax returns for low-income housing tax credit properties, ensuring deadlines are met.
• Submit financial information for annual audits and respond to auditor inquiries.
• Develop operating budgets, capital expenditure budgets, and physical needs assessment impound projections.
• Approve disbursement requests from Replacement and Rehabilitation Reserves.
• Perform inspections for new construction and rehabilitation construction payment applications and approve payment amounts.
• Conduct due diligence reviews for land, single-family, and multifamily property acquisitions, making recommendations on site selection, purchase price, financing terms, rehabilitation plans, and budgets.
• Approve acquisition closing statements.
• Participate in staff, Board, and community meetings as requested.
• Perform other duties as assigned by the Executive Director.

Real Estate Asset Manager Requirements

• Bachelor's degree in Finance, Accounting, Business, Real Estate, or related field.
• 4+ years of real estate asset management experience with a proven track record and experience in executing strategies for single and multifamily rental properties.
• Ability to read and interpret financial statements, purchase and sale documents, and commercial loan documents.
• Vehicle for daily work-related duties and a valid Texas driver's license with a good driving record (no DWI's, accidents, or speeding tickets in the past three years).
• Highly developed financial analysis and asset management skills, particularly related to affordable housing rental properties.
• Familiarity with single-family and multifamily new construction and rehabilitation contracting, materials, methods, and processes.
• Advanced proficiency in Excel, and proficient in Word and Outlook.
• Strong organizational, presentation, negotiation, and communication skills.
• Ability to coordinate complex activities, prioritize, meet deadlines, and handle stress from multiple priorities.

Preferences

• Non-profit housing experience preferred but not required.
• Public accounting/industry mix and/or CPA = huge plus!

Salary: up to $125,000.00 depending on experience.

Working Model: This opportunity is 100% in office + travel within the San Antonio area.

Don't meet every single requirement? Studies have shown that individuals are less likely to apply to jobs unless they meet every single qualification. At CFS we are dedicated to building a diverse, inclusive and authentic workplace for all our clients, so if you're excited about this role but your experience doesn't align perfectly with every qualification in the job description, we encourage you to apply anyways. You may be just the right candidate for this or other roles.

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