Director, Real Estate Asset Management

Position: Director, Real Estate Asset Management

Department: Real Estate

Reports to: Vice president, Repositioning & Asset Management

Salary Grade: Q

Salary Range: 97,700-122,200.00

Position Summary: 

The Director, Real Estate Asset Management, under the supervision of the Vice President, Real Estate Asset and Property Management, will be responsible for leading the Asset Management team overseeing the agency’s real estate portfolio including properties and undeveloped vacant land. Provides ongoing monitoring and reporting of the portfolio’s overall financial, operational, and compliance performances. Works closely with private Owners/Developers to ensure that properties are managed in accordance with applicable HUD regulations and policies to achieve optimal value and operational excellence.

Essential Duties and Responsibilities:

• Provides the daily leadership and guidance for the Asset Management team consisting of Asset Managers and an Asset Management Data Analyst, which includes establishing team goals; monitoring team and individual performances; conducting performance reviews; assessing staffing needs; and recruiting, hiring, and terminating staff, as necessary.

• Leads the team in documenting all asset management functions via the development of department policies and procedures and flow charts. Ensures implementation of established policies and procedures and consistency across all portfolios.

• Develop and implement strategies that will maximize the financial performance and value of the agency’s real estate portfolio.

• Establishes key performance indicators (KPIs) for the real estate portfolio; implements processes to measure overall financial, operational, and compliance performances against set KPIs and to identify at-risk properties to place on a “Watch List.”   

• Monitors and reports the portfolios’ overall financial, operational, and compliance performance via the distribution of quarterly asset management performance reports.

• Develops and maintains strong relationships with external parties including private owners/developers, management companies, local housing agencies, local municipalities, and elected officials.

• Ensures annual operating budgets submitted by properties are realistic; the subsidy levels paid by the agency are sufficient to support the properties; and annual subsidy reconciliations are administered in accordance with the respective Regulatory and Operating (R&O) Agreements.

• Ensures the timely calculation and collection of all fees due to the agency such as asset management fees, net cash flow distributions, developer fees, etc. as required under the various agreements.

• Provides historical property financial and operational data to help inform decisions around possible new acquisitions; support underwriting pro-formas; and other special requests as needed.

• Assesses the properties' long-term financial sustainability based on the review and analysis of audited financial statements and operational performance. Develop and implements turnaround plans as needed.

• Prepares and presents recommendations on complex asset management issues to senior management that may require internal policy changes or HUD approval.

• Stays abreast of all factors affecting the market and submarkets associated with the current portfolio, including changes in rent, housing type, and supply and demand.

Education and Experience:

• This position requires a minimum of a bachelor’s degree in accounting, Finance, Real Estate, or other business-related fields.

•  A master’s degree in business administration, Real Estate Management, Finance, or Accounting is strongly preferred.

•  A minimum of five years of experience in a real estate asset management leadership role with direct reports or a minimum of ten years of relevant multifamily real estate and financial analysis experience.

• Affordable Housing experience is a plus.

Knowledge and Skill Requirements: 

• Excellent analytical skills, both quantitative and qualitative.

• Exceptional leadership and communication skills.

• Knowledge and demonstrated use of various business software applications/products such as Microsoft Office – Excel, Word, Outlook, and PowerPoint; SharePoint; Visio; Power BI; and Smartsheet. 

​Working Conditions:

Works in an office environment. May require frequent bending, stooping, reaching and prolonged sitting and/or standing. May require regular lifting usually not exceeding 15 lbs. May be required to have a valid State of Georgia driver's license and be fully insurable for the purpose of obtaining clearance on company "Authorized Drivers List".