Asset Management Associate, Property Management

Description

PURPOSE

Following the completion of construction, support the reporting and diligence efforts in development for the final close out of project commitments with local and state municipalities, tax credit investors, lenders, and various post-completion due diligence items. Coordinate various accounting reports, leasing report updates, rent and occupancy tracking, certifications, 3rd party report updates, and other due diligence items to assure key benchmarks from investors are met appropriately and timely. Help oversee property management companies at each of TWG’s owned properties. Report to the Director of Asset Management and coordinate various items with Development, Finance, and various property management teams. 

DUTIES & RESPONSIBILITIES

• Review project commitments, tax credit commitments and closing equity documents for priority items and need for clarification by partners
• Lead the communication efforts with 3rd parties on the close out of the project for receipt of various allocations, certifications, incentives, and post-closing items required by financial partners (such as post-completion surveying and environmental testing)
• Ability to understand the financial and legal implications of commitments made to 3rd parties, and to effectively communicate those items to the Accounting, Management, Finance, and Legal teams
• Prepare and circulate internal checklist items required for the post-completion of projects
• Coordinate and produce established or ad hoc reporting      for lenders and investors on projects after construction and during lease up
• Ability to review management leasing reports and provide guidance on stabilization and timing issues
• Utilize Dealpath for task lists and updates on timing, diligence reports, outstanding inter-department feedback, cost impacts and other project updates
• Problem-solve with Accounting, Management, Finance, and Legal teams as issues arise in reporting and seek input from development leadership as needed
• Conduct ad hoc meetings and updates with consultants and internal teams
• Prepare the successful turnover of project details and files to Finance, Accounting, Legal, and Management teams upon project      stabilization, refinance, and final tax credit installments
• Provide weekly updates on projects to development leadership and participate in team-wide updates and idea sharing
• In coordination with Finance team, lead due diligence efforts during dispositions, permanent debt conversions, and refinances
• Review property management agreements, coordinate onboarding of property management teams with Accounting and Construction Management teams
• Review weekly and quarterly leasing reports, consider suggestions on current rental rates, review annual operating budget proposals, and consider impact on valuation of properties to Finance team. 
• Track property insurance expiration dates and obtain insurance quotes as needed.
• Assure filing and receipts of tax credit allocations, certifications, delivery of tax credits, tax abatements, and other incentives. 

Requirements

QUALIFICATIONS

• Bachelor’s degree (BA/BS) in Property Management, Finance, Real Estate, Urban Planning, Engineering, Construction or Architecture related field
• 0-5+ years’ experience in real estate development industry, preferably within multifamily (including market rate, senior, affordable, or mixed-income housing); or strong desire to be part of our multifamily real estate development team
• Familiarity with real estate development, construction of commercial development and/or multifamily housing, lease up process, review of management reports, and review of monthly accounting financials
• Team leadership or project management experience preferred
• Ability to coordinate and collaborate with members of Development, Accounting, Finance, and Management teams
• Ability to provide ad hoc and monthly reporting to sophisticated lenders, investors, and local/state agencies
• Familiarity with tax credit reporting processes, tax credit equity installments, and various due diligence coordination preferred, but not required
• Familiarity with tax credit and market rate multifamily development, preferred but not required
• Competency in Microsoft Office products, file share sites, and various document tracking applications
• Ability to work independently and in team settings
• Ability to provide consistent reporting in written and verbal form
• Able to adapt to changing deal structures across various deal types in a fast-paced environment
• Displays initiative and strong sense of personal motivation a must
• Displays analytical and proactive problem-solving ability, and ability to think multiple steps ahead
• Strong and effective organization, communication, and coordination skills
• Work and support projects and the development process at all levels
• Promote a sense of teamwork within each project
• Minimal travel required