Responsibilities

Related California is seeking an Asset Manager to oversee 25 affordable housing properties in Southern California. The position is full-time located in Related’s Irvine office. The ideal candidate will have at least 5 years of Affordable Housing Asset Management experience and be knowledgeable in all aspects of property operations, financial analysis, compliance and risk management. Importantly, our approach to Asset Management requires oversight over every aspect of a property lifecycle so successful Asset Managers have a broad base of experience and an ability to multitask. Candidates must possess a strong work ethic, an intellectual curiosity for learning and strong working knowledge of affordable housing operations and finance.

We are a small 4-person team of Asset Managers with broad responsibility for a large, complex and growing portfolio of properties. The portfolio currently consists of about 7,500 Affordable Units within 80 business units, 2,500 Market Rate units and about 250,000 square feet of retail space, growing at about 10% per year. Asset Managers are required to operate within an established framework of work and performance requirements but are encouraged to personalize processes to fit their personal style and achieve superior end results. This is a very entrepreneurial and collaborative department, so the successful candidate will be comfortable in a fast-paced and unstructured environment but will be assertive enough to advocate for improvements where needs are identified.

• Oversee and hold property management or operating partners accountable for implementing property business plans
• Analyze monthly property reporting (income statement, balance sheet, rent roll, etc.) and meet regularly with regional or site staff to review and course correct where necessary
• Oversee and monitor loans and regulatory agreements for continued compliance
• Prepare and coordinate all property regulatory compliance requirements for TCAC, CDLAC, agencies, lenders & investors
• Respond to all stakeholder inquiries regarding property operations & performance
• Visit portfolio properties to ensure the successful implementation of the business plan
• Maintain constant communication with the Property Management teams and be the decision maker on various property related issues
• Oversee the annual budget process. Review and finalize budgets proposed by property management, ensuring each meets or exceeds the business plan and is in-line with the property’s needs and industry standards. Hold property management accountable for abiding by the budget.
• Participate in refinances, recapitalizations, acquisitions, and dispositions of assets
• Take ownership in identifying value-add opportunities and strategies throughout the assets
• Oversee cash management for each property, including tracking capital improvements, managing operating and reserve balances, and annual cashflow distributions. Manage all real estate tax exemptions, including submission of annual filings. Manage database of property valuations and ensure accuracy of tax billings
• Report, track and manage all insurance-related incidents
• Loan Conversions on new property deliveries

Compensation

• $90,000 - $120,000 / year
• Annual performance based bonus

Qualifications

• Good organization skills with an ability to manage multiple deadlines, tasks and assignments
• Complex thinker with intellectual curiosity and a propensity to question established tenets
• Keen attention to detail and innate time management skills
• Suitability to an entrepreneurial culture that places a premium on performance
• Exceptional interpersonal skills to represent the firm in a professional manner externally with third-party partners and their affiliates
• Commercially conscious with an entrepreneurial spirit who demonstrates sound judgment and an aptitude for identifying opportunities and crafting creative solutions
• Highly organized with an ability to process multiple active projects and initiatives simultaneously
• Assertive, opinionated
• Effective at idea generation, strategic planning and implementation
• Excellent written and verbal communication skills
• Must be a team player but also a self-starter that can perform with limited direction or oversight
• Candidates that have a passion for real estate, a strong work ethic and a desire to advance professionally
• Tenacious work ethic in a challenging, evolving, collaborative and team-oriented environment
• Strong MS Office, Excel, Outlook and Word skills are a prerequisite; experience with database management and/or web-based application development a significant plus
• Familiarity with Orange County Housing Authorities preferred but not required

We are proud to be an equal opportunity employer and are deliberate about the team and culture we are building. We aim to ensure competitive total compensation that is commensurate with experience, workplace geography, and market standards.

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Overview

Divisional Overview

Related California, the West Coast affiliate of Related Companies, is a fully integrated real estate firm that develops multifamily residential and mixed-use properties in California.

Since 1989, Related California has undertaken a range of transformational developments from best in class luxury high rise residential properties to the redevelopment of obsolete public housing, spanning a broad spectrum of urban infill, affordable, mixed-income and market rate multi-family developments. The company has a development portfolio of more than 21,000 residential units completed or under construction, and more than 7,950 affordable and 6,800 market rate units in pre-development.

Related California has a long history of community partnership, having collaborated with more than 45 municipalities and over 30 non-profit organizations throughout California, and has successfully developed and managed a broad range of property types throughout Alameda, Contra Costa, Los Angeles, Orange, Sacramento, San Bernardino, San Diego, San Francisco and Santa Clara counties. Related California has developed more than $11.7 billion in assets and has a track record of consistently developing communities that exceed industry benchmarks in design, construction, sustainability and property management. For more information about Related California, visit www.relatedcalifornia.com.

Firm Overview

Formed in 1972, Related is the most prominent privately-owned real estate firm in the United States. Headquartered in New York City, the company has offices and major developments across the world. Related owns and manages a premier portfolio of assets valued at over $70 billion, including the 28-acre Hudson Yards neighborhood on Manhattan’s West Side. 

Related believes in investing in its talent and cultivates a positive, team-oriented environment where every voice is valued. Employees are encouraged to boldly take on new challenges, transcend the status quo, and demonstrate strong entrepreneurial spirit. In its relentless commitment to excellence, Related works to foster an innovative approach in its team members so that they can positively impact the communities in which they conduct business. Learn more about Related at www.related.com.