Portfolio Manager, Affordabe Housing LIHTC - Req. 1802825
Affordable Housing Asset Manager, LIHTC
Department: Raymond James Tax Credit Funds
Location: Raymond James Financial, Corporate Headquarters: St. Petersburg, FL
Relocation/Telecommuter: Relocation assistance may be provided; Telecommuting is not offered.
The #1 For-Profit Syndicator in the Low Income Housing Tax Credit Funds (LIHTC) industry, is hiring a Property Asset Manager to manage a portfolio of multifamily real estate partnerships to preserve the value of Investor Equity and the stream of benefits associated with that Investment.
- Monitor Low Income Housing Tax Credit (LIHTC) compliance and property management activities.
- Consult on property operations with a view to protect and insure the long term viability of portfolio assets.
- Have proven experience with institutional clients and ability to present information to investors.
- Workout experience preferred.
Essential Duties and Responsibilities:
- Oversees the investment properties that are directly assigned to their portfolio.
- Performs site visits to observe the physical conditions and management practices of LIHTC properties.
- Review and monitor quarterly operational reports and evaluate Partnership performance through pre-established standards and key indicators.
- Develops and maintains relationships with general partners/ developers, lenders, state agencies, and managing agents
- Exhibits market and investment knowledge when interacting with partners and investors.
- Provides support and analysis to general partners and management companies with the goal of increasing profitability and reducing risk.
- Provides advisory and support to facilitate the improvement and expansion of new business.
- Identify partnerships that require Watchlist status and develop strategies to address all issues.
- Maintains a thorough and current record of property activity in our proprietary database.
- Prepares investor and developer reports as necessary.
- Participate in and leads efforts relative to team initiatives
- Performs other duties and responsibilities as assigned.
Knowledge, Skills, and Abilities:
- Institutional asset management, LIHTC preferred.
- Advanced concepts, principles and practices of multi-family real estate/housing operations, including property inspections, property management, property maintenance, and compliance.
- Advanced concepts, principles and practices of LIHTC and compliance, preferred.
- Advanced knowledge of real estate finance.
- Knowledge of institutional investment strategies and partnership structures
- Accounting principles.
- Strong analytical skills & financial acumen Use of Asset Management system / database
- Excellent organizational and communication skills
- Document Management technology.
- Identifying the needs of customers through effective questioning and listening techniques.
- Detail orientation to ensure quality standards are met without impairing workflow.
- Communicating both orally and written.
- Follow-up to ensure resolution and completion of tasks.
- Demonstrating sensitivity to customer needs (both internal and external) and proactively address customer needs.
- Operating standard office equipment and using required software applications to produce correspondence, reports, electronic communication and spreadsheets.
- Communicate complex issues to others with a varied understanding of the subject matter.
- Interpret and apply policies and identify and recommend changes as appropriate.
- Organize, manage and track multiple detailed tasks and assignments with frequently changing priorities in a fast-paced work environment; and maintain accuracy on completed work.
- Proactively demonstrate readiness and ability to initiate action.
- Work independently as well as collaboratively within a team environment.
- Identify required tasks, develop timelines and execute.
- Establish and maintain effective working relationships at all levels of the organization, including negotiating resources.
- Project a positive, professional image both internal and with external business contacts.
- Convey information clearly and effectively through both formal and informal documents.
- Identify relationships, draw logical conclusions and interpret results for use in decision making.
Educational/Previous Experience Requirements:
Bachelor’s Degree (B.A.) in related field and a minimum of three (3) years of relevant real estate experience including physical property site inspections and interpreting financial statements.
Any equivalent combination of experience, education, and/or training approved by Human Resources.
Tax Credit Certification from a recognized agency, or ability to obtain in 6 months.
Raymond James Tax Credit Funds is a leading provider of high-quality affordable housing developments throughout the nation.
Since the tax credit program began in 1986, we have raised more than $6 billion in equity for more than 1,700 properties throughout the United States. Each of our funds has been successful in delivering its projected tax benefits. Furthermore, RJTCF has never had a credit recapture to date. Our portfolio boasts an average occupancy of nearly 95%, and our ratio of underperforming assets is about half that of the industry averages.*
Our focus on the quality of our development partners, specific market expertise and comprehensive due diligence have earned us recognition as a leader in the affordable housing industry.
At Raymond James, Service 1stSM is our commitment – our clients come first, and we will provide the highest level of service with integrity. This approach has allowed RJTCF to retain our development partners and maintain a stable group of investors that have partnered with RJTCF year after year.
*From Ernst & Young’s Understanding the Dynamics V: Housing Tax Credit Performance and 2007/2008 sampling data.
Service 1stSM is a service mark of Raymond James Financial, Inc.