Senior Asset Manager

Website GMD Development LLC

The Opportunity

GMD Development is seeking a Senior Asset Manager. As the Senior Asset Manager, you will be responsible for managing a portfolio of affordable multifamily properties in the greater Pacific Northwest region.

The Senior Asset Manager will oversee a group of properties within the GMD property portfolio to ensure their financial performance and physical condition and be a relationship manager with third party management companies, state agencies, lenders, equity investors and community partners.

This position could be remote with regular scheduled visits to the Seattle office.

 

About Us

A private, mission-based developer/owner of affordable housing based in the Pacific Northwest, GMD Development is committed to a proactive and solution-oriented approach to the challenging task of creating affordable housing for families and seniors that delivers meaningful outcomes for communities and changes people’s lives.

Since 2011, GMD has established a track record of success working with a variety of partners to create the best possible projects, including new construction and preservation of existing housing in both rural and urban communities. We strive to not only achieve a higher level of quality product, but believe it is a responsibility to build quality design and sustainability into every project. GMD Development targets higher growth markets with the significant disparity between average workforce incomes and affordability.

 

The Role

  • Monitor the fiscal status of GMD communities – including monthly financial statement review and circulation of the quarterly portfolio performance report, recommendation, and implementation of solutions of under-performing properties and governing document compliance
  • Provide third party property management oversight
  • Assist in the preparation, review, and approval process of annual property operating budget
  • Track the financial and regulatory status of assigned portfolio, including regulatory agreements, tax credit compliance periods, loan agreement provisions and expiration
  • Ensures timely and accurate reporting to investors, lenders, and agencies
  • Communicate effectively with stakeholders including investors, lenders, agencies, and community stakeholders
  • Monitor reserve balances and oversee requests for release of replacement and operating reserves
  • Conduct annual site visits to the properties
  • Represent GMD during partner inspections and coordinate site visits such as HFA inspections, REAC, lender and investor inspections
  • Identify and coordinate annual capital needs investment at each property
  • Research partnership agreements, regulatory agreements, loan / financing documents and other source documents as needed
  • Monitor insured values of assigned real estate assets and works with CFO to ensure appropriate coverage
  • Monitor property tax billings for accuracy ensuring appropriate valuations and exemptions
  • Responsible for planning and implementation of Year 15 strategies with investor partners
  • Manage property dispositions as needed
  • Participates in the development process for new properties – including review of selected materials and proposed operating budgets
  • Assist in gathering information required for capital calls, perm conversions and other investor / lender items
  • Assist in the lease-up process for newly developed properties, coordinate these efforts with the third-party property management companies and ensure that rent and tenant mix are compliant with governing documents
  • Assist with end of project close-out to state agencies and loan conversions.
  • Selected tasks to support the company housing development activities will supplement the asset management duties from time to time

 

What You Bring

  • Able to successfully work in a team-oriented environment and partner with internal colleagues, external team members, and cross-functional groups
  • Strong analytical, accounting, and critical thinking skills
  • High comfort level with the technology used to aid in collaboration, communication, and documentation
  • Ability to prioritize and handle multiple projects to meet deadlines
  • Excellent written and oral communication skills
  • Advanced knowledge of Excel including building templates for other users
  • Knowledge of real estate finance including underwriting, valuation, debt, and equity structures.
  • Other experience in real estate development activities is a bonus

 

Travel

  • Travel required to GMD properties as needed, but not frequent.

 

Preferred Qualifications

  • 7-10 or more years of experience relative to affordable housing finance or asset management, financial analysis, real estate lending or related work

 

Our Benefits

  • Competitive salary and bonus commensurate with experience
  • 100% covered medical, dental, and vision insurance
  • 401(k) plan with company matching
  • Generous Paid Vacation, Paid Holidays, and Sick Time
  • Company and team-building events

 

COVID-19 Vaccination Policy

GMD has an employee vaccination policy in effect and, if hired, any applicant must provide appropriate evidence of full vaccination prior to the agreed upon employment start date, subject to any applicable religious or medical exemptions required by applicable law.

 

Equal Employment Opportunity

GMD Development is an equal opportunity employer. We prohibit discrimination and harassment of any kind and afford equal employment opportunities to employees and applicants without regard to race, color, religion, sex, sexual orientation, gender identity or expression, pregnancy, age, national origin, disability status, genetic information, protected veteran status, or any other characteristic protected by law.

To apply for this job email your details to carolyn@gmddevelopment.com