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About the Role

The Director of Asset Management leads the development and implementation of asset management strategies to achieve optimal return on investment and effective deployment of Mission Housing's property, infrastructure, and equipment portfolio. This role is responsible for maintaining high-quality assets, designing and implementing strategies within the multifamily unit, overseeing relationships with third-party property management, and leading teams involved in the strategic management of Mission Housing’s portfolio.

Responsibilities

Develop and implement Mission Housing's asset management plans and strategy, monitor and report on performance to optimize the value of the asset portfolio.
Develop new and existing relationships with industry counterparts and community development leaders.
Lead implementation of asset management, compliance, and maintenance programs, providing professional oversight to protect the company's investment and financial interests.
Determine appropriate frameworks, processes, and standards for asset acquisition and disposal, ensuring compliance with financial, legal, and commercial principles.
Provide strategic advice to support the implementation of effective asset management principles across the organization.
Develop financial models, perform financial analyses, and recommend appropriate strategies and capital requirements for major assets.
Develop recommendations related to portfolio profile, deployment, acquisition, disposal, or retirement of specific major assets.
Independently monitor the activities of property management firms and report significant information.
Lead and monitor the third-party property management company in the performance of lease-ups.
Identify, evaluate, and recommend capital improvement and replacement projects, including energy efficiency retrofits.
Manage LIHTC capital accounts through annual analysis and exit tax projections.
Directly supervise Facilities Manager and Senior Asset Managers and manage their performance, development, and training.
Collaborate with development and finance teams to identify opportunities for rehab and re-syndication.
Work with the Mission Housing team to accomplish goals for portfolio, new construction, and acquisitions.
Establish a feedback loop with the Asset Manager and project development team to capture learnings from portfolio investigations.
Collaborate with Resident Services to ensure current services are effective and practical.
Represent Mission Housing’s ownership concerns and coordinate with property managers and project managers to ensure lease-up, marketing, outreach, and maintenance of waiting lists are handled in accordance with plans and requirements.
Ensure that development goals are met on time.
Create and refine reporting procedures, database, and other informational systems to collect data, track projects, enhance communication, and distribute to management.
Review and analyze monthly property financial statements for reporting.
Review annual operating budgets to ensure implementation of multi-year plans and coordination with property management.
Ensure properties are meeting financial goals as projected and required.
Contribute to the preparation of audited financial statements and ensure surplus distributions are made correctly and on a timely basis.
Represent Mission Housing to stakeholders, partners, lenders, property managers, vendors, residents, and community members.
Create asset management plans for Mission Housing’s operating portfolio.
Perform site inspections and oversee physical risk management.
Manage insurance for Mission Housing controlled portfolio, including claims, deductible and coverage levels.
Oversee the creation, collection, and maintenance of physical specifications to maintain design integrity while updating and greening the product.
Lead and perform due diligence on proposed new acquisitions and make recommendations.
Research partnership agreements, financing documents, regulatory agreements, tax returns, and other source documents to determine constraints and barriers.
Monitor property commercial spaces and work with brokers to market and negotiate leases.
Negotiate with partners and/or lenders to amend agreements.
Facilitate approval processes with lenders and/or investors.
Prepare and review all reporting information due to investors/lenders.
File welfare exemptions and business entity forms.
Complete other tasks related to real estate asset management, policy development, budgets, planning, maintenance of records and systems, and administration.
Perform other duties as assigned, including working at occasional community-building activities, programs, and events.

Requirements

7 years progressive experience in real estate asset management and affordable housing development, preferably with specific experience managing assets within the San Francisco Mayor’s Office of Housing ecosphere.
Experience applying for, managing, and closing refinances and syndications for affordable multifamily developments, preferably with specific experience coordinating said projects with the San Francisco Mayor’s Office of Housing and California HCD.
Proven skills in asset management, planning, and analyses of complex legal, financial, and regulatory information.
7-10 years’ experience supervising other employees.
Proven ability to oversee successful budget performance from third parties.
Strong, clear, tactful communicator in writing and verbally.
Accustomed to forward thinking and being proactive.
Enthusiasm and team building spirit, able to lead the team, and able to be an expert, contributing member.
Computer literacy in office automation and various software applications using spreadsheets, word processing, and databases.
Intermediate level of proficiency in Outlook.
Demonstrated experience and ability to create and manage budgets and reports with Excel.
Experience with Access or other databases helpful.
Ability and experience with utilizing operating financial data to model performance and analyze and report recommendations.
Keen understanding of the owner role and function to carry out dual bottom line of social mission and financial viability.
Knowledge of real estate development, affordable housing finance, and asset management functions.
An entrepreneurial and creative approach to problem solving in the field of affordable housing and asset management.
Demonstrated leadership in the work environment.
High standards of ethics and integrity in all their work and will be expected to hold close Mission Housing’s organizational values.
Ability to work effectively with a diverse team of professionals and for a diverse clientele.
Regularly required to sit; use hands; reach, talk and hear.
Occasionally required to stand, walk and drive.
Must occasionally lift and/or move up to 20 pounds.

Skills

Asset management
Financial analysis
Budget management
Excel
Access
Outlook
Leadership
Communication
Problem-solving
Team building
Real estate development
Affordable housing finance
Risk management
Insurance management

Location

San Francisco

Work Type

Hybrid
Full-Time

Experience Level

Director
7 years progressive experience in real estate asset management
7-10 years’ experience supervising other employees

Education Level

Bachelor’s degree in Business, Management, Finance, Planning, or Real Estate

Salary/Compensations

$175,000.00 to $190,000.00 per year, DOE

Benefits

Medical
Dental
Vision
Retirement plan

About the Company

Mission Housing Development Corporation is a private nonprofit housing developer founded in 1971.
Mission Housing's mission is to strengthen communities and build equity by creating and preserving service-rich affordable housing.
We own 40 affordable housing buildings serving 3,500 families, seniors, and formerly unhoused San Franciscans.
Mission Housing's vision is vibrant communities where everyone has secure, affordable, and sustainable housing.
Mission Housing is a drug-free workplace as required by the “Drug-Free Workplace Act of 1988.”

Equal Opportunity

Mission Housing is an equal opportunity employer and does not discriminate against any employee or applicant for employment because of race, color, ethnic background, religion, sex, sexual orientation, age, national origin, or disabilities.
Please let us know if you need any reasonable accommodations.
Pursuant to the San Francisco Fair Chance Ordinance, we will consider for employment qualified applicants with arrest and conviction records.