Community Affordable Housing Equity Corporation (CAHEC) is currently seeking candidates for an Asset Manager. CAHEC is a non-profit tax-credit syndicator based in Raleigh, NC that helps develop and foster healthy neighborhoods by raising equity capital and investing in affordable rental housing and community revitalization. CAHEC also invests in the people living in the properties it helps finance through its innovative enrichment opportunities called Community Investments.
An Asset Manager is responsible for ensuring investors receive anticipated benefits associated with an assigned portfolio of multifamily real estate partnerships by proactively monitoring the investments’ operational performance, compliance with Section 42 of the IRC, and regulations of other applicable housing programs, funding sources, and laws. An Asset Manager identifies performance concerns and works to resolve them, to maximize return on investments, prevent losses, and promote positive relations with investors and owner/managing partners. Timely communication of concerns and potential solutions to all stakeholders is essential in order to address portfolio matters as soon as possible. Successful portfolio management is accomplished by evaluating reports, inputting accurate and timely data, preparing and interpreting historical and trend analyses, and performing regulatory and physical site assessments.
Some specific functions include, but are not limited to, the following:
Identify operational or regulatory issues and work to resolve them in order to maximize return on investments, prevent losses, and promote positive relations with investors, owners, and managing associates.
Evaluate reports, maintain accurate and timely data, prepare and interpret historical trends, perform site inspections, and consult with all stakeholders.
Maintain frequent verbal and written communication with developers, property management agents, state agency representatives, and other associates during the construction and management of the properties.
Participate in investment review meetings and provide technical assistance and support to the Acquisitions, Fund Management, and other CAHEC departments.
Bachelor’s degree in business management, business administration, accounting, finance, real estate. Or, an equivalent combination of education and comparable work experience.
Minimum of three (3) years of relevant multi-family residential real estate experience with a focus on the review and interpretation of property financial statements. Experience performing physical site inspections is preferred.
Intermediate Excel and Word skills. Excellent analytical skills. Excellent verbal and written communication skills, coupled with the ability to maintain productive working relationships with all stakeholders. General knowledge of accounting, financing processes, and residential, multi-family property management best practices. Ability to collaborate in a team environment.
This position is based out of CAHEC’s corporate office in Raleigh, NC. Travel, typically by either commercial airline or automobile, is required for at least 25% of this position. Certain objectives require working on-site at various locations, such as properties in CAHEC’s investment portfolio, and some professional training opportunities may also require travel.
Compensation: Commensurate with education, experience, and job performance. The position is classified as an exempt position.
Benefits: Competitive benefits package including company-matched 401(k) plan.
CAHEC is an Equal Opportunity Employer. For more information and how to apply: please visit www.cahec.com.
Must have experience with the LIHTC program
Must have multi-family asset management experience
Must have a minimum of three (3) years relevant multi-family residential real estate experience
Must have a minimum of three (3) years experience conducting physical site inspections
Must have a minimum of three (3) years relevant experience reviewing and interpreting property financial statements
Created in 1992, CAHEC ranks as one of the largest nonprofit regional equity syndicators in the United States. Its territory has moved beyond North Carolina’s borders to encompass the Southeast and mid-Atlantic states, plus the District of Columbia. CAHEC has expanded its core business from an exclusive focus on raising capital for investment in qualified low-income housing tax credit developments to include a variety of tax-credit preservation and revitalization projects. In addition, CAHEC grants capital through its innovative Community Investments to provide residents of CAHEC-sponsored properties with economic, educational, and enrichment opportunities.