Senior Asset Manager

At Madhouse, our people are our greatest differentiator and competitive advantage. We are all united in delivering the best communities possible for our residents. We’re proud to be a close knit team that values integrity, teamwork, and growth. We offer a flexible, fun, and collaborative work environment. As a key member of the Real Estate team, the Senior Asset Manager will report to the President and Vice President to assume a strategic role in the overall performance of the portfolio of multifamily assets.

Primary Responsibilities (include but not limited to)
• Be a key thought leader in evaluating real estate opportunities in the portfolio and through the investment acquisition process.
• Oversight of third-party service providers.
• Reviews and approves property financial statements and property reporting, ensuring deadlines are met in an accurate and timely way.
• Prepares and delivers timely, accurate, and complete reports. Develop and implement strategies for managing real estate assets and independently develop progress reports.
• Reviews and approves annual Operating Budgets and Business Plans for each asset. Ability to provide financial analysis, cash flow projections, and operating budgets for projects.
• Assess and review the capital needs/expenditures by property or understand and project capital needs, as well as reviewing capital expenditure requests by management.
• Monitors specific performance measures on a weekly and monthly basis to analyze historical operating trends for various property types, identifying variances and potential areas of risk associated with the operations of the property; strong understanding of operating proformas. Provides written analysis identifying key trends and issues, noting any corresponding mitigants. Discusses relevant issues and provide remedies.
• May perform risk ratings, create investor reports, and escalate issues accordingly, and manage credit risk and compliance documentation.
• Identifies process improvement opportunities and may create and update policies and procedures as necessary.
• Evaluates real estate assets to identify opportunities within the portfolio to convert underutilized assets to income producing assets, all designed to maximize overall portfolio value both monetarily and intrinsically.
• Assists in disposition and acquisition processes. Coordinate with property management, equity partners, and closing team.
• Assist in punching and turnover of units with construction team and management company and provide suggestions to construction manager on potential areas of concern based on prior projects to improve overall product design.
• Visits all communities within the portfolio on a regular basis to oversee operations, including documentation of necessary action items and follow through.

Knowledge, Skills, and Abilities
• Acts as an expert in each Texas market, with a strong knowledge of competitive communities, the development pipeline and other economic drivers that could impact performance.
• Knowledge of public and private housing finance programs and related compliance requirements, including HUD, HOME, Section 8, IRS Section 42 and other programs.
• Engages in frequent verbal and written communication with internal and external parties which may include, lenders or equity investors and their representatives, outside counsel, agencies, special servicers, and potential investors.
• Working experience with Limited Partnership agreements, loan documents, regulatory agreements, service agreements, or other legal documents relating to conventional and affordable real estate transactions.
• Ability to understand, and to seek explanation of, complex written regulations from various government agencies.
• Strong technical and analytical skills, as well as an understanding of accounting and financial principles.
• Ability to work with large databases and datasets for extraction and conversion into useful business information.
• Organizational skills with the ability to manage multiple projects simultaneously.
• Ability to cope with deadline pressures.
• Highly self-motivated with the ability to work effectively in a fast-paced environment.
• Leadership and excellent verbal, written, and interpersonal communication skills are required to effectively manage complex assets and relationships.
• Ability to interact with all levels of management, work within a casual team environment, and work independently.
• Strong negotiation and presentation skills.
• General understanding of real estate practices.
• Ability to solve unstructured problems.
• Understands the value of team approach and effectively uses teamwork to improve results.
• Proactive, takes initiative, thinks creatively, and drives projects to completion.

Qualifications
• Bachelor's Degree in Business Administration, Accounting, Finance, Economics, Real Estate Development, or related field work experience required.
• 7-10 years of relevant real estate asset management experience proven track record managing a varied portfolio of multi-family communities.
• Minimum 5 years of experience in asset management and/or related LIHTC/affordable experience.
• Excellent working knowledge of software programs Excel and Word; Microsoft Teams, Access, OneSite, and Yardi skills a plus.

Compensation
• $75,000-$125,000 base
• Bonus structure

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SUMMARY
• Hours: Full-time, Regular
• Location: Austin, Texas; Corporate Office
• Work Hours/Week: 40 with Flexible Work Environment
• Employment Type: Permanent
• Required Travel: 30% (2-3 times a month)

WHAT MADHOUSE OFFERS
• 100% Employer Sponsored Health, Dental, and Vision insurance
• Retirement Plan with 3% Company Match
• Paid Time-Of including (8) paid holidays, sick days, and volunteer time off.
• Year-End Bonuses
• Monthly cell phone reimbursement.
• Collaborative, fun, and relaxed environment. Casual dress code most days.
• Employer sponsored opportunities for learning and growth, professional memberships, professional certifications, and CEU’s.
• Bring your pet to work.
• Company Events & Social Activities
• Giving Back to the Community

HOW TO APPLY

• Please send a cover letter and resume.
• Open until filled.

Madhouse is an equal opportunity employer and does not discriminate on the basis of race, color, religion, age, sex, sexual orientation, gender identity, national origin, veteran and disability status, or any other legally protected status.