Asset Manager, Transactions
Company: Enterprise Community Partners
Location: Los Angeles
Posted on: October 23, 2024
Job Description:
Enterprise is a national nonprofit that exists to make a good
home possible for the millions of families without one. We support
community development organizations on the ground, aggregate and
invest capital for impact, advance housing policy at every level of
government, and build and manage communities ourselves. Since 1982,
we have invested $72 billion and created 1 million homes across all
50 states, the District of Columbia, Puerto Rico and the U.S.
Virgin Islands - all to make home and community places of pride,
power and belonging.Join us at enterprisecommunity.orgWorking at
EnterpriseAt Enterprise, you'll be part of a diverse, committed
team making a difference every day. You will collaborate with some
of the smartest minds and biggest hearts in our field. You'll be
empowered to drive systems change and take bold steps to advance
racial equity. And you will find a career home where you're valued
and supported in your growth journey.Enterprise offers career
opportunities in our with an.Job Description SummaryThe Asset
Manager, Transactions position exists to support the execution of
transactions critical to the overall performance of the growing
Real Estate Equity (REE) portfolio. This position will be a
critical part of the REE Asset Management team, providing in-depth
post-closing analysis required to execute on property level
refinancings, partnership restructures, follow-on investments,
dispositions and other aspects of investment analysis and
forecasting. The Asset Manager, Transactions will also manage the
lower tier quarter cash distribution process, and work closely with
the Vice President, Asset Management & Investor Relations and the
rest of the Asset Management team to leverage and improve existing
resources in support of transactions and portfolio analysis and
will also be assigned special projects on an as needed basis. This
position will work with external and internal customers and must
have strong analytical, problem-solving, organizational and
communication skills.Job DescriptionResponsibilities:
- Refinancings - Review and evaluate refinance opportunities by
modeling various options presented and identifying opportunities
where refinancing should be considered, working closely with the
REE Asset Manager and Sponsor to ensure accuracy of information and
alignment with underwriting. Provide recommendations and manage
internal refinance process through closing.
- Restructures & Follow-on Investments - Review property
operational trends, working closely with REE Asset Manager and
Sponsor to ensure accuracy of information and requesting any
additional reporting necessary (e.g., cash collection reporting) in
order to reproject future operations based on informed and
recommended assumptions. Provide internal recommendations and
facilitate all aspects of restructure and/or follow-on investment
through closing.
- Dispositions - Review and evaluate disposition opportunities by
modeling various options presented, including hold/sell analysis,
review and comparison of Sponsor and broker underwriting, working
closely with the REE Asset Manager and Sponsor to ensure accuracy
of information. Review joint venture LPAs to confirm Right of First
Refusal, Put/Sale options, disposition proceeds waterfalls and
other applicable provisions. Provide internal recommendations and
manage internal disposition process through closing.
- Lower Tier Cash Distributions - Provide a leadership role
managing the quarterly cash distribution process, including leading
the communication with Sponsors each quarter, tracking the receipt
of cash available for distribution calculations, reviewing those
calculations for accuracy, updating Enterprise's lower tier
transaction models, providing feedback and recommendations to
Senior Management and the REE Asset Manager for discussion to
determine if the distribution can be approved or if more
information is required of the Sponsor or if Enterprise has further
recommendations. See the process through ultimate approval of each
lower tier distribution receipt of funds.
- Assist in the preparation and assessment of REE's annual
property valuations to support strategic decision making, investor
reporting and evaluate REE's equity and financing exposure across
REE's portfolio and potential property disposition
opportunities.
- Track Real Estate Tax and Insurance cost / trends across
portfolio by researching, updating and maintaining Real Estate Tax
Analysis files and Insurance Renewal Cost files, providing ongoing
conclusions and recommendations to Senior Management.
- Manage annual Affordability Summaries by updating annually with
AMIs and UAs, distributing to Sponsors seeing through to
completion, and compiling the data for annual reporting
purposes.
- Participate in and contribute to group meetings and
discussions.
- Perform special projects and other duties as
assigned.Qualifications:
- Bachelor's degree or equivalent required, preferably in
Business Management, Accounting, Finance or related field. Master's
degree in real estate, MBA or CPA preferred.
- 5-7+ years multi-family real estate, finance, accounting,
and/or asset management experience.
- Strong analytical skills. Ability to read, interpret, and
analyze financial statements. Ability to develop and perform
financial projections, forecasts and stress analyses.
- Ability to read, interpret, and analyze complex real estate
project documentation including partnership agreements, regulatory
agreements, and loan documents.
- Sound understanding of real estate terminology and concepts,
including multi-family real estate; working knowledge of LIHTC
required.
- Familiarity with private financing and government funding
sources.
- Strong organizational skills and ability to coordinate complex
activities, prioritize conflicting demands and meet deadlines.
- Strong verbal communication and business writing skills.
- Ability to work independently with limited supervision.
- Strong computer skills with excellent MS Excel skills.
- Must possess strong written and oral communication skills.
- Highly motivated and able to work independently.
- Must demonstrate strong ethics in interpersonal relations and
work as an effective, collaborative team member to produce
high-quality results.
- Able to travel as necessary to accomplish the goals for the
position.Total Rewards at Enterprise:You will be working with a
group of talented professionals who are motivated by serving the
community and addressing the need for affordable housing.Enterprise
offers a comprehensive total rewards package for you and your
family.The base salary for this role is $110,000 to $125,000,
depending on level of skills and experience.The salary range for
this position is represented by the low and high end of the range
for the amount to be paid for the position. Salaries paid at
Enterprise will vary based on factors that may include skills,
education, location, experience, and performance. The salary range
is just a part of the total rewards package provided to employees
at Enterprise, and other rewards may include annual performance
bonuses and generous paid leave programs.At Enterprise, our
benefits form a major component of our total rewards package.
Benefits include dental, health, and vision care plans, as well as
family-building benefits, such as fertility, adoption, surrogacy
support, and gender-affirming care. Enterprise allows flexible work
arrangements to promote a better work-life balance. We offer health
advocacy, EAP, and mental health benefits. We round out our total
rewards package by offering financial education, wellness programs,
and auto-enrollment in the company's 401(k) plan with employer
matching contributions. Finally, you will have learning and
development opportunities, including tuition reimbursement for
job-related courses and certifications. Thank you for your interest
in joining the Enterprise team in our effort and commitment to
serve others.#LI-JW1 #ID
Keywords: Enterprise Community Partners, Huntington Park , Asset Manager, Transactions, Executive , Los Angeles, California
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