AVP, Asset Management
Assistant Vice President, Asset Management
Position Summary
The Assistant Vice President of Asset Management provides strategic, financial, and operational oversight across a mid‑to‑large portfolio of affordable housing and multifamily assets. This role operates with an institutional, owner‑oriented mindset, ensuring assets perform in line with underwriting, investor expectations, and long‑term portfolio strategy. The AVP leads asset management staff and partners closely with Property Management, Capital Markets, Development, and Compliance.
Key Responsibilities
- Serve as the lead owner's representative, safeguarding asset value and ensuring performance against occupancy, revenue, expense, and NOI targets.
- Lead, mentor, and manage Asset Management Associates and Analysts; review deliverables and enforce reporting and performance standards.
- Oversee annual operating budgets and ongoing variance analysis; implement corrective actions where performance deviates from plan.
- Monitor portfolio KPIs, identifying opportunities to optimize operations, control expenses, and enhance NOI.
- Develop and manage Annual Asset Plans covering performance goals, capital priorities, leasing strategies, compliance requirements, and hold/sell positioning.
- Prepare concise, investor‑ready reporting packages and portfolio performance summaries.
- Oversee annual capital planning and execution, ensuring projects are properly scoped, prioritized, and delivered on time and within budget.
- Partner with Compliance to maintain regulatory standing, including LIHTC and project‑based assistance programs.
- Develop action plans for underperforming assets, including operational improvements, capital investment, or repositioning strategies.
- Support refinancing, recapitalization, acquisition, and disposition efforts in coordination with Capital Markets and Portfolio Management.
Qualifications
- Bachelor's degree in Real Estate, Finance, Business, or related field; Master's preferred.
- 7-10+ years of asset management experience in affordable housing, multifamily, or institutional real estate.
- Advanced Excel skills including financial modeling, budgets, variance analysis, and portfolio rollups.
- Strong understanding of operating statements, cash flows, capital plans, and investment returns.
- Deep working knowledge of LIHTC structures and compliance.
- Experience overseeing third‑party property management with performance accountability.
- Familiarity with institutional ownership structures, investor reporting, and real estate transactions.
- Excellent written and verbal communication skills with experience producing executive‑level deliverables.
FAQs
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