Asset Manager

Department:
Affordable Housing | Equity - Asset Management

We are Walker & Dunlop. We are one of the largest providers of capital to the commercial real estate industry, enabling real estate owners and operators to bring their visions of communities - where people live, work, shop, and play - to life. We are committed to creating meaningful social, environmental, and economic change in our communities.

Department Overview

W&D Affordable Equity (formerly Alliant Capital) is a leading tax credit firm focused on tax credit syndication for the development and financing of affordable multifamily rental housing. As a syndicator of Low-Income Housing Tax Credits (LIHTC), W&D Affordable Equity raises corporate equity and monitors the development, construction, lease-up, and permanent financing phases of its investments. With a dedicated team of experienced real estate, asset management, legal, and tax professionals, we provide the highest level of fully integrated real estate and investment support services.

The Impact You Will Have

As a member of W&D Affordable Equity's Asset Management Department, the position is responsible for maximizing asset values and limiting risk liabilities for the assigned Low Income Housing Tax Credit portfolio. The Asset Manager will manage a portfolio of Affordable Housing developments through the oversight of a third-party management company, site visits, financial review, compliance review, as well as maintaining relationships with developer partners. In addition, the Asset Manager will focus on the review and analysis of property level financial data for their portfolio, including annual operating budgets, quarterly financial statements, residual receipts analysis, year-end audited financial statements, and tax returns. The Asset Manager will also assist the department on special projects related to partnership reporting, strategic workouts and "Year 15" exit strategies. The position requires the ability to apply portfolio analysis and provide in-depth decision-making recommendations to Senior Management.

Primary Responsibilities

• Assist acquisitions in shaping the investing by evaluating projected operating numbers, investments assumptions, structure of the limited partnership agreement, capacity of the sponsor and property management agent, and provide market data/analysis.
• Opine on other deal structuring issues and risk analysis of potential investments.
• Responsible for the financial and operational performance of an assigned multifamily portfolio consisting of Low Income Housing Tax Credit (LIHTC) properties.
• Review monthly financial reports prepared by property management firms to track asset performance; review and evaluate key indicators, such as vacancy, delinquencies and turnover rates, and budget-to-actual variances.
• Monitor property performance through analysis and review of budgets, quarterly reports, annual audits and K-1 returns.
• Monitor the construction, leasing, stabilization, and ongoing management and compliance strategies (including section 42, and state monitoring agency requirements) for the assigned properties.
• Analyze appropriateness and timing of equity installments and equity adjustments/yield maintenance calculations.
• Review equity contribution packages or approve reserve withdrawals on occasion within defined limits.
• Improve the property monitoring and risk management processes including overseeing third party property management companies.
• Monitor tax credit compliance status and triggers in each guaranty (completion, operating, and tax credit delivery) and financial capacity of guarantors.
• Establish and enhance relationships with property management companies, housing associations organization, financial institutions and other relevant companies/individuals.
• Develop and maintain relationships with general partners regarding strategies and specific asset management plans for increasing the value of investments.
• Maintain periodic contact with general partners/sponsors regarding management strategies and specific asset management plans.
• Provide workout and repositioning solution for distressed assets.
• Handle refinancing, acquisitions, and dispositions for partner interest and properties.
• Provide reports and conduct presentations for investors and clients.
• Evaluate economic and demographic trends in multifamily markets and apply them to investments in the portfolio.
• Oversee regulatory compliance in accordance with loan documentation.
• Coordinate asset management functions through periodic site/sponsor visits, investment reviews, financial analysis, property analysis and portfolio analysis.
• Perform surplus cash calculations and coordinate receipt of fees and cash flow sharing.
• Maintain database completeness and integrity.
• Other job duties or special projects as needed or assigned.
• Attendance is generally 8:30 am - 5:30 pm local time Monday through Friday with the ability to work up to 2 of those days remotely

Education and Experience

• Bachelor's degree in business administration, finance, economics, accounting, or equivalent experience. Graduate degree preferred.
• 3+ years of experience in affordable housing development and management programs, including the Low Income Housing Tax Credit Program. Previous experience in real estate, operations and analysis, budgeting, financial reporting, and general accounting.
• Workout experience preferred.

Knowledge, Skills and Abilities

• Knowledge of affordable housing development and management programs, especially the Low Income Housing Tax Credit program (asset management of real estate investment portfolios).
• Strong written and verbal communication/presentation, interpersonal, organizational, effective negotiation skills.
• Creative problem-solving, analytical capabilities, and knowledge of accounting principles, statistics and ability to interpret financial statements, underwriting.
• Strong multi-tasking skills.
• Portfolio and investment underwriting, financial and sensitivity analysis, cash flow sharing, yield maintenance calculations, monitoring equity installments and adjustments, IRR, XIRR, NPV, NOI, Cap rate, DSCR.
• Capable of presenting to Senior Management, Team Leaders and working within an overall asset management group.
• Experience with Access, Filemaker, PowerPoint and Crystal Reports highly desirable.

This position has an estimated base salary of $76,000 - $95,000 plus a discretionary bonus. An employment offer is based on the applicant's relevant work experience, applicable knowledge, skills, abilities, internal equity, and alignment with market data.

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What We Offer

• The opportunity to join one of Fortune Magazine's Great Places to Work winners from 2015-2023
• Comprehensive benefit options* that have earned Walker & Dunlop the silver level of the 2022 Cigna Healthy Workforce Designation, some of which include:
  - Up to 83% subsidized medical payroll deductions
  - Competitive dental and vision benefits
  - 401(k) + match
  - Pre-tax transit and commuting benefits
  - A robust health and wellness program - earn cash rewards and gain access to resources that
  promote health, engagement, and balance
  - Paid maternity and parental leave, as well as other family paid leave programs
  - Company-paid life, short and long-term disability insurance
  - Health Savings Account and Healthcare and Dependent Care Flexible Spending
• Career development opportunities
• Empowerment and encouragement to give back - volunteer hours and donation matching

*Eligibility may vary based on average number of hours worked

EEO Statement

We are committed to equity in all steps of the recruitment and employment experience. We believe in equal access to opportunities in our workplace. We do not tolerate discrimination, including harassment, based on any characteristic protected by applicable law, such as race, color, national origin, religion, gender identity, sexual orientation, sex, age, disability, veteran or military status, and genetic information. We strive to be a safe place to ask questions, build professional relationships, and develop careers.

SPAM
Please be wary of recruitment scams. An indication of a scam might be a request for sensitive or bank information at the time of application or emails coming from a non walkerdunlop.com email address. Please call us at 301.215.5500, if you have any concerns about information requested during or after the application process.

Fair Chance Hiring

Background checks, including any questions related to infractions, arrests, or conviction records, will not be conducted until after a conditional offer of employment has been accepted. We will consider for employment qualified applicants regardless of arrest and conviction records, in accordance with federal, state, and local laws.