Internal ID: 1703219
Multifamily Property Asset Manager- Low Income Housing (LIHTC) Department: Raymond James Tax Credit Funds Location: Raymond James Financial, Corporate Headquarters: St. Petersburg, FL
Job Summary & Responsibilities: The #1 For-Profit Syndicator in the Low Income Housing Tax Credit Funds (LIHTC) industry, is hiring an experienced Property Asset Manager to manage a portfolio of multifamily real estate partnerships to preserve the value of Investor Equity and the stream of benefits associated with that Investment. For more information about Raymond James Tax Credit Funds, please visit:
https://www.raymondjames.com/corporations-and-institutions/additional-institutional-services/tax-credit-funds Our ideal team member will:
- Monitor Low Income Housing Tax Credit (LIHTC) compliance and property management activities.
- Consult on property operations with a view to protect and insure the long term viability of portfolio assets.
- Have first-hand experience managing a high volume of multifamily properties in the low income housing market, and have proven working knowledge of the full-cycle of LIHTC syndication, from fund acquisition through preservation.
Travel: Approximately 60%. Must have a valid drivers’ license and be eligible for coverage under the firm’s Vehicle Fleet Safety Policy to drive on company business.
Essential Duties & Responsibilities:
- Oversees the investment properties that are directly assigned to their portfolio.
- Performs site visits to observe the physical conditions and management practices of LIHTC properties.
- Review and monitor quarterly operational reports and evaluate Partnership performance through pre-established standards and key indicators.
- Develops and maintains relationships with general partners/ developers, lenders, state agencies, and managing agents
- Exhibits market and investment knowledge when interacting with partners and investors.
- Provides support and analysis to general partners and management companies with the goal of increasing profitability and reducing risk.
- Provides advisory and support to facilitate the improvement and expansion of new business.
- Identify partnerships that require Watchlist status and develop strategies to address all issues.
- Maintains a thorough and current record of property activity in our proprietary database.
- Prepares investor and developer reports as necessary.
- Participate in and leads efforts relative to team initiatives
- Performs other duties and responsibilities as assigned.
Knowledge, Skills, and Abilities: Knowledge of:
- Institutional asset management, LIHTC preferred.
- Advanced concepts, principles and practices of multi-family real estate/housing operations, including property inspections, property management, property maintenance, and compliance.
- Advanced concepts, principles and practices of LIHTC and compliance, preferred.
- Advanced knowledge of real estate finance.
- Knowledge of institutional investment strategies and partnership structures
- Accounting principles.
- Strong analytical skills & financial acumen Use of Asset Management system / database
- Excellent organizational and communication skills
- Document Management technology.
- Identifying the needs of customers through effective questioning and listening techniques.
- Detail orientation to ensure quality standards are met without impairing workflow.
- Communicating both orally and written.
- Follow-up to ensure resolution and completion of tasks.
- Demonstrating sensitivity to customer needs (both internal and external) and proactively address customer needs.
- Operating standard office equipment and using required software applications to produce correspondence, reports, electronic communication and spreadsheets.
- Communicate complex issues to others with a varied understanding of the subject matter.
- Interpret and apply policies and identify and recommend changes as appropriate.
- Organize, manage and track multiple detailed tasks and assignments with frequently changing priorities in a fast-paced work environment; and maintain accuracy on completed work.
- Proactively demonstrate readiness and ability to initiate action.
- Work independently as well as collaboratively within a team environment.
- Identify required tasks, develop timelines and execute.
- Establish and maintain effective working relationships at all levels of the organization, including negotiating resources.
- Project a positive, professional image both internal and with external business contacts.
- Convey information clearly and effectively through both formal and informal documents.
- Identify relationships, draw logical conclusions and interpret results for use in decision making.
Educational/Previous Experience Requirements: Bachelor’s Degree (B.A.) in related field and a minimum of three (3) years of relevant real estate experience including physical property site inspections and interpreting financial statements. MBS or MRE preferred. ~or~ Any equivalent combination of experience, education, and/or training approved by Human Resources. Licenses/Certifications: Tax Credit Certification from a recognized agency, or ability to obtain in 6 months. About Raymond James Tax Credit Funds: Raymond James Tax Credit Funds is a leading provider of high-quality affordable housing developments throughout the nation. Since the tax credit program began in 1986, we have raised more than $7 billion in equity for more than 1,800 properties throughout the United States. Each of our funds has been successful in delivering its projected tax benefits. Furthermore, RJTCF has never had a credit recapture to date. Our portfolio boasts an average occupancy of nearly 95%, and our ratio of underperforming assets is about half that of the industry averages.* Our focus on the quality of our development partners, specific market expertise and comprehensive due diligence have earned us recognition as a leader in the affordable housing industry. At Raymond James, Service 1stSMis our commitment – our clients come first, and we will provide the highest level of service with integrity. This approach has allowed RJTCF to retain our development partners and maintain a stable group of investors that have partnered with RJTCF year after year. *From Ernst & Young’s Understanding the Dynamics V: Housing Tax Credit Performance and 2007/2008 sampling data. Service 1stSMis a service mark of Raymond James Financial, Inc.
JobInvestment ManagementPrimary LocationUS-FL-St. Petersburg-Saint PetersburgOrganizationRJ Tax Credit FundsScheduleFull-timeShiftDay JobTravelYes, 50 % of the Time