Asset Manager (Affordable)
Fully Remote Bethesda, MD Asset Management
Job Type
Full-time
Description

The Asset Manager must have Affordable expertise  with stabilized and non stabilized assets. Is responsible for assisting in implementing strategies that will maximize the financial performance and value of the portfolio. The Asset Manager will also be responsible for assisting in monitoring the physical and financial condition of all Fairstead’s owned assets. The Asset Manager reports to the Senior Director of Affordable Asset Management.

  • Responsible for analyzing and measuring property financial and operating metrics and devising action plans to improve performance
  • Work closely with affiliated management company to devise and carry-out property strategies and business plans for each property
  • Work with internal teams during the rehab phase of development with an eye towards stabilization and stabilized operations
  • Generation of watch list reporting
  • Oversight of property annual budget production, review and sign off
  • Assist in the monitoring of the physical condition of the portfolio through periodic site visits
  • Interface with lenders/investors, as necessary, on questions related to property performance
  • Work with Data Analytics team to ensure automation of processes
  • Assist with preparation of transactional due diligence materials
  • Assist with making and implementing recommendations for refinancing, disposition or other capital events to achieve determined financial milestones or outcomes
  • Read and interpret agreements, loan documents and other compliance related documents
  • Understand and analyze investment models and forecasts
  • Cash flow forecasting
  • Special Projects as required
Requirements
  • Working knowledge in Affordable Asset Management proven work experience working in Project Based Section 8 Housing
  • Bachelor’s degree in accounting, finance or real estate required
  • 3-5 years multifamily real estate/financial analysis experience; Affordable Housing sector experience highly desirable
  • Knowledge and experience with the Low-Income Housing Tax Credit Program gained from asset management, operations or development work experience a plus
  • Yardi experience 
  • Ability to learn quickly and desire to constantly learn about the complexities of the affordable housing business
  • Ability to multi-task and run projects simultaneously
  • Ability to travel
  • Proven professional communication abilities to interface with a broad array of employees and housing partners

Fairstead is a vertically integrated real estate company specializing in affordable and mixed-income housing. Since 2014, Fairstead has acquired and/or developed more than $7.8 Billion of multifamily property across the country, and today owns a portfolio of 24,000 apartments in 28 states. The company’s comprehensive platform provides hands-on expertise across all multifamily disciplines, including acquisitions, development, design and construction, energy and sustainability, property management and social services. Fairstead’s primary mission is to provide high quality housing to all regardless of income, and to make our stakeholders feel “Right at Home.” We accomplish this through an empathetic and innovative approach, and by utilizing our interdisciplinary platform as an investor, developer, owner, and operator. Fairstead provides hands-on expertise across all multifamily disciplines, including acquisitions, development, design, construction, energy, sustainability, property management and social services. With a long-term commitment to its residents, communities, and partners, the Fairstead team stands out by:

  • Listening to and understanding the needs of its residents, communities, partners, and stakeholders alike
  • Developing and preserving high quality affordable housing in an innovative and sustainable fashion
  • Creating a positive social and environmental impact within the properties and communities it serves

Fairstead’s Core Values

  • Empathy
  • Innovation
  • Entrepreneurship
  • Determination
  • Integrity