Director of Asset Management

Job Summary: The Director of Asset Management oversees and safeguards the physical and financial health of the Chinatown CDC property portfolio, consisting of 37 properties and over 3000 units, and ensures that Chinatown CDC’s mission goals for the portfolio are achieved.

Status: Full-time, Exempt, Regular

Location: Chinatown neighborhood, San Francisco

Hours: Monday – Friday, general business hours, some nights and weekend

Salary: $156,337 - $164,565; Comprehensive benefits

The Organization: A private non-profit founded in 1977, Chinatown Community Development Center believes in a comprehensive vision of community. We own and/or manage approximately 30 affordable housing buildings serving over 3,800 low-income seniors, single adults, formerly homeless adults, and families of diverse ethnic and cultural backgrounds in San Francisco’s Chinatown, Tenderloin, Western Addition, and Polk Gulch neighborhoods. We also build housing, develop grassroots leadership, and engage low-income residents and youth. Our employees are passionate about the mission; thrive in a family organizational culture; and embody values of empowerment, teamwork, and compassion. Chinatown CDC serves a diverse population and is committed to hiring practices that provide culturally competent services. We encourage people of color to apply.

General Job Responsibilities:

Oversee and achieve a high standard for the physical health of Chinatown CDC’s properties

Lead Asset Management’s efforts to monitor the physical condition of Chinatown CDC’s properties through project site visits, review of management reports and capital needs assessments

Oversee the development, monitoring and implementation of capital plans and improvements for the portfolio

Work closely with Chinatown CDC and third-party Property Management teams to identify and solve for ongoing physical issues with properties

Oversee and achieve a high standard for the financial health of Chinatown CDC’s real estate portfolio

Establish benchmarks and assess property performance

Provide property portfolio and individual asset analysis recommendations to Executive and Management Teams

Oversee Asset Management’s review of annual operating budgets and financial audits

Identify and prioritize property financial issues

Develop detailed information about watchlist properties and work with CCDC teams to develop and implement workout strategies

Initiate plans for property refinancing and/or rehabilitation as needed to ensure the long-term viability of the properties

Work closely with Chinatown CDC’s Property Management and Compliance team, and third-party Property Managers, to identify and solve for ongoing financial issues with properties

Oversee Owner operations of Chinatown CDC projects and meet owner goals for asset management

Ensure that the AM team adheres to best-in-class practices in their use of monitoring tools and asset management systems, policies, and procedures

Conduct long-term planning for properties, including an annual asset management plan, capital planning, and financial modeling

Work with Compliance and Property Management on rent setting, annual rent increases, subsidy contracts, subsidy increases and subsidy retention

Ensure that the Asset Management team is fulfilling ongoing procedural and compliance requirements and reporting, all on a timely basis

Complete other tasks as necessary to ensure that properties are in compliance with reporting, record-keeping and related requirements

Oversee property and liability insurance, including policy changes and renewals, efforts to reduce premiums, claim management, and risk management

Ensure appropriate and compliant use of sources for financing capital improvements

Partner with Property Operations leadership on property-related risk mitigation, be it financial or reputational

Oversee 3rd party commercial property management, including the successful negotiation and implementation of leases at 46 or more commercial spaces

Work with Housing Development staff to ensure long term sustainability of new acq/rehab and new construction projects

Oversee the review of new partnership agreements, financing documents, and regulatory agreements to determine financing structures and constraints

Plan for and facilitate the buy-out of limited partner interests and negotiate terms and sources of funding

Advise Chinatown CDC leadership regarding third-party Property Management

Assist in the transition (between Housing Development, Property Management, Resident Services and Fiscal) of new development projects coming on-line

Oversee the health and development of the Asset Management Department

Coach, train and oversee the work of asset management staff

Enhance the professional development of asset management staff

Contribute as part of Management Team for the overall health of the organization

Represent the Department to the Board of Directors and Asset Management Committee

Participate in organizational planning as a Director and member of Senior Management Team

Participate in project development feasibility, due diligence, and planning

Represent the organization at external events, tours, public policy activities, industry groups, and neighborhood and community meetings

Establish and maintain relationships with external agencies (e.g. investors, HUD representatives, City and State officials, NeighborWorks, community groups, etc.) in relation to asset management

Knowledge, Skills, and Experience:

Understanding of HUD/LIHTC/affordable housing regulatory agreements, and affordable housing management and development principles

Knowledge of and experience with the tools and resources for recapitalizing portfolio properties

Understanding of fair housing and landlord/tenant laws, regulations, and procedures in San Francisco

Strong analytic ability; numbers and systems oriented

Strong writing skills, and the ability to produce clear and compelling project descriptions and policy analyses

Strong financial, team building, management, and interpersonal skills

Ability to work with people of diverse economic, social, and ethnic backgrounds

Excellent problem-solving skills

Minimum Qualification:

Eight (8) years of experience in asset management with significant experience in the moderate to low-income housing field

Five (5) years supervisory experience

Bachelor's Degree in Economics, Real Estate, Business, Planning, or related field,

and/or equivalent experience

Experience and knowledge of government housing programs and regulatory requirements

Experience with pro formas, PNAs, capital planning, portfolio financial planning, refinancing

Proficiency with computer systems, including word processing and spreadsheet

Experience in and knowledge of Human Resources principles and practices

Common sense and a sense of humor

Preferred Qualifications:

Graduate degree and/or additional asset management experience and real estate

Understanding of fair housing and landlord/tenant laws, regulations, and procedures in San Francisco

Strong experience with MIS, Yardi Systems’ Property and Asset Management software

Familiarity with Chinatown and Tenderloin communities

Training and experience in HUD and Tax Credit programs

California Real Estate Broker’s license

CPM, NAHP, CHAM or other certification related to asset management, housing development, property management

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Full-Time