DevCo is seeking a full-time Asset Manager to join our team in Bellevue, WA. The role of the Asset Manager includes, but is not limited to, oversee and manage a designated portfolio of affordable multifamily assets to optimize financial and operational performance, manage and maximize portfolio cash flow, ensure compliance with all lenders, investors and government agencies, and manage liability risk. The Asset Manager is the owner’s representative, clear communication and collaboration with teams at all levels is expected in order to successfully implement initiatives, meet established KPIs, and strengthen the value of the company assets.

About the Company
DevCo, Inc. is a privately held real estate investment company, and HNN Communities is a privately held and owner-operated professional management company. With more than 20 years of experience, together we professionally develop, build and own multi-family apartment communities. We understand the importance of quality housing and make it our mission to keep quality our top priority.

Benefits Offered

• Over 90% company paid medical benefits for employee coverage.
• 100% company paid dental and vision benefits for employee coverage.
• Healthcare and dependent care flexible spending accounts.
• Company paid life insurance, AD&D and long-term disability benefits for employee coverage.
• Best-in-class voluntary insurance benefits.
• Pre-tax and Roth 401(k) programs with a company match equal to 100% of the first 4% contributed by the employee.
• Discretionary bonus programs.
• Eligibility for a 20% housing discount consideration after 90 days of hire.
• Employee assistance program (EAP) with 24/7 counseling services.
• Company-sponsored backup childcare.
• Employee discount program through LifeMart.
• Company-sponsored industry training and certifications.
• 3 weeks of paid time off each year.
• Up to 12 paid holidays each year.

Pay Details: $120K-$140K bonus potential

Schedule: Monday-Friday 8am-5pm

Job Responsibilities

• Oversee a portfolio of affordable rental properties. Responsible for management of cash flows, construction of budgets, long term planning and goals of the asset manager’s portfolio properties.
• Independently monitor the activities of property management firms responsible for the daily operations of the properties.
• Coordinate with internal team on issues related to asset management, real estate development and community development. Provide appropriate feedback and reporting to the team.
• Coordinate cross department issues, mutual projects and concerns with other department team members.
• Negotiate agreements or secure bids for approval.
• Review bids presented by property management companies and make recommendations for changes or approval.
• Represent ownership concerns and coordinate with property managers, developers and other team members to ensure that lease-up, marketing and outreach, and maintenance of waiting lists are handled in accordance with the management plan and all regulatory requirements, and that physical plans for construction are reviewed and approved by Asset Management.
• Perform site inspections.
• Identify, evaluate and recommend capital improvement and replacement projects in the asset manager’s portfolio, including potential energy efficiency retrofits.
• Coordinate with property management to update management and marketing plans. Oversee and assist with obtaining lender and partner approvals.
• Responsible for the timely coordination, review and monitoring of reports prepared by property management to ensure conformance to operating budgets, management plans and regulations.
• Review and analyze monthly property financial statements.
• Prepare and present progress reports to the executive management, as requested.
• Work with appropriate stakeholders on strategic financial and management issues.
• Represent the organization to stakeholders, property managers, vendors and residents.
• Create and manage detailed project budgets and completes projects on time and on budget.
• Monitor project expenses, reconciles to financial reports and coordinates all contract payments, lender and funder reporting requirements in a timely manner.
• Manages and coordinates work of project team including architects, contractors, engineers and other consultants, with property managers to ensure adherence to project budget and schedule, cost containment, regulatory compliance and quality control.
• Coordinate with internal departments for marketing and leasing programs for new properties and projects in support of the real estate development plans.
• Monitor project activities regarding quality and cost control issues.
• Arranges and conducts regular site inspections and meetings.
• Resolves related problems and concerns.
• Sees projects through to completion.
• Field resident concerns. Works with property management when necessary, to resolve issues in the best interest of the owner, the property and the resident.
• Maintain knowledge of trends, best practices, and new technologies in the industry.
• Participate in team meetings and work collaboratively with other team members to complete projects as assigned.
• Additional duties as assigned by supervisor.

Knowledge, Skills and Abilities

• Demonstrated capacity to read, analyze and understand complex loan, regulatory and legal documents.
• Proven ability to create and manage project budgets and expenses.
• Proven success at leading teams to achieve defined results.
• Strong analytical, interpersonal, writing and research skills.
• Excellent organizational skills and task oriented.
• Proficient with computers in all aspects with the ability to navigate file structures efficiently.
• Exceptional level of mathematical and analytical reasoning skills.
• Self-motivated, resourceful and proactive.
• Ability to work independently, effectively prioritize, and multi-task under pressure.
• Proficiency in Microsoft Excel required.
• Excellent writer and verbal communicator.
• Strong work ethic, desire to learn and take on responsibility.

Qualifications:

• Four-year bachelor’s degree in business, finance, or related field.
• 5-7 years of applicable industry experience. LIHTC experience a plus.
• Available to travel as needed.
• Must be able to speak, read and write English in a manner sufficient to carry out duties.
• Successful completion of background check and drug screen is required.
• Must be legally qualified to work in the U.S. meeting I-9 guidelines.

Background Policy

Employment is contingent on successfully passing a drug and background screening.

DevCo Management is an Equal Opportunity Employer.