REQUISITION #: 695746
CAREER AREA: Administration
JOB TYPE: Full Time
POSITION LOCATION: Cleveland Office
ABOUT THE JOB
2014 Pillar Award winner - Multifamily Development Firm of the Year! At NRP Group, we successfully develop, build, own, manage and have partnered in numerous projects in multifamily, senior housing, single-family infill, and commercial and retail sites. From high-density urban infill sites to more suburban settings, our focus is to make every building we develop, construct and/or manage a true reflection of the special needs and desires of our customers and residents, with a commitment to excellence from concept to completion.
We develop, construct, and operate high quality market-rate and affordable rental properties. We are a dynamic and growing company that works in conjunction with many financial institutions, partners, and non-profit organizations to pursue the development and financing of real estate properties. Currently, The NRP Group has assets and operations in Ohio, Texas, North Carolina, Virginia, Florida, Michigan, and Indiana.
We are currently seeking an Asset Manager (Y15) to be responsible for overseeing the financial activities and performance of existing LIHTC properties to include but not limited to overseeing all portfolio investment, operations, and financing.
• Monitor performance of Y15 properties and work with ownership and property management to correctly position property for Y15 transaction
• Prepare and conduct analysis to execute Y15 transactions (purchase of Limited Partner interests), including evaluating tax implications
• Provide support during Y15 negotiations with Limited Partners
• Maximize the value of Y15 properties by developing and executing a strategic transition plan for each Y15 property post Limited Partner exit. This will include working closely with ownership, senior management, construction and property management teams to determine the ideal alternative, including:
o Refinance – work with capital transactions team to identify viable financing alternatives and work with lenders to close transactions
o Resyndication/rehabilitation of property – work with development and construction to evaluate resyndication potential
o Conversion to market rate
o Position property for sale – not likely but possible in unique circumstances
• Conduct property inspections
• Ensure advantageous Y15 terms are included in new partnership agreements by working with project management to review draft agreements
SKILLS & ABILITIES
Education: Bachelor’s degree in Accounting or Finance required; CPA/MBA preferred
• Familiarity with real estate, taxation, the LIHTC program, and other affordable housing programs.
• Skill in financial analysis using MS Excel.
• Knowledge of MS Word and Outlook email.
• Ability to work independently.
• Organizational and time management skills.
• Strong verbal and written communication skills.