Asset Manager, National Trust Community Investment Corporation (NTCIC)
Posted February 26, 2008| Type | Full Time |
| Offered By |
National Trust Community Investment Corp.)
1785 Massachsuetts Avenue, NW Washington , District of Columbia |
| Date Available | |
| Salary | Exempt |
| Deadline | |
| For More Information | 16788-CS-815@nthp.hrmdirect.com |
National Trust Community Investment Corporation ("NTCIC") seeks a Senior Asset Manager to provide professional support in the overall asset management of NTCIC's portfolio of historic tax credit and new markets tax credit equity investments as well as conduit investments from the closing process through the recapture period. The Asset Management function is to monitor all aspects of investments, including compliance with Internal Revenue Code Sections 45D and 47 and real estate operations.
NTCIC, a wholly owned for-profit subsidiary of the National Trust for Historic Preservation, is a national syndicator of federal and state historic tax credits as well as New Markets Tax Credits.
Duties
- Under the direction of the Director of Asset Management manages one or more of NTCIC's portfolios of closed equity investments. Those tasks include:
- Participate in the maintenance of ongoing relationships with the managing member, construction lender, SHPO/Historic Consultant and property management and accounting staff for each project;
- Collect and analyze all required reports for each project, including construction progress and change order reports, draw requests, development sources and uses flow of funds, lease-up reports, monthly, quarterly and annual operating reports, and audited financial reports and tax returns;
- Perform site visits as and review to insure compliance of each project with The Secretary of the Interior's Standards and the terms and conditions of the project operating agreement;
- Monitor the collection of priority return, asset management fee and tax payments required of each project;
- Manage the exit strategy of each project.
- Pro-actively identify potential problems, and develop and implement measures to address such problems, including potential non-compliance and workout situations.
- Direct the post-closing transition of projects in the assignmed portfolios from acquisitions to asset management, including:
- Monitor and follow-up on all post-closing terms and requirements for each project, including outstanding closing items.
- Proactively assist managing member in attaining benchmarks necessary to facilitate additional equity payments, timetables for project completion and tax credit delivery, establishment of reserves, and loan conversion or refinancing requirements;
- Assist in post-closing equity payments working directly with NTCIC's accounting and legal departments
- Supervise the maintenance of the asset management systems, including: files; databases; reports; tickler systems; and electronic integration of asset management systems with closing projections, project-level reporting (including audits and tax returns), and upper tier fund-level reporting (including audits and tax returns) and other systems.
- Proactively assist acquisitions and equity operations staff in evaluating potential investments by analyzing financial, investment and real estate risks associated with the subject market as well as the real estate investment industry
- Responsible for quarterly investor reporting and annual audits and tax returns for assigned portfolios.
- Such other and future duties as assigned.
Qualifications
- 5 years responsible experience in asset management in a real estate development company, community development corporation, real estate banking group, tax credit syndicator, or other real estate or community development institution.
- Bachelor's degree in real estate, finance, business, accounting or related fields. Master's Degree preferred.
- Real estate experience and knowledge, including market analysis, construction and rehabilitation process, property management, financial reporting and analysis, and/or compliance with financing covenants or regulatory agreements.
- Knowledge of New Markets Tax Credit Program preferred.
- Strong analytical skills and attention to detail, including ability to recognize, assess and mitigate risk.
- Proven ability to work collaboratively with other members of a small team in a fast-paced environment.
- Must be a self-starter with strong drive and organizational skills, able to "think and act on one's feet".
- Proficiency in word-processing, spreadsheet, database and presentation software, including Microsoft Excel and Access.
- Strong written and oral presentation skills
- Ability and willingness to travel.
- Experience and technical knowledge of Section 47 (or Section 42), historic certification application process, real estate syndication, and/or community development preferred.
How to Apply
To apply by email, please attach your resume & cover letter as separate Word, Text of PDF documents, and type your cover letter into the body of the email. Include the job title in the subject line.
