Asset Manager

Title - Asset Manager

Company - Affordable Equity Partners, Inc, a subsidiary of JES Holdings, LLC

Location - Atlanta, GA

Schedule - In office Monday - Thursday and ability to travel about 10%.

Affordable Equity Partners, Inc. (AEP) provides a full range of investment banking services for those seeking to finance, build, purchase or rehabilitate multi-family housing. Since 1997, AEP has invested in nearly 27,000 homes in 500 communities. We serve the growing need for affordable housing across 16 states in 250 cities. We have successfully syndicated over $4 billion in tax credits to build or preserve homes for working class families and seniors.

 

POSITION SUMMARY 

The Operating Property Asset Manager (OPAM) at Affordable Equity Properties (AEP) is responsible for the day-to-day oversight and performance of a portfolio of stabilized LIHTC (Low-Income Housing Tax Credit) properties. This role is pivotal in ensuring asset value, compliance, and operational excellence across the assigned portfolio. 

Key Responsibilities: 

• Owns monthly and quarterly property performance, including P&L review, occupancy, rent variance, and utility trends.
• Develops and implements action plans to address variances and ensure properties meet or exceed underwritten expectations.

• Maintains LIHTC compliance in partnership with the Compliance team, ensuring annual recertifications and adherence to regulatory requirements.
• Manages responses to Housing Finance Agency (HFA) 8823 reports and coordinates with Legal and Compliance for timely cures.
• Prepares quarterly investor commentary and ad-hoc updates.

• Updates AHIC Operating Property Risk Ratings in MRI software, ensuring a clean audit trail for inspections, reserve draws, and capital projects.

• Manages reserve draw requests, validates eligibility, and oversees capital projects from scoping to completion.
• Ensures timely and on-budget delivery of capital initiatives and closure of third-party inspection findings.

• Directs leasing and marketing strategies to maximize revenue and occupancy.
• Approves marketing expenditures and works with property management on resident retention and lease enforcement.

• Supports refinancing and disposition efforts by providing accurate operating histories, capital projections, and compliance documentation.

• Champions process improvement and the adoption of AI/automation tools to enhance reporting, compliance, and portfolio monitoring.

                   Ensures smooth asset transitions from Development Asset Management and maintains responsive                     communication with internal and external stakeholders.

Performance Measures (KPIs)