Asset Manager - Apollo - San Francisco, Ca
Apollo Equity Partners/RBC Capital Markets (San Francisco, California)

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Requisition Number:  89745

Position Title:  Asset Manager - Apollo - San Francisco, CA

Position Type:  Full-Time

Position Category:  Facilities/Real Estate Operations

Relocation:  No

Job Description: 

Apollo Equity Partners (www.rbccm.com/apollo), part of the Royal Bank of Canada (RBC) family, is a leading national syndicator of State and Federal Low Income Housing Tax Credits (LIHTCs) and Historic Rehabilitation Tax Credits (HRTCs) within the real estate investment banking industry. We are seeking an Asset Manager in our Western Region.

Requirements: 

Candidate should possess a Bachelor's Degree and five years experience in real estate, accounting, finance, or property management. Prior experience as a LIHTC Asset Manager is preferred. Key skills include real estate concepts, financial analysis, and strong organization and prioritization. Proficiency in MS-Office applications and MS-Windows network environment is required.

Key Accountabilities: 

New Acquisitions
- Assist the Developer Relations staff to make the best asset purchases possible by conducting reviews of proposed transactions prior to Asset Manager endorsement.
- Analyze third-party report of market study comparables to confirm the feasibility of the project and the adequacy of operating budgets including rents, expenses, and capital improvements. Verify lease-up and vacancy assumptions for proposed developments are achievable.
- Evaluate proposed property management teams to establish competency dealing with LIHTC compliance, site operations and their ability to report in a timely and accurate fashion.
- Perform a formal Financial Review subsequent to the lower tier closing that would assist in the sale of the asset to the investor market.
Post Closing Operations
- Enhance asset performance through the life of the lower tier partnership through proactive asset management.
- Monitor construction status in conjunction with the third party consultant and the review of the monthly draw package from the General Partner.
- Monitor lease-up status to ensure on-time delivery of first year credits.
- Calculate annual tax credit amount from final cost certification and 8609s and calculate first year credit delivery from actual lease-up figures. Compare the tax credit calculations with original projections and the tax credit guarantees in the partnership agreement.
- Manage the disbursement of equity for construction costs, developer fees, and reserve account fundings. Prepare upward or downward capital adjustments pursuant to the terms of the partnership agreement.
- Provide oversight of project by analyzing performance data on a monthly, quarterly, or annual basis as applicable. Provide technical assistance in the area of project performance and managerial strategy to ensure the continuous flow of tax credit benefits.
- Assess project and partnership risk factors as they pertain to compliance with Section 42 (LIHTC) provisions, terms of partnership agreement, loan documents, LURAs, QAPs, and tax credit application. Oversee compliance reviews and pursue noted deficiencies or 8823 filings.
- Complete annual property inspections or more frequently as needed.
- Expedite the receipt of financial and operational information from the lower tier partnerships on a quarterly and annual basis. Prepare informative narrative investor reports on property performance, problem resolution and workout strategies. Meet with investors as needed to discuss portfolio performance.
- Communicate issues that may place a project at risk to the Manager of Special Assets or Director of Asset Management, and develop an action plan that will help mitigate the risk and protect the investment. Recommend the implementation of strategies to resolve operational, financial, and compliance related difficulties within the portfolio.
- Develop and maintain relationships with General Partners, management agents, lenders, contractors, third-party monitors, investors, local and state housing agencies, and others in the LIHTC industry to ensure the flow of current and relevant information.

Education:  BA/BS

Accreditations: 

Skills: 

Minimum Salary:  Not Available Maximum Salary:  Not Available

We thank all interested candidates however only those selected for an interview will be contacted.

If interested, please apply online at http://track.jobviper.com/ViewJob.asp?id=512593-3-183