Director of Asset Management

Company: Chinatown Community Development Center
Location: San Francisco
Posted on: May 3, 2025

Job Description:

Job Summary: The Director of Asset Management oversees and safeguards the physical and financial health of the Chinatown CDC property portfolio, consisting of 37 properties and over 3000 units, and ensures that Chinatown CDCs mission goals for the portfolio are achieved.Status: Full-time, Exempt, RegularLocation: Chinatown neighborhood, San FranciscoHours: Monday Friday, general business hours, some nights and weekendSalary: $156,337 - $164,565; Comprehensive benefitsThe Organization: A private non-profit founded in 1977, Chinatown Community Development Center believes in a comprehensive vision of community. We own and/or manage approximately 30 affordable housing buildings serving over 3,800 low-income seniors, single adults, formerly homeless adults, and families of diverse ethnic and cultural backgrounds in San Franciscos Chinatown, Tenderloin, Western Addition, and Polk Gulch neighborhoods. We also build housing, develop grassroots leadership, and engage low-income residents and youth. Our employees are passionate about the mission; thrive in a family organizational culture; and embody values of empowerment, teamwork, and compassion. Chinatown CDC serves a diverse population and is committed to hiring practices that provide culturally competent services. We encourage people of color to apply.General Job Responsibilities:Oversee and achieve a high standard for the physical health of Chinatown CDCs propertiesLead Asset Managements efforts to monitor the physical condition of Chinatown CDCs properties through project site visits, review of management reports and capital needs assessmentsOversee the development, monitoring and implementation of capital plans and improvements for the portfolioWork closely with Chinatown CDC and third-party Property Management teams to identify and solve for ongoing physical issues with propertiesOversee and achieve a high standard for the financial health of Chinatown CDCs real estate portfolioEstablish benchmarks and assess property performanceProvide property portfolio and individual asset analysis recommendations to Executive and Management TeamsOversee Asset Managements review of annual operating budgets and financial auditsIdentify and prioritize property financial issuesDevelop detailed information about watchlist properties and work with CCDC teams to develop and implement workout strategiesInitiate plans for property refinancing and/or rehabilitation as needed to ensure the long-term viability of the propertiesWork closely with Chinatown CDCs Property Management and Compliance team, and third-party Property Managers, to identify and solve for ongoing financial issues with propertiesOversee Owner operations of Chinatown CDC projects and meet owner goals for asset managementEnsure that the AM team adheres to best-in-class practices in their use of monitoring tools and asset management systems, policies, and proceduresConduct long-term planning for properties, including an annual asset management plan, capital planning, and financial modelingWork with Compliance and Property Management on rent setting, annual rent increases, subsidy contracts, subsidy increases and subsidy retentionEnsure that the Asset Management team is fulfilling ongoing procedural and compliance requirements and reporting, all on a timely basisComplete other tasks as necessary to ensure that properties are in compliance with reporting, record-keeping and related requirementsOversee property and liability insurance, including policy changes and renewals, efforts to reduce premiums, claim management, and risk managementEnsure appropriate and compliant use of sources for financing capital improvementsPartner with Property Operations leadership on property-related risk mitigation, be it financial or reputationalOversee 3rd party commercial property management, including the successful negotiation and implementation of leases at 46 or more commercial spacesWork with Housing Development staff to ensure long term sustainability of new acq/rehab and new construction projectsOversee the review of new partnership agreements, financing documents, and regulatory agreements to determine financing structures and constraintsPlan for and facilitate the buy-out of limited partner interests and negotiate terms and sources of fundingAdvise Chinatown CDC leadership regarding third-party Property ManagementAssist in the transition (between Housing Development, Property Management, Resident Services and Fiscal) of new development projects coming on-lineOversee the health and development of the Asset Management DepartmentCoach, train and oversee the work of asset management staffEnhance the professional development of asset management staffContribute as part of Management Team for the overall health of the organizationRepresent the Department to the Board of Directors and Asset Management CommitteeParticipate in organizational planning as a Director and member of Senior Management TeamParticipate in project development feasibility, due diligence, and planningRepresent the organization at external events, tours, public policy activities, industry groups, and neighborhood and community meetingsEstablish and maintain relationships with external agencies (e.g. investors, HUD representatives, City and State officials, NeighborWorks, community groups, etc.) in relation to asset managementKnowledge, Skills, and Experience:Understanding of HUD/LIHTC/affordable housing regulatory agreements, and affordable housing management and development principlesKnowledge of and experience with the tools and resources for recapitalizing portfolio propertiesUnderstanding of fair housing and landlord/tenant laws, regulations, and procedures in San FranciscoStrong analytic ability; numbers and systems orientedStrong writing skills, and the ability to produce clear and compelling project descriptions and policy analysesStrong financial, team building, management, and interpersonal skillsAbility to work with people of diverse economic, social, and ethnic backgroundsExcellent problem-solving skillsMinimum Qualification:Eight (8) years of experience in asset management with significant experience in the moderate to low-income housing fieldFive (5) years supervisory experienceBachelor's Degree in Economics, Real Estate, Business, Planning, or related field,and/or equivalent experienceExperience and knowledge of government housing programs and regulatory requirementsExperience with pro formas, PNAs, capital planning, portfolio financial planning, refinancingProficiency with computer systems, including word processing and spreadsheetExperience in and knowledge of Human Resources principles and practicesCommon sense and a sense of humorPreferred Qualifications:Graduate degree and/or additional asset management experience and real estateUnderstanding of fair housing and landlord/tenant laws, regulations, and procedures in San FranciscoStrong experience with MIS, Yardi Systems Property and Asset Management softwareFamiliarity with Chinatown and Tenderloin communitiesTraining and experience in HUD and Tax Credit programsCalifornia Real Estate Brokers licenseCPM, NAHP, CHAM or other certification related to asset management, housing development, property managementQAtbNSeZUHby Jobble

Keywords: Chinatown Community Development Center, Modesto , Director of Asset Management, Executive , San Francisco, California