Position Announcement: Real Estate Asset Manager/Affordable Housing Real Estate Development Located in:
Raleigh, North Carolina About DHIC: Established in 1974, DHIC, Inc.
is the Research Triangle area's leader in affordable housing development, maintaining an emphasis on innovation, quality, attractive design, and green features at our properties.
DHIC has constructed, acquired and/or rehabilitated 2,200 affordable rental units in 37 different locations in eight counties in North Carolina, and has built more than 350 new homes for first time homebuyers in Wake County.
Together, these projects leveraged $245 million in direct investment from both the private and public sectors.
In addition to numerous design, community service, and management recognitions we have received, DHIC is consistently rated as an Exemplary member of the NeighborWorks America national network of non-profit community developers.
DHIC is also a member of the Housing Partnership Network.
DHIC is governed by a 15-person Board of Directors, with an 18.5 FTE-member staff and an operating budget of $3.1 million.
The work of DHIC is funded through earned income and public and private support.
To learn more, visit DHICs website at The Opportunity and Nature of Work:
The Asset Manager is responsible for the long-term viability of properties owned and operated by DHIC and its affiliates.
This individual reports to the Director of Asset Management and works directly with the property management companies of DHIC to ensure the efficient management of the operations of the properties.
The Asset Manager is also responsible for external relationships on behalf of the organization and represents the owner/managing member in communications regarding the management or operation of the properties.
The Asset Manager is expected to maintain regular hours at the DHIC administrative office in Downtown Raleigh.
Periodically, this person is expected to conduct periodic site visits and attend various off-site meetings.
Working from home may be needed occasionally, depending on weather, health situations and critical deadlines.
The Asset Manager will join a team of competent, committed, and high-producing professionals.
The successful candidate will be a self-starting professional who is excited by DHICs mission.
Key responsibilities of the Asset Manager include (but at any given time may not be limited to): Portfolio and Operations Management Provide direct oversight of property management companies and DHICs portfolio, including:
Oversee the activities of the property management companies.
Coordinate the budget process and provide approvals.
Provide approvals for capital work and reserve withdrawals.
Conduct physical condition inspections and administer property management meetings.
Provide guidance on operations strategies and programs.
Establish cost control measures to maximize operating efficiency and recommend value-add opportunities to enhance property financial and physical conditions.
Ensure the safeguard of the assets through loan covenant compliance, coordination of loss prevention/insurance programs, long range financial planning, and evaluation of the impact of changes in affordable housing programs and regulations affecting the portfolio.
Coordinate with investor/partners and property management for all partner reviews of projects and programs.
Work with the CFO and Director of Asset Management to implement all risk management/insurance programs and monitoring of these programs.
Maintain asset management watch lists and present findings to Management Team quarterly, or as needed.
Monitor progress toward overall objectives and adjust plans as necessary to accomplish them.
Ensure compliance with EEOC, Fair Housing, subsidy and tax credit compliance and adherence to any other applicable laws.
Resource Development and Financial Management Work closely with the Resident Service Team to ensure tenant programs are budgeted for and that property management is assisting as needed; provide assistance and guidance for the recent requirement of NC Housing Finance Agency (NCHFA) to house persons with disabilities moving out of adult care homes and other situations (Olmstead settlement). Coordinate Real Estate Tax Exemption Applications, Revaluation Applications and all activity related to Real Taxes of the portfolio.
Periodically assist the Management Team to complete grant applications for existing projects and programs; research and assist in identifying project opportunities and funding sources.
Assist the Management Team with NCHFA tax credit applications as needed.
Prepare statistics on property financials and budgets; reports on progress of projects to management.
Monitor the economic performance of each property by evaluating market conditions and overseeing marketing strategies; evaluate risk factors as related to market conditions.
Regularly monitor the property financials against budget; maintain a working knowledge of variances and provide explanation to management, investors and other partners.
Skills, Qualifications, and Attributes of the Project Manager The Asset Manager must demonstrate a firm commitment to and passion for DHICs mission and vision.
In addition, the individual should possess the following attributes, skills, and qualifications: Bachelors degree in a related field (required). Masters degree or graduate-level training in planning, real estate, or related field preferred.
Commitment to and experience in community development and working in multi-cultural organizations and communities.
Experience in real estate management and real estate finance (required). Familiarity with activities, programs and mission of community development corporations.
Knowledge of the agencies and institutions involved in community development in Wake County and North Carolina.
Excellent grasp of real estate development, finance and accounting systems procedures.
Knowledge of and experience with Low Income Housing Tax Credit program (required) and various subsidy programs.
Knowledge of EEOC, OSHA and Fair Housing regulations.
Knowledge of risk management techniques and insurance programs.
Project management experience is desired.
Intermediate to advanced MS Excel skills; strong computer skills.
Proven ability to express thoughts, perceptions and ideas clearly and concisely, both orally and in writing.
Proven ability to elicit and support enthusiasm, commitment, and productive behavior from others to accomplish specific results through their efforts.
Proven ability to anticipate, identify, and analyze problems and opportunities, establish priorities, and efficiently allocate resources.
Proven ability to manage and coordinate the work required to meet overall objectives within specified time and budget.
Proven ability to maintain the flexibility necessary to adapt, respond, and meet the needs of the organization.
Demonstrated ability to review and measure progress against specific criteria and to take necessary corrective action.
Valid drivers license and reliable transportation.
Application Process Armstrong McGuire & Associates, based in Raleigh, NC, is conducting this search in partnership with DHICs senior leadership team.
To apply, click on the link to the DHIC Real Estate Asset Manager position profile at ArmstrongMcGuire.com/apply.
You will see instructions for uploading a cover letter, resume, salary requirements, and professional references.
Please provide all requested information to be considered; failure to do so will remove you from the process.
In case of any technical problems, contact . No phone calls, please, and no applications will be accepted by email or directly from third-party posting sites.
Salary is commensurate with the requirements of the position.
Benefits include medical, dental, vision, life, and long-term disability insurance; flexible spending plan/health savings account/health reimbursement account; 403(b) retirement plan; accrued vacation and sick time; 11 paid holidays; sabbatical leave (after 5 years full-time employment); and training and continuing education.
DHIC actively seeks a diverse pool of candidates.
DHIC is committed to a policy of equal employment opportunity without regard to race, color, national origin, religion, disability, gender, gender identity, sexual orientation, or age.
Dhic Raleigh, NC