Preservation Portfolio Manager, Affordable Housing Investments

Job Summary:

As a Portfolio Manager, the individual oversees a portfolio of multi-housing funds and asset managers with autonomy, drawing upon education and practical experience. This role involves analyzing each fund’s performance as compared to underwritten benchmarks as well as developing and implementing strategic plans to maximize cash returns and capital appreciation at the property and fund levels. This role involves guiding and supporting team activities, ensuring tasks are executed with precision and efficiency. The position entails supervisory responsibilities, potentially extending to managing direct reports, and demands the ability to work independently or collaboratively on complex assignments requiring original thinking and initiative.

The Portfolio Manager delivers solutions to escalated issues, focusing on achieving results measured against predefined milestones and profitability benchmarks. They maintain regular communication with both internal and external stakeholders, covering aspects such as quality control, training, and project leadership. Moreover, the role requires the ability to identify, research, analyze, and resolve intricate issues within a specifically assigned portfolio, upholding high standards of asset management, and contributing to the portfolio’s overall success. The ideal candidate must be proactive, adept at analyzing performance and fund metrics, understand institutional multi-housing investment fund structures and agreements, and possess the capability to work at both high-level strategic and detailed operational levels. Lastly, they are responsible for ensuring each asset meets financial targets and aligns with the overall investment strategy.

Essential Duties and Responsibilities:

1. Identifies value-add opportunities and develops/implements strategies to improve asset and fund returns.
2. Manages and monitors assigned investment properties, ensuring alignment with strategic objectives, including maximizing profitability at the deal and Fund levels.
3. Leads projects within the Preservation Portfolio, fostering a cohesive team environment while driving innovation and strategic development.
4. Sets and tracks team goals, driving accountability and performance.
5. Partners with stakeholders to craft and implement a strategic vision for the portfolio’s future.
6. Conducts site inspections to assess the condition and operational practices of properties.
7. Cultivates and sustains relationships with stakeholders, reinforcing trust and collaboration.
8. Conducts detailed financial analysis to support investment decisions and portfolio management.
9. Identifies and mitigates risks associated with the investments and operations.
10. Research market dynamics and trends, translating insights into actionable strategies.
11. Demonstrates market and investment acumen during engagements with partners and investors.
12. Evaluates and endorses deal modifications proposed by partners, delivering analyses and recommendations to the RJAHI investment committee and investors.
13. Updates and maintains a detailed record of property activities within the RJAHI portfolio management system.
14. Completes internal and external reports with precision and accuracy, ensuring timely delivery.
15. Delivers reports to senior leadership outlining action plans, timelines, interim benchmarks, and communication frequency.
16. Evaluates and refines Preservation Portfolio operations and policies.
17. Provides coaching and mentorship to team members, identifying educational opportunities and developing training programs.
18. Continuously seeks ways to improve the performance and value of the portfolio.
19. Executes various duties and responsibilities as needed, demonstrating adaptability and commitment to success.

Qualifications

Knowledge, Skills, and Abilities:

Knowledge of:

1. The company’s working structure, policies, mission, and strategies.
2. Multifamily real estate revenue management and operations, including property management, Fund level analysis, marketing and leasing, budgeting, capital needs planning, financial reporting, and compliance with financing covenants or regulatory agreements.
3. Conducting detailed financial analysis to support investment decisions and portfolio management.
4. Developing and implementing strategies to improve asset and Fund returns.
5. Strategies to prevent or manage problems within the portfolio, ensuring the long-term success of affordable housing properties.
6. Public and private housing finance programs and related compliance requirements, including HUD, HOME, Section 8, IRS Section 42, and other programs.
7. Fair Housing laws and practices.
8. Institutional investment strategies and partnership structures, including fund management and investor relations within the context of affordable housing.

Skill in:

1. Demonstrates analytical abilities and financial acumen at the property and Fund level.
2. Understands asset management organizations.
3. Utilizes proprietary portfolio management systems to optimize asset performance.
4. Exhibits critical thinking and logical problem solving.
5. Maintains organizational and communication skills, both written and verbal.
6. Understands complex legal documents, employs document management technology, and excels in financial modeling.
7. Skilled in researching and evaluating real estate market, economic, and demographic data.
8. Identifies customer needs through effective questioning and listening.
9. Maintains high-quality standards without compromising workflow efficiency.
10. Implements an organized system for follow-ups to ensure task resolution and completion.
11. Demonstrates sensitivity to customer needs, addressing concerns, and fostering positive relationships.
12. Proficient in operating standard office equipment and using required software applications.
13. Coordinates and delegates responsibilities effectively.
14. Identifies root causes of property operational issues and develops corrective actions.
15. Plans group initiatives and conducts analyses, meeting all required deadlines.

Ability to:

1. Lead and inspire others, fostering team unity and productivity.
2. Interpret policies and recommend modifications to enhance practices.
3. Organize, manage, and track tasks in a dynamic environment with accuracy.
4. Take initiative and act with foresight.
5. Work autonomously and thrive in team settings.
6. Pinpoint necessary tasks, devise timelines, and execute plans.
7. Establish and nurture effective working relationships within the organization and with external partners.
8. Project a positive and professional demeanor.
9. Communicate information clearly through various channels.
10. Identify patterns, draw logical conclusions, and interpret results for decision-making.
11. Evaluate asset management processes and provide guidance for improvement.

Educational/Previous Experience Requirements:

• Bachelor’s Degree (B.A.) in related field and a minimum of ten (10) years of relevant experience in institutional real estate investment. Supervisory and/or REIT experience preferred.

~or~

• Any equivalent combination of experience, education, and/or training approved by Human Resources.

Licenses/Certifications:

• Tax Credit Certification from a recognized agency. HCCP preferred.

Travel Required:

Up to 40%. Must have a valid driver’s license and be eligible for coverage under the firm’s Vehicle Fleet Safety Policy to drive on company business.

Working Conditions:

Hours:

Normal business hours. Some additional hours may be required. Climate-controlled office environment during normal business hours with exception of during travel.

At Raymond James, our associates use five guiding behaviors (Develop, Collaborate, Decide, Deliver, Improve) to deliver on the firm's core values of client-first, integrity, independence, and a conservative, long-term view. We expect our associates at all levels to:

• Grow professionally and inspire others to do the same
• Work with and through others to achieve desired outcomes
• Make prompt, pragmatic choices and act with the client in mind
• Take ownership and hold themselves and others accountable for delivering results that matter
• Contribute to the continuous evolution of the firm

At Raymond James – as part of our people-first culture, we honor, value, and respect the uniqueness, experiences, and backgrounds of all of our Associates. When associates bring their best authentic selves, our organization, clients, and communities thrive. The Company is an equal opportunity employer and makes all employment decisions on the basis of merit and business needs.