Director of Asset Management, Newport Beach

Director of Asset Management

12 Days Old

At Community Development Partners, we are deeply proud of our track record of providing award-winning solutions to housing. We work every day to achieve our mission of creating life-enhancing affordable housing that transcends the fundamental goal of providing high quality homes by building innovative and sustainable developments with a focus on long-term community engagement. As a mission-driven certified B Corp, we are unique in our field as a for-profit developer that leads with our impact goals. Since our inception in 2011, we have built, preserved, or are actively developing over 55 unique projects comprising 4,800+ units of affordable housing throughout Oregon, California, Nevada, Arizona, and Colorado.

Sure, that's what we do, and we are passionately committed to it, but equally as important is who we are as a team. We believe in forward progress, continuous collaboration, authentic connection, and mixing it all up with a healthy dose of fun. As an Equal Opportunity Employer, we offer a full suite of benefits that includes highly subsidized insurance, retirement plan with matching contributions, a sabbatical program, cell phone reimbursement, PTO, and more.

We're looking for a Director of Asset Management to join our Executive team. This is a unique opportunity for a strong, passionate leader who excels at growing and developing their team.

You'll lead a team of experienced professionals, setting the strategic direction while also understanding and supporting their operational and tactical needs. Your accomplished track record in affordable housing and your healthy, collaborative external relationships in the industry will be crucial as you implement effective strategies that foster optimal performance, financial stability, and long-term growth of our portfolio of affordable multi-family assets.

This is a hybrid position, working out of our Newport Beach, CA office 3 days each week.

Your role will involve:

Develop and implement asset management strategies for the company's affordable housing portfolio; aligning CDP's mission, financial objectives, and growth plans.
Oversee the financial, operational and physical performance of assets, identifying opportunities for improvement, conducting detailed analysis, and implementing data-driven solutions to maximize returns and preserve long-term value.
Cultivate and maintain collaborative and productive relationships with both internal and external partners and stakeholders, including internal departments and cross-functional partners, investment partners, community partners, public agencies, property management, and other industry professionals.
Lead, mentor and develop high-performing Asset Management and Resident Services teams, fostering a culture of accountability, continuous improvement, and professional growth.
Oversee the Resident Services and non-profit partners across the portfolio, working directly with the Services Program Manager to ensure onsite services are supporting residents' housing stability.
Prepare and present regular reports on asset performance, valuation, and risk assessment to owners, executive team, and other stakeholders.
Ensure comprehensive compliance with all regulatory requirements, loan and partnership agreements, and ethical standards, proactively identifying and mitigating risks related to financial, operational physical aspects of the portfolio.
Implement risk management strategies to minimize potential losses and maximize returns.
Provide expert Asset Management insights and due diligence support for new acquisitions, developments and strategic dispositions.

If the following describes you, we want to hear from you:

Ability to successfully interface and build strong cross-functional relationships with all levels of internal team members and external strategic partners (vendors, partners, elected officials, and other stakeholders and decision makers), finding common ground and solving problems for the good of all.
Ability to effectively maneuver through complex local political situations.
Strong written and verbal communication skills (in English), allowing for clear and succinct communication in a variety of settings (phone, video, in-person, email), and with people of various backgrounds and levels, both internally and externally.
Ability to assemble talented staff, hiring the best people available from inside or outside the organization.
Ability to lead and develop direct reports, providing challenging and stretching tasks and assignments while creating strong morale and spirit on the team, managing accountability as needed.
Ability to accurately scope out length and difficulty of work and projects, anticipating and adjusting for problems, clearly assigning responsibility for tasks and decisions, setting clear objectives, ensuring progress and results, while embedding feedback loops into the work.
Ability to clearly and comfortably delegate both routine and important tasks and decisions, as appropriate, broadly sharing both responsibility and accountability.
A strong partner and client focus, with dedication to meeting the expectations, needs and requirements of internal and external partners, stakeholders and clients, successfully gaining their trust and respect.
Willingness to stand up and be counted, taking personal responsibility for outcomes; can be counted on when times are tough.
High level of expertise in real estate finance and a deep understanding of both real estate development, asset management, and affordable housing.
Advanced knowledge of affordable housing financing, and advanced analytical, financial, and quantitative skills, including the ability to review complex financial reports prepared by others.
Ability to solve problems involving multiple options, making decisions with an in-depth understanding and interpretation of procedures, company policies and business practices to achieve complex results.
Technically savvy with a thorough knowledge of MS Office (PowerPoint, Excel, Word) and with Google Suite.
Ability to travel as required for property visits and stakeholder meetings; we estimate this to be 15- 20%.

Minimum experience:

Bachelor's degree in Business Administration, Urban Planning, Real Estate Development, Finance, or a related field.
Minimum of 10 years of multi-family real estate asset management, property management or development.
Minimum 7 years of real estate Asset Management experience.
Minimum 5 years of low-income housing tax credit (LIHTC) experience (California-specific LIHTC experience helpful).
Minimum 4 years of experience managing and developing direct reports.
Experience with permanent supportive housing (PSH) preferred but not required.
Experience in property management preferred, but not required.
Experience in year 15 disposition preferred, not required.

The annual salary range for this position is $175,000-$220,000.
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Location:: Newport Beach

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