Director Property Holdings

Company: Hunt Companies, Inc.
Location: Los Angeles
Posted on: November 6, 2024

Job Description:

At Hunt Capital Partners (HCP), our team of dedicated affordable housing professionals is equipped with the intellectual capital and experience needed to ensure that our developers and investors meet and exceed their goals. As the syndication division of Hunt Companies, Inc., HCP is able to tap into a strategic network of business alliances across the development, construction, property management, and mortgage banking sectors to provide our investors and developers with enhanced value. In addition to an expertise in federal and state Low Income Housing Tax Credits (LIHTC), HCP maintains a robust track record across a diverse range of executions, including Solar Tax Credits, Historic Tax Credits (HTC), and the Rental Assistance Demonstration (RAD) program.A Brief OverviewHunt Capital Partners (HCP) is seeking an individual to manage HCP and its affiliates' general partner or managing member ("GP") interests in affordable housing projects ("Properties"). The position is responsible for facilitating performance of all GP obligations of the Properties, which include, but are not limited to, developing strategies to optimize and increase the value of the Properties. It is preferred that the position is based in one of the Hunt offices in Los Angeles, Denver, or Boston, but remote candidates that reside near a major airport will be considered.What you will do

• Manage the partnership for each property to ensure all GP obligations under the applicable project documents are performed.
• Ensure compliance of each property in accordance with the low-income housing tax credit program, property partnership agreements, state, and HUD requirements. Manage the resolution of any issues identified by Limited Partner or State Agency that jeopardize the operations of each property.
• Oversee third-party Management Companies' performance, develop asset level goals and create work plans.
• Review, analyze and follow up on monthly occupancy and financial statements to maximize operations.
• Review and approve third-party managed annual property budgets and identify unusual budget variances.
• Review and approve all property purchases with adherence to the annual budget.
• Perform property inspections as necessary to monitor physical condition and preventative maintenance practices.
• Resolve any escalated complaints from residents.
• Oversee portfolio insurance program including insurance renewals and onboarding of new assets to the insurance program.
• In the event of an incident requiring filing of an insurance claim, coordinate with property on-site staff the filing and processing; ensure the requirements of the insurance carrier, property lender, and investor are met.
• Calculate and facilitate the annual property cash flow payments and distributions to all partners and lenders as applicable to the property project documents.
• Ensure completion of the annual audit and tax return for each property in conjunction with HCP accounting and third-party accountants/auditors.
• On behalf of the property, prepare consent requests to HCP as required in each property partnership agreement, including but not limited to, reserve withdrawal requests, management company changes, loan refinancing requests, and modification to project documents.
• Manage funding of committed capital and loan proceeds within the authority of each property's project documents.
• Support acquisition of assets by participating in due diligence activities.
• Develop and execute a strategic plan for any troubled properties, which may include refinancing, capital improvements, or managing operations to improve NOI.
• Serve as liaison with state agencies, lenders, and investors.
• Ensure compliance with all lender, state, and federal agencies' monthly, quarterly, and annual reporting requirements.
• Prepare and distribute asset management reports and develop additional reporting mechanisms, as required.
• Develop exit strategies with HCP Capital Transactions to maximize value and support the execution of the exit strategy.
• As necessary, consult with attorneys, accountants, and other professionals for the benefit of the GP, the partnership, and the Properties.
• Perform special assignments for the Company's management.Qualifications
  • Bachelor's Degree in Business with emphasis in Real Estate or Finance Required or Master's Degree (MBA is preferred).
  • Five or more years of related work experience preferred.
  • Other majors with relevant work experience will be considered.
  • Familiarity with the Low-Income Housing Tax Credit (LIHTC) Program preferred. Industry credential such as HCCP, CPM, TCS, or C3P certification is a plus.
  • Key skills and traits include property and partnership accounting principles, real estate concepts, attention to detail, self-starter, efficient time management, critical thinker, inquisitive, flexible, and strong organizational skills.
  • Proficiency in MS Suite Office, especially MS Excel and MS Word, and Adobe Acrobat.
  • Excellent verbal and written communication skills.
  • Ability to travel extensively.
  • Requires a self-motivated, team player who pays close attention to detail and must be able to adapt to a fast-paced environment, effectively manage a high-volume workload, and manage multiple projects simultaneously.
  • Ability to work independently but also thrive in a dynamic and team-oriented environment.
  • Results-oriented with strong time management and execution skills.
  • Strong interpersonal, communication, and customer service skills with the ability to sustain strong relationships with clients, peers, and business partners. Ability to interact with multiple levels in an organization and industry professionals.
  • Think critically while balancing business goals with prudent risk management.CompensationWe are committed to offering competitive and equitable compensation. The hiring range for this position is generally between $155,000 - $190,000, exclusive of fringe benefits or potential bonuses. This position is also eligible for a performance bonus. Final salaries will be determined based on factors such as geographic location, skills, education, licenses, certifications, and/or experience. In addition to these factors - we believe in the importance of pay equity. Please keep in mind that the range mentioned above is the general Hiring Range for the role. Hiring at the top of the range is reserved for exceptionally qualified candidates. We consider internal and external factors as a part of every final offer. We also offer a generous total compensation and benefits package.BenefitsA competitive salary is only one part of your total rewards. We also offer a comprehensive benefits package, including paid time off, medical, dental, life and disability insurance, HSA/FSA accounts, retirement, rewards programs, and so much more!
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Keywords: Hunt Companies, Inc., Hacienda Heights , Director Property Holdings, Accounting, Auditing , Los Angeles, California