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The Development Asset Manager is responsible for overseeing the performance and long-term viability of affordable apartment investments, focusing on analyzing, monitoring, and optimizing asset performance and mitigating risk for projects in the pre-construction and development phase of its lifecycle. This role involves analyzing construction and environmental due diligence, construction draw packages, inspection reports, lease-up, financial, market, and compliance data, while fostering strong relationships with key stakeholders to ensure successful outcomes. The position requires active engagement from an investment’s underwriting phase to construction completion, lease up and conversion to permanent financing, with opportunities to contribute insights and strategies to enhance asset value.
We Innovate to shape the future of CRE, so in this role you will:
Responsibilities:
- Review and analysis of construction and environmental due diligence to verify adequacy and conformance with closing requirements.
- Review and analyze construction draw packages, , inspection reports, and lease-up data to track asset performance against projections, assign risk ratings, and prepare financial analyses to estimate benefits, capital adjustments, and stabilization gaps.
- Evaluate quarterly and annual financial reports to monitor revenues, expenses, and variances from underwritten projections, assigning risk ratings and preparing financial projections for stabilization, cash flows, and market valuations.
- Process and analyze partnership consent requests, including capital releases, , refinances, and partnership modifications, while conducting physical inspections to assess property conditions, management performance, market trends, and compliance.
- Identify and manage watchlist and distressed assets, developing and communicating improvement or workout strategies.
- Support the implementation and reporting functions of the construction finance and asset management database, ensuring data integrity, creating reports, and conducting pre-production testing.
- Collaborate with stakeholders, including general partners, property managers, and accountants, to ensure compliance with agreements and resolve issues impacting asset viability.
- Monitor multifamily market trends, particularly in affordable housing, to assess industry dynamics and the performance of comparable properties.
- Generate and maintain monthly and quarterly asset performance reports for internal and external stakeholders.
- Other duties as assigned.
We Stand for Excellence, so to achieve success in this role you should have:
Preferred Qualifications:
- Strong analytical skills with the ability to identify issues, draw conclusions, and interpret results to support decision-making with minimal oversight.
- Relevant experience in real estate, particularly in the design, construction, financial assessment, or management of multifamily housing; affordable housing/Section 42 experience preferred.
- Proficiency in financial modeling, coupled with excellent organizational, multitasking, and prioritization skills.
- Exceptional verbal and written communication skills, with the ability to convey information clearly and professionally to internal and external stakeholders.
- Bachelor’s degree or equivalent
- 3+ years of experience in a similar position
Source: Berkadia Career Page
