Founded in 1968, Abode Communities mission is to “create service-enhanced affordable housing and socially-beneficial community facilities that promote the social, economic, and physical transformation of underserved communities.” The organization’s impact is realized through a fully integrated and multi-disciplinary approach to community development. The organization’s professional services – real estate, architecture and property management – ensure Abode Communities’ high-quality standard is brought to each and every residential community we place in service. Above and beyond, the organization provides complimentary mission-critical on-site resident (social) services that ensure low-income families, seniors, and people with special needs can achieve economic and personal growth, long-term self-sufficiency, and housing stability.

Abode Communities’ affordable housing portfolio consists of more than 30 properties with over 2,200 units which generates over $17 million in annual revenue.  Under the direction of the Executive Vice President and Chief Operating Officer, the Vice President, Portfolio Management is an officer of the organization and will manage the Portfolio Management functions of the Real Estate Division.  Direct reports to the Vice President, Portfolio Management include: two to three asset managers, one to two project managers and one project management associate.  Responsibilities include overseeing the operations and management of the portfolio ensuring the properties’ physical and financial well-being, making sure the properties are in compliance with their legal and regulatory requirements and managing renovation, rehabilitation and financial restructuring of properties in the portfolio.  Responsibilities also include overseeing the acquisition, financing and rehabilitation of subsidized and non-subsidized affordable residential properties.  The Vice President, Portfolio Management is also responsible for analyzing and evaluating property needs and opportunities and coordinating with multiple departments, including Development, Finance and Property Management.

1.      Oversee the operations and management of the organization's residential portfolio ensuring that the properties’ performance meet or exceed financial expectations, are physically maintained at or above company standards, and comply with all regulatory requirements.

2.      Work in collaboration with the Senior Vice President, Property Management and Director of Facilities Management to ensure properties are performing at optimal levels physically and financially and are in full compliance in all aspects; establish and maintain procedures for appropriate level of oversight over operations and compliance of properties; assist in resolving operational and compliance issues when necessary.

3.      Maintain capital improvement plans and provide solutions to capital improvement needs through management of reserves, and securing soft funding through public sources, restructuring of existing debt, or seeking refinance opportunities

4.      Oversee, review and approve annual property budgets to ensure maximization of partnership fees, operational effectiveness measured against the industry and internal standards, understand and explain portfolio wide trends, including analysis and proposed resolutions to any portfolio issues

5.      Oversee and manage tax credit investor buyout activities for all existing projects in the portfolio that are at the completion of the initial 15-year compliance period.

6.      Develop and maintain portfolio-wide scan to identify and evaluate financial and physical needs of properties within Abode Communities’ existing portfolio.

7.      Conduct physical, financial and operational due diligence of specific properties at or beyond 10 years of the initial occupancy and compliance period.

8.      Assist the CFO in ensuring that limits of coverage comply with minimum requirements provided for in all agreements (i.e., partnership, lender, regulatory, etc.)

   a.   Property

   b.   Liability

   c.    Workers’ Compensation

9.      Maintain relations with the Board of Directors regarding Portfolio Management activities within the Real Estate Division including obtain project specific approvals, prepare and present the Property Performance Report and develop, update and maintain Board Approved Thresholds for acceptable terms in underwriting, loan agreements and limited partnership agreements for portfolio management developments.

10.  Conduct initial due diligence of acquisition opportunities of both covenanted and unrestricted multifamily assets to preserve as affordable housing.

11.  Oversee entire refinancing and repositioning process for properties already in the portfolio as well as acquisition opportunities identified by the Business Development Team including: development of rehabilitation scope; create property budget and financing plan: secure all necessary financing and local approvals; and manage the construction process including tenant relations during construction process.

12.  Establish and maintain effective business relationships with all financial partners including lenders and tax credit investors, and negotiate on key investment terms and conditions for portfolio management projects.

13.  Negotiate key terms for major project related contracts including those for general contractor and architect for portfolio management projects.

14.  Supervise and train Portfolio Management staff in the development and asset management of affordable housing.

15.  Engage in collaboration within industry including the use of industry wide tools for internal benchmarking and best practices

16.  Develop and meet annual Division Budget for revenues and expenses.

17.  Perform other duties as required.

1.      A graduate degree in a related field and five or more years of experience in real estate/housing development or finance, preferably with a nonprofit agency, or a Bachelor’s degree and ten or more years’ experience in housing development, real estate development, asset management, planning, business, finance or a related field.

2.      Knowledge of affordable housing and real estate development, finance including key aspects such as property due diligence and acquisition, and site planning and design.  Experience with all phases of the development process preferred, preferably with at least one occupied rehab project taken from concept through completion.

3.      Knowledge of asset management functions including understanding property budgets, variance analyses, capital improvement plans, as well as investor and lender reporting requirements.

4.      Ability to initiate and maintain effective and cooperative working relationships with colleagues, consultants, team members, local government agencies, lenders/investors, and community stakeholders.  Experience working with principals and senior level officials.

5.      Demonstrated experience in structuring and negotiating affordable housing transactions, which include public subsidies, low income housing tax credits and tax exempt bonds.

6.      Knowledge of and experience with loan packaging, public and private affordable housing resources, and subsidy programs;

7.      Ability to initiate and maintain effective and cooperative working relationships with team members, local government agencies, consultants, lenders/investors, and community stakeholders.

8.      Ability to effectively engage community representatives, including persons with diverse economic and educational backgrounds, in the real estate and community development process.

9.      Well-organized, detail oriented, and excellent analytical skills; proficiency in sophisticated financial analysis using Excel and with word processing software such as Microsoft Word.

10.  Strong analytical and problems solving skills; good client and public presentation skills; and excellent oral and written communication skills.

11.  Well versed and knowledgeable in key aspects of property due diligence, including regulatory review, as well as physical and operational assessments.

12.  Understanding of local government financing approval processes, especially those for re-syndications in the City of Los Angeles.

13.  An entrepreneurial and creative approach to problem-solving in the field of real estate development; enthusiasm and team building spirit.

14.  Valid California driver's license and availability of an insured vehicle to travel within the Abode Communities’ service area.  Vehicle must meet Abode Communities’ insurance requirements.

This is a full-time, exempt position, salary commensurate with experience.

Abode Communities’ employees enjoy an abundance of benefits include a competitive benefits package (health, dental, vision); 9/80 work schedule, voluntary retirement plan, Flexible Spending Plan, subsidized parking, and vacation and sick leave.

Abode Communities is an Equal Opportunity Employer.