Asset Management Director
Description
We are hiring an Asset Management Director (30 hours/week) who will serve as a strong partner in protecting and improving the long-term financial performance, physical condition, and value of new and existing real estate properties. This leader provides oversight of a 3-property affordable housing portfolio, capital project support across all service areas, and contributes to the due diligence associated with new developments, redevelopment, and/or affiliations in affordable housing and continuing care retirement communities (CCRCs).
What You Will Do:
Asset Management & Portfolio Oversight
Primary liaison with Affordable Communities property management provider.
In partnership with the VP of Community Services, ensure we proactively foster strong relationships with residents, team members, and key stakeholders.
Provide concise reporting and recommendations to executive leadership, including key operational, financial, and compliance metrics; identify risks, corrective actions, and established goals.
Guide annual budgeting, review monthly financial results, monitor occupancy and delinquency trends, and oversee operating and replacement reserves to support long-term asset sustainability.
Oversee compliance with management agreements, LIHTC, PBV/Section 8, welfare tax exemption requirements, and other applicable regulatory obligations, ensuring timely reporting, certifications, audits, and resolution of findings.
Provide oversight of re-syndication planning, tax credit compliance, capital account monitoring, rent optimization strategies, reserve utilization, and investor exit or partnership restructuring activities.
Ensure General Partner obligations are fulfilled and maintain awareness of legislative and policy developments that may affect portfolio operations, financing, or compliance.
New Business Development
In partnership with the Chief Business Development Officer, support due diligence efforts of new developments and possible affiliations for affordable and continuing care retirement communities.
Assist in evaluating prospective development, redevelopment, and affiliation opportunities, including market analysis, financial feasibility, operational considerations, and mission alignment.
Coordinate with internal and external stakeholders to gather, analyze, and synthesize information required for investment, partnership, and affiliation decision-making.
Provide support in assessing project risks, opportunities, and strategic fit, and in preparing recommendations for executive leadership and the Board.
Physical Asset & Capital Planning
In partnership with the VP of Facilities, analyze purchase options and capital projects for Sequoia Living locations, including Affordables, CCRCs, and Senior Center(s).
Initiate proactive conversations about the investments needed to preserve and improve the physical condition of Sequoia Living communities and assets.
Collaborate with Legal, Risk Management, and internal stakeholders to support insurance compliance and ensure coverage requirements established by regulatory agencies, financing partners, contracts, and other agreements are appropriately addressed.
Engage in obtaining physical needs assessments every five years (including health and safety issues).
Conduct periodic site visits to assess property conditions and risks.
Review scopes, budgets, and execution of capital work.
Why Work Here:
- 30 hours/week
$130k - $145k/year
For individuals who work more than 30 hrs/week, employer-paid medical, dental & vision, 18 days PTO + 8 holidays, 403(b) with employer contribution, tuition assistance, referral bonuses, employee discounts, and growth opportunities.
Who You Are:
- 7+ years of experience in affordable housing asset management, real estate portfolio management, housing finance, or development.
Knowledge of LIHTC, PBV, Section 8, regulatory compliance, partnership structures, and reserve management.
Strong financial analysis skills, including budgeting, forecasting, financial reporting, occupancy, delinquency, and cash-flow analysis.
Experience overseeing third-party property management providers and evaluating portfolio performance.
Experience with capital planning, physical needs assessments, project budgets, and property-risk evaluation.
Ability to support development, redevelopment, acquisition, or affiliation due diligence.
Strong project management, problem-solving, communication, and stakeholder-management skills.
Proficiency with Microsoft Excel and relevant property management or financial reporting systems.
Bachelor’s degree in real estate, finance, business, accounting, or a related field—or equivalent experience.
Ability to travel to Sequoia Living locations in Northern California.
Experience with senior housing, nonprofit real estate, re-syndication, refinancing, or LIHTC investor exits is preferred.
Who We Are:
Founded in 1958, Sequoia Living is a Bay Area-based nonprofit provider of senior housing operating seven communities across the Bay Area, including three affordable housing properties (~600 units) financed through LIHTC, Project-Based Vouchers (PBV), Section 8, and other subsidies. Four Continuing Care Retirement Communities and a senior center.
Sequoia Living is an Equal Employment Opportunity Employer. Qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender perception or identity, national origin, age, marital status, protected veteran status, or disability status. In compliance with the Americans with Disabilities Act, Sequoia Living will provide reasonable accommodations to qualified individuals with disabilities and encourage prospective employees to discuss potential accommodations with the employer.
Pursuant to the San Francisco Fair Chance Ordinance, we may consider for employment qualified applicants with arrest and conviction records.
