Asset Manager

About The Housing Hub Of New Brunswick:

Recognizing that housing affordability is vital to sustainable communities, the Housing Hub of New Brunswick is a not-for-profit organization that partners to drive housing development across all of New Brunswick.

We believe that a thriving inventory of housing is vital to the sustainable growth of New Brunswick and the fulfillment of individuals, families, and communities. Through a disciplined approach and a focus on execution, the Housing Hub combines relevant stakeholder resources, connections, and experience to expand development of housing projects that are diverse, inclusive, and sustainable.

The Chapman Group is happy to support us in this recruitment.

Position Details:

The Asset Manager will be responsible for the operational health of the Housing Hub's growing portfolio of affordable multifamily properties across New Brunswick. The role will provide oversight of the properties to ensure the portfolio's performance meets business plan objectives, impact goals, and identified social and financial returns for all stakeholders. The Asset Manager will oversee revenue tracking, expense management, property condition maintenance, capital planning, property manager performance, financial and regulatory compliance, and risk management associated with our assets, as well as bring an asset management perspective in our underwriting process.

This position reports to the CEO.

Benefits and Perks:

As a member of our team, you are entitled the following benefits, to name a few:

• Comprehensive health benefits package, including access to our Employee Assistance Program for 24/7 support.
• Remote work opportunities.
• Competitive salary, tailored to match your level of experience and expertise.
• Make a tangible impact on communities through purpose-driven and meaningful work.
• Opportunities to attend work-related conferences and events for networking and training purposes.

Other:

We are an equal opportunity employer and values diversity in the workplace. We encourage applications from all qualified individuals regardless of race, ethnicity, religion, gender, sexual orientation, age, or disability status.

We are committed to ensuring that all employees have the necessary support to thrive in their roles. We offer accommodation for individuals who may require it due to disabilities or other circumstances. If you require accommodation throughout the recruitment process, please let us know.

Required Skills and Experience:

• Previous experience in property or asset management for multifamily properties or a combination of related education and experience.
• Undergraduate degree in a related field (real estate, engineering, architecture, construction, finance, law, economics, etc.).
• Strong background in multifamily rental operations, capital projects, and real estate finance.
• Deep understanding of real estate finance and its impact on overall financial performance.
• Proven project management skills, leading diverse internal and external teams.
• Highly motivated, detail-oriented, and able to work independently and remotely.
• Excellent organizational skills and ability to prioritize tasks to meet deadlines.
• Excellent written and verbal communication skills.

Other Valuable Experience:

• Awareness of and interest in social inclusion.
• Addressing and advancing social equity and economic development.
• Experience with non-profits and community organizations.
• Interest in creating financing solutions for social purpose organizations and affordable housing.
• Experience with environmental and energy retrofits.
• Active community engagement or involvement in social/environmental issues.
• Fluency in French an asset.
• Have access to reliable transportation as occasional travel to properties is required.
• Must be a resident of New Brunswick.

The Asset Manager is responsible for overseeing the portfolio's financial performance and property management, working collaboratively with other team members. This includes:

Financial Management

• Manage operational performance reviews, including monthly budget reviews and annual budget formulation, risk management, lender/equity and regulatory compliance, and performance on investment returns, affordability and energy targets.
• Develop capital budgets and plans for real property with property managers and monitor spending and capital reserves.
• Ensure timely payments to financial partners and compliance requirements are met under funding and operating agreements.
• Prepare reporting documents with investment performance data and qualitative updates for internal uses as well as financial and community partners.
• Review/approve rent schedules for all properties, tracking limits and trends, and ensure rent changes are implemented by property operators.
• Update project proformas quarterly or more frequently as required, including updates to underlying assumptions on rents, operating expenses, leasing, capital markets, and other relevant factors.
• Undertake market and asset reviews to evaluate the overall operational, social impact, and financial results for each property, and identify potential challenges and risks to properties and objectives.
• Support grant applications and refinancing processes as required.
• Collaborate closely on the operational aspects of investments and ensure a smooth transition from acquisitions to asset management.
• Support analysis and compliance on other assets and Housing Hub portfolios as required.

Property Management

• Address day-to-day and mid-level issues at the property level through collaboration with property managers and raise broader issues with recommended solutions for discussion with the CEO and leadership team.
• Conduct periodic site visits and property management reviews.
• Prepare and seek responses to Requests for Proposals for management services, as required, and assist with negotiations of management contracts as they come up for renewal, or with new projects.
• Manage periodic interaction with the residents, as well as with the surrounding neighborhood organizations as needed.
• Develop and maintain relationships with community partners engaged in projects.
• Oversee leasing efforts and assist in the management issues of each property when necessary.

The Asset Manager will also:

• Assist in the development of processes and systems relating to asset management.
• Assist in development and evolution of the operating elements of investment strategy.
• Work to maintain and strengthen relationships with current and potential project partners, financial partners and all levels of government and government entities.
• Perform other tasks as reasonably required.