Main NYC Office
551 Fifth Avenue
Floor 23
New York, NY 10176, USA
Main NYC Office
551 Fifth Avenue
Floor 23
New York, NY 10176, USA
Company Description
Jonathan Rose Companies is one of the country’s leading owners, developers and operators of green affordable and mixed-income communities. Founded in 1989, Rose has created projects with more than $4.2 billion of value with a current portfolio of 19,000 apartment homes in 15 states and Washington DC.
Our mission is to create a more environmentally thriving, socially just world through the development, preservation, renovation and management of green, affordable and mixed income housing.
The firm is a fully integrated investment management, development and asset management company with, construction management, solar energy, mortgage finance and title company affiliates.
We strive to achieve positive environmental impact by investing in energy efficiency, decarbonization, and water conservation to reduce our use of natural resources and toxins. Our social impact is achieved by preserving and expanding housing affordability, and connecting our residents to health, education, financial, cultural and social services. And we aim to achieve these impacts in a co-creative process with governments, our residents and staff.
We are signatories to the United Nations Principles for Responsible Investing (UN PRI), benchmark performance annually through GRESB, and align our reporting with the Task Force for Climate-related Financial Disclosures (TCFD) guidelines, SASB Standards, and GRI Standards.
Position Description
The Asset Manager (AM) is responsible for ensuring the properties meet Rose's financial, social and environmental goals. The AM will reforecast the property business plans for each asset overseen as a basis for comparing current performance to the initial investment goals, making updates to the plans no less than annually to reflect property strategy, performance and market conditions. The AM will review property financials with property management monthly and report on performance quarterly to investors and / or executive team.
The pay range for this position is $135-150k based upon factors including but not limited to related experience and time in the industry.
Essential Functions
FINANCIAL OVERSIGHT
- Provide financial oversight of the property with support from the Asset Management Analyst, including development of business plans; provide guidance on operating budgets and 5-year capital expenditure plans to meet or exceed goals; perform variance analysis; monitor the monthly, quarterly and annual reporting process to assess performance against budget and underwriting.
- Monitor cash reserves and recommend distribution amounts.
- Manage all partner, agency and investor inquiries, requests, and issues.
- Organize proper documentation, record maintenance and accounting issues relating to ownership transfers and partnership buyouts.
- Coordinate with various property management companies to optimize performance, including teams from Accounting, Facilities and Marketing. Interact with and support Impact, for continuous improvement of environmental performance and implementation of Communities of Opportunity initiatives; encourage and support optimal social programming.
- Visit properties on a rotational basis.
- Assist the Director of Asset Management with/leads the process of determining the refinancing or disposition of properties, with research, analysis, marketing, negotiation and successful completion.
FINANCIAL REPORTING
- Prepare and submit year-end audit information to outside accounting firms including investor updates and special requests as needed.
- Review and process all financial statements, tax returns and coordinate engagement requirements.
- Draft timely, detailed and accurate reporting by synthesizing relevant information and extracting data from several sources for both internal use and external investor reporting on a quarterly and annual basis.
MEETINGS & SPECIAL PROJECTS
- Attend and contribute to meetings, provide support to the Director and MD of Asset Management, Impact and others as needed.
- Assist with special projects as requested, including but not limited to working through HUD issues (2530's, 8823’s, inspections and other), researching partnership documents, real estate taxes (PILOT), legal activities and handling various state tax issues.
CASH FLOW
- Analyze and distribute cash flow from the properties through the partnership waterfalls on an annual or semi-annual need, including special distributions relating to capital transactions for refinancing, sale and other.
Education Requirements and/or Years of Experience:
- Bachelor Degree in Finance, Business, Real Estate or other related discipline required.
- Master Degree in Business or Real Estate a plus.
- 2-5 years of experience in the asset management of affordable housing.
Rose Companies Benefits:
At Rose Companies our goal is to provide an affordable and comprehensive benefits package that provides security for you and your family and supports your overall wellbeing. Benefits offered include, but are not limited to: Medical, Dental, Vision, Flexible Spending Accounts, Life, Short-Term Disability, Long-Term Disability, 401K with company match, competitive paid time off policy, paid holidays, parental bonding leave and educational assistance.
Rose Companies is committed in policy and practice to providing equal employment opportunities for all applicants and employees, based upon their training, experience, and overall qualifications. Consistent with this commitment, discrimination against an applicant or employee based upon the individual’s race, color, creed, religion, sex, gender, age, national origin, ancestry, citizenship status, marital or familial status, sexual orientation, gender identity, gender expression, disability, military status, protected veteran status, genetic information, or any other condition or characteristic protected by law is strictly prohibited.
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