REAL ESTATE ASSET MANAGER

SUMMARY:

Bear Real Estate Group [https://bearreg.com/] is seeking a detail-oriented and driven Asset Manager to oversee the performance of our ever expanding portfolio of workforce and market-rate housing developments. This role is a key part of both the asset and finance management teams and will collaborate closely with third-party property management firms responsible for our owned assets.

The Asset Manager will monitor, evaluate, and support portfolio key performance tracking. They will work as a liaison, sharing pertinent information to ownership as well as ensuring 3rd party performance meets expectations and financial metrics. Communication with lenders, investors, the U.S. Department of Housing and Urban Development (“HUD”), contract administrators and owners will be needed. Experience with LIHTC, HUD, Section 42, PBV, RAD, Section 8 and other relevant housing programs or state agencies as required. Expertise in compliance policies are required with the ability to regulate or enforce compliance as needed as the Asset Manager is accountable for identifying risks, tracking inspections and audits and ensuring assets perform to investment and regulatory standards.

DUTIES AND RESPONSIBILITIES:

• Serve as Owners representative for all multifamily properties that are manages by third-party property management companies. This property set includes properties that have HUD involvement by way of Section 8 housing assistance payment (“HAP”) contracts (i.e. RAD, PBRA, RAB PBV, project based Section 8) as well as state housing agency oversight through the low income tax credit (“LIHTC”) program.
• Monitor outcomes of HUD and LIHTC reviews (e.g. MORs, NSPIRE inspections, and HUD/CA audits); ensure corrective actions are completed by management agents

• Track and monitor all Section 8 HAP contracts for annual renewals to ensure timely action.
• Oversee annual rent adjustment processes for Section 8 HAP contracts, ensuring the property management companies follow HUD protocols for rent increases, utility analyses, and utility allowance implementation.
• Analyze operating performance versus approved operating budgets to identify risks or variances and escalate concerns.
• Collaborate with ownership and investors on HUD and LIHTC compliance and performance updates.
• Oversee replacement reserve funding, replacement planning, and capital expenditure needs across sites.
• Develop performance benchmarks and hold management companies accountable through scorecards, KPIs, and contract reviews.
• Provide recommendations to ownership regarding property management company contract renewals, corrective actions, and performance issues.

• Evaluate key performance indicators (KPIs), including occupancy, rent growth, expense control, and delinquency.
• Benchmark performance against internal portfolios and industry standards.

QUALIFICATIONS:

• Ability to work collaboratively and independently on multiple projects.
• Excellent interpersonal, written, and oral communication skills.
• Ability to solve practical and complex problems by utilizing internal and external resources.
• Advanced skills in Microsoft Excel and Real Page Asset Investment Management, Power Business Intelligence, or Revenue Management is a plus.

• Bachelor’s degree in business, finance, real estate, or related field.
• 5+ years of experience in multifamily housing, with specific experience in LIHTC and HUD multifamily housing asset management.
• Knowledge of HUD 4350.3, RAD PBRA/PBV, Section 8 programs, MORs, NSPIRE inspections, and HUD contract management (HAP/CHAP, rent adjustments, OCAF).
• Experience overseeing or working with third-party management companies.
• Strong financial analysis, reporting, and communication skills.
• COS, HCCP, CPM, BOMS or similar industry certifications preferred.

WHAT YOU’LL LOVE ABOUT WORKING HERE:

• Invest in Your Future: 401(k) with company match, plus annual merit-based increases
• Prioritize Your Health: Comprehensive medical, dental, vision, life insurance, Long-Term Disability, and FSA and HSA options.
• Recharge and Renew: Generous paid time off and 8+ paid holidays.
• Voluntary Benefits: Short Term Disability, Accident, Critical Illness, and Hospital Indemnity.
• Keep Growing: Ongoing education, leadership training, and advancement opportunities across all departments.
• Celebrate Together: Annual employee appreciation events, team outings, and company-wide recognition programs.
• Make an Impact: Contribute to meaningful projects that shape neighborhoods and improve lives.
• Be Rewarded: Eligible for performance-based bonuses and commissions

The above is intended to describe the general content of and requirements for the performance of this job. It is not to be construed as an exhaustive statement of duties, responsibilities or physical requirements. Nothing in this job description restricts management’s right to assign or reassign duties and responsibilities to this job at any time. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Bear Real Estate Group is proud to be an Equal Employment Opportunity and Affirmative Action employer. We do not discriminate based upon race, religion, color, national origin, gender (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, age, status as a protected veteran, status as an individual with a disability, or other applicable legally protected characteristics.