Asset Management Director

Description

We are hiring an Asset Management Director who will serve as a strong partner inprotecting 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: 

• $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.

• 30 hours/week

Who You Are: 

• 7+ years of experience in affordable housing asset management, real estate portfolio management, housing finance, development, or a related field.

• Direct experience managing affordable housing properties financed through LIHTC, PBV, Section 8, or other subsidy programs.

• Strong financial analysis skills, including budgeting, forecasting, variance analysis, cash flow, reserves, occupancy, delinquency, and rent optimization.

• Working knowledge of affordable housing compliance, regulatory agreements, welfare tax exemptions, audits, certifications, and reporting requirements.

• Experience overseeing third-party property management providers and monitoring operational, financial, and compliance performance.

• Knowledge of LIHTC partnership structures, General Partner obligations, re-syndication, investor exits, refinancing, or partnership restructuring.

• Experience evaluating development, redevelopment, acquisition, or affiliation opportunities through financial and operational due diligence.

• Ability to assess property conditions and review physical needs assessments, capital plans, project scopes, budgets, and project execution.

• Strong ability to identify financial, operational, regulatory, and physical risks and recommend corrective actions.

• Excellent written and verbal communication skills, with the ability to present concise recommendations to executive leadership and the Board.

• Strong relationship-building skills with residents, property managers, investors, lenders, regulatory agencies, consultants, and internal stakeholders.

• Advanced Microsoft Excel skills and proficiency with property management, financial reporting, or asset management systems.

• Highly organized, proactive, and able to manage multiple properties, projects, deadlines, and stakeholder priorities independently.

• Commitment to affordable senior housing and sensitivity to the needs of older adults and economically vulnerable residents.

• Bachelor’s degree in real estate, finance, accounting, business administration, public administration, urban planning, or a related field—or equivalent relevant experience.

• Ability to travel regularly to Sequoia Living properties throughout Northern California.

Preferred Qualifications

• Experience with Year 15 LIHTC transactions, re-syndications, recapitalizations, refinancing, or investor exits.

• Experience supporting affordable housing development or acquisition due diligence.

• Familiarity with senior housing, CCRCs/Life Plan Communities, or nonprofit real estate.

• HCCP, SHCM, C3P, CHAM, or another affordable housing certification.

• Experience preparing financial analyses, risk assessments, and recommendations for executive or board-level review.

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.