Asset Manager

Greystone is a private national commercial real estate finance company with an established reputation as a leader in multifamily and healthcare finance, with over $12 billion in loan originations in 2024. The firm consistently ranks in the Top 10 for Fannie Mae & Freddie Mac multifamily loan originations and is the #1 Overall HUD Multifamily and Healthcare Lender in the country. Greystone also ranks nationally as a top affordable housing, seniors housing, and small balance loan lender. At Greystone, charity is at the heart of who we are and what we do. 

At Greystone, everything we do is driven by our purpose of improving others’ lives. As we work hard to maintain our ranking as a top national commercial real estate lender, our culture of caring and support is just as important. We don’t just say “Where People Matter” – we lead with this mantra every day to guide our actions and behaviors. Greystone is committed to fostering and preserving a culture of inclusion. Belonging is at the heart of our culture of caring, integrity, and excellence and is a driving force behind our entrepreneurial spirit and creativity.   

Greystone Real Estate Capital is currently recruiting an Asset Manager who reports to the Director of Investment Management. The role will monitor the operations of an affordable housing portfolio and work closely with Fund Management to report on the performance of these assets to our investment partners. We will consider candidates who would like to work remotely.

Primary Duties and Responsibilities:

This position will play a key role in monitoring the performance and compliance of LIHTC properties and ensuring they meet the goals and requirements of investors, developers, and regulatory agencies. Specific responsibilities will include:

• Oversee a diverse portfolio of LIHTC properties through rigorous analysis and in-depth reporting.
• Establish strong working relationships with general partners, management companies, and other key stakeholders.
• Monitor the construction progress of each property by reviewing construction draws, change orders, and third-party inspection reports to ensure construction progresses on time and within budget.
• Evaluate monthly leasing activity by analyzing occupancy and traffic reports, comparing leasing activity to initial projections, and calculating credit adjusters, as necessary.
• Process equity requests confirming all equity benchmarks are satisfied, ensuring receipt of appropriate back-up documentation, and partnership compliance with the limited partnership agreement.
• Examine monthly/quarterly unaudited income statements, balance sheets, and occupancy reports for each operating partnership. Identify operating trends and discuss property performance with the management company.
• Risk rate each partnership on a quarterly basis following the AHIC guidelines, develop action plans for watch list properties, collaborate with the management company to implement recommendations, and continually reassess plan based on results.
• Analyze and approve management company’s annual budgets.
• Perform an annual assessment of the audited financial statements and tax return to evaluate the financial performance and tax benefits delivered for each partnership.
• Conduct site inspections to assess the property’s physical condition, the management company’s proficiency, and gather insight into the local market.
• Confirm annual insurance certificates are compliant with the terms of the limited partnership agreement.
• Remain informed of affordable housing best practices and Section 42 LIHTC compliance requirements.
• Ensure ongoing partnership compliance with LIHTC, financing, and state requirements and regulations.
• Contribute to a dedicated team environment within Investment Management and the broader syndication team. Actively search for efficiency and process improvements and collaborate with all members of the syndication team.

Experience, Skills, and Abilities Required:

• Bachelor’s degree in business, finance, real estate, or related field.
• Minimum of 5 years of experience in the LIHTC industry, with a proven track record of success in Asset Management.
• Extensive knowledge of the LIHTC program, tax credit regulations, affordable housing finance, real estate development, and market trends.
• Proficiency with Microsoft Office suite, with advanced Excel skills.
• Excellent written and verbal communication skills.
• Initiative-taking individual who works independently and as a member of a team.
• Currently has or will receive a LIHTC Compliance Certification. 
• Exceptional problem-solving, organizational, interpersonal, and time-management skills.
• Dedication to excellence, meticulous attention to detail, and consistently delivering high-quality work products.
• Willingness to travel as needed to conduct site inspections of the properties.

Office Location:

The entire team enjoys the advantage of working remotely and maintains a culture of high performance and interoffice relationships through multiple weekly Teams calls as well as off-site meetings and visits.

At Greystone, we believe that finding creative solutions for our clients comes from the collaboration of people with diverse backgrounds and perspectives. We strive to build an inclusive work environment that celebrates differences and empowers all individuals with opportunities to channel their entrepreneurial spirit. Greystone is an EEO employer.