Asset Manager - Chicago, IL

Apollo Housing Capital, LLC, a national syndicator of historic (HTC) and low-income housing tax credits (LIHTC) is preparing for continued strong growth and is seeking full-time Asset Manager for our Chicago, IL regional office. The position requires an organized, detail-oriented individual who is able to handle multiple tasks with limited supervision. Apollo Asset Manager portfolios typically number approximately 40 properties.

CORE DUTIES AND RESPONSIBILITIES:

New Acquisitions
Review market study comparables to confirm the adequacy of operating budgets including rents, expenses, and capital improvements. Verify lease-up and vacancy assumptions for proposed developments are achievable.

Evaluate proposed property management teams to establish competency dealing with LIHTC compliance, site operations and their ability to report in a timely and accurate fashion.

Review Property Management Agreements prior to project closings for required business terms.

Post Closing Operations
Interpret and communicate the management, documentation and reporting obligations as specified in the partnership agreement.

Monitor construction completion, lease-up, cost certification and 8609 executions to assure on-time delivery of first year credits and intervene when appropriate. Monitor compliance with terms of construction or permanent loans and assist in resolving any issues that arise relative to the various loans. In concert with accounting, manage the disbursement of equity for construction costs, developer fees, and reserve fundings.

During the compliance period, provide oversight of project management by analyzing performance data and completing site inspections for early identification of potential issues. Provide technical assistance in the area of project performance and managerial strategy to ensure the continuous receipt of tax credit benefits.

Continually assess project and partnership risk factors as they pertain to compliance with Section 42 (LIHTC) provisions, and partnership agreement conditions. Oversee compliance reviews and follow up on noted deficiencies or 8823 filings. Perform project inspections, follow up on code violations or other health and safety conditions, and determine future capital needs and their financial impact.

Expedite the receipt of financial and operational information from the lower tiers on a quarterly and annual basis. Prepare narrative Investor reports on operations, meet with investors on an as-needed basis to discuss portfolio performance or strategize for problem resolution.

Other duties as assigned.