Portfolio Management Associate Jobs in Minnesota

About PPL

Project for Pride in Living (PPL) is a nonprofit organization dedicated to empowering low-income individuals and families to become self-reliant through integrated services in housing, employment, and education. We believe in the power of community and the potential of every person. When joining PPL, you become a part of a diverse team whose goal is to assist our residents and communities with the groundwork they need not only to survive but also to thrive.

Position Summary 

The Associate Director of Asset Management is a strategic leadership role responsible for optimizing the performance, sustainability, and long-term value of Project for Pride in Living's (PPL) multifamily affordable real estate. This position oversees asset management functions across affordable housing and mixed-use developments to preserve the quality and longevity of our buildings in a manner that is aligned with our mission.

What You'll Do

Portfolio Performance

• Monitor and manage primarily low-income housing units plus some commercial space, including monitoring financial performance, physical condition and capital expenditures, of troubled properties and recommending corrective action 

Contracts and Management Services

• Select, engage, and manage appropriate management services for all PPL-owned real estate 

Asset Management Plan

• Work closely with Asset Management team to establish and implement an Asset Management Plan

Property Disposition

• Coordinate and execute property disposition strategies, including conducting financial analysis, identifying and addressing legal issues, such as land use restrictions and other property covenants, and coordinating project closing details

Property Insurance and Property Tax

• Ensure property insurance and property tax is in order for each property, including assuring that proper insurance coverage and tax classification and valuations filed and addressed appropriately
•  Manage all property insurance claims, losses and repairs, in coordination with Property Management, Finance and outside contractors

External Stakeholder Management

• Produce and prepare reporting to partners, investors, funders, and other external stakeholders as required

Asset Compliance

• Monitor and manage compliance with all funding and other asset-related requirements for all owned properties, including assuring that regulatory and legal reporting requirements are fulfilled

Real Estate Development and Rehabilitation

•  Collaborate with Real Estate Development and Property Operations during all phases of the development process to review and analyze financial plans, projections, and financial structures

Supervisory Responsibilities

• There are no supervisory responsibilities at this time

 What You Bring

Demonstrated problem solving skills in analyzing and recommending alternatives

• Strong financial analysis skills essential to the review of the financial performance, and solutions related to operating issues related to an affordable housing portfolio
• Experience with the preparation of budgets, capital expenditures, and tax information

Prior Real Estate Portfolio Management Experience

• 5-7 years' experience in real estate, asset management, property management, real estate Accounting or other closely related field
• Demonstrated proficiency in the ability to read and interpret documents related to the Asset Management such as property records, income and expense reports, insurance and property tax information 
• Familiarity with low-income housing funding mechanisms essential to operation and development of affordable housing properties (e.g. tax credit financing, operating subsidy programs, section 8 housing assistance, state/local/federal funding)
• Knowledge of real estate financing and accounting
• Yardi Property Management software proficiency highly desirable
• Must have valid drivers' license and able to drive to inspect sites

Education and/or Experience

• BA/BS degree in Real Estate Management, Business, Finance, Accounting, or a combination of training and relevant experience

Salary/Hours: Full Time/Exempt: $95,000 - $110,000 annually DOQ

Why You'll Love Working at PPL

 Competitive Pay

• $95,000 - $110,000 annually DOQ/Exempt 

 Comprehensive Benefits Package

• Health & Dental Insurance
• Employer-paid Short- & Long-Term Disability and Life Insurance
• Paid Parental Leave
• HSA or FSA options
• Generous PTO & Paid Holidays
• 403(b) Retirement Plan with Employer Match

 Work-Life Balance & Perks

• Summer Half-Day Fridays (Memorial Day-Labor Day)

 Purpose-Driven Work

• Make a real difference in people's lives and in your community every day

Project for Pride in Living, Inc. is an Equal Opportunity Employer.  In compliance with the Americans with Disabilities Act, the organization will provide reasonable accommodations to qualified individuals with disabilities and encourages both prospective and current employees to discuss potential accommodations with the employer.