Assistant Asset Manager at MISSION ECONOMIC DEVELOPMENT AGENCY

San Francisco, California, United States -

Full Time

Start Date

Immediate

Expiry Date

12 Jun, 26

Salary

80000.0

Posted On

14 Mar, 26

Experience

2 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Asset Management Strategies, Financial Performance Monitoring, Benchmarking, Investor Relationships, Lender Relationships, Acquisition, Refinancing, Rehabilitation, Feasibility Analysis, Financial Proforma Skills, Excel Proficiency, Google Drive/Docs Proficiency, Public Speaking, Written Communication, Project Management, Interpersonal Skills

Industry

Non-profit Organizations

Description

Description Title: Assistant Asset Manager Reports to: Chief Real Estate Officer Pay Range: $72,100 - $80,000 Location: San Francisco, CA. This is a hybrid position, and candidates must be able to work at least four days per week in our San Francisco office. JOIN OUR MEDA TEAM Mission Economic Development Agency (MEDA) is a non-profit organization dedicated to promoting economic development and job creation in San Francisco's Mission District. Founded in 1973, MEDA has a long history of serving the community by providing access to capital, technical assistance, and training programs for entrepreneurs and small businesses. We also partner with individuals and families to build lasting prosperity through housing stabilization, small business support, workforce development, financial coaching, and education support. Rooted in San Francisco’s Mission District, we’ve seen how economic opportunity transforms lives—and we’re expanding that impact to communities nationwide. YOUR CAREER OPPORTUNITY Mission Economic Development Agency (MEDA) is looking for a ready candidate to be part of a new team to develop MEDA’s housing and commercial real estate assets. MEDA is establishing a Community Real Estate program to fulfill our long-term vision of building vibrant, diverse, proud, and forward-thinking communities in which residents can call San Francisco their permanent home and own their own homes and businesses. As part of a dynamic organization in the Mission district serving the needs of generations of Latino families, we expect the right candidate to be passionate about building community value through the development of residential and commercial buildings in the face of intense development pressures. This role is responsible for planning and monitoring the operational and financial performance of MEDA’s growing portfolio, benchmarking, investor and lender relationships, and acquisition, refinancing, and rehabilitation necessary to preserve the portfolio. They work closely with the Financial Asset Manager and Chief Real Estate Officer to identify and implement long-term strategies to improve property performance to meet organizational objectives for asset building, sustainability, community, and economic development. The diverse portfolio will include occupied-rehabilitation of multi-family and small buildings, new construction, as well as commercial buildings. Reporting to the Chief Real Estate Officer, the Assistant Asset Manager will be expected to be a critical member of the team to develop properties. Activities and tasks range from feasibility analysis through completion of construction and transition to operations. DUTIES & RESPONSIBILITIES Implement asset management strategies to maximize the long-term value of the Small Sites Program (SSP) portfolio while ensuring optimal financial performance and operational efficiency. Represent the owner’s operational interests in joint venture partnerships with development project manager staff. Manage property management relationships, monitoring performance, reviewing budgets, financials, and audits to ensure alignment with owner objectives. Prepare financial evaluations and recommendations for portfolio-wide initiatives, including development proforma budgets, benchmarking, and utility analysis. Monitor all aspects of Tax Credit portfolio performance, including proforma status, equity accounts, future buy-outs, debt refinancing, and capital planning. Research partnership agreements, financing documents, regulatory agreements, and tax returns to determine ownership objectives. Provide constructive input to property management when adverse performance trends arise and actively participate in developing corrective management plans. Coordinate and implement all aspects of refinancing or partnership buyouts, including rehabilitation and resyndication from funding through final investor payment. Prepare and submit financing packages to funding sources and represent the corporation before agencies to secure approvals. Respond to various requests for information from Regulatory Agencies, lenders, and investment partners. Coordinate and monitor timely and accurate completion of Property Tax Welfare Exemptions. Perform other assignments and duties as assigned. YOUR KEYS TO SUCCESS To perform successfully in this role, you will need to leverage these key qualifications: Education: Bachelor’s degree in real estate, finance, business, or a related field. Experience: 2–4 years in affordable housing, property management, or real estate asset management. Technical Skills: Financial pro forma skills and proficiency in Excel. Proficiency in Google Drive/Docs. Communication: Strong public speaking, verbal, and written communication skills. Project Management: Ability to work within project teams, supervise consultants, and manage multiple tasks with concurrent deadlines. Interpersonal Skills: Proven ability to maintain cooperative relationships with diverse stakeholders, including public officials, vendors, and low-income residents. Mission Alignment: Deep commitment to providing long-term affordable housing and organizing low-income communities for social change. Logistics: Ability to travel to community or resident locations within a 10-mile radius of the office. Preferred: Spanish fluency is highly preferred; a strong working knowledge of San Francisco’s Mission District is a plus. YOUR MEDA EXPERIENCE Do meaningful work in an innovative workplace while being challenged for your professional growth. Joining MEDA means having meaningful experiences that develop achievers – from across the Mission neighborhood and from within our organization. We find meaning and fulfillment in our work as we see our community thrive and are driven to achieve better outcomes by challenging ourselves to innovate in our ways of working. We offer a market-leading benefits program that reflects MEDA's values and mission. We invest in people's lives and support our own people's health and financial well-being. Our core benefits include: Comprehensive medical, vision, and dental insurance for employees and their dependents – 100 percent covered by MEDA 401(k) plan for employees Generous paid time off - with a minimum of 20 days for new employees Employee Assistance Program that offers free financial or legal counseling to employees or their families Other forms of voluntary benefits Applicants must be authorized to work for ANY employer in the U.S. We are unable to sponsor or take over sponsorship of an employment Visa at this time.

Responsibilities

This role is responsible for planning and monitoring the operational and financial performance of MEDA’s growing portfolio, including benchmarking, managing investor/lender relationships, and overseeing acquisition, refinancing, and rehabilitation activities. The Assistant Asset Manager will work closely with leadership to implement long-term strategies aimed at improving property performance to meet organizational objectives for asset building, sustainability, and community development.