Director of Asset Management

Salary: $140,000.00 - $170,000.00 salary, exempt

Who We Are

Founded in 2004, Brilliant Corners provides innovative housing and housing-related services to those transitioning from or at risk of homelessness or institutionalization. We develop, own, and manage multi-family supportive housing and licensed residential care homes. Additionally, we implement a broad array of scattered-site, one-on-one supportive housing, and clinical case management programs through partnerships with developmental services, homeless services, veteran services, and health care sectors.

In short, we do good work.

We have offices statewide with a staff of passionate people. While we are growing rapidly, we are also selective: We’re seeking inspired, talented people who want to be effecting profound change and who have fun doing it.

Our Real Estate Division

Brilliant Corners' Real Estate Division develops, owns, and manages supportive housing for vulnerable, extremely low-income Californians. The division includes over 100 employees, with teams dedicated to the development and management of licensed residential care homes for people living with developmental disabilities and of multifamily permanent supportive housing. Our licensed residential care portfolio consists of over 240 single-family homes leased to on-site service providers in a mix of “full-service” and modified triple-net leases, with another 40+ homes in development, comprising the largest portfolio of nonprofit-owned, deed-restricted community-based housing for Californians with intellectual and development disabilities transitioning or deflected from institutional settings. Our growing multifamily permanent supportive housing portfolio consists of two small sites in San Francisco and LA, plus four new LIHTC and Homekey developments in Los Angeles County totaling 248 units of permanent supportive housing, with lease ups anticipated in 2023, 2024, and 2025. Our current assets include approximately $250MM in real estate owned.

Our Asset Management Vision

Brilliant Corners is seeking a Director of Asset Management to lead the build-out of in-house asset management capacity in advance of the sequential opening of several multifamily permanent supportive housing projects in Los Angeles County commencing in 2024. This is an exciting opportunity for a proven asset management leader to advance and shape our asset management vision, strategy, and team, with the overarching goal of supporting both our multifamily and licensed residential care home portfolios.

Position Summary

The Director of Asset Management is responsible for assembling and leading Brilliant Corners' new Asset Management department. Together, and in collaboration with the Real Estate division and our Finance team, they will oversee our robust and diverse housing portfolios, including future developments, predeveloped and long-standing properties. Responsibilities include credit monitoring, risk analysis, loan administration, underwriting, and more. The Director trains, manages, and coaches Asset Managers to ensure quality execution of these responsibilities for their portfolios. The Director of Asset Management charged with ensuring the implementation of best practices in asset management, informed by the principles of permanent supportive housing (PSH), person-centered housing, housing first, and CMS Home and Community-Based Waiver guidelines, resulting in fiscally sound, regulatorily compliant, and vibrant supportive housing communities. In addition to overall responsibility for asset management, the Director is responsible for implementing asset management systems, develop policies and procedures; regulatory compliance and funder reporting; resident, service provider, and community relations; and quality assurance. The Director will also work with the leadership team to position Brilliant Corners for new real estate opportunities.

Reporting

The Director of Asset Manager may report to the Chief Operating Officer or the Chief Financial Officer. The Director of Asset Manager will supervise 1 full-time Asset Manager to be hired immediately and may recommend additional staff if and when needed to provide asset management for the growing residential care home and PSH portfolios. The Director of Asset Management will maintain strong dotted line relationships with the Chief Executive Officer, the Director of Multifamily Development, the multifamily property management team, and the Director of Residential Care. The Director of Asset Management will coordinate with other real estate leaders to provide adequate reporting to the Project Review Committee of the Board of Directors.

Essential responsibilities

Manage to Mission Outcomes

• Assure owner, case manager, and funder