Director, Asset Management

About The Company

Built on a foundation of integrity, respect, and commitment, JPI stands out as one of the most active real estate developers and builders in the nation.  For more than 35 years, JPI has designed and developed communities with best-in-class homes and amenities. JPI is committed to data-driven management and continuous improvement. Its team of experts utilizes data – including unparalleled market research, proven business processes, and proprietary models – to ensure that every decision is strategic, focused, and produces exceptional multifamily communities with the best risk-adjusted returns. More than just great communities, JPI is focused on leaving a lasting impact on the communities where we build and is continually committed to “Building What Matters.”  JPI operates as a subsidiary of Sumitomo Forestry, which is recognized as one of the largest home builders in the United States.

About the Job.

The Director, Asset Management is expected to engage in any or all of a broad range of responsibilities across the real estate development and construction project lifecycle. The position demands significant technical input and decision-making in relation to JPI projects, as well as the leadership and management of people in the Development Team. The Director, Asset Management, will typically be responsible for one or more of the following development disciplines:

• Development Planning
• Land Acquisition and Entitlement
• Financial Modeling
• Project Close
• Investment Ownership

Essential Functions & Responsibilities

• Oversee property build processes, including monthly funding requests and AHJ compliance requirements.

• Construction owner’s rep support

• Evaluate and respond to PCO requests and RFIs requiring owner input.

• Coordination of outside investor approval on decisions when applicable.

• Ownership of project budgets and construction finance close-outs.

• Oversight of LIHTC inspection and compliance requirements.

• Lead PSR/OAC meetings.

• Manage property sales, including broker selection, property marketing, buyer negotiation, and due diligence.

• Conduct sell/hold analysis and obtain IC approvals.

• Manage investor communications, including site tours and quarterly updates.

• Execution of refinance transactions. Oversee lease-up and leasing operations, including pricing strategy, market positioning.

• Select property managers (PMs) and execute PM agreements.

• Handle PM onboarding and pre-lease-up activities.

• Engage with AHJs for ongoing compliance of operating assets.

• Develop & implement asset management business plans.

• Handle loan conversions, cost certificates, and cost segregation reports on LIHTC deals.

Other Duties and Responsibilities:

• Other duties as assigned.

Education, Work Experience, and Physical Requirements

• A Bachelor’s Degree in Business, Finance, Urban Planning, Accounting, Real Estate, Engineering, Math or related field required.  Graduate degree and/or relevant professional certifications encouraged.

• Demonstrated experience in entitlements, executing development opportunities, working with capital partners, market analytics, asset management, property operations, and strong negotiation skills.

• Minimum of 8 years’ experience in Real Estate development, including significant multifamily development experience.

Why work for us?
 

We have a 35-year track record of developing multifamily communities with responsibility, accountability, and integrity.  Our stated purpose is to:

• Transform Building

• Enhance Communities

• Improve Lives

 

JPI has an ambitious and exciting vision for how we will achieve this, which makes for a positive and dynamic work environment, with many opportunities for personal development and growth.  As well as our highly competitive offering of compensation and benefits, we are committed to:

• Transformative careers in a transformative company

• Comprehensive training and development

• Promotion from within at all le