Director of Asset Management, Real Estate Transactions (Foster City, Oakland)

Director of Asset Management, Real Estate Transactions

The Director of Asset Management, Real Estate Transactions reports to the Vice President of Asset Management and serves as a member of the Senior Leadership Team at MidPen. The Director contributes to a work environment that enhances staff experience and organizational impact while overseeing assigned projects within MidPen's stabilized portfolio, including rehabs, loan modifications, refinancing, investor buyouts, grants, rebate programs, and other capital events and transactions. This role requires significant coordination with internal and external partners to ensure effective communication, planning, and execution.

The Director supervises the Real Estate Transactions Team, including hiring, performance management, training, professional development, and achievement of department and individual goals. The Director fosters cross-functional relationships, identifies opportunities to improve operational efficiency, and continuously enhances processes, policies, and interdepartmental collaboration to support team success and organizational goals.

Responsibilities:

• Hire, train, and supervise personnel to promote a positive work environment for staff, ensure teamwork across departments, and deliver on project assignments and goals in a timely and professional manner.
• Create and communicate expectations for staff and hold staff accountable for results.
• Leverage internal and external relationships to remove barriers for the team to ensure efficiency and success.
• Support the team in its work while also providing sufficient autonomy and delegation to permit growth and empower staff.
• Demonstrate leadership that extends beyond the Transactions Team to enhance the experience of other MidPen staff.
• Formulate short- and long-term strategic plans for the portfolio.
• Lead the evaluation of potential projects and financing sources and present candidates for consideration and integration into project pipelines.
• Monitor available Requests for Proposals (RFP's) and Notices of Funds Available (NOFA's) for available funds from public lenders, including but not limited to funds for capital improvement projects, refinancing, loan modifications, Housing Assistance Payments (HAP) Contracts, energy grants and rebate incentive programs, and other capital events in the portfolio.
• Complete applications for funding pursuant to RFP's and NOFA's with prior approval and evaluate the impact of proposed projects on short- and long-term cash flow, compliance, rents, and long-term capital needs and make recommendations to the supervisor.
• Prepare materials for and present to Boards and Committees as necessary; obtain required approvals including, but not limited to, memos, reports, and resolutions.
• Develop and maintain positive relationships with all internal and external parties and partners.
• Coordinate with internal parties to secure all required approvals from external stakeholders as required in governing documents and regulations, or as requested by supervisor.
• Manage and lead meetings with key partners, both internally and externally, to ensure adequate communication and feedback.
• Ensure adequate communication with residents and on-site staff regarding any projects which may affect the community or staff.
• Identify and/or execute on any available loan modifications to improve property performance and/or cash flow to MidPen.
• Evaluate properties for refinancing and debt and regulatory restructuring to provide recommendations to the Vice President.
• Ensure the successful execution of financing and loan modification transactions on budget and according to approved project/closing schedules.
• Maintain accurate project budgets, cost tracking, and project schedules; collaborate with internal staff and external experts to determine the highest and best use of available funds and formulate scope and budget accordingly.
• Ensure capital projects adhere to MidPen building guidelines and participate in the process of updating building guidelines and providing recommendations based on research and experience.
• Confirm all warranties are collected, documented, and provided to staff, including any Operating & Maintenance (O&M) Manuals and instructions.
• Work with Construction Management/Facilities to ensure capital improvements are completed timely, within budget, and according to contracts and project plans; lead design, building permits, and other construction-related processes; negotiate with contractors and consultants to ensure optimal pricing and service.
• Ensure timely draws of loan and grant funds and pursue rebates as applicable.
• Monitor options and right of first refusals and evaluate purchase prices for the acquisition of investor interests.
• Coordinate with investors to execute on the acquisition of interest, including meeting all requirements and obtaining approvals of stakeholders; document transactions and coordinate with the Accounting department as necessary to ensure proper booking and records.

Qualifications:

• Demonstrated leadership and management experience with proven results.
• Proficient in Microsoft Office Suite (Excel, Word, PowerPoint).
• Ability to prepare financial feasibility analysis and strategic plans, conduct research, and prepare narrative reports and proposals.
• Excellent reading, written, and verbal communication skills.
• Ability to work in a fast-moving, flexible environment; maintain priorities; and manage complex projects.
• Self-starter with minimal need for guidance from manager/supervisor.
• Commitment to the Mission and Values of MidPen.
• Must have reliable means of transportation to travel throughout MidPen's geographic footprint, as needed.
• Constantly perform desk-based computer tasks; frequently sit; occasionally stand/walk, reach/work above shoulders, perform light or fine manipulation, grasp forcefully, use a telephone, sort and file paperwork, and lift, carry, push, or pull objects weighing up to 15 pounds; rarely twist, bend, stoop, squat, kneel, or crawl.

Education and Experience:

• Bachelor's Degree in Finance, Community Development, Economics, Urban Planning, or related field plus eight years' progressively responsible experience in low-income housing development, real estate transactions, or asset management, including at least three years of people management experience, or an equivalent combination of education and relevant work experience.

Pay Range: $175,000.00 to $195,000.00 Annual Salary - Pay based on applicable experience and qualifications

Auto allowance provided

Benefits and Compensation (see here for full details):

• Health Insurance
• Dental, Vision, Life & Disability Insurance
• 403(b) Retirement Investment
• Employee Education Reimbursement Program
• Paid Parental Leave
• FSA for Childcare, Medical, and Commuter Benefits
• EAP Program
• Pet Insurance
• Paid Time Off
• Company Holidays
• Wellness Days

Equal Opportunity Employer

MidPen Housing Corp. provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.

We are committed to providing an inclusive and accessible hiring process. If you need a reasonable accommodation for any part of the application or interview process, please notify your recruiter. Consistent with its obligations under the law, MidPen Housing Corp. will provide reasonable accommodation to any employee with a disability who requires accommodation to perform the essential functions of his or her job.