What is the opportunity?
RBC Capital Markets – Tax Credit Equity Group (www.rbccm.com/tceg), part of the Royal Bank ofCanada (RBC) firm, is a leading national syndicator of State and Federal Low Income Housing Tax Credits (LIHTCs), Historic Rehabilitation Tax Credits (HRTCs), and New Markets Tax Credits (NMTCs). The Asset Management Analyst is primarily responsible for maintaining a portfolio of real estate assets invested through the Section 42 (LIHTC) affordable housing program and/or the historic tax credit program toensure the continuous delivery of tax credit benefits and passive losses. In addition, they will supportthe Stabilized Asset Management (“SAM”) team’s efforts to provide consistent, creative and proactive oversight of property operations from lease-up through permanent loan conversion resulting in maximized investment return and minimized investment risk.
What will you do?
- Collect, analyze and manage information database financial and leasing performance data on a monthly, quarterly, or annual basis.
- Assess partnershiprisk factors as they pertain to compliance with Section 42 (LIHTC) provisions, terms of partnership agreement and otherpartnership related documents.
- Complete annual property inspections for properties as required.
- Participate in property transition meetings between the asset management work groups as specific benchmarks are achieved.
- Communicate regularly with assigned SAM and the VP of Compliance regarding monthly lease-up progress and achievement of 100% qualified occupancy.
- Assist SAM in the preparation of the Stabilization Analysis Report, DCR Test Report and Perm Loan Sizing Report.
- Assist SAM with calculating first year credit delivery from actual lease-up figures and annual tax credit amounts from final cost certification and 8609s.
- Collection and entry of required database information, including, but not limited to: updating Loan info, Event Dates and property Status.
- Support the Stabilized Asset Management team on any other duties as may be required.
What do you need to succeed?
- Bachelor’s degree from an accredited university in Finance, Economics, or General Business.
- Five years hands-on experience in the leasing and/or successful lease-up of LIHTC multi-family real estate developments.
- Proficiency in data entry into industry software, MS-Outlook and MS-Office applications, specifically PowerPoint and Excel, along with excellent verbal, written, and interpersonal communication skills areessential.
- Ability to understand and analyze a Budget, Balance Sheet and Income Statement.
What’s in it for you?
We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.
Req ID: 148918