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Multi-Family Real Estate Portfolio Manager

Royal Bank of Canada Chicago, Illinois
family real estate manager tax credit management real estate tax credits credits affordable housing analysis investment banking capital
April 17, 2024
Royal Bank of Canada
Chicago, Illinois
FULL_TIME

Job Summary


Manages and monitors investment portfolios and transactions in an investment banking environment. Applies experience and seasoned knowledge, skills, and practices to perform a variety of assignments.


Job Description


What is the opportunity?


RBC Capital Markets 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 Portfolio Manager is responsible for maintaining a portfolio of real estate assets invested through the Section 42 (LIHTC) affordable housing tax credit program and/or the historic tax credit program to ensure the continuous delivery of tax credit benefits and passive losses.


What will you do?


  • Assess project and partnership risk factors as they pertain to compliance with Section 42 (LIHTC) provisions, terms of partnership agreement, loan documents, LURAs, QAPs, and tax credit application.


  • Calculate annual tax credit amount from final cost certification and 8609s and calculate first year credit delivery from actual lease-up figures.


  • Manage the disbursement of equity for the assigned portfolio.


  • Provide oversight of project by analyzing performance data on a monthly, quarterly, or annual basis as applicable.


  • Complete annual property inspections or more frequently as needed.


  • Expedite the receipt of financial and operational information from the lower tier partnerships on a monthly, quarterly and annual basis.


  • Initiate communication with General Partners to ensure timely submission of tax returns and audits.


  • Review the annual operating budget for each property in the assigned portfolio.


  • Communicate issues that may place a project at risk to appropriate leadership in Asset Management, and develop an action plan that will help mitigate the risk and protect the investment.


  • Assist with the disposition of assets at the end of the affordable housing tax credit period or other dissolution event.


  • Participate in team initiatives.


  • Maintain a thorough and up-to-date record of property activity and document management in the database.


  • Maintain familiarity with regional and local economic and demographic trends within portfolio markets.


  • Develop and maintain relationships with General Partners, management agents, lenders, contractors, third-party monitors, investors, local and state housing agencies, and others in the LIHTC industry.


What do you need to succeed?


  • Bachelor’s Degree and five years’ experience in real estate, accounting, finance, or property management.


  • Key skills include real estate concepts, financial analysis, and strong organization and prioritization.


  • A strong interest in real estate investment and/or affordable housing.


  • Proficiency in MS-Outlook and MS-Office applications.


  • Excellent verbal and written communication skills.


  • Prior experience as a LIHTC Asset Manager is highly preferred.


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.


A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation, commissions, and stock where applicable

Leaders who support your development through coaching and managing opportunities


  • Ability to make a difference and lasting impact


  • Work in a dynamic, collaborative, progressive, and high-performing team


  • Opportunities to do challenging work


  • Opportunities to building close relationships with clients


Job Skills


Derivatives, Investment Banking Analysis, Investment Consulting, Investment Performance Measurement, Investment Risk Management, Investments, Investments Analysis, Portfolio Management, Product Services, Risk Control


Additional Job Details


Address:


600 SUPERIOR AVENUE:CLEVELAND


City:


Cleveland


Country:


United States of America


Work hours/week:


40


Employment Type:


Full time


Platform:


Capital Markets


Job Type:


Regular


Pay Type:


Salaried


Posted Date:


2024-03-11


Application Deadline:


I
nclusion and Equal Opportunity Employment


At RBC, we embrace diversity and inclusion for innovation and growth. We are committed to building inclusive teams and an equitable workplace for our employees to bring their true selves to work. We are taking actions to tackle issues of inequity and systemic bias to support our diverse talent, clients and communities.



We also strive to provide an accessible candidate experience for our prospective employees with different abilities. Please let us know if you need any accommodations during the recruitment process.


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Expand your limits and create a new future together at RBC. Find out how we use our passion and drive to enhance the well-being of our clients and communities at jobs.rbc.com.


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