Vice President, Asset & Portfolio Management

Job Summary 
The VP, Asset & Portfolio Management oversees a small team of asset management professionals and works in partnership with the property management team to drive NOI. The VP will be responsible for asset managing a growing portfolio of multiple funds.

Salary range: $225,000-$275,000 depending on experience

ABOUT THE COMPANY

SoLa Impact is an award-winning social impact, development, and investment company focused exclusively on creating high-quality affordable housing in low-income, Black and brown communities. Over the last several years, we have raised almost $500 million in equity --- allowing us to deploy well over $1.5 billion – toward addressing the housing crisis in Los Angeles and throughout Southern California. Founded with the belief that smart investment can drive socioeconomic change, SoLa Impact focuses on creating sustainable, dignified living environments that empower residents and uplift neighborhoods. Only five years after starting its first ground-up project, SoLa Impact was recognized as the 16th largest developer in the nation, and the largest developer based in California by the National Multifamily Housing Council. 

As part of SoLa Impact's broader mission to create social and economic opportunities, our innovative co-working and entrepreneurship hub The Beehive serves as a catalyst for change, empowering local entrepreneurs to build sustainable businesses and contribute to the revitalization of their neighborhoods. At SoLa Impact, we believe that socioeconomic advancement is a right, not a privilege, and we are committed to making this vision a reality. Join us and be part of a high-achieving team that not only focuses on building affordable housing, but creating opportunities and hope for a better future.

Requirements

Responsibilities 

● Works closely with the Property Management team to oversee the budget process, including annual budget preparation and performing periodic review and adjustment.

● Ensure timely and accurate monthly reporting to ownership, lenders and other stakeholders.

● Provide leadership, mentorship, and career development for team members.

● Responsible for overall portfolio management and profitability.

● Analyze property financials and performance metrics in pursuit of maximizing revenue and minimizing expenses.

● Twice annually (mid-year/end of year) articulates ‘storytelling’ narratives and related financials for investor reporting.

● Assist in the development and monitoring of strategies to maximize asset values across multiple funds.

● Problem-solve portfolio level issues through research, analysis, and implementation.

● Assist in conducting due diligence and financial modeling for new acquisitions and dispositions.

Qualifications

● Bachelor’s Degree, or cumulative years of experience in property and/or asset management enough for someone to have a deep understanding of the field.

● At least 15 years of progressive asset and property management experience (of which 5 have been managing a team) including, Section 8, Low-Income Housing Tax Credit (LIHTC) and Housing and Urban Development (HUD).

● Familiarity with affordable housing market dynamics.

● National compliance certification and State of California Department of Real Estate Brokers License (the broker’s license can be earned during the first year of employment with SoLa Impact.

● Experiences working in a multi-faceted, matrixed, and quickly growing organization where change management is embraced in service to social impact.

● Exceptional interpersonal, verbal, and written communication skills

Benefits

SoLa Impact offers a comprehensive benefits package that includes paid vacation, medical, dental, vision, and life insurance, as well as pet insurance, sick leave, 10 paid holidays, and bereavement days. This package is designed to provide employees with a range of important benefits that help to support their physical and emotional well-being, while also providing financial protection and peace of mind.

At SoLa Impact, we believe work environment, culture, and the opportunity to learn and grow are key elements when considering a new job. We are just the right size to provide the resources and support you need without the bureaucracy of a large corporate environment. We foster a family-friendly and supportive workplace, collaborative and employee-focused with an emphasis on quality, integrity, trust, and accountability. We are looking to bring someone on board as soon as possible. We provide a rewarding and challenging environment. We expect a lot, but give a lot in return. Strongly prefer candidates local to Los Angeles as no relocation assistance will be provided. All qualified candidates will be contacted directly.

SoLa Impact is an Equal Opportunity Employer. SoLa does not discriminate on the basis of race, religion, color, sex, gender identity, sexual orientation, age, non-disqualifying physical or mental disability, national origin, veteran status or any other basis covered by appropriate law. All employment is decided on the basis of qualifications, merit, and business need.