Vice President, Asset Management

New York, NY, USA Req #177
Tuesday, April 16, 2024

Sena Affordable Communities (“Sena”) is the LIHTC preservation affiliate of L+M Fund Management (“LMFM”).  Since 2014, the principals of Sena have been instrumental in the acquisition and renovation of over 10,000 units representing $2.8 billion in transactions across numerous markets, including New York’s tristate area, Washington D.C., the West Coast, and the Sunbelt, Gulf Coast, and Midwest regions.  Sena acquires affordable multi-family assets across the U.S.  with the goal to renovate and modernize housing while preserving and extending long-term affordability through the use of Low-Income Housing Tax Credits and tax-exempt bonds.


Since 2010, LMFM has been committed to investing in, acquiring, and preserving workforce, affordable, and mixed-income multi-family housing in high-growth metro areas across the U.S. LMFM invests in and operates workforce and affordable assets on behalf of institutional investors and, to date, has acquired over 20,000 units and $4.7 billion in transactions. LMFM utilizes institutional third-party equity and to date has raised more than $1 billion of total equity across multiple investment vehicles. For more information on LMFM, please visit: http://lmfm.com.


LMFM is an affiliate of L+M Development Partners (“L+M”), which was founded in 1984. L+M is a full-service real estate development firm which develops, invests, constructs, and manages properties with industry-leading innovation. Ranked in the Top 25 on Affordable Housing Finance’s Top 50 Developers list nationally, L+M and its affiliate companies are responsible for over $16 billion in development and investment and have acquired, built, or preserved over 46,000 high-quality residential units in a variety of urban markets nationwide, primarily in New York’s tristate area. Please visit L+M’s website for more information: http://lmdevpartners.com.


Sena is seeking a VP, Asset Management to join an experienced team responsible for growing the LIHTC acquisition and redevelopment business across select markets nationwide.  Sena acquires, rehabilitates, and operates existing affordable housing assets with Low-Income Housing Tax Credits and tax-exempt bonds.


This is a new a position and the selected individual will be expected to act independently and collaborate with the team and senior leadership to design and implement a comprehensive asset management strategy to monitor the performance of the current portfolio while planning to scale the asset management function for the future.


We are seeking a dynamic, highly motivated, and versatile team player who can bring a broad mix of hard skills (e.g., financial reporting, portfolio management, analysis etc.) and soft skills (e.g., consensus building, leadership and ability to excel in community & government engagement) to all interactions.


The position is preferred to be based in New York City. A remote position will be considered for the appropriate candidate.



  • Oversee rapidly growing portfolio of affordable multifamily assets across the county.
  • Take ownership of portfolio and implement business plans in accordance with individual property strategies to create and enhance value.
  • Monitor and evaluate financial operating results to enhance cash flow and profitability by completing monthly financial reviews and reviewing weekly property data.
  • Oversee renovation execution, including initial planning, working with general contractor on delivery timelines, and monitoring impact on residents, leasing, etc. This includes attending ongoing meetings with ownership, architect, and general contractor to ensure timely and quality completion of projects.
  • Collaborate with property management to identify challenges and execute timely and effective solutions. This would include management of budgets, staffing, capex, and other property programs.
  • Work with the investment team to help evaluate potential acquisitions, including location and asset/operations assessments.
  • Conduct regular site visits as needed to include but not limited to review of: curb appeal, status of capex projects and work orders, common area and vacant unit inspections, and personnel issues.
  • Assist in annual operating and capital budget preparation across the portfolio.
  • Oversee and ensure compliance with all regulatory programs associated with individual properties within portfolio.
  • Manage property level risk to minimize property or casualty loss and to protect both the physical plant of the portfolio assets and the Company's reputation.
  • Work closely with and efficiently manage third parties, including Brokers, Property Managers, Property Tax Consultants, Housing Finance Agencies, and Attorneys, to provide clear direction and skill-based leadership in executing on both the portfolio's strategy and the specific asset's business plan.
  • Effectively present information, provide ongoing reporting, and respond to questions from executive management, other company departments, and other stakeholders involved in the property / portfolio.



The ideal candidate will have the following qualifications:

  • Minimum of 7 years of multifamily asset management experience
  • Experience with affordable housing programs (i.e., HUD, Section 8, tax-exempt bonds, and LIHTC) required.
  • Demonstrated success evaluating and implementing strategies to improve property level performance.
  • Self-motivated and proactive with an established track record of working effectively and independently.
  • Institutional asset management background preferred (e.g. acquisition redevelopment, real estate private equity, real estate fund, etc.).
  • Strong financial modeling skills and proficiency in Microsoft Office Suite. Knowledge of Yardi (accounting software) and Procore (construction software) is beneficial.
  • Proven track record of success and leadership, with past accomplishments clearly demonstrating a creative hands-on approach to, and understanding of acquisition redevelopment, property operations, financing, leasing, marketing, investment, and ownership issues.
  • An intuitive and detailed sense of the dynamics and risks of each transaction. This person should have the ability to "look beyond the numbers" at the broader trends and research data to forecast and develop strategies for a variety of investment types under management.
  • A team player, able to work in an entrepreneurial environment, balance changing priorities, and meet deadlines.
  • Excellent interpersonal and communication skills (oral and written).
  • Strong organizational skills and attention to detail.
  • Frequent travel required.

LMFM offers competitive compensation and benefits and tremendous potential with a growing residential real estate developer/builder organization.

LMFM is an equal opportunity employer.  All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status.

Disclaimer: Nothing in this job description restricts management’s right to assign or reassign duties and responsibilities to this job at any time.

Other details

  • Pay Type Salary
  • Min Hiring Rate $218,000.00
  • Max Hiring Rate $262,000.00