Asset Management Intern (Fall 2016)
Service Term: 10-12 weeks during Fall Semester 2016: Sept – Dec.
Weekly Hours: 15-20 hrs. per week – paid at $10/hr
Location: Silver Spring, MD (near metro stop and bus station)
Who is CPDC? Community Preservation and Development Corporation (CPDC) is a leader in the affordable housing industry. We invest in real estate, people, and communities. Our mission is to develop vibrant communities through innovation and partnerships.
Over the last 26 years, CPDC has established an unparalleled reputation for revitalizing communities across the Greater Washington, DC Metropolitan Region. CPDC has offered affordable housing to over 9,000 residents across more than 25 properties (4,300 units) in Washington, DC, Virginia, and Maryland. In these communities, residents have established tenant associations, organized voter registration, improved their school performance, achieved their GEDs, improved their employability, help to establish electronic villages, and created safe and more secure communities.
Purpose: The Asset Management team works to ensure the achievement of property-level goals that maximize the performance of CPDC’s portfolio. The Intern will work with the Asset Management team on projects that enhance the capacity and quality of asset management activities in support of CPDC’s mission.
Primary responsibilities may include:
- Assist in developing tools and methods to track and analyze property and portfolio performance.
- Liaise with Real Estate Development and Community Impact Strategies teams regarding new development opportunities, resident support services and community development initiatives.
- Work closely with asset managers to evaluate and improve effectiveness of third party fee managers
- Participate in site visits, file audits and other processes in support of compliance with federal and local housing program requirements (LIHTC, Section 8).
- Complete special project(s) as assigned in one or more of the following key areas: strategic planning, budget / pro forma review, portfolio analysis, and property management assessments.
- Conduct initial financial review and analysis of CPDC properties to elevate operational and financial issues and trends affecting portfolio performance.
- Assist and shadow asset manager(s) to help with daily needs and learn about affordable housing asset management. Examples of tasks will be reviewing and analyzing property financials and consolidating information at the portfolio level for presentation to senior management, visiting properties and attending interdepartmental meetings.
Qualifications: College graduate student with coursework and/or experience in real estate finance and/or affordable housing. Basic knowledge of financial statement analysis and accounting required. Familiarity with Microsoft Office and proficiency with Microsoft Excel and Access required. Knowledge of Integratec or other real estate asset management software a plus.
Supervision, Training and Support: Orientation to CPDC and its communities. Development of initial work plan and timeline with supervisor related to above tasks. Weekly meetings to review, plan, and provide coaching around various aspects of the internship experience. Participate in staff meetings, external meetings, and trainings as available and relevant to the scope of the position. Participate in an intern program feedback process.
- Witness the affordable housing development process from project selection to construction to asset management and resident engagement.
- Experience the day to day operations of real estate asset management in an affordable housing corporation; understand the federal, state and local policies and programs used in this industry and how they influence operations of a nonprofit developer.
- Gain exposure to the financing tools used in the industry, including Low-Income Housing Tax Credits (LIHTC), HUD financing products and programs (e.g. Section 8), GSE products (e.g.’ Fannie Mae) and typical local government programs.
- Increase awareness and sensitivity regarding affordable housing communities, their residents, and their strengths and challenges.
- Develop skills in real estate financial analysis, asset management and property operations.
- Learn to function in a team environment and collaborate with others through project work, team meetings and other interaction with (or work in support of) multidisciplinary stakeholders including CPDC staff, third party property managers, investors, and other parties.
Submission Instructions: send an email to firstname.lastname@example.org with:
- Applicant resume and cover letter that includes the College/University attending and the degree/program pursuing. Include how the internship will contribute to academic and/or professional goals.
- Identify in the subject line of the email: Asset Management Intern (Fall 2016), and applicant’s first & last name – ie: Janet Smith
CPDC will be accepting submissions through early September 2016 and will review applications as received until the position is filled. Please, no phone calls.
Stay connected: For more information on other volunteer or service member opportunities visit our website: www.cpdc.org/volunteering or complete our interest form to receive opportunity updates and stay connected with CPDC Volunteer Engagement. Contact us at email@example.com with any questions.