What you’ll do:
The Investment Manager will be part of the acquisitions group, responsible for leading the underwriting and closing of the Company’s LIHTC equity investments:
- Completing the financial modeling of low-income housing tax credit investment partnerships, taking into account financial structure and pricing, sources and uses of construction, detailed underwriting analysis of the real estate market, rents and expenses, tax concepts, and stress scenarios.
- Preparing and/or reviewing Letters of Intent for issuance to developers.
- Preparing deal packages for consideration by Credit and Investment Committees.
- Underwriting multifamily developments financed with affordable housing tax credits,
- Preparing the detailed investment summary narratives and present tax credit investments to investment committee with the ability to outline transaction merits, key risks and mitigants, the transaction structure, the real estate market, and pricing.
- Reviewing and negotiate the partnership agreement and other legal documents.
- Reviewing due diligence, and ensure other members of the deal team are addressing their assigned responsibilities.
- Bringing resolution to tax issues, and coordinate with outside counsel.
- Assisting the Investor Relations department with obtaining answers to investors’ or third party due diligence providers’ questions and provide assistance throughout the sales process.
- Conducting real estate site visits with Developer or Investor partners.
- Closing of tax credit investments, working with internal team members to collect and review due diligence, and coordinate third party report collection and be responsible for the review or facilitating the satisfactory review of the reports.
- Coordination of project closings with attorneys, accountants, developers and third party consultants.
- Supporting project teams with special projects as needed.
- Establishing and/or help to maintain good working relationships with our LIHTC
What we’re looking for:
- Bachelor’s degree in Finance, Accounting, Real Estate, Urban Planning or related field.
- Minimum two years of directly related experience in affordable housing development or finance; preferably with real estate underwriting.
- Knowledge of real estate terminology and concepts preferred; basic knowledge of LIHTC and/or community development lending a plus.
- Strong financial, analytical, relationship management, and writing skills.
- Outstanding analytic and organizational skills, a high degree of intellectual curiosity.
- Ability to balance competing priorities and tight deadlines with limited oversight.