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LIHTC Acquisitions Manager

Published on July 28, 2020
Organization: NDC Corporate Equity Fund

 

National Development Council (NDC)

The Acquisitions Manager will report to the Director of Acquisitions and Underwriting and will work closely with the Fund Closing Manager as well as the Asset Management team to originate, underwrite, and close Low Income Housing Tax Credit investments. Business development skills and sourcing affordable housing developer relationships is a core component to this position. In addition, understanding of investment real estate, ability to perform complex financial modeling, and a sound understanding of the Low Income Housing Tax Credit program is essential to success in this role.

Job Description

  • Originate community development focused low income housing tax credit equity investments and historic rehabilitation tax credit equity investments throughout a national footprint with focus on the West and Northwest portions of the United States.
  • Maintain business development efforts thru developer prospecting and manage data relating to prospective clients.
  • Complete full underwriting analysis of developments financed with low income housing tax credit equity and/or historic rehabilitation tax credit equity by preparing financial projections to determine pricing, yield, cash flow, reserve adequacy, as well as front end and back end partnership issues.
  • Collaborate with Investor Relations group to identify potential investors and prepare investment summary memorandums for prospective investors to review.
  • Draft letters of intent for prospective acquisitions and in support of tax credit applications.
  • Take lead role in underwriting of all investments originated from initial screening through closing.
  • Evaluate sponsor and project team experience including analysis and determination of financial capacity.
  • Evaluate, identify and mitigate construction and operating risks through the review of market studies, developer pro formas, appraisals and other third party prepared reports.
  • Prepare and present Investment Committee reports.
  • Support the Investment Closing Manager throughout the closing process by helping to evaluate and negotiate terms and deal points.
  • Maintain relationships with existing clients to ensure their needs are being met.
  • Attend industry related seminars and conferences to ensure knowledge of current market trends in the affordable housing industry.

Essential Qualifications and Characteristics

  • Strong ability to keep track of multiple projects in various stages, manage timelines and assist due diligence collection
  • Well developed verbal and written communication skills, keeps team members informed of progress, overcomes obstacles
  • Comfortable working with and understanding complex modeling spreadsheets
  • Background and strong understanding of real estate documentation, partnership and operating company documentation
  • Background and understanding of customary due diligence items needed in the development of and the investment in real estate
  • Ability to travel, work independently while at home or on the road, and keep remote team members appropriately updated

Qualified candidates can send cover letter and resume to James Poznik at jpoznik@ndconline.org.