Director of Project Management
|Department: ||National Trust Community Investment Corporation |
|Location: ||Washington, DC |
National Trust Community Investment Corporation (NTCIC) enables tax credit equity investments that support sustainable communities nationwide. NTCIC places qualified federal and state historic tax credits (HTC), new markets tax credits (NMTC), solar tax credits (ITC) and low-income housing tax credits (LIHTC).
Perform a variety of real estate investment activities for the National Trust Community Investment Corporation. Underwrite and manage closing process for prospective historic tax credit, New Markets tax credit and private equity investments identified by originators after a letter of intent has been executed. Provide leadership and oversight to Project Managers. Assist with the review of Project Manager work product and negotiation of operating partnership agreements. These investments may include debt and equity investments in multi-family residential, commercial and mixed-use historic rehabilitation projects throughout the United States involving Historic and/or New Markets tax credits or private equity. Prepare investment committee reports and investor investment approval forms/reports. Present investment opportunities to internal management, investors, and NTCIC’s Board of Director’s Investment Committee.
- Manage independent project closings (same number, or greater, than project management staff): underwriting, investment committee memorandums and presentations, closings, project hand-off to asset management (70%). Director of Project Management will be responsible for project closings that are more complicated and/or have tighter time constraints.
- Supervise and provide guidance to Project Managers (30%).
- Work closely with Managing Director to provide quality project underwriting, efficient closing processes, timely and productive communication, and keep the originations effort consistent with varying investor closing requirements and changing market requests.
- Lead weekly project management pipeline meetings.
- Manage pipeline and revenue projection reports.
- Oversee staff’s preparation of Investment Committee Memorandum and provide critical feedback prior to internal review.
- Coordinate Investment Committee meeting dates (internal review and Investment Committee presentation); schedule meetings.
- Update XIRR Model, due diligence checklists, and letter of intents to stay current with market.
- Monitor and manage investors’ investment requirements, forms, underwriting standards, and approval processes. Identify key real estate underwriting risks and provide solutions/mitigations.
- Create and review financial models.
- Calculate investor returns.
- Perform detailed guarantor analyses.
- Confirm structure conforms to tax credit laws and guidance.
- Review and critique project market studies and appraisals.
- Review and analyze developer projections and budgets. Make adjustments consistent with NTCIC and outside investor underwriting and credit policy.
- Collect all due diligence consistent with closing checklist.
- Prepare and present underwriting reports for Investment Committee approval.
- Serve as liaison between outside investor and developer transaction team.
- Perform duties on multiple transactions at any given time with a strong commitment towards meeting deadlines.
- Provide solutions oriented focus with the ability to take initiative and think independently.
- Work with and manage outside counsel to close transactions, control expenses, and lead/participate in weekly closing calls.
- Communicate clearly with identified investment or reputational risks. Confidently suggest changes to the deal that would mitigate these risks.
- Keep Acquisitions Manager, Managing Director, and other senior management apprised of closing timeline, delays, and risks.
- Provide transition memos to asset management.
- Assist with special acquisitions projects.
- Bachelor’s degree with emphasis in real estate or finance (or equivalent work experience) and either a master’s degree in business, finance or real estate (or equivalent) or more than 8 years of experience.
- At least 8 years of real estate investment analysis/underwriting experience.
- At least 3 years of supervisory experience.
- Strong financial analysis and spreadsheet (Excel) skills required. Examples to be provided upon request.
- Excellent verbal and written communications skills required. Writing samples to be provided upon request.
- Experience in complex urban subsidized housing, commercial real estate finance, tax credit syndication and/or community development finance.
- Experience in legal, tax and accounting aspects of tax credit projects preferred
- Knowledge of the Historic and New Markets tax credits, tax credit ownership structures and the historic tax credit certification process preferred.
- Demonstrated ability to work well independently and in a team setting.
- Occasional travel require
- Ability to manage multiple projects with various deadlines while leading a team.
The National Trust Community Investment Corp. is an equal opportunity organization and does not discriminate on the basis of race, color, religion, national origin, sex, age, sexual orientation, veteran status, or disability. The National Trust Community Investment Corp. actively seeks opportunities to include members of these groups in its programs and activities.