ABOUT THE JOB:
Under the direction of the SVP Acquisitions, an underwriter will have primary responsibility for underwriting of Low Income Housing Tax Credit Real Estate Equity Investments. Managing the acquisition of limited partnership interests in affordable housing developments on behalf of Alliant. The Project Manager will be responsible for overseeing and reviewing all facets of the development.
- Analyze and underwrite property Net Operating Income (NOI) and market risk identifying the strengths, weaknesses, risks and mitigates on potential acquisition prospects.
- Answer auditor and investor underwriting questions.
- Performa market research and analyze demographic data as requested by upper management.
- Analyze market studies and expenses for originators in order to determine market feasibility of potential new deals.
- Keep an up-to-date knowledge of economic conditions across the United States.
- Assist Asset Management with market research and other requests as the need arises.
- Perform site inspections when requested.
- Conduct all re-tenanting analysis.
- Completing the underwriting approval packages for LIHTC investment. This package includes, but is not limited to, underwriting the development pro forma, real estate, market, and IRS Section 42 compliance regarding rents..
- Working in a team environment that will require effective coordination and communication with the customer, internal closing teams, risk management, and asset management.
- Interacts with third party market study professionals as needed to coordinate the drafting, collection and review of documents necessary to develop the underwriting proforma and mitigate any risks presented.
- Negotiate Market Study contracts annually with VSI and other Market Study providers.
- Maintain good working relationships with market study providers.
- Answer questions in regards to fellow underwriters ongoing job training.
- Other job duties as assigned or requested.
- Knowledge of key aspects of real estate development, finance, affordable housing, land use and entitlement, property due diligence and acquisition, and site planning and design.
- Minimum two to four years experience in underwriting and structuring real estate projects with a mortgage bank or insurance firm preferably in the low income housing tax credit (LIHTC) field or commensurate work related experience including public subsidies, other affordable housing programs considered a plus.
- Must have an extensive multifamily experience.
- Ability to initiate and maintain effective and cooperative working relationships with team members, government agencies, consultants, lenders, investors, and developers.
- Strong analytical and problem solving skills; ability to identify and resolve issues.
- Good client and public presentation skills; excellent oral and written communication skills.
- Exceptional organizational skills, highly attentive to detail and able to perform tasks with limited supervision in a time sensitive work environment.
- Good independent judgment is extremely important and the ability to make quick decisions in amidst of a chaos of details is required.
- Maintain the strictest confidence when handling confidential and non-routine information and matters.
- Communicate with co-workers, management, clients, and others in a courteous and professional manner.
- Conform with and abide by all regulations, policies, work procedures, and instructions.
- Masters degree in Business Administration, Public Administration, Finance or City Planning with a concentration on Real Estate or Finance and/or experience in real estate and/or affordable housing. A masters degree or bachelors degree with an MBA is preferred
- Three to five years of experience in finance, real estate development, urban planning, affordable housing or related field, or a graduate degree in a related field and one to three years experience in finance, real estate development, urban planning, affordable housing or related field.
- Computer literacy and experience working with Microsoft Office software programs and Adobe.
- High level of proficiency with Microsoft Excel.
- iManage experience, a plus.
- Strong oral and written communication skills.
OTHER JOB INFORMATION:
Alliant offers a competitive salary, reflecting a candidate’s experience and education, along with a comprehensive benefits package.
Alliant was founded in 1997 to assist in meeting America's critical need for affordable rental housing by structuring and syndicating investments utilizing the Low-Income Housing Tax Credit program. Today Alliant is among the nation’s top sponsors in syndication volume and has an unparalleled track record of success.
With offices nationwide and a dedicated, growing team of experienced and well-trained commercial real estate, legal and tax professionals, Alliant provides the highest level of fully integrated real estate and investment support services.
ALLIANT IS AN EQUAL OPPORTUNITY EMPLOYER