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VP Acquisitions- Affordable Housing

Company is confidential
Full Time
Real Estate Field
  • Acquisitions
United States

This job is no longer active.


A +25-year-old multidisciplinary multifamily (market rate, affordable, senior, student, condo, development, debt) opportunistic national real estate investment company with over $2B experience in the sector. Our current portfolio is over 15,000 units. Affordable housing is one of the divisions at the company. Rehabilitation and preservation of affordable and mixed-income housing across the US. We want to expand the acquisition of Section 42, HAP and partial affordable properties. 

We are looking for a candidate who has deep contacts in the affordable housing sector and has a closing history as a Broker or Acquisitions Officer. The candidate will work at the CA office with support staff, a dedicated analyst, and the management team. 

Ideal candidate:


1.    Has a proven track record of sourcing and closing multifamily affordable housing as a broker or principal. 

2.    Strong analytic skills and a deep understanding of the compliance and operations of Section 42 affordable housing properties.

3.    Has excellent verbal and written skills.

4.    A very hard-working individual who is a self-starter and needs little oversight.

5.    Ability to travel with little notice, and at times may be on the road weekly for deal pursuit, due diligence, deal closing, and occasional construction oversight.
6.    Ability to underwrite and submit offers with no guidance and present the higher probable deals to the CIO and investment team weekly.

7.    A strong/energetic networker with the ability to attend annual real estate conferences nationwide.

8.    Has an existing robust network of brokerage and ownership relationships in the affordable housing sector. Quality, versus quantity, preferred.

9. Ability to work independently, but a strong team player.

10. Multi-task oriented with the ability to work on multiple deals simultaneously. Can create and maintain a pipeline of sourcing and closing transactions (on and off-market) in the affordable multifamily sector.

11. A keen attention to detail with efficient and effective decision-making ability is key to your success.

12. Has strong opinions and will voice them in team meetings.

13. Very effective in face to face meetings with brokers and owners.

14. A people person with a proven record of establishing and maintaining relationships with property peers, owners, brokers and consultants.

Position: VP Acquisitions- Affordable Housing


Start Date:

Salary: Commensurate with experience, but minimum $200,000

Primary Responsibilities:

Acquisition of +$50MM in affordable housing nationwide in MSA's with AMI, population and job growth. We avoid tertiary markets unless they are part of a portfolio. Affordable housing properties we pursue are HAP, Section 42 (existing or conversion), Bond deals or partial affordable properties with income or rent restrictions. Deal size/price is +$10MM, but prefer $15MM and above unless it's part of a portfolio that is over $20MM. 

Create and maintain a pipeline of affordable housing assets to acquire on and off-market. Must be in constant communication with the top three affordable housing brokers. We are expecting you to close off-market deals with listing agents and be aware of deals before they hit the market. 

Be in touch with every marketed affordable deal over $15MM. Know the landscape of available and future affordable properties; it will be your job to quickly decide if it’s worth pursuing or not. Sometimes offer on the property, and other times move on to spend your time on more appropriate deals.

With only strategy-level oversight from the President and/or CIO, lead the pursuit of affordable housing properties. Must be a strong leader with excellent decision-making and time management skills to pick the deals that have the highest probability of getting under LOI. 

Must have the ability to understand and explain complex affordable housing documents (not limited to the regulatory land use agreements), HUD contract, bond documents and any other County affordable housing documents that restrict a property. You must understand all of the affordable documents that govern a property and how they work together (the most restrictive restriction). 


Must have a deep understanding of the process of receiving a full or partial property tax abatement for a family or senior affordable asset in different states.  

Have a pulse on MSA's with AMI growth, job formation, and increasing/decreasing population. Steer the deal pursuit on the markets that have the best economic growth and stay away from markets that are not worth pursuing.

Responsible to completely underwrite and analyze affordable housing properties. Detail review of financial statements from rents rolls to general ledgers. Properly underwrite the Section 8 overhang. Once a property is under contract, you must be able to do a comprehensive forensic accounting overview to confirm the property is a sound investment.

The ability to create budgets and assumptions on a property in as-is and post renovated condition. Must be able to validate all budgets, proforma and assumptions.

Assist the firms deal team (Management, Construction, and President) to create the appropriate capital renovation budget for a 4% LIHTC re-syndication transaction. With the assistance of an architect and outside consultants, our goal will be the modernization of the property, increase energy efficiency (including solar), curing all deferred maintenance issues and enhance the amenities. This would include the elimination of all water intrusion and any environmental issues, potential re-roofing, enhancement or replacement of existing property exterior, amenity upgrades, leasing office expansion and/or upgrade, W/D addition, kitchen and bath upgrades, as well as an overhaul of the grounds including the asphalt and security upgrade. The capital plan must create an inviting/competitive property interior, curb appeal, clubhouse and amenities that stay relevant for 15 years.

Enhance, create and maintain the company’s existing Tax Credit Syndicator relationships. You will be required to have a pulse on tax credit pricing from multiple contacts. With the assistance of the firms deal team (CFO, CIO, and President), source the right Equity partner for each LIHTC deal in a timely manner.  Once a deal is under LOI, create and submit a Tax Credit Equity Partner package out to the right potential partners. Create an open dialogue and bidding war. Be able to walk them through and justify all of the assumptions. 

Lead and oversee the completion of all the application and processing for Tax Credit Bond Allocation, and commitment of Tax Credit Equity partner with the firms deal team (CFO, CIO, and President).

On the acquisition of GP deals, you must have the ability to review complex partnership agreements to create the proper cash flow and waterfall analysis. You must have a thorough understanding of how the cashflows/distributions flow for the LP and GP.

Once you have an affordable deal under contract, lead the firms deal team (Management, Construction, President) through the due diligence and final closing. Create the business plan and make sure there is a proper handoff to the management and construction team.

Overall, we are seeking an individual that can make an immediate impact on the affordable housing acquisitions division by enhancing the decision-making process and deal sourcing/processing.





Job Functions

  • Acquisitions
  • Brokerage / Sales
  • Development

Job Sectors

  • Alternative Investments
  • Residential


2+ to 5 years

This job is no longer active.

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