The Professionals’ Choice for Real Estate Jobs
  1. Home
  2. Find Jobs
  3. Senior Transaction Associate- Affordable Housing

Senior Transaction Associate- Affordable Housing

Salary
$100,000-$124,999
Employment
Full Time
Real Estate Field
  • Legal / Transactions
Location
San Francisco
Region
CA
Postal Code
94108
Country
United States

Apply Now

Description


COMPANY: Reliant Group Management (“Reliant”) is a San Francisco-based real estate private equity firm with a nationwide focus on market rate and affordable housing.  We specialize in acquiring high-quality assets in opportunistic situations utilizing creative financing methods including low-income housing tax credits and tax-exempt housing revenue bonds.  We reposition and/or restructure existing multifamily rental properties to create value for our investors and improve the livelihood of our tenants.
We are currently investing our ninth fully discretionary equity fund ($200MM) focused on acquiring, developing, and operating both affordable and market rate rental properties across the United States.  The multi-family assets acquired have included affordable (family & senior), market rate, senior (assisted living & independent living), student and ground up new construction.
In addition, Reliant is an active developer of LIHTC transactions, having completed market and have successfully completed the syndication and renovation of 37 properties under the LIHTC program totaling $627 million in total capitalization, many including 100% HAP contracts that were modified or restructured as part of the tax credit renovation.  The firm is fully vertically integrated, from capital formation to construction to property management.
Reliant is seeking a highly energetic, self-motivated candidate who is a specialist in the in the affordable housing sector and will be based in the corporate headquarters located in San Francisco. The candidate will have primary responsibility for managing the firm’s Section 42 LIHTC and Section 8 HUD housing applications related to new acquisitions for discretionary equity funds and LIHTC transactions.  The successful candidate will report directly to the head of acquisitions and will serve as the lead in review and processing all filings and regulatory materials related to the acquisition of a Section 42 LIHTC or HUD HAP properties.  The position will provide the candidate the opportunity to immediately play a meaningful role within the acquisitions team.
  PRIMARY RESPONSIBILITIES:
  • Assist the acquisitions team in underwriting affordable housing subsidies available for prospective acquisitions, including real estate tax exemptions, HUD HAP contract and vouchers, Low Income Housing Tax Credits and tax-exempt bond financing.
  • Review the relevant state QAP’s to ensure underwriting is consistent with the issuer requirements, including renovation requirements, energy efficiency improvement thresholds and underwriting parameters.
  • Serve as the primary point of contact with HUD for all HAP contract transfers for potential acquisitions, including mark-to-market and Chapter 15 renewals.
  • Complete applications for tax-exempt bonds in connection with LIHTC awards and ensure applications are in compliance with underwriting and regulatory requirements.  Serve as the primary contact for issuer underwriters to ensure timely approval of applications.
  • Review existing regulatory agreements on potential acquisitions and effectively communicate the restrictions to the acquisitions team, including rental rates and income restrictions.
  • Summarize ongoing reporting requirements for new acquisitions to the Asset Management teams to ensure ongoing compliance.
  • Identify local, state, and national solar and water rebate programs available for energy efficient or utility savings upgrades for affordable or market rate assets nationwide. Communicate requirements to acquisitions or asset management teams and oversee applications and award of rebates.
  • Attend HUD and LIHTC industry events to understand changes with HUD and LIHTC programs in states where Reliant operates, as well as identify new programs that may be beneficial to our acquisitions platform.
  • Perform investment due diligence and provide analytic support to the investment committee.
  • Research select real estate markets for acquisition opportunities in the affordable housing space.
  • Assist in special assignments on an as-needed basis.
MINIMUM JOB REQUIREMENTS: Bachelor's degree and at least three years of multifamily affordable housing experience, including relevant experience with HUD HAP Contract administration, LIHTC applications, and tax-exempt bond issuance process.   KNOWLEDGE, SKILLS, AND ABILITIES REQUIRED:
  • Ability to understand and explain complex affordable housing documents, including but not limited to regulatory agreements, HUD HAP contracts, bond documents and any additional regulatory documents that may restrict a property’s use.
  • Knowledge of the tax credit and Section 8 program regulations.
  • Knowledge of affordable housing tax exemptions available across the U.S.
  • Ability to independently manage numerous projects simultaneously.
  • The desire to work in an entrepreneurial, fast-paced environment.
  • Commitment to excellence and attention to detail.
  • Research skills an absolute must.
  • Excellent analytical and organizational skills with the ability to meet deadlines.
  • Strong oral and written communication skills.
  • Fair Housing and other applicable certifications ideal.
Compensation:  Commensurate with experience.  Benefits include company 401(k), and paid health and dental insurance premiums.

Job Functions


  • Transaction
  • Underwriting
  • Due Diligence
 

Job Sector


  • Residential
 

Experience


2+ to 5 years


Apply for this job


 
SelectLeaders is where real estate professionals and executives manage their careers, network and come for valuable information about their industry. © 2005 - 2018 SelectLeaders LLC