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VP of Real Estate
A supportive housing developer is looking for a Vice President of Real Estate that will be responsible for providing leadership, guidance, and oversight of over a team of four overseeing a designated property portfolio. The incumbent ensures financials, operating and compliance standards, as well as employee experience meets and exceeds the expectations of Housing on Merit. The Vice President of Real Estate must have extensive experience understanding affordable housing acquisitions and growing a portfolio. The Vice President of Real estate must have affordable housing experience, LIHTC, Project-based Section 8. The Vice President of Real Estate directly reports to and works closely with the Executive Director. The main responsibilities include:
• Assist Executive Director on business development and growth plan to acquire affordable housing deals (65%);
• Management and development of staff (35%).
Ensure team achieves the financial and portfolio addition goals set out by organization overall.
Establish and maintain effective business relationships with financial partners and developers.
Demonstrates extensive knowledge in affordable housing based in the East Coast, primarily Washington D.C.
Attracts new business relationships and partnerships for the organization.
Lead department in planning, implementation, and development of complex and large-scale affordable housing and mixed-use projects.
Manages and participates in the development and administration of the department budget; directs the forecast of additional funds needed; directs monitoring of approved expenditures; implements budgetary adjustments as necessary.
Work closely with Executive Director in business development plan to grow and acquire affordable housing deals.
Provides technical assistance to Executive Director in the review and analysis of long-term development and financing strategies to grow the organization.
Assist in the development and monitoring of strategies to maximize asset values within the portfolio.
Assist in conducting due diligence and financial modeling for new acquisitions and dispositions.
Problem solve property and portfolio level issues through research, analysis, and implementation.
Participate in the acquisition due diligence process, including involvement in the underwriting process.
Responsibility for overall portfolio management and profitability
Analyze property financials and performance metrics in pursuit of maximizing revenue and minimizing expenses.
Act as the primary lead to underwrite and source affordable housing deals.
Negotiates acquisition agreements.
Assist Executive Director in leading and supporting financial closing deals on real estate properties.
Structures real estate development deals; compiles, analyzes, prioritizes, and recommends projects based on detailed proforma.
Conduct due diligence items of acquisition opportunities for multifamily assets to preserve as affordable housing.
Compliance and Social Services
Act as a liaison between Compliance/Social Services departments to Executive Director’s departments.
Keep current on all updates and changes in affordable housing programs and requirements.
Assist and support Director of Operations and Compliance with compliance-related items.
Ensure proposals, applications, and closings meet LIHTC regulations.
Maintain thorough knowledge of compliance with Tax Credit, HUD Section 8, local and other regulatory guidelines.
Support Planning & Programming Coordinator with resident services offered at applicable properties.
Train, direct and manage team in the performance of their responsibilities, including coaching, development, and performance review.
At least 5 years’ experience in property acquisitions, preferably in affordable housing.
At least 5 years’ experience supervising and managing a team of two or more people.
Bachelor’s Degree required.
Working knowledge of West and East Coast affordable multifamily housing with a focus on Washington D.C.
Working knowledge of federal funding programs such as low-income tax credit financing (LIHTC) and HUD project-based Section 8 (HAP) contracts.
Experience with affordable housing acquisitions, either non-profit or for-profit, utilizing low-income tax credit financing.
Excellent leadership skills and ability to oversee a team.
Advanced proficiency with Microsoft Office (Outlook, Word, Excel, PowerPoint).
Advanced analytical, math, and computer skills.
Advanced verbal and written communication skills and customer service orientation.
Strong working knowledge of the concepts and practices within the fields of commercial real estate and multifamily affordable housing development.
Ability to use experience and judgement to plan and accomplish goals.
Ability to maintain confidentiality of information.
Ability to work effectively with others.
Must have reliable transportation, driver’s license, and proof of insurance if applicable.
Must be willing and able to travel to any company location.
Ability to understand the problems and issues facing families from a variety of ethnic and economic communities.
A mission-driven individual with a dedication to permanent housing solutions for vulnerable populations with an authentic level of compassion.