Job Description

Our SelectLeaders' client, BRIDGE Housing Corporation, a leading nonprofit developer of affordable homes, creates and manages a range of high-quality, affordable homes for working families and seniors. Is seeking a Vice President of Acquisitions and Development to be responsible for evaluating and assessing potential real estate acquisitions, divestitures and development of multi-family affordable/workforce housing. The incumbent should be able to evaluate and assess potential acquisitions including market research, underwriting, structuring, closing and transaction management. The preferred candidate is someone who has a strong local network in the greater Los Angeles and San Diego area and West Coast. The position is ideally suited for a highly motivated, detail-oriented individual with an experienced background in both market-rate and affordable multifamily housing. This individual should have the desire to be a part of a rapidly growing non-profit organization with upward mobility, and work within a team of other highly motivated individuals.

Duties and Responsibilities: Sourcing of Real Estate Acquisitions

- Source, evaluate, and assess potential real estate acquisitions throughout BRIDGE’s footprint in CA, OR and WA with a focus on the Los Angeles and San Diego (Southern California) region.
- Lead the underwriting and due diligence for each transaction including financial modeling, market surveys, tenant credit analysis, broker interviews, interaction with property management personnel, and local government officials
- Effectively and efficiently manage real estate and finance transactions including site and property acquisitions, rehabilitation and financial closings
- Source and identify new joint venture partners to create relationships that will provide a consistent pipeline of suitable investment opportunities
- Compilation of due diligence information including financial, market, site, and regulatory data quality
- Ensure the highest quality product in every respect in conformance with BRIDGE’s commitment to the physical, financial, operational health and quality of homes for its residents.

Financial/Legal/Administrative

- Provide recommendations and analysis that will inform the organization’s investment decisions
- Underwrite acquisition opportunities including financial modeling, analysis of market data/comparable sales, preparation of market summaries and negotiations of LOIs and purchase and sale agreements
- Evaluate existing complex partnership agreements and cash flow waterfalls; identify and coordinate with capital markets group for all debt, equity and soft sources of finance to ensure feasibility
- Validation and defense of budgets, assumptions, and pro-forma analysis• Manage project costs throughout the budgeting process for rehabilitation and/or development projects.
- Document loan and partnership terms and obligations
- Completion of applications and documentation necessary for debt and equity financing, property purchase and sale, and government subsidy renewal.
- Work with legal counsel in the preparation and negotiation of purchase and sale agreements, partnership agreements and related legal documentation necessary to complete transactions
- Manage the preparation and presentation of Internal Committee, and Project’s Committee (Board Committee) presentations for all acquisitions

Collaboration

- Collaborate with other members of the Business Development, and Regional developmentTeam, and internal functions including; Property Management, Asset Management, Capital Markets Group, Legal and Corporate Finance.
- Collaborate with outside consultants, brokers, contractors and other allied professionals.

Requirements

- Strong academic background with Bachelor’ Degree or equivalent degree in multi-family home real estate acquisitions, business, real estate, architecture, planning, or finance; advanced degree preferred
- 10+ years of experience and a demonstrated track record of success in real estate acquisitions, divestitures, and development
- Real estate development experience with emphasis on affordable and mixed-income housing. Experience in Los Angeles area desirable
- Excellent problem solving and creative skills with the ability to exercise sound judgment to make decisions based on accurate and timely information
- Experience reviewing and negotiating legal documents
- Strong quantitative, financial analysis and modeling (excel) skills
- Strong sense of urgency and detail with results-driven orientation
- Strong project management skills and follow-through.
- Exceptional research, writing abilities written and verbal communications skills
- Ability to multi-task and prioritize appropriately in a constantly changing environment and act with a sense of urgency, accountability and exceptional attention to detail and sound judgment.
- Experience in GP buy-outs in LIHTC structures desirable

$220,000 - $250,000 bimonthly

Base salary plus performance bonus offered.

Working Conditions

This will be in office and at property sites with some travel required.

Physical Requirements

*Sitting, standing, walking, talking, hearing, and repetitive motions

*Move, lift, carry, push, pull, and place objects weighing less than or equal to 25 pounds without assistance

Pursuant to the San Francisco Fair Chance Ordinance, we will consider for employment qualified applicants with arrest and conviction records.

BRIDGE Housing is an Equal Opportunity Employer

Acquisitions

Capital Markets

Development

SelectLeaders

• 1-100 employees

SelectLeaders was envisioned to provide one, industry-wide career destination to attract, the highest caliber talent into careers in Real Estate. This unique alliance – SelectLeaders Real Estate Job Network, was launched in 2002. Its distinctive advantage remains: members of the Professional Associations in our Network control, or direct, over 90% of U.S. Commercial Real Estate. Talent comes from 12 real estate exclusive sites, and jobs are posted on all 12 sites, creating unparalleled value, and unequalled access to the real estate community.

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