Job Description

Position:

Reliant is seeking a highly energetic, self-motivated candidate who specializes in the affordable housing sector. We are open to an office, hybrid, or remote person. The ideal candidate will be close to our corporate headquarters in San Francisco, but this is a national search. 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 VP Affordable Acquisitions but interact with the President and affordable housing team. They will lead in reviewing and processing all filings and materials related to acquiring and restructuring a Section 42 LIHTC, HAP, and other affordable assets. The position will allow the candidate to play a meaningful role within the acquisitions team immediately.

COMPANY:

Reliant Group Management is a San Francisco-based private equity firm with a nationwide presence. We specialize in acquiring high quality assets in opportunistic situations using 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 lives of our tenants.

Reliant is an active developer of Section 42 LIHTC properties, having completed the market and successfully completed the syndication and renovation of 36 properties under the LIHTC program totaling $1.3 billion in total capitalization, many including 100% HAP contracts that were modified, or restructured as part of the tax credit renovation.

The firm employs over twenty people in the headquarters office, with satellite offices in Los Angeles, Seattle, and Austin. We currently operate more than 15,000 units of multifamily housing nationwide including affordable, student, senior and market rate apartments. The asset management services provided by Reliant Group include intensive oversight of construction and rehabilitation efforts, in-depth analysis of operations, new media marketing and creative problem solving to improve operational performance.

We are currently investing our tenth fully discretionary equity fund focused on acquiring, developing, and operating both affordable and market-rate multi-family rental properties across the United States. Reliant Group has acquired over $3.0 billion of debt and equity in a variety of real estate transactions since 1992. The investment strategy is centered on the premise that scarce but powerful stimulants to value creation reside with motivated people, original ideas, and exacting execution. The acquisitions team will invest the firm’s tenth fully discretionary equity fund (+$245MM). No outside approvals are required for our acquisitions; all investments are approved internally.

.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 comply 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 and identify new programs that may benefit our acquisitions platform. Stay ahead of policy changes in affordable housing.
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 four 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, 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 are ideal.

Please only apply if you have section 42 affordable housing experience, other candidates will not be considered.

Compensation: Commensurate with experience. Benefits include company 401(k), and paid health and dental insurance premiums.

Underwriting

Due Diligence

Transaction

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