Underwriter/ Project Manager (Associate up to Director) - NY
KM Partners
New York, NY
Salary Estimate: Confidential
Employment Type: Full Time
Work Place: Office
Experience Required: 5+ to 7 years
Education Required: 4 Year College
Job Description
Our Client
Our firm has been retained by one of the largest privately held Affordable Housing Investment Management companies in the country, in the search for a high-performing and well-accomplished Underwriter with Low-Income Housing Tax Credit (LIHTC) experience:
• Entrepreneurial, high-touch organization that invests in the personal and professional development of each team member
• Well-capitalized with multiple business lines and a long successful history of repeat investors (90%+ repeat investors)
• Great culture: progressive, collaborative, and non-political with long average tenures
• Staying power and stability: decades of success in the industry, survived multiple economic recessions, and on track to have their 4th record year in a row
Our Firm
KM Partners’ national Executive Search and Professional Recruitment practice areas focus on high-growth, impact-investment-oriented businesses across relevant industries, including Investment Management, Real Estate, Clean Energy, Sustainable Infrastructure, and related Business and Professional Services. With a core focus in Tax Credits (LIHTC, NMTC, Historic, & Renewable), Multifamily, Affordable and Senior Housing, we partner with clients and place industry-specific professionals throughout the United States. We represent C-level Executive Leadership, Middle Management, and experienced Associates across industry professions.
The Opportunity
Hit the ground running as a key point-person on the Underwriting team, directly supporting Originations in the evaluation and closing of transactions throughout the U.S. Report directly to the Vice President of Underwriting in a fast-paced, long-established Investment Management company while collaborating with executive management, investor relations, legal counsel, and development partners.
Target Profile: Ambitious self-starter with strong interpersonal skills to expand responsibilities and cultivate relationships who will succeed in an environment that thrives, in some measure, on self-sufficiency. Apply common sense business judgement and provide an innovative approach to structuring transactions to optimize profitability and deal execution. Lead transactions, present deals to investment committee, and take ownership to drive the underwriting and closing process across the finish line.
Knowledge, Skills & Abilities:
• Structure, negotiate, and close equity investments on Affordable Housing communities throughout the country, utilizing Low-Income Housing Tax Credits LIHTC
• Analyze prospective projects to determine financial feasibility and run and manage projections that will ensure that the projects’ yields are maintained at closing
• Assess market conditions, review and analyze all third-party data (e.g. market studies, construction plan and cost reviews, Phase 1s, appraisal, etc.); and other due diligence provided for conformance to underwriting guidelines
• Underwrite the transaction by addressing strengths and weaknesses of a transaction, including identifying how risks are managed
• Prepare investment package and present for Investment Committee approval
• Work closely with legal counsel and executive management to negotiate partnership agreements with developers
• Work closely with Investor Relations team to place the transaction in an investment fund
• Manage expectations and relationships with developer clients throughout the underwriting and closing process
• Maintain and enhance existing and new relationships with the developer and investor partners
• Highly motivated self-starter with attention to detail and ability to manage multiple tasks and projects at the same time
• Well-developed analytical and problem-solving skills
• Strong verbal, written and interpersonal communication skills and the ability to work well with others
• Some travel will be required
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