Affordable Housing Transaction Manager

National Church Residences • Dublin, OH

8d • Onsite

About The Position

According to prescribed policies and procedures of the organization including all applicable state, federal and accreditation regulations and reporting to the Vice President of Asset Management, the incumbent will assess strategy, identify financing sources, and negotiate and close transactions for Affordable Housing assets. Transaction types include but are not limited to acquisition of partnership interests, sale of properties, and financing of assets.

Requirements

• Bachelor’s degree in finance, accounting, real estate or related field with strong record of academic achievement requires.
• Minimum of 10 years’ experience in affordable housing, real estate asset management and/or affordable housing transaction management.
• Must have excellent communication, comprehension, and interpersonal skills. Must have the ability to speak, read, write and understand English, as well as the ability to make self-understood.
• Must have good computer skills with basic professional computer software (Microsoft Office suite, Windows, etc.) and the capacity for learning new software systems quickly. Must be self-directed with excellent organizational skills and the ability to manage tasks and assignments concurrently. Must have strong motivational skills and a high emotional intelligence quotient (EQ).
• Must be self-directed with excellent organizational skills and the ability to manage tasks and assignments concurrently. Must be able to successfully lead others in an environment of complexity.
• Must have strong knowledge and understanding of affordable housing programs including Low Income Housing Tax Credits and HUD programs, a strong background in financial modeling, solid analytical and problem solving skills, highly developed verbal and written communication skills.
• Must have valid driver’s license, automobile insurance and be qualified to drive under the organization’s motor vehicle check guidelines.

Nice To Haves

• MBA or CPA preferred

Responsibilities

• Establish policy and procedures regarding the coordination of activities related to various transactions across the Affordable Housing portfolio, including property sales, acquisition of Limited Partner interests in LIHTC partnerships, and financing/ refinancing of mortgage loans, debt modifications and/or forgiveness.
• With respect to acquisition of partnership interests (“LP exits”): In collaboration with the assigned asset manager, negotiate “LP exit” terms with the syndicator and Limited Partner. Conduct asset and partnership valuations and review Partnership Agreement terms governing LP exits. After negotiating LP interest acquisition terms, work with legal counsel to draft and finalize partnership agreement amendments effectuating the transaction. Coordinate all activities necessary to request and obtain all required approvals for the acquisition of the LP interest, including internal approvals, and state agency, HUD and/or lender approvals. Maintain and regularly update pipeline reports to track LP exit activities. Communicate all final terms to internal stakeholders and save all final documents to the document management system
• With respect to financing activities: Identify and evaluate refinancing opportunities (maturing loans, etc.) for Year 15 properties and HUD properties. In collaboration with the VPs of Asset Management and Development Finance, evaluate potential lenders and debt products that may align with the financing needs within the Affordable Housing portfolio. Evaluate loan terms and underwriting criteria for prospective financing opportunities. Coordinate all required due diligence including third party reports Obtain all required internal and external approvals In partnership with internal legal counsel, oversee all closing activity, including hiring of outside counsel and review of loan documents and settlement statements Maintain and update monthly pipeline reports documenting all activity related to financing activities Communicate all financing terms to internal stakeholders and save all final documents to the document management system
• Across the housing portfolio, partner with housing accounting and asset management to identify subordinate loans eligible for extension, forgiveness or modification. Develop system(s) to track same. Work with financing partners to negotiate and document extensions, forgiveness and modifications. Collaborate with internal and external stakeholders to identify and resolve tax related matters and secure required consents.
• With respect to property sales: In alignment with applicable Board guidance, assist in the evaluation of the portfolio for potential sales Assist in the selection of brokers and/or potential purchasers Negotiate key terms of Purchase and Sale Agreements in partnership with legal counsel. In collaboration with the assigned asset manager, provide all required due diligence to brokers and prospective buyers Manage all aspects of property sale closings and ensure smooth off-boarding processes. Communicate all final transaction information to internal stakeholders and save all final documents to the document management system
• With regard to additional transactions: Work with the VP of Asset Management to identify high priority transactions and lead execution of the same in partnership with the assigned asset manager. Establish tracking systems to monitor loan modifications, extensions and forgiveness.

What This Job Offers

• Job Type: Full-time
• Career Level: Manager
• Number of Employees: 1,001-5,000 employees