Development Finance, Sr. Director, ECD Real Estate Development- HYBRID

Enterprise Residential•Bethesda, MD

4d•$135,000 - $160,000•Hybrid

About The Position

E nterprise is a national nonprofit that exists to make a good home possible for the millions of families without one. We support community development organizations on the ground, aggregate and invest capital for impact, advance housing policy at every level of government, and build and manage communities ourselves. Since 1982, we have invested $80.9 billion and created 1 million homes across all 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands – all to make home and community places of pride, power and belonging. Join us at enterprisecommunity.org Working at Enterprise At Enterprise, you’ll be part of a diverse, committed team making a difference every day. You will collaborate with some of the smartest minds and biggest hearts in our field. You’ll be empowered to drive systems change and take bold steps to advance racial equity. And you will find a career home where you’re valued and supported in your growth journey. Enterprise offers career opportunities in our offices across the country with an exceptional benefits package . Job Description Summary The Senior Director, Development Finance, position creates centralized and dedicated leadership within the Real Estate Development department over programmatic financing-related matters. This position’s purpose is to increase the size and availability of project and portfolio capital sources; expand the variety of financing structures; provide training in technical underwriting and best practices to the Real Estate Development team; support the development project management team with financing due diligence and closing deliverables and consolidate management of responsibilities for conversion and funding installment activities. The Senior Director is responsible for overseeing a multifamily portfolio, which is primarily affordable and located in multiple jurisdictions in Washington, DC, Maryland, Pennsylvania, and/or Virginia, with multiple finance and compliance layers. This position will work with external and internal customers and must have strong communication and writing skills, in addition to strong quantitative skills, and the ability to read, interpret and analyze financial documents, underwriting models, and business and legal documents for multifamily development.

Requirements

Bachelor’s degree required, preferably in Business Management, Accounting, Finance or related field.
7+ years multi-family real estate, finance, accounting, and/or asset management experience.
Experience raising, structuring, and executing real estate debt and equity finance.
Familiarity with private financing and federal, state, and local government funding.
Strong organizational skills and ability to coordinate complex activities, prioritize conflicting demands and meet deadlines.
Strong verbal communication and business writing skills.
Ability to read, interpret, and analyze financial statements.
Sound understanding of real estate terminology and concepts, including multi-family real estate; working knowledge of LIHTC required.
Strong analytical skills.
Strong computer skills with excellent MS Excel skills.
Highly motivated and able to work independently.
Excellent problem-solving skills
Must demonstrate strong ethics in interpersonal relations and work as an effective, collaborative team member to produce high-quality results.

Nice To Haves

Master’s Degree in Real Estate, MBA or CPA preferred.

Responsibilities

Create and maintain a programmatic capital raising strategy for Real Estate Development
Collaborate with New Business team on integrating capital strategies with new business pursuits.
Collaborate with EVP, Head of Real Estate Development, on management of financial resources, evaluation of corporate balance sheet needs and impacts, and development of departmental strategy including reconciliation with the real estate owned portfolio.
Improve efficiency of development financing methods by identifying new partners and transaction structures.
Increase available funding sources and methods available for project and portfolio financing, including through identification of new funding types and adaptation of existing sources and structures to market changes.
Cooperation with Finance on effective and timely reporting as well as revenue, cash flow, and other essential projections.
Assist development team and project leads with individual transactions during financing due diligence and closing processes by supporting document exchange and review completion with capital providers.
Assist development team and project leads with individual transactions with tax credit equity delivery and permanent debt conversion by monitoring progress toward meeting project construction completion requirements, coordinating with Construction Management and Property Management on any necessary scope interventions, and managing document exchange and review completion with capital providers.
Assist development team and project leads with individual transactions with tax credit equity delivery and permanent debt conversion by monitoring progress toward meeting property performance requirements during lease up, coordinating with Asset Management and Property Management on any necessary operational interventions, and managing document exchange and review completion with capital providers.
Ensure consistent underwriting output across all transactions; improve financial modeling skills across all relevant team members.
Develop financing training modules and other support systems.

Benefits

Enterprise offers a comprehensive total rewards package for you and your family.
The base salary for this role is $135,000/year to $160,000/year, depending on level of skills and experience.
The salary range for this position is represented by the low and high end of the range for the amount to be paid for the position.
Salaries paid at Enterprise will vary based on factors that may include skills, education, location, experience, and performance.
The salary range is just a part of the total rewards package provided to employees at Enterprise, and other rewards may include annual performance bonuses and generous paid leave programs.
At Enterprise, our benefits form a major component of our total rewards package.
Benefits include dental, health, and vision care plans, as well as family-building benefits, such as adoption and surrogacy support.
Enterprise allows flexible work arrangements to promote a better work-life balance.
We offer health advocacy, EAP, and mental health benefits.
We round out our total rewards package by offering financial education, wellness programs, and auto-enrollment in the company's 401(k) plan with employer matching contributions.
Finally, you will have learning and development opportunities, including tuition reimbursement for job-related courses and certifications.