Director, Housing Transactions

HR&A Advisors • Los Angeles, CA

5d • Hybrid

About The Position

The Housing Affordability Practice is seeking a full-time Director with a focus on housing transactions to structure funds and underwrite and close loans and investments in mixed-income and affordable housing developments. The Director will join our Los Angeles or San Francisco Bay Area office. We are also open to remote candidates located in the Seattle metro area. Directors are seasoned career professionals with 6-10 years of professional experience who will collaborate with the Partner-in-Charge of HR&A’s Housing Practice, other Directors and Principals, and direct the work of Analysts. Most work will be organized into small teams of three to five members. Teams are comprised of colleagues from across our offices. Day-to-day tasks will include:
Transaction Management
Screen, underwrite, and close loans, grants, and investments in mixed-income and affordable housing acquisitions and developments.
Manage relationships with project sponsors (typically for-profit and non-profit housing developers and owners).
Structure and negotiate business terms of loans and investments to maximize public benefit and mission and mitigate risk based on established underwriting guidelines.
Oversee the work of analysts assigned to transactions. Ensure the completeness and quality of all client deliverables including screening, underwriting, and closing memos and Excel financial underwriting models. Effectively present analysis and approval recommendations to internal investment committee and to clients.
Collaborate with client’s business, legal and finance teams, as well as third parties including outside legal counsel, to conduct due diligence, review and approve third-party reports, and negotiate legal documents.
Coordinate the closing process by working with project sponsors, lenders, and other stakeholders such as public agencies and subsidy providers.
Product Development
Develop innovative housing investment vehicles that enable solutions identified in policy and planning processes.
Work with current and potential clients to establish investment terms that balance financial return thresholds, risk tolerance and mission investing objectives.
Conduct market research to identify and size gaps in the existing housing finance market for affordable and mixed-income housing.
Support the negotiation of partnerships with other investors and public sector partners.
Evaluate the feasibility of implementing and monitoring new investment vehicles.
Organize workshops and outreach events with community, public sector, nonprofit and for-profit investors.
Run request for proposal processes to select development partners.
Support new business development opportunities through writing proposals and outreach to potential clients.

Requirements

• 6–10 years of work experience in housing finance, housing policy analysis and design, housing market analysis, affordable housing finance, and/or consulting in a related field.
• 5-7 years of experience in Real Estate Development or Finance, including 4+ years of real estate underwriting experience, preferably with affordable multifamily, and 2+ year of relationship management.
• Thorough knowledge of common underwriting practices and procedures.
• Thorough understanding of housing and affordable housing related market forces including general real estate principles, supply and demand economics and other multifamily demand drivers.
• A high degree of proficiency in real estate financial modeling, experience with affordable housing finance is a plus.
• Comfort synthesizing data and crafting a compelling narrative.
• Comfort presenting to internal senior leadership and external clients.
• Strong project management experience, including professional and interpersonal communication skills aligned with guiding teams.

Responsibilities

• Screen, underwrite, and close loans, grants, and investments in mixed-income and affordable housing acquisitions and developments.
• Manage relationships with project sponsors (typically for-profit and non-profit housing developers and owners).
• Structure and negotiate business terms of loans and investments to maximize public benefit and mission and mitigate risk based on established underwriting guidelines.
• Oversee the work of analysts assigned to transactions. Ensure the completeness and quality of all client deliverables including screening, underwriting, and closing memos and Excel financial underwriting models. Effectively present analysis and approval recommendations to internal investment committee and to clients.
• Collaborate with client’s business, legal and finance teams, as well as third parties including outside legal counsel, to conduct due diligence, review and approve third-party reports, and negotiate legal documents.
• Coordinate the closing process by working with project sponsors, lenders, and other stakeholders such as public agencies and subsidy providers.
• Develop innovative housing investment vehicles that enable solutions identified in policy and planning processes.
• Work with current and potential clients to establish investment terms that balance financial return thresholds, risk tolerance and mission investing objectives.
• Conduct market research to identify and size gaps in the existing housing finance market for affordable and mixed-income housing.
• Support the negotiation of partnerships with other investors and public sector partners.
• Evaluate the feasibility of implementing and monitoring new investment vehicles.
• Organize workshops and outreach events with community, public sector, nonprofit and for-profit investors.
• Run request for proposal processes to select development partners.
• Support new business development opportunities through writing proposals and outreach to potential clients.

Benefits

• We offer competitive compensation packages, based on qualifications and experience.
• We are an employee-owned company, meaning you will have the opportunity to benefit from the firm’s growth over time through participation in our Employee Stock Ownership Plan.
• Each year, the firm will contribute funds to this long-term wealth-building account and may make contributions to other retirement accounts.
• We also provide a comprehensive benefits package that goes well beyond coverage of 90-95% of healthcare premiums, including dental and vision coverage.

What This Job Offers

• Job Type: Full-time
• Career Level: Director
• Education Level: No Education Listed