Director of Portfolio Investment (Oakland, Foster City, Watsonville)

MidPen Housing•Oakland, CA

5h•$193,600 - $217,800

About The Position

The Director of Portfolio Investment reports to the Senior Vice President of Asset & Budget Management and serves on MidPen’s Senior Leadership Team. The Director develops and executes recapitalization strategies for MidPen’s property portfolio, including resyndications, rehabilitation, refinancing, and transactions funded through public and private loans, grants, and rebate programs. The role calls for sound judgment, autonomy, and strong collaboration with internal and external partners. The Director leads a team of project and transaction managers, overseeing hiring, performance, professional development, and goal achievement. The role also fosters cross-departmental relationships and improves processes, policies, and operational efficiency. The position represents MidPen to public bodies and external stakeholders and ensures projects and financing align with organizational guidelines, budgets, schedules, and reporting requirements.

Requirements

Graduate or professional degree in Urban Planning, Community Development, Architecture, or a related field with an emphasis on real estate development, or an equivalent combination of education and experience.
At least seven years of prior development experience.
Previous work experience managing personnel.
Thorough knowledge of federal, state, local, and private financing sources for low-income housing, including real estate and tax law related to affordable housing development.
Excellent written and oral communication, presentation, negotiation, and political judgment skills, including the ability to facilitate community discussions and build relationships with lenders, investors, public officials, and low-income tenants.
Strong organizational, project management, research, and financial analysis skills, including the ability to prepare feasibility analyses, narrative reports, proposals, and standard internal tax credit pro formas.
Familiarity with architectural and construction practices and demonstrated ability to oversee the design and construction of at least two low-income housing developments in coordination with the Construction Manager.
Proven ability to lead, develop, and guide direct reports and train staff.
Ability to use Microsoft Excel, Word, PowerPoint, and Project.
Ability to adapt to a fast-moving, flexible environment and support the organization’s mission.
Ability to perform the listed physical activities, including desk-based computer work, sitting, occasional standing and walking, reaching, grasping, using a telephone, sorting or filing, and occasionally handling objects weighing up to 15 pounds.

Responsibilities

Hire, train, and supervise personnel, fostering a positive work environment, cross-departmental teamwork, and timely achievement of assignments and goals.
Set clear expectations and accountability, coach and delegate to support staff development, and use internal and external relationships to remove barriers and improve efficiency.
Demonstrate leadership beyond the Transactions Team to improve the experience of staff across MidPen.
Develop and maintain short- and long-term portfolio recapitalization plans, including refinancing, resyndication, capital improvements funded through public loans and grants, and energy upgrades.
Evaluate potential projects and financing sources, monitor RFPs and NOFAs, and recommend opportunities for project pipelines.
Assess proposed projects’ impacts on cash flow, compliance, rents, and long-term capital needs, and provide recommendations for approval.
Supervise preparation of funding applications and approve financing plans for compliance with MidPen underwriting standards.
Lead or support financing closings and lender and investor negotiations; ensure loan terms are documented through MidPen’s Term Sheet process and verify underwriting and budgets accurately reflect sources, uses, and pro forma changes.
Collaborate with Project Managers to maintain and refine critical path schedules and achieve key milestones.
Oversee project budgets, cost tracking, and schedules, and ensure capital projects comply with MidPen building guidelines and contribute to their ongoing development.
Work with internal teams and external experts to determine the highest and best use of funds and establish project scopes and budgets.
Partner with Construction Management to deliver capital improvements on time, within budget, and in accordance with contracts and project plans; oversee design, permitting, contractor and consultant negotiations, and collection and documentation of warranties and operations and maintenance manuals.
Represent MidPen before public bodies, at public hearings, and in speaking engagements; build and maintain positive relationships with internal and external stakeholders.
Network with relevant organizations and individuals and provide technical assistance to other nonprofit organizations as appropriate.
Coordinate with internal stakeholders, including Property Management and Services, and ensure adherence to cross-departmental collaboration protocols.
Ensure building programs, financing plans, operating budgets, and reserves meet MidPen standards, and ensure project budgets and critical path schedules are accurate, regularly updated, and communicated when changed.
Ensure compliance with MidPen’s Development Guidelines, Real Estate Investment Guidelines, and Board of Directors and Development Committee reporting requirements, including monthly board memos and project summary reports.
Perform other assignments as requested.