Job Description

Responsibilities

The Vice President of Affordable Acquisitions is responsible for all aspects of the acquisition and redevelopment process of affordable housing properties in the West Coast region, with a primary focus on California. The Vice President will manage a team of acquisition professionals and have overall responsibility for structuring, underwriting, negotiating, closing, rehabilitating, and stabilizing the projects.

We’ll trust you to:

1. Serve as the West Coast Deal Team Leader for Related Affordable in all aspects of the acquisition process.
2. Have direct oversight of Associates and Analysts whose primary responsibilities include review and completion of applications and due diligence documentation necessary for debt and equity financing, property purchase and sale, government subsidies, and rental contract maintenance.
3. Negotiate accretive transactions with investors, brokers, property managers, industry consultants, and other third parties.
4. Evaluate and synthesize due diligence information including financial, market, demographic, site, federal, and state regulatory data.
5. Determine the most accretive capital structures on a deal-by-deal basis using the financing tools unique to affordable housing.
6. Oversee contract negotiation and review of legal documentation for equity and loan agreements, purchase and sale contracts, and ownership structures.
7. Validate and defend budgets, assumptions, and pro-forma analysis, including the identification of problems inherent to a given project.
8. Ensure the long-term viability of each acquisition and serve as key contact/problem-solver throughout the entire post-acquisition lifecycle.
9. Keep abreast of industry offerings and updates.
10. Expand the company’s affordable holdings in the West Coast region with an emphasis on California.
11. Leverage existing local industry relationships to develop a robust pipeline of acquisition opportunities, including identifying off-market opportunities and partnerships.

Location:

• The Vice President position will be based in our Santa Monica office, the local affiliate of Related Companies, and will report to the Executive Vice President of Related Affordable in New York City.
• The Vice President is expected to have significant professional contacts in the affordable housing industry, particularly in California and neighboring states.

Compensation

• $200,000 - $250,000 / year
• In addition to a competitive base salary, you will be eligible for discretionary bonus incentives, equity participation in deals, and our comprehensive benefits package.
• Actual base salary within the anticipated range will be determined by several components including, but not limited to, the individual's experience, skills, qualifications, and market factors.

Qualifications

• 10+ years of experience in the affordable housing industry, with a proven track record on project managing and closing a multitude of transactions of varying complexity.
• A strong network of affordable housing professionals, lending, municipal and housing agency relationships in the California market.
• Demonstrated ability to lead teams of Associates and Analysts.
• A deep understanding of the core tools of affordable housing finance, including tax-exempt bond financing, tax credits, project-based section 8, etc.
• A high interest in networking and communicating with outside parties.
• The network, enthusiasm, creativity, and reputation to be able to source new acquisition opportunities in the region.
• A passionate commitment to affordable housing preservation.
• A strong reputation for excellence, integrity, and character.
• Ability to work on-site in the Related Santa Monica office.
• Bachelor’s degree preferably Finance, Accounting, Economics, or equivalent.

We are proud to be an equal opportunity employer and are deliberate about the team and culture we are building. We aim to ensure competitive total compensation that is commensurate with experience, workplace geography, and market standards.

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