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Duties & Responsibilities

• Lead the execution of the business plans for a diversified portfolio of mainly multifamily assets, many with an affordable component. High level tasks include tracking key business plan activities, reviewing operational metrics, and monitoring achievement of investment returns 
• Manage day-to-day relationships with third-party property managers 
• Oversee leasing efforts and other operational areas including regulatory compliance (e.g. Section 42 – LIHTC), risk management, capital budget, etc.  
• Conduct asset operational performance review meetings with property managers to go over performance, budget variance, cap ex spending, etc.  
• Prepare reporting for capital partners including monthly reports, regulatory compliance documentation, quarterly investment dashboards and annual business plan updates 
• Make regular site visits  
• Negotiate project contracts and agreements, including commercial leases and third-party contracts with consultants like attorneys, insurance brokers and construction consultants when applicable 
• Assist with equity capital calls from conventional equity providers, as well as LIHTC investors 
• Review market, economic, and capital trends affecting the performance of the project; recommend changes to the Business Plan as needed based on trend analysis 
• Assist with updating project proformas for changes to operating, capital market, and investment assumptions on rents, operating expenses, cap ex needs, etc.  
• Participate in periodic valuation of assigned assets and make sell/hold recommendations in tandem with the Investment Management team 
• Periodically review property for non-operational valuation creation opportunities, e.g. bulk wi-fi, storage, land monetization, etc.  
• Interact with resident associations, community groups, and political leaders 
• Support other Jair Lynch teams on debt and equity closings for acquisitions and refinancing or supplementals for stabilized assets, as needed 
• Mentor and coach Asset Managers and Associates working on assigned deals or in the group.

Competencies

• Strong understanding of real estate and correlation between asset level decisions and financial performance 
• Foundational knowledge of real estate finance  
• Working knowledge of property operations and affordable housing programs  
• Excellent interpersonal, organizational, administrative, and communication skills  
• Attentive to detail, proactive, discreet and dependable 
• Good judgment and initiative  
• Ability to function independently but also able to work in close cooperation with others 
• Adept at coordinating and prioritizing a variety of tasks and multiple projects simultaneously in a fast-paced environment 
• Strong project management skills, with experience managing internal and external team members at various levels with disparate project responsibilities 
• Positive team player with professional demeanor who can communicate in a clear and polite manner in person, on the phone, or over meeting apps 
• Excellent grammar, spelling, proofreading, and editing skills, and the ability to research information and compile it into a concise briefing 

Requirements

• Bachelor’s degree in a field related to real estate (i.e., finance, law, property management, economics, etc.) 
• Strong experience with affordable and workforce housing including LIHTC program 
• Minimum of ten (10) years or more experience as an asset manager for multifamily properties, particularly those with institutional equity partners. Prospects with or earning master’s degrees in real estate and similar fields and have experience in real estate underwriting are encouraged to apply even if they do not meet the minimum work requirement 
• Experience in real estate finance, multifamily rental operations and capital projects 
• Strong computer skills in Microsoft Outlook, Word, Excel, PowerPoint, and MS Teams 

Duties & Responsibilities 

• Leads and oversees financial analysis of real estate investment opportunities (new and existing).  
• Advanced financial underwriting – compile, update and maintain project financial proformas in existing Excel templates and new/modified forms when necessary. Create new templates and perform advanced modeling (e.g. waterfalls, sensitivities, etc.) when necessary.  
• Lead, direct, conduct and interpret relevant research and data gathering including comps, market trends, trades, capital markets, etc. using internal and 3rd party sources.   
• Junior lead on development of overall project financial and capital structuring strategy including debt, equity, and subsidy strategies.  
• Stays abreast of local, regional, and national real estate market trends and macro-economic conditions and understands impacts to assigned projects.   
• Oversees the contracting and performance of due diligence and 3rd party reports. Responsible for reviewing, understanding, and interpreting all reports and taking any necessary follow up action, documentation, risk analysis. 
• Analyzes project performance and makes “owner” decisions when necessary or gathers necessary information and presents recommendations to senior management.  
• Works directly with Development and Asset Management Teams to set project schedule, program, and budget for projects in development or repositioning. Provides input on project positioning, market segmentation, and customer definition.  
• Leads analysis and decision making on all aspects of development project financial performance including capital expenditures, revenue, expenses, and budget. Oversees proforma updates and analysis of alternative scenarios.   
• Commercial leasing – Leads selection and contracting with leasing brokers. Works with brokers to set leasing/merchandising strategy when needed. Leads term sheet negotiation and leads analysis of lease terms. Works with counsel to negotiate leases and presents summaries to lenders/investors for approval.  
• Junior author development of the investment thesis and preparation of materials for internal and external investment and loan committees. 
• Leads application process for public financing opportunities.  
• Oversees lender/investor due diligence – compile and deliver all lender/investor required documents. 
• Leads closing calls and works w/ junior staff to maintain meeting minutes and closing checklists.  
• Leads the preparation and presentation of regular investor and lender reporting.  
• Develop, maintain, and expand industry and capital partner relationships and works to develop strategic partnerships.   
• Mentor Analysts and Associates. Participates in recruiting, interviewing, goal setting and development of junior staff.  
• Assist in business development and deal sourcing activities. 

Competencies 

• Advanced or higher understanding of real estate terminology & concepts: operating expenses (OpEx), asset classes, finance, acquisitions, and investment returns (ROC, IRR, etc.) 
• Intermediate level knowledge of real estate development terminology & concepts: architecture and engineering, permitting, land-use and regulatory, construction.  
• Intermediate level project and schedule management skills (CPM, MS Project, etc.). 
• Advanced or higher financial modeling and MS Excel skills including ability to modify or create new templates.   
• Possesses subject matter expertise for one or more specialties – development, existing assets, repositioning, commercial/retail leasing, entitlements, affordable housing (e.g. LIHTC) alternative financing sources (e.g. NMTC, HTC, PACE, etc.).  
• Intermediate risk management skills – understands of how to identify, track, and report project risks, make decisions, and when to elevate issues.  
• Developed networking and relationship management skills, especially lenders, investors, vendors, and tenants.  
• Ability to read and interpret legal documents including loan documents, contracts, LLC agreements, and commercial leases.  
• Ability to make “owner” decisions – sound judgment, logic, reasoning and ability to communicate rationale.  
• Strong writing and presentation skills 
• Proven research skills, including data compilation/organization and presentation,  
• Effective time management and task prioritization; resourceful, proactive, and persistent in problem-solving.  
• Ability to see “big picture” and navigate through ambiguous situations. Provide guidance to junior staff in problem solving.  
• Ability to identify business development opportunities.  

experience required

• 7-10 years of experience in real estate finance and underwriting.  
• Bachelor’s degree in business administration, accounting, finance, economics, engineering, or mathematics. Graduate degree – MBA, master’s in real estate, Finance or related field is preferred but not required if possesses sufficient experience.   
• Substantial experience with real estate specific Excel proformas.  
• Direct experience working on minimum 5-7 real estate finance closings with multiple deal structures.  
• Other real estate development, design, engineering, entitlements, or legal experience a plus.