Vice President, Affordable Acquisitions
- 177 Milk Street
The Vice President within the Acquisitions team is responsible for project managing all aspects involved with the acquisition process of affordable housing properties, from initial deal underwriting through closing and then stabilization. The Vice President, with the assistance of existing Associates and Analysts, has the overall responsibility for structuring, underwriting, negotiating, closing, rehabilitating, stabilizing, and then asset managing the projects assigned to him or her. More specifically, the Vice President will:
- Serve as the Deal Team Leader in all aspects of affordable housing acquisitions, financing, and development.
- Negotiate accretive transactions with investors, brokers, property managers, industry consultants, and other third parties.
- Evaluate and synthesize due diligence information including financial, market, demographic, site, federal, and state regulatory data.
- Devise the most accretive capital structures on a deal-by-deal basis using the financing tools unique to affordable housing.
- Oversee contract negotiation and review of legal documentation for equity and loan agreements, purchase and sale contracts, and ownership structures.
- Have direct oversight of Associates and Analysts whose primary responsibilities include review and completion of applications and documentation necessary for debt and equity financing, property purchase and sale, government subsidies, and rental contract maintenance.
- Validate and defend budgets, assumptions, and pro-forma analysis, including the identification of problems inherent to a given project.
- Ensure the long-term viability of each acquisition and serve as key contact/problem-solver throughout the entire post-acquisition lifecycle of each acquisition.
- The Vice President position is based in the Boston, MA office of the Related Companies local affiliate, Related Beal. The position reports to the Senior Vice President of Acquisitions of Related Affordable, who is located in New York City.
- The Vice President will work on transactions nationwide, but have a priority focus on those in the New England area.
- The Vice President is also expected to have significant professional contacts in the affordable housing industry, particularly in New England, and have the network, enthusiasm, creativity, and reputation to be able to source new acquisition opportunities in the region, including off-market opportunities.
- 5-10 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 deep understanding of the core tools of affordable housing finance, including tax-exempt bond financing, tax credits, project based section 8, and others.
- Excellent communication and interpersonal skills.
- Demonstrated ability to lead teams of Associates and Analysts.
- A passionate commitment to affordable housing preservation.
- An unblemished reputation for excellence, integrity, and character.
- A strong network of affordable housing professionals, both nationwide and particularly in the New England area.
- A strong network of lending, municipal and housing agency relationships, particularly in the New England area.
- Ability to work on-site in the Related Beal offices in Boston, MA.
- Bachelor’s degree preferably Finance, Accounting, Economics, or equivalent.
Please note that Related has adopted a COVID-19 vaccination policy to safeguard the health and well-being of our employees. As a condition of employment, Related employees working on-site are required to be fully vaccinated for COVID-19, unless a reasonable accommodation is approved or as otherwise required by law.
Related Companies is an equal opportunity employer.
Related Companies is a global real estate and lifestyle company defined by innovation and the most prominent privately-owned real estate firm in the United States with over sixty billion in assets owned or under development including the 28-acre Hudson Yards neighborhood on Manhattan’s West Side, The Grand and Related Santa Clara in California and The 78 in Chicago. Formed over 45 years ago, Related is the largest private owner of affordable housing and a fully-integrated, highly diversified industry leader with experience in virtually every aspect of design, development, acquisitions, management, finance, hospitality, sustainability, and sales. Related’s mixed-use, residential and commercial office properties have been consistently heralded for their placemaking vision – bringing together iconic design, arts and culture, dynamic programming, and innovative wellness programs. Headquartered in New York City, Related has offices and major developments in Boston, Chicago, Los Angeles, San Francisco, South Florida, Washington, D.C., Abu Dhabi and London, and boasts a team of approximately 4,000 professionals. Related was recently named to Fast Company Magazine’s list of the 50 Most Innovative Companies in the World. For more information about Related, please visit www.related.com.
Not the right job for you?