HEAD OF AFFORDABLE HOUSING ACQUISITIONS
BH Properties is a privately held commercial real estate investment firm focused on value-add acquisitions in office, industrial, retail, and multi-family properties throughout the Western United States, along with investments in distressed debt and ground leases. The Company is vertically integrated, with offices in Los Angeles, San Francisco, Seattle, Riverside, Phoenix, Dallas, and Houston, and is able to acquire and close transactions without the need for lengthy due diligence periods. Our 31-year track-record and balance sheet allow us to move quickly and creatively, structuring acquisitions to satisfy seller needs in a highly competitive market. Today, the Company owns and operates approximately 10M square feet across 18 states.
POSITION
Initially reporting to the President & CEO and working in partnership with the Head of Strategic Investments, the Head of Affordable Housing Acquisitions will be responsible for strategy, originating, underwriting, and closing Affordable Housing transactions in multiple markets with an initial focus on age restricted opportunities. The successful candidate will have extensive acquisition experience and a deep understanding of the regulatory agreements encumbering affordable housing properties and the nuances that create a compelling acquisition. The Company anticipates a focus on existing properties or portfolios in lieu of ground-up developments.
LOCATION
Preferred location in either Los Angeles.
Responsibilities
Focused on affordable housing, the candidate will be a key member of the Company’s acquisition team working in partnership with other acquisition professionals in a collaborative, team-oriented environment.
In addition:
- Participate in establishing a 5-year operating plan to scale the opportunity
- Build out the necessary infrastructure to support the strategy
- Oversee the acquisition process, including sourcing, managing due diligence, reviewing third party reports, and working with legal and finance teams to facilitate closings
- Prepare market analysis, underwriting and deal summaries for opportunities being recommended
- Develop relationships within the brokerage, developer, and lender communities in target markets to facilitate opportunities
- Attending selected conferences
Qualifications
- 5-10 years of real estate acquisition and underwriting experience
- Knowledge of the federal affordable housing programs (LIHTC & HAP) along with other legacy programs
- Understanding of the various tax and financing alternative programs
- Established relationships with regional third-party management companies
- Established relationships within the investment sale broker community
- College degree in real estate, business, finance, or accounting
- Advanced degree a plus
- Knowledge of market rate multi-family acquisitions a plus
- Strong quantitative and analytical abilities; ability to quickly assess deal viability
- Outstanding analytical, verbal, and written communication skills
- Ability to communicate and develop effective working relationships with others in a team oriented, collaborative and deadline driven environment
- Team player who loves to brainstorm, problem solve and who can think independently
- Travel required
Compensation
$175,000-$200,000
We offer an excellent compensation package, and an exciting opportunity to grow and develop with a well-capitalized entrepreneurial real estate investment group. For immediate consideration please submit a resume with salary expectations. Resumes submitted with salary requirements will be considered first.
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