AFFORDABLE HOUSING ACQUISITIONS
COMPANY
BH Properties is a p ri v ately held c o m m e rcial r e al es t ate i n v e s t m e nt f irm f ocu s e d on value-add a cqui s itions in office, industrial, retail, and mult i - f am i ly prop e rties throughout t h e W es tern U nited Stat e s along with investments in distressed debt, ground leases and affordable housing. The Company is vertically integrated, with offices in Los Angeles, San Francisco, Riverside, Seattle, Phoenix, Dallas, and Houston and is able to acquire and close transactions, in most cases, in as little as ten days. Founded thirty (30) years ago and operating with no outside capital partners allows us advantages in moving quickly and creatively in structuring acquisitions to satisfy seller needs. 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 e xt e n s i v e a cqui s ition exp e r i e nce 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.
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 resume with salary expectations. Resumes submitted with salary requirements will be considered first.
LOCATION
Preferred location in either Los Angeles.
R ESPONSIBILITIES
Focused on affordable housing, t he candidate wi l l b e a ke y m em b e r o f 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
- O v e r s e e the a cqu i s ition p roc e ss , i n clu d ing sourcing, managi n g d ue d il i g e nc e , r e v i ew ing third party r e ports, a nd working w ith legal and finance teams to facilita t e c lo s ings
- Prepare m arket a n al y s i s , u n d e r w riti n g and deal su m m ari e s for opport u niti e s b e ing re c o mm e nd e d
- D e v e lo p r e l atio n s hips within the b rokerage, developer, a n d lender co m m uniti e s in targ e t m arke t s to facilitate opportunities
- Attend selected conferences
QUALIFICATIONS
- 5- 10 y e ars of r e al e s tate acquisition and underwriting ex p e ri e n c e
- 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 d e gr e e in r e al e s tate, bu s i n e s s , fina n c e , or ac c ounti n g.
- Ad v a n c e d d e g r e e a p lus
- Knowledge of market rate multi-family acquisitions a plus
- Strong q ua n titati v e a nd a nal y tical a b il i ties; ability to quickly assess deal viability
- Out s tanding analytical, ve r b al, a n d wri t ten co mm unication sk i lls
- Abil i ty to com m unicate a nd d e v e lop e f fe ct i v e w orki n g relation s hips w ith ot h e rs in a team ori e nted, collaborative a nd d e a d line dri v e n e n v iro nm e nt
- T e a m pla y e r w ho lo v e s to b rain s tor m, problem solve and who can think in d e p e nd e ntly
- Travel required