Associate, Development

L+M Development Partners LLC; New York (NY); On-site; USD 90,000 - 140,000; Full time

Job summary

L+M Development Partners LLC seeks a development and finance professional to lead expansion of its LIHTC new construction platform beyond New York. You will collaborate with LMFM and LMDP teams to evaluate markets, underwriting, and financing strategies.

The role focuses on responding to RFQs/RFPs, evaluating acquisition opportunities, and coordinating with public agencies, lenders and equity investors to grow the pipeline and ensure project viability.

Qualifications

• BS or MS in Real Estate, Business, Finance, Marketing, Civil Engineering, Architecture, Urban Planning or related field.
• 3+ years of affordable housing real estate development and finance.
• LIHTC and tax-exempt bond experience preferred.

Responsibilities

• Develop and implement strategies to expand L+M’s LIHTC new construction into Texas, the Southeast, Mid-Atlantic, Florida and Ohio.
• Lead screening and underwriting of development opportunities, monitoring risk and adapting to financing conditions.
• Support regional leads on evaluation of LIHTC and debt proposals, term sheets, and project structuring.
• Evaluate acquisitions and JV opportunities with other operators and manage integration where applicable.
• Collaborate with regional leads on RFQs/RFPs to generate additional pipeline.
• Perform financial analysis for special projects, exploring new product types and structures.

Education

BS or MS in Real Estate, Business, Finance, Marketing, Civil Engineering, Architecture, Urban Planning or related field

Job description

Areas of Responsibility

• Develop and work with the LMFM and LMDP teams to implement strategies for the expansion of L+M’s LIHTC new construction platform into new markets outside of the business’s core New York region, including Texas, the Southeast and Mid-Atlantic, Florida and Ohio
• Lead screening and underwriting of new development opportunities in order to ensure consistency with L+M core values and business practices, including market risk management, monitoring of pre-development exposure and adaptation to changing financing conditions
• Provide support to regional development leads on evaluation of different LIHTC and debt financing proposals and strategies related to later-stage development projects, including proposal evaluation, term sheet negotiations, and structuring
• Evaluate acquisition and joint venture opportunities with other regional operators when accretive to LMDP’s expansion goals, and manage the integration of such operators into L+M’s platform when applicable
• Work collaboratively with regional new construction leads on responses to RFQs and RFPs in order to generate additional pipeline for the business
• Perform financial analysis for special projects by evaluating new product types and financial structures (e.g. LIHTC BTR, gap equity financing)

Minimum Education Requirements

• BS or MS in Real Estate, Business, Finance, Marketing, Civil Engineering, Architecture, Urban Planning or related field

Minimum Experience Required

• 3+ years of experience in affordable housing real estate development and finance

Additional Knowledge, Skills and Abilities

• LIHTC and tax-exempt bond experience and expertise required.
• Highly organized and detail-oriented with strong project-management skills.
• Experience responding to public proposals and working collaboratively with public agencies, with direct RFQ/RFP experience preferred
• Leadership experience, with demonstrated success in driving results, ability to manage multiple priorities and meet deadlines in a fast-paced, dynamic environment and values accountability
• Strong understanding of financial markets, debt products, and regulatory requirements, with the ability to articulate complex financial concepts to a diverse audience.
• Strategic mindset with the ability to develop and execute business objectives.
• Excellent communication skills, including written, verbal, and presentation abilities
• Track record of building and maintaining relationships with agencies, partners, sponsors, lenders and equity investors.
• Extremely versatile, accustomed to "wearing many hats" and shifting between them.
• Ability to work in a dynamic environment that requires execution of recurring deliverables as well as projects and initiatives in support of a growing business.