Director, Acquisitions

Women's Affordable Housing Network; New York (NY); On-site; USD 135,000 - 175,000; Full time

Job summary

An established industry player seeks a Director of Acquisitions to lead multifamily investment opportunities. In this dynamic role, you will collaborate with executive leadership to drive strategic decisions and advance housing policies. Your expertise in financial modeling and real estate finance will be crucial as you navigate the acquisition process, ensuring thorough due diligence and effective management of investment opportunities. This position offers a unique chance to impact communities positively while working in a fast-paced, entrepreneurial environment. If you are passionate about community development and have a strong background in real estate, this opportunity is perfect for you.

Qualifications

• 7+ years in investment banking, private equity, or commercial real estate.
• Expertise in Excel-based financial modeling and multifamily operating principles.

Responsibilities

• Oversee financial structuring and underwriting of multifamily investments.
• Manage the acquisition process from identification to closing.

Skills

Financial Modeling

Project Management

Verbal Communication

Problem Solving

Market Analysis

Education

Undergraduate Degree

Advanced Degree in Business Administration

Advanced Degree in Real Estate Finance

Tools

Excel

Job description

Contour Housing Partners (“Contour”) is a housing preservation firm focused on shaping the housing landscape of America through strategic investments in communities of need by raising and deploying mission-driven capital to preserve quality affordable housing.

Contour was formalized in 2022 by the leaders of Pennrose, LLC, a nationally recognized, vertically integrated owner-operator and developer of multifamily housing. The Contour platform exists synergistically within the context of this broader enterprise to create value and leverage Pennrose’s depth of experience and the capabilities of its various business units, including development, property management (PMC), and fund management.

Position Summary

The primary responsibility for the Director, Acquisitions is to oversee the strategic identification, financial structuring and underwriting, management of due diligence, and closing on multifamily investment opportunities in collaboration with Contour’s leadership, analysts, and the firm’s affiliates (e.g., Pennrose Management Company).

This position provides the opportunity to work in a fast-paced, entrepreneurial environment alongside executive leadership to drive decisions, advance housing policies, and help to improve the lives of households across the country.

This role is located in Contour’s New York office and reports to the President of Acquisitions.

Primary Responsibilities:

• Identify multifamily affordable investment opportunities by interfacing with the brokerage community, the Director’s own well-developed network, and Contour’s principals.
• Management of the acquisition process from identification through closing and stabilization of the predetermined investment program.
• Responsible for financial modeling completeness and accuracy, working with Vice Presidents, Associates and Analysts to ensure underwriting is thorough, conforms to company investment metrics, and is adequately supported by pertinent research (e.g., rent and sale comps, submarkets, demographics, physical characteristics, and other pertinent information available internally and externally).
• In conjunction with Pennrose’s asset management team, create and review capital budgets and business plans.
• Coordinate with third party property managers and other sources to help fully define and vet investment opportunities.
• Being the focal point of the due diligence process, including gathering and analyzing due diligence materials and coordinating third party reports. This includes verifying property details, market analyses, title/survey, rent comps, as well as causing property inspections, unit walks, lease file audits, and maintenance audits.
• Working with senior management, including Pennrose’s Capital Markets leadership, to identify optimal debt and equity strategies, including completion of applications and documentation necessary for financing.
• Coordination with external legal counsel on perfection of site control, government subsidy contracts, third party contracts, renewal.
• Oversight of performance of investments post-acquisition.
• Management of the acquisitions pipeline by maintaining an accurate asset portfolio.
• Obtain, organize, and maintain accurate transactional diligence across all stages of acquisition.

Professional Expectations

• Perform as project leader and communicator in many situations where working across all areas of the broader Pennrose enterprise is required; brings groups of people together for a common purpose of optimizing either our operations or our future investments.
• To make substantial contributions to analysis that will inform the firm’s investment strategy, criteria and decisions.
• Familiarity with private investor capital legal structures and accounting treatment, as well as with institutional joint-venture structures and processes.
• Exceptional written and verbal communication skills.
• Maintains awareness of socio-economic, political, and market-level dynamics and operational trends to inform investment activity.
• Possess ability to synthesize information into meaningful conclusions.
• Maintain accurate investment documentation.
• Quickly and independently verify that transactions are consistent with investment strategies.

Qualifications:

• Minimum 7 years of experience in either an investment bank, investment sales group, private equity firm, CRE lender or investor, or commercial real estate company.
• Undergraduate degree; advanced degree in business administration, real estate finance, accounting, or law is preferred.
• Expertise in Excel-based financial modeling, including composing multi-tier waterfall models.
• LIHTC and Section 8 experience.
• Strong command of multifamily real estate operating principles.
• Thorough comprehension of real estate finance, including DCF, NPV, IRR, cap rates, interest rates, and tax treatments.
• Commitment to mission-centric community development.
• Ability to independently operate and self-motivate to problem solve.
• Strong project management and verbal communication skills.

Salary Range:

$135,000 – $175,000 + Bonus

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