Gilbane Development Company is seeking a Senior Acquisitions Manager to join our Affordable & Mixed-Income development team. As a Senior Acquisitions Manager, you will play a pivotal role in Gilbane Development’s value-add/opportunistic investment platform under the Affordable & Mixed-Income Division, leading our efforts in the acquisition of existing affordable housing projects across the United States. You will leverage your analytical skills to shape decisions, lead cross-functional teams, and ensure the successful execution of projects from conception to completion.
Responsibilities Lead the sourcing, identification, underwriting, acquisition and execution of affordable housing acquisition projects (including Section 8 and LIHTC executions/resyndications), managing proformas, schedules, and resources effectivelyBuild relationships with brokers and market participants to generate sourcing opportunitiesDevelop a deep understanding of how to make affordable acquisitions deals financially successfulWork closely with HUD for assignment and assumption of Section 8 contracts, approval of Mark-Up to Market, and any required financingWork in partnership with applicable state and local agencies to obtain required approvals, resources and financial resourcesCompile due diligence information, including financial, market, site, and regulatory dataAnalyze and compare complex partnership agreements and cash flow waterfallsNegotiate partnership agreements with joint venture partners and equity providersWork collaboratively with the Senior Vice President to develop short- and long-term strategies to expand the affordable acquisitions platformComplete applications and documentation necessary for debt and equity financing, property purchase and sale, and government subsidy renewalWork with counsel to negotiate all real estate transaction related documents, including purchase and sale documents, loan documents, equity investment agreements, and operating agreements of all typesValidation and defense of budgets, assumptions, and proforma analysisBuild, coordinate and lead internal team members and external consultants through conceptual design and entitlements leading to construction documentsPerform, coordinate and / or lead pre-acquisition work such as drafting letters of intent, creating initial proformas, developing preliminary renovation scopes of work, and obtaining preliminary feedback from debt and equity providersSupervise and lead staff. Mentor and develop team members, fostering a culture of excellence, innovation, and accountability. Complete employee evaluations of assigned staff annually and interim evaluations as required Qualifications BS or MS in Real Estate, Business, Finance, Marketing, Civil Engineering, Architecture, or related field8+ years of experience in multifamily real estate acquisitions with an emphasis on Section 8 and LIHTC executions/resyndicationsExtensive experience with Section 8, Mark-Up to Market, agency financing, and LIHTC executionsStrong quantitative, financial analysis and modeling (excel) skillsExceptional research and writing abilitiesStrong project management skills and follow-throughAbility to multi-task and prioritize appropriately in a constantly changing environment with a sense of urgency and accountabilityHighly driven and values entrepreneurialism; works well within ambiguityStrong broker relationships with firms who specialize in marketing Section 8 assets preferredExisting relationships with LP equity providers preferredExperience acquiring properties in multiple states preferredExceptional attention to detailSome travel required
Salary to be determined by the education, experience, knowledge, skills, and abilities of the applicant, internal equity, and alignment with market data.
For New York, NY this ranges from $225,000 to $300,000 in annual compensation plus benefits, retirement program, and potential long-term incentives.
Gilbane offers an excellent total compensation package which includes competitive health and welfare benefits and a generous profit-sharing/401k plan. We invest in our employees’ education and have built Gilbane University into a top training organization in the construction industry. Qualified applicants who are offered a position must pass a pre-employment substance abuse test.
Gilbane is an Affirmative Action/Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to age, color, national origin, race, religion, sex, sexual orientation, gender identity, protected veteran status, or disability status.
Note to Recruiters, Placement Agencies, and Similar Organizations: Gilbane does not accept unsolicited resumes from agencies. Please do not forward unsolicited agency resumes to our jobs alias, website, or to any Gilbane employee. Gilbane will not pay fees to any third party agency or firm and will not be responsible for any agency fees associated with unsolicited resumes. Unsolicited resumes received will be considered property of Gilbane and will be processed accordingly.
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