A Brief Overview
HCP has adopted a Project Management based system with Project Management Teams taking the lead on developments from the time the Letter of Intent is signed through the closing of the permanent loan. Reporting to a Senior Director, the Director will be responsible for coordinating due diligence, reviewing the forecast model and project documents, and highlighting/identifying risks and other issues throughout the course of project evaluation. The Director will take Lead negotiating project documents, working with credit and underwriting departments, construction risk management, outside counsel, the development team, asset management and fund management personnel in acquiring the limited partnership interest in the projects and overseeing them through conversion to permanent financing.
What you will do
- Review financial feasibility of project, focusing on construction sources and uses, operating expenses, projected income and permanent financing sources.
- Make recommendations regarding modifications to financial structure to maximize return and minimize risk to HCP and its investors.
- Evaluate transactions to highlight risks and other issues, including: budget adequacy, timing of funding, adequacy of reserves, capital account sufficiency, minimum gain analysis, residual analysis, and DSCR trending.
- Work with counsel to complete the review and negotiations of financing documents with multiple lenders.
- Respond to Developer, Investor and other departmental inquires by remaining knowledgeable on the status of current projects though a work-in-process preparation of checklists and project summaries, understanding the importance of each document and its relationship to the transaction.
- Coordinate activities of other departments towards closing of project. Work with in-house construction and underwriting departments, as well as counsel towards a closing.
- Maintain project due diligence files with required documentation.
- Oversee project during construction period and coordinate progress with construction department. Approve monthly construction draws, as applicable.
- Provide quarterly reports and risk ratings for each assigned project, beginning at closing and continuing until conversion to permanent financing.
- Coordinate and approve equity contributions pursuant to the project partnership agreement.
- Obtain approval for conversion to permanent financing from Investor Relations department, and oversee the conversion process.
- Work with Investor Relations team in responding to investor inquiries.
- Work with counsel and the Acquisitions staff to negotiate the project partnership agreements with developers.
- Review project documents, such as, but not limited to, Tax Credit Applications, Market Studies, Appraisals, Environmental Site Assessment Reports, Project Approvals and other documents in conjunction with underwriting project feasibility. Work with Developer to identify and resolve issues and conflicts within project documents.
Qualifications
- Bachelor’s Degree in accounting, finance, economics, mathematics, urban planning, real estate development, or equivalent Required or
- 4-6 years of related work experience in the low-income housing tax credit industry. Required and
- Experience with the escrow process and understanding of title and survey issues. Required
- Knowledge of key aspects of finance and accounting, including an understanding of general accounting principles, partnership accounting and tax allocations and loan structuring.
- Knowledge of key aspects of real estate development, land use and entitlement, property due diligence and acquisition, and site planning and design preferred.
- Ability to initiate and maintain effective and cooperative working relationships with team members, government agencies, consultants, lenders, investors, and developers.
- Strong analytical and problems solving skills; ability to identify and resolve issues.
- Good client and public presentation skills; excellent oral and written communication skills.
- Exceptional organizational skills, highly attentive to detail and able to perform tasks with limited supervision in a time sensitive work environment.
- Exercise sound judgment and fairness in decision-making.
- Maintain the strictest confidence when handling confidential and non-routine information and matters.
- Communicate with co-workers, management, clients, and others in a courteous and professional manner.
- Conform with and abide by all regulations, policies, work procedures, and instructions.
- Computer literacy and experience working with Microsoft Office software programs and Adobe.
- High level of proficiency with Microsoft Excel
- Requires a self-motivated, team player who pays close attention to detail and must be able to adapt to a fast-paced environment and effectively manage a high-volume case load.
- Ability to work independently but also thrive in a dynamic and team-oriented environment.
- Results-oriented with strong project management and execution skills.
- Strong interpersonal, communication and customer service skills with ability to sustain strong relationships with clients, peers, and business partners.
- Ability to interact with multiple levels in an organization and industry professionals.
- Think critically while balancing business goals with prudent risk management.
Compensation
We are committed to offering competitive and equitable compensation. The hiring range for this position is generally between $148,000 – $197,000, exclusive of fringe benefits or potential bonuses. This position is also eligible for a performance bonus. Final salaries will be determined based on factors such as geographic location, skills, education, licenses, certifications, and/or experience. In addition to these factors – we believe in the importance of pay equity. Please keep in mind that the range mentioned above is the general Hiring Range for the role. Hiring at the top of the range is reserved for exceptionally qualified candidates. We consider internal and external factors as a part of every final offer. We also offer a generous total compensation and benefits package.
Benefits
A competitive salary is only one part of your total rewards. We also offer a comprehensive benefits package, including paid time off, medical, dental, life and disability insurance, HSA/FSA accounts, retirement, rewards programs, and so much more!
You must be able to pass a drug, background screen and physical abilities test/motor vehicle record check (if one is required per the position).
EEO/ADA
The Company and its affiliates provides equal employment opportunity to all individuals regardless of their race, color, creed, religion, gender, age, sexual orientation, national origin, disability, veteran status, or any other characteristic protected by state, federal, or local law. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.