Senior Associate
Location: New York, NY
About the Employer
Sena Affordable Communities (“Sena”) is the LIHTC acquisition and redevelopment affiliate of L+M Fund Management (“LMFM”), both members of the L+M Development Partners family of companies. Since 2014, the principals of Sena have been instrumental in the acquisition and renovation of over 10,000 units representing $2.8 billion in transactions across multiple markets in New York’s tristate area, Washington D.C., the West Coast, and the Sunbelt, Gulf Coast, and Midwest regions. Sena acquires affordable multi-family assets with the goal to renovate and modernize them while preserving and extending long-term affordability through the use of Low-Income Housing Tax Credits and tax-exempt bonds.
L+M Fund Management (“LMFM”) has been committed to investing in, acquiring, and preserving workforce, affordable, and mixed-income multi-family housing in high-growth metro areas across the U.S. since 2010. LMFM invests in and operates workforce and affordable assets on behalf of institutional investors and, to date, has acquired over 21,000 units and $4.7 billion in transactions. LMFM utilizes institutional third-party equity and has raised more than $1 billion of total equity across multiple investment vehicles. For more information, please visit http://lmfm.com.
LMFM is an affiliate of L+M Development Partners (“L+M”), founded in 1984. L+M is a full-service real estate development firm that develops, invests, constructs, and manages properties with industry-leading innovation in a variety of urban markets nationwide, primarily in the New York Tristate Area—recognized as one of the top affordable housing developers in the country, L+M and its affiliate companies are responsible for approximately $20 billion in development and investment and have over 57,000 high-quality residential units in construction or that have been acquired, preserved, or completed.
Team Overview
Sena is seeking a Senior Associate to join an experienced team responsible for growing the LIHTC acquisition and redevelopment business across select markets nationwide. This is a cross-functional position working closely with the entire team, including senior leadership, encompassing underwriting and financial modeling, deal execution, and asset management functions.
Role Summary
The Senior Associate role is suited for a dynamic, versatile team player who brings a broad mix of hard skills, such as financial modeling, analysis, and valuations, along with soft skills, including storytelling and presentation building, to support acquisitions and redevelopment efforts across multiple markets.
What You’ll Do
- Perform financial modeling and analysis to evaluate and structure potential transactions.
- Assist with transaction closings, including processing due diligence requests, legal documents, and financing applications for housing finance agencies, lenders, and investors.
- Support acquisitions efforts by evaluating offering memorandums, responding to Requests for Proposals (RFPs), preparing investment analyses and memos, and providing recommendations.
- Travel to property sites for inspections, due diligence, and meetings with residents, officials, and community stakeholders.
- Support design and construction decisions in close coordination with third-party consultants, including architects and engineers, and participate in meetings and construction administration.
- Work with asset management and property management teams to monitor ongoing operations of properties in the portfolio.
- Assist with managing the day-to-day execution of acquisitions and rehabilitation projects.
- Grow into being the primary contact on certain project matters.
Required Qualifications
- Minimum of 2 years of relevant work experience, specifically managing and underwriting affordable housing properties, including HUD, Section 8, tax-exempt bonds, and LIHTC.
- Undergraduate and/or graduate degree.
- Strong quantitative, analytic, and organizational skills with attention to detail.
- Excellent interpersonal and communication skills, both oral and written.
- Strong proficiency in Microsoft Office, specifically Excel, Word, and PowerPoint.
- Knowledge of affordable housing finance.
Preferred Qualifications
- Background in community development and/or construction.
Compensation & Benefits
LMFM offers competitive compensation and benefits and tremendous potential with a growing residential real estate developer and builder organization. The hiring salary range for this role is $140,000 to $190,000 USD.
Equal Opportunity Statement
LMFM is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, or national origin.
