Director, Housing Transactions
Locations: Los Angeles, CA; San Francisco Bay Area, CA; Seattle, WA (Remote)
Employment Type: Full-time
About the Employer
HR&A Advisors, Inc. is an employee-owned company advising public, private, non-profit, and philanthropic clients on how to increase opportunity and advance quality of life in cities. From Brooklyn to London, Medellin to Hong Kong, HR&A has guided hundreds of clients in transforming real estate and economic development concepts and public infrastructure into actionable plans and then into job-producing, community-strengthening assets. HR&A has offices in Atlanta, Dallas, Los Angeles, New York, Raleigh, Washington D.C. and the Bay Area.
Role Summary
The Housing Affordability Practice is seeking a full-time Director with a focus on housing transactions to structure funds and underwrite and close loans and investments in mixed-income and affordable housing developments. The Director will join the Los Angeles or San Francisco Bay Area office, with remote options available for candidates in the Seattle metro area. This is a seasoned career professional role with 6–10 years of professional experience who will collaborate with the Partner-in-Charge of HR&A's Housing Practice, other Directors and Principals, and direct the work of Analysts. Most work will be organized into small teams of three to five members comprised of colleagues from across offices.
What You'll Do
Transaction Management
- Screen, underwrite, and close loans, grants, and investments in mixed-income and affordable housing acquisitions and developments
- Manage relationships with project sponsors, typically for-profit and non-profit housing developers and owners
- Structure and negotiate business terms of loans and investments to maximize public benefit and mission while mitigating risk based on established underwriting guidelines
- Oversee the work of analysts assigned to transactions and ensure the completeness and quality of all client deliverables including screening, underwriting, and closing memos and Excel financial underwriting models
- Effectively present analysis and approval recommendations to internal investment committee and to clients
- Collaborate with client's business, legal and finance teams, as well as third parties including outside legal counsel, to conduct due diligence, review and approve third-party reports, and negotiate legal documents
- Coordinate the closing process by working with project sponsors, lenders, and other stakeholders such as public agencies and subsidy providers
Product Development
- Develop innovative housing investment vehicles that enable solutions identified in policy and planning processes
- Work with current and potential clients to establish investment terms that balance financial return thresholds, risk tolerance and mission investing objectives
- Conduct market research to identify and size gaps in the existing housing finance market for affordable and mixed-income housing
- Support the negotiation of partnerships with other investors and public sector partners
- Evaluate the feasibility of implementing and monitoring new investment vehicles
- Organize workshops and outreach events with community, public sector, nonprofit and for-profit investors
- Run request for proposal processes to select development partners
- Support new business development opportunities through writing proposals and outreach to potential clients
Required Qualifications
- 6–10 years of work experience in housing finance, housing policy analysis and design, housing market analysis, affordable housing finance, and/or consulting in a related field
- 5–7 years of experience in Real Estate Development or Finance, including 4+ years of real estate underwriting experience, preferably with affordable multifamily, and 2+ years of relationship management
- Thorough knowledge of common underwriting practices and procedures
- Thorough understanding of housing and affordable housing related market forces including general real estate principles, supply and demand economics and other multifamily demand drivers
- High degree of proficiency in real estate financial modeling
- Ability to synthesize data and craft compelling narratives
- Comfort presenting to internal senior leadership and external clients
- Strong project management experience, including professional and interpersonal communication skills aligned with guiding teams
- Passion and interest in developing and implementing new programs and policies to address housing challenges
Preferred Qualifications
- Experience with affordable housing finance
Compensation
$141,600–$163,779 base salary, plus the opportunity for a discretionary year-end bonus. Where an offer falls inside this pay range is dependent on experience.
Benefits
Comprehensive benefits package including coverage of 90–95% of healthcare premiums, dental and vision coverage. Participation in the Employee Stock Ownership Plan with annual firm contributions to this long-term wealth-building account and possible contributions to other retirement accounts.
Additional Information
Work Arrangement: Hybrid. Employees work from the office at least two days a week, which allows individuals the freedom to balance their professional and personal lives while maintaining a strong connection to their teams.
How to Apply
To apply, click here. Please submit a version of your resume and cover letter with your school information removed. List your degree (e.g., B.A. Economics) but remove all references to undergraduate and graduate schools you have attended. For more information, contact jobs@hraadvisors.com.
Equal Opportunity Statement
HR&A is committed to attracting and retaining a talented, diverse, competitive team of professionals. Women, people of color, members of the LGBTQ community, individuals with disabilities, and veterans are strongly encouraged to apply. All qualified candidates will receive consideration for employment without regard to race, religion, ancestry, national origin, sex, sexual orientation, gender identity or expression, age, disability, marital status, medical condition, veteran status or any other basis as protected by federal, state, or local law.