Housing Acquisition Fund Manager
East Bay Asian Local Development Corporation (EBALDC) is seeking a regular full time Housing Acquisition Fund Manager in the Real Estate Development department in Oakland, CA.
The Housing Acquisition Fund Manager (“the Manager”) will be responsible for coordinating and leading all aspects of due diligence, underwriting and acquisitions for the corporations Housing Acquisition Fund (HAF) in the East Bay and play a significant role in creating innovative strategies for asset and property management to meet investment and strategic goals. With the support of 1-2 staff, the Manager will be the primary staff person responsible for accelerating our HAF program to a level that can sustain acquisition and capital improvement of 200-300 apartments per year with an ultimate goal of stabilizing affordability for Oakland’s housing market.
Key Duties and Responsibilities:
- Underwrite all potential acquisitions, consider all comparable properties/market factors and indicators, become familiar with EBALDC’s investment and mission goals, develop initial asset plan for rents, capital improvements, and operational changes and present to the Real Estate Investment Committee.
- Work directly with the Associate Director and Director to refine investment strategy.
- Negotiate directly with sellers and brokers to secure acquisitions with the best possible terms.
- Develop detailed investment packages for investment committee approval including the modeling of financial projections with detailed capital and operating budgets.
- Underwrite and perform due diligence for multifamily apartments in a number of strategically selected markets.
- Lead interactions with in-house asset and property management staff as well as third party property managers to manage the real estate investment process, which may include the execution of renovation plans.
- Develop annual operating and capital budgets with the operations team.
- Lead on sourcing projects with financial institutions, equity investors and others
- Work with Director of Portfolio to find potential synergies with existing portfolio operations.
- Work with Director of Portfolio to ensure that there is no disruption in building operations when new property manager takes over.
- Coordinate with property management to oversee any required capital improvements.
- Supervise one or two members of the acquisitions team.
- Work with Director of Portfolio to determine if portions of acquired portfolios are more appropriate to transfer to partner organizations.
- Attend EBALDC organizational, departmental and board meetings, as needed.
- Represent EBALDC at local and statewide associations, city council, housing committees, planning and zoning committee and other community meetings, as needed for HAF projects.
- Attend training and industry conferences that are recommended by RED Director.
- Other projects as assigned by RED Director.
Required Knowledge, Skills & Abilities:
- A minimum of three to five (3-5) years of multifamily acquistions. Experience with multifamily housing finance and affordable housing finance a plus.
- Strong verbal and written communication skills and interpersonal skills.
- Careful attention to detail and well-organized.
- Ability to adjust to changing situations and work under pressure.
- Ability to balance competing priorities to meet deadlines for multiple real estate projects.
- Creative conflict-resolution and problem-solving skills.
- Understanding and ability to manage construction and real estate budgets, plans and schedules.
- Ability to work independently and with a team.
- Proficiency with Microsoft Word and Excel programs.
- Bachelor’s Degree in Business Administration, Planning, Architecture or a related field.
- Valid U.S. Driver’s license.
Preferred Skills, Experience & Qualifications:
- Significant Real Estate acquisition and renovation experience in Alameda and/or Contra Costa County.
- California Real Estate Brokers License.
To apply for the Housing Acquisition Fund Manager position, please click the link below. Please do not call.
Benefits and Other Information
EBALDC offers excellent benefit. EBALDC pays up to 95% of employee premiums and 60% of dependent premiums for Medical, Dental, Vision, LTD and Life, EAP, Retirement, Paid Time Off, CA Paid Sick Leave, Holidays and Wellness Days off for all eligible employees.
**All candidates will be subject to a background check.**
EBALDC is an EOE/AA Employer.