Hybrid Acquisitions & Investment Associate en The Community Preservation Corporation
The Community Preservation Corporation · New York, Estados Unidos De América · Hybrid
- Junior
- Oficina en New York
About Us:
The Community Preservation Corporation (CPC) believes stable and sustainable affordable housing is the foundation of strong communities and we strive to contribute to comprehensive neighborhood revitalization through our lending and partnerships. A nationally recognized leader in affordable housing finance, CPC has provided a consistent source of capital to underserved housing markets throughout New York State since our inception in 1974.
Today, CPC stands as the largest CDFI solely committed to investing in multifamily housing, having invested more than $15 billion to finance the creation and preservation of more than 230,000 units of quality housing in neighborhoods across New York State and beyond. CPC has a robust construction lending platform, a mortgage bank, and equity and impact investment platforms that focus on our three goals: Expanding Affordable Housing, Closing the Racial Wealth Gap and Investing in the Green Economy.
As a member of our team, you'll have the opportunity to work on impactful projects that make a real difference in people's lives. We're looking for talented individuals who are passionate about our mission and share our values of commitment, respect, excellence, accountability, and collaboration.
Background:
CPC’s Equity Investments platform invests CPC’s own capital into affordable, workforce, and transformational housing developments. Since 2017, our team has originated, acquired, and asset-managed a successful and diverse book of affordable housing investments—delivering strong mission-aligned and risk-appropriate returns. Our flexible investment thesis currently focuses on national opportunities around stabilized, cash-flowing properties. Our portfolio also includes funds and corporate capitalizations, and we are currently exploring new-construction and other opportunities. Our historic focus is New York City and State, but we are currently active nation-wide. We are also exploring the use of 3rd party capital.
Role Summary:
This role supports the AVP and VP of Acquisitions and Investments through the acquisition and investment process: underwriting assets, thinking creatively, and assessing partnerships. Under close supervision, you will perform a detailed investment analysis on prospective investments, markets, and assets; you will document and present your findings; and will support the closing process. The role is an exciting opportunity to develop and nurture relationships throughout the development community nationwide.
The position is ideal for a developing professional to learn and apply knowledge of affordable housing, and to deploy meaningful capital. You will be involved in– and learn more about – every aspect of the real estate industry, including: development, construction, negotiations, financial modelling, government policy, legal, documentation, and the internal operations of developers.
The successful candidate will be an execution-focused contributor to the growth of CPC’s investment portfolio and investment team. The candidate will be an enthusiastic learner and contributor. You will exhibit and develop strong numerical and writing skills.
Under direct supervision, you will:
- Evaluate incoming equity investment requests, including reviewing developer partners’ project pro formas and narratives, creating internal pro formas, and calculating equity return metrics.
- Stress- and sensitivity-test assumptions to confirm investment viability; review architectural plans and constructability; review plans and materials; assess all ancillary documentation such as property and environmental reports.
- Research and analyze developers, properties, policies, neighborhoods, and other factors of a potential investment to ensure conformance with equity program requirements.
- Liaise with potential developer partners to identify and gather pertinent documents and related information on economics of properties to be used in evaluating potential investments.
- Participate in JV negotiations, developing an understanding of key areas of risk and opportunity.
- Manage closings and diligence; interface with development partners, banks, and co-investors.
- Provide support to asset management team to ensure alignment of ongoing operations with original projections.
- Work collaboratively with the appropriate CPC team(s) to support our innovative deployment of capital across construction lending, permanent lending, and impact investments.
- Balance both Mission-driven objectives and economic objectives
- Perform other duties as directed or required.
Skills and Experience:
- Master’s degree and experience in finance, real estate development, or a related field. Alternative evidence of excellence in the field may be considered by CPC.
- Strong Excel and financial analysis skills; able to efficiently analyze real estate pro formas.
- Strong written and communication skills, including the ability to identify and highlight key project details.
- Strong organizational skills with the ability to prioritize and multi-task; detail-oriented.
- Strong deal level skills – must know where the challenges and opportunities exist within a real estate deal.
- Knowledge of the affordable housing industry, key players, and financing programs.
- Demonstrated ability to self-motivate, with a proven ability to work independently and as a member of a team.
- Comfortable in a dynamic, fluid environment; ability to create strategic execution frameworks
What We Offer:
- Competitive compensation
- 401(k) retirement plans with employer match
- Medical, dental, and vision benefits for employees and their dependents
- Commuter benefits
- PTO for vacation, personal days, sick leave, holidays, jury duty, bereavement, parental leave, and disability
- Tuition assistance program
- Two “work from anywhere” weeks per year
- Summer Fridays
- Collaborative working spaces
- Service days to support our communities
- Employee development and engagement events
- More about our offerings and culture here
This is a full-time, hybrid role where you will work from the Manhattan office two - three days a week. The salary range is $80,000 – $95,000, dependent on experience.
The Community Preservation Corporation is an Equal Opportunity Employer and all employment-related decisions including recruitment, selection, evaluation, promotion, compensation, training and termination are made without regard to race, creed, color, national origin, sex, disability, marital status, status as a veteran, sexual orientation or gender identity, or any other protected status.
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