Role Summary: The Acquisition Associate will play a critical role in sourcing, evaluating, and executing mission-aligned real estate transactions. You will work directly with the CEO and Senior Development Team to build financial models, lead due diligence workflows, and structure partnerships.
Key Responsibilities
Financial Modeling & Underwriting:
Build and maintain complex acquisition pro formas including development budgets, operating expenses, and cash flow projections.
Model scenarios for various financing structures, including Low Income Housing Tax Credits (LIHTC), Tax-Exempt Bonds, HPD/HDC term sheets, the HUD 202 program, rent stabilization, and Federal, State, and City tenants' subsidies.
Prepare investment memos that succinctly summarize risks, mitigants, financial returns, and mission fit for the Catholic Homes Board.
Deal Sourcing & Pre-Development:
Evaluate existing buildings for acquisition and perform initial analysis.
Maintain a pipeline of off-market opportunities through relationships with brokers, property owners, parishes, and community partners.
Conduct market research, including sales comps, neighborhood rent comps, operating expense analysis, and demographic trends.
Due Diligence & Closing:
Manage the due diligence checklist, coordinating with third-party vendors and legal counsel.
Assist in the preparation of financing applications for public agencies (HUD, HPD, HFA, HDC).
Track critical dates, covenants, and contingencies to ensure timely closings.
Collaboration:
Act as a bridge between the Development, Asset Management, Social Services providers, and Property Management teams to ensure underwriting assumptions align with operational realities.
Engage with residents and local communities to guide property improvements and services, ensuring they genuinely address the needs and priorities of those we serve.
Qualifications
Required:
Bachelor's degree in Real Estate, Finance, Urban Planning, or a related field.
Ability to build dynamic financial models from scratch.
Understanding of real estate finance fundamentals.
Strong written and verbal communication skills.
Ability to operate independently in a fast-paced environment with limited supervision
Commitment to the mission of providing high-quality housing for low-income New Yorkers.
Preferred:
3-5 years of experience in affordable housing development or real estate finance.
Familiarity with NYC specific agencies and regulatory agreements.
Compensation & Benefits
Salary Range: This position offers a salary range of $95,000 to $110,000, with the final offer determined based on the candidate's experience and relevant expertise.
Benefits: Comprehensive benefits package through Catholic Charities, including health, dental, and vision.
Vacation: 4 weeks of paid vacation annually, plus holidays.
