Responsibilities

Related Fund Management ("RFM") manages several investment vehicles that acquire, renovate, and operate affordable housing and market rate multifamily properties, with approximately 10,000 units owned across these investment vehicles today. This role will support RFM's Affordable Housing team to underwrite, finance, and close new affordable housing investments across RFM's various affordable housing investment vehicles, working closely with senior deal team members across the full transaction lifecycle from sourcing through closing.

• Underwrite new investment opportunities for LIHTC, Section 8/PBRA, and other affordable housing assets, including detailed cash flow models
• Conduct property- and portfolio-level due diligence, including review of operating statements, rent rolls, regulatory agreements, and physical condition and environmental reports
• Create and present investment committee memoranda, market studies, and other diligence materials to support new investment decisions
• Coordinate debt and equity financing processes, including engagement with lenders, agencies (Fannie Mae/Freddie Mac/HUD), and tax credit investors
• Support negotiation and drafting of purchase and sale agreements, loan documents, and joint venture agreements in coordination with legal counsel
• Manage the closing process, including tracking diligence checklists, closing deliverables, and coordination among internal and external stakeholders
• Source and evaluate new investment opportunities through broker, seller, and other market relationships
• Monitor affordable housing market trends, competitive dynamics, and regulatory developments (e.g., LIHTC, HUD, state HFA programs) to inform investment strategy
• Assist with refinancings and recapitalizations of existing affordable housing assets
• Support management of property dispositions, including buyer diligence, marketing coordination, and closing

Qualifications

• Bachelor's degree in Finance, Real Estate, Economics, Accounting or similar field
• 3-5 years of experience in real estate acquisitions, investment banking, or affordable housing investing/development, including direct experience with LIHTC partnership investments, Project-Based Section 8 assets, and LIHTC assets
• Strong financial modeling skills, including cash flow waterfalls, IRR and equity multiple analysis
• Familiarity with affordable housing programs (LIHTC, Section 8/PBRA, HUD) strongly preferred
• Working knowledge of debt and equity capital markets, including agency and tax-exempt bond financing
• Exceptional time management and prioritization to manage multiple transactions with competing deadlines
• Excellent written and verbal communication skills
• Strong attention to detail and analytical rigor
• A passion for real estate, an active entrepreneurial mind, and a strong work ethic to succeed in a dynamic, deal-driven environment
• Travel required as needed for diligence, closings, and site visits
• 100% in office position

Overview

Related Fund Management is a multi-strategy real estate investment manager that currently manages approximately $12 billion in commingled funds and separately managed accounts on behalf of public and private pension plans, endowments, family offices, insurance companies, and sovereign wealth funds. RFM was founded in 2009 and currently employs over 50 professionals located in New York, Florida, California, and Texas. RFM is affiliated with The Related Companies ("Related") and through a shared services agreement, can leverage Related's resources, expertise, and personnel based on the needs of its business and investment activities. Since inception, RFM has invested across all portions of the capital stack and in all major real estate sectors.

Formed in 1972, Related is the most prominent privately-owned real estate firm in the United States. Headquartered in New York City, the company has offices and major developments across the world. Related owns and manages a premier portfolio of assets valued at over $100 billion, including the 28-acre Hudson Yards neighborhood on Manhattan's West Side.