As a Senior Associate, you will gain firsthand knowledge of how the capital markets influence financial decision-making for both public, private, and public-private-partnership investments in housing. With the increased emphasis on delivering more housing within our communities, Align is poised for considerable growth and will be a real estate advisory leader in the marketplace with .
Responsibilities:- Capital Stack Optimization: Consult with clients on project and portfolio-level capital needs, with a primary focus on structuring capital stacks that integrating a wide variety of sources, including: private equity, taxable debt, tax-exempt debt, subordinate "soft" debt, and grant programs. Experience structuring Low-Income Housing Tax Credits (LIHTC) is not required.
- Strategic Underwriting: Lead the due diligence for apartment and mixed-use investments. Evaluate assets through the lens of Area Median Income (AMI) restrictions, real estate market fundamentals, and state/local tax abatements (e.g., PILOT agreements).
- Sophisticated Financial Modeling: Develop and maintain complex, multi-tiered financial models for development and preservation deals. Models must accurately simulate the blended cost of capital, waterfall distributions, and the impact of long-term affordability covenants on project exit values.
- Public-Private Partnership Liaison: Partner with private developers and public housing authorities (PHAs) or state agencies to validate operating proformas, ensuring compliance with both market-rate expectations and restricted-rent regulatory requirements.
- External Stakeholder Management: Coordinate with third-party partners to secure optimal financing, including tax-exempt bond issuers, conduit issuers, underwriters, HUD/FHA lenders, commercial banks, CDFIs.
- Contract & Documentation Oversight: Assist in the review and management of all relevant Project contracts and documents related to finance requirements. Review project level contracts with a specific eye toward regulatory agreements that ensure long-term financing viability.
- Investment Memoranda & Strategy: Author comprehensive investment memos that synthesize macroeconomic trends with the specific drivers of affordable housing.
- Proposal Development: Lead the creation of responses to RFPs/RFQs for solicited and unsolicited mixed-income development opportunities, showcasing the firm's ability to solve "funding gaps."
- Stakeholder Presentation: Regularly present technical modeling outputs and feasibility analyses to investment committees, non-profit boards, and government agencies.
Qualifications- Bachelor's degree in real estate, finance, economics, or business required - MBA/master of real estate preferred
- 5-7 years of relevant work experience in multifamily development or finance, including a demonstrated track record of closing (or assisting with the closing) of transactions.
- Strong understanding of real estate fundamentals including the ability to navigate operating pro formas, analyze market dynamics, and build financial models.
- Working knowledge of various capital structures and sources used to finance real estate projects, such as construction debt, private equity, tax-exempt financing, LIHTC, Fannie/Freddie programs, among others.
- Experience in a highly collaborative, team-based setting
- Demonstrated ability to work independently; taking initiative and meeting deadlines
- Excel skills including financial and real estate cash flow modeling, including knowledge of key financial and real estate concepts and metrics
- Proficient in Microsoft Word, Excel, and PowerPoint.
Clark offers a total compensation package that includes base salary, bonus potential, and a comprehensive benefits package including health/dental/vision benefits, paid time off, retirement/401k, and Company Contribution plan. Additional benefits include life insurance, commuter benefit, short & long term disability, fitness reimbursement, FSA, tuition reimbursement, back-up daycare, tutoring & family support benefits, EAP/Work-Life assistance, and a holiday contribution program. For this role the base salary range is $120,000 - $140,000. Compensation may vary outside of this range depending on a number of factors, including a candidate's education, experience, skills, and geographic location. Base pay is one part of the Total Compensation Package that is provided to compensate and recognize employees for their work. https://www.clarkconstruction.com/careers/clark-experience
