The Senior Director will report to the Head of Impact Investing and will take a leadership role in evaluating and executing on affordable housing (emphasis on LIHTC, PBS8, and self-restricted workforce deals) real estate acquisitions focused on numerous geographies across the U.S.  A position requirement is that applicants have deep and numerous relationships within the U.S. affordable housing industry and can further develop, expand, and maintain external relationships with key market participants, investment sales, owners, housing authorities, nonprofits, and lenders.  This role is pivotal to leading and achieving annual affordable housing investment gross volume exceeding $1 billion.  The affordable acquisitions will primarily be on a direct basis, but some clients will utilize joint ventures to access specific deals and markets.  Experienced in mentoring and growing junior team members.

Key Responsibilities:

Independently sources, underwrites, bids, negotiates, and closes affordable housing preservation real estate investments which fit the business plans of affiliated and third-party clients across numerous U.S. markets.  Approximately 75% of the transactions will be Capital A affordable investments including expiring LIHTC and PBS8 opportunities.Ability to source, underwrite, and close both portfolio and individual affordable opportunities.  Experienced in both fee-simple and ownership-interest purchases.Actively lead, develop, and mentor junior team members.  Manage several junior team members and create measurable annual professional goals for direct reports.Evaluates affordable investments and investment returns based on discounted cash flows, return on cost, development spreads and third-party leverage; analysis also to include impact of value-added opportunities, leverage, tax, and joint venture structures.Form and/or strengthen internal relationships with asset management counterparts to successfully transition new affordable acquisitions and help position assets for sale.Develop, expand, and maintain external relationships with key market participants, including the affordable brokerage community, owners, and lenders.Ability to lead internal disciplines and develop strong relationships with these business partners.Ability and willingness to advocate a reasoned point of view and engage in an honest and fact-based debate with senior leadership in a public forum when appropriate.Maintains complete and current knowledge of client’s investment strategies and works with Head of Impact Investing in the execution of investment strategy.Prepares and oversees all investment authorizations and assures that all financial, market and risk analysis is correct and accurate.Understands and keeps abreast of market dynamics and trends and seeks the input of research and other professionals in all analytic activities.Monitors and analyzes economic, legal, political and market conditions within assigned areas.Oversees (or undertakes directly) the coordination and compliance with all requirements for closing and funding of transactions.Identifies appropriate financing strategies; evaluates financing proposals.

Qualifications:

Required:

BA or BS required.Minimum of 10 years of real estate transaction related experience, including soliciting, analyzing, negotiating, financing, and acquiring Capital A affordable housing.Has a deep knowledge of the LIHTC and PBS8 programs and has a proven and successful track record of overseeing affordable housing transactions across multiple U.S. markets.Possesses strong knowledge of commercial real estate, economics, finance, valuation, and private equity, financing, accounting, and legal structures.Position requires advanced analytical/reasoning skills to analyze disparate information flows based on market specific practice into a meaningful, relative-value basis. Requires advanced reasoning skills to effectively and timely identify viable investment opportunities which meet the long and short-term goals of multiple affordable clients.Experienced and proficient in Excel.Demonstrated ability to operate independently in sourcing, underwriting, and negotiating affordable transactions. Strong written and verbal presentation skills that are directed to internal and external clients. Experienced in affordable dispositions.Strong networking skills including but not limited to; Working closely with the affordable brokerage community, direct sellers of real estate and joint venture partners to identify investment opportunities.Experience making investment recommendations to senior investment professionals and/or investment committees and clients; strengthens existing relationships. Demonstrated consistently solid judgment regarding deals, people, and situations.

Related Skills

Business Development, Due Diligence, Financial Analysis, Market/Industry Dynamics, Opportunity Strategy, Organizational Savviness, Real Estate Investments, Underwriting

Anticipated Posting End Date:

2025-02-27

Base Pay Range: $146,300/yr. - $225,000/yr.

Actual base salary may vary based upon, but not limited to, relevant experience, time in role, base salary of internal peers, prior performance, business sector, and geographic location.  In addition to base salary, the competitive compensation package may include, depending on the role, participation in an incentive program linked to performance (for example, annual discretionary incentive programs, non-annual sales incentive plans, or other non-annual incentive plans). 

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Company Overview

Nuveen, the investment manager of TIAA, offers a comprehensive range of outcome-focused investment solutions designed to secure the long-term financial goals of institutional and individual investors. Its affiliates offer deep expertise across a comprehensive range of traditional and alternative investments through a wide array of vehicles and customized strategies. For more information about the firm please visit our website at www.Nuveen.com

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The organization is committed to making financial well-being possible for its clients, and is equally committed to the well-being of our associates. That’s why we offer a comprehensive Total Rewards package designed to make a positive difference in the lives of our associates and their loved ones. Our benefits include a superior retirement program and highly competitive health, wellness and work life offerings that can help you achieve and maintain your best possible physical, emotional and financial well-being. To learn more about your benefits, please review our Benefits Summary.

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