Director of Acquisitions

Harmony Housing Affordable Development Inc. (“HHAD”) is among the largest real estate developers of affordable rental housing in the United States. Our mission is to positively impact communities by creating and preserving quality affordable housing for low wealth households. HHAD is a wholly owned subsidiary of Harmony Housing, a 501c3 not-for-profit owner and operator of affordable housing.

Our fast-growing organization is currently seeking an experienced Director of Acquisitions to join the expanding Business Development team. This individual will play a pivotal role in identifying, securing, and developing new affordable housing projects within target markets, while also leading business development efforts to expand the company’s portfolio. The ideal candidate will have strong knowledge of affordable housing finance, development processes, and a proven track record of forging new business relationships within the real estate development and housing sectors. This role is ideal for a proactive, entrepreneurial-minded individual who is passionate about making a positive impact through affordable housing development. This position works in close coordination with HHAD’s Execution and Executive teams, , reporting to the Executive Vice President.

The Director of Acquisitions will be responsible for building and maintaining a pipeline of feasible affordable housing development opportunities that align with HHAD’s strategic plan. The Director of Acquisitions will lead the sourcing, underwriting, and initial execution of affordable housing development opportunities, with a primary focus on projects utilizing 4% and 9% Low-Income Housing Tax Credits (LIHTC). This role is responsible for originating both acquisition-rehabilitation and ground-up development deals, advancing them through site control, and transitioning approved projects to the development execution team.

The Director of Acquisitions will manage all aspects of originating opportunities, preparing initial business plans, financial feasibility analyses, from generating leads to signing up new opportunities, while ensuring compliance with affordable housing regulations. This role requires a deep understanding of the affordable housing sector, strong sales and negotiation skills, and the ability to liaise with various stakeholders including potential clients, buyers and sellers, investors and government agencies. This position requires a great deal of autonomy and accountability, along with strong experience in critical thinking and problem solving, negotiating, networking, and teamwork.

Primary Duties and Responsibilities:

• Deal Origination & Pipeline Development:
• Source new affordable housing development opportunities, including acquisition-rehabilitation and new construction projects within a defined set of target states, including, but not limited to: Florida, Georgia, Texas, Indiana, and Ohio.
• Conduct in-depth market analysis to identify areas of growth and target opportunities for affordable housing development.
• Identify and evaluate potential development sites through direct outreach to owners, broker relationships, and market research.
• Cultivate and maintain strategic relationships with key stakeholders including owners, nonprofit organizations, real estate brokers, government agencies, lenders, and investors to source new development opportunities.
• Lead efforts to evaluate RFP / RFQ opportunities and prepare comprehensive, detailed responses; attend and participate in interviews for RFP / RFQ opportunities.
• Maintain and update HHAD’s Origination Pipeline report, and regularly present to leadership.
• Financial Analysis & Feasibility:
• Prepare initial financial models to evaluate project feasibility and ensure that investment decisions are well-informed and based on accurate underwriting.
• Identify the specific financial resources required for project feasibility, such as 4% and/or 9% LIHTC equity, state LIHTC equity, tax-exempt bonds, soft loans, etc., and confirm funding availability and project eligibility.
• Conduct preliminary feasibility studies, including financial analysis, site analysis, review of zoning regulations, and community impact.
• Work with internal teams to develop initial project concepts, design proposals, milestone schedules, and cost estimates.
• Transaction Management:
• Prepare, negotiate, and facilitate the execution of Purchase & Sale Agreements, Development Agreements, and/or Joint Venture Agreements to establish control of opportunities under terms that provide high financial returns and mitigate potential risks.
• Manage relationships with transaction participants from initial contact through closing.
• Marketing:
• Develop and implement comprehensive business development strategies to meet or exceed new business targets for affordable housing; collaborate with marketing teams to create promotional materials and online campaigns to attract development opportunities.
• Represent HHAD at industry events, conferences, and networking functions to build brand recognition and establish strategic partnerships.
• Community Engagement:
• Build and maintain positive relationships with local communities, advocacy groups, and other stakeholders to ensure support for new developments.
• Participate in public meetings, hearings, and community outreach efforts to ensure that developments meet local needs and gain community acceptance.
• Collaborate with officials and government agencies to develop recommended policies that support the development of and provide resources for affordable housing.
• Team Collaboration & Reporting:
• Work closely with internal departments, including finance, legal, and development to ensure the smooth and timely execution of projects.
• Provide regular updates to senior management on business development activities, pipeline status, and project progress.
• Develop presentation materials needed for senior team members and the Investment Committee, as well as external meetings (clients, government agencies, lenders, investors, etc.).
• Support acquisition, disposition, and development teams in evaluating risks during due diligence for new properties.
• Other:
• Identify and implement process improvements to enhance the efficiency and effectiveness of Business Development functions and obligations
• Maintain current working knowledge of industry trends, best practices, as well as state and federal regulations regarding affordable housing finance and programs.
• Ensure individual and departmental revenue goals and objectives are achieved.
• Ability to travel as needed for site visits, meetings with stakeholders, industry-related conferences, and various networking opportunities; valid Driver’s License required to be always maintained.

Experience, Skills, and Abilities Required:

• Bachelor’s degree in business, real estate, finance, urban planning, or a related field; a Master’s degree is a plus.
• Minimum of 5–7 years of progressive professional experience in affordable housing development, real estate investment, or a related field, with a demonstrated successful track record in new business origination and project financing of affordable housing.
• Established relationships with developers, owners, management agents, and brokers throughout the designated region.
• Strong financial and analytical skills, with in-depth understanding of real estate fundamentals.
• Experience reviewing relative property documents (operating statements, rent rolls, audits, loan documents, etc.); ability to process information including gathering, assessing, organizing, auditing, and verifying data.
• Strong knowledge of affordable housing mechanisms (e.g., programs such as LIHTC and tax-exempt bond financing, FHA mortgage insurance programs, as well as Agency debt products (Fannie, Freddie, USDA), and familiarity with other affordable housing funding programs and compliance regulations.
• Proven ability to lead complex projects from inception through completion.
• Demonstrated excellent analytical, problem-solving, and decision-making skills with varying amounts of available information.
• Ability to recognize and mitigate investment risks; strong negotiation skills.
• High-energy, accurate, organized, highly detailed, and results-oriented professional with demonstrable ability to successfully manage multiple projects and successfully work under pressure of strict deadlines.
• Excellent written, oral, and public speaking communication skills with an ability to clearly and concisely express ideas, thoughts, and concepts verbally and in writing to diverse teams.
• Advanced computer skills (Microsoft Office Suite, Adobe, SharePoint, and SmartSheet and other similar programs).
• Exceptional customer service and interpersonal skills, with the ability to build and maintain relationships with internal and external stakeholders.
• Ability to manage daily responsibilities and projects with minimal direction, while also working in close collaboration with a team to provide solutions where needed.
• Ability to maintain a “big picture” focus while attending to incredibly detailed work and providing thorough documentation.
• Resourceful, flexible and maintain the ability to react and respond quickly towards positive outcomes.
• Strong personal standards and values consistent with HHAD’s core values (entrepreneurial, integrity, caring, and excellence).

A satisfactory background check will be required as part of the selection process.
 
At Harmony Housing Affordable Development (HHAD), we believe that finding creative solutions for our clients comes from the collaboration of people with diverse backgrounds and perspectives. We strive to build a work environment that empowers all individuals with opportunities to channel their entrepreneurial spirit. HHAD is an EEO employer.
 
This job description is not inclusive of all responsibilities, skills, requirements, efforts or working conditions associated with this position. While this job description is intended to be an accurate reflection of the current position, management reserves the right to modify the position or to require that other or different tasks be performed when circumstances change. This job description replaces all previous descriptions for this position.

RECRUITMENT SPAM:

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