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National Church Residences · 5 days ago

Affordable Housing Transaction Manager

Columbus, OH

Full-time

Onsite

Senior Level, Lead/Staff

10+ years exp

National Church Residences is an organization focused on affordable housing initiatives, and they are seeking a Transaction Manager for their Corporate Asset Management division. The role involves assessing strategies, identifying financing sources, and negotiating transactions related to Affordable Housing assets, including property sales and financing activities.

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Responsibilities

Establish policy and procedures regarding the coordination of activities related to various transactions across the Affordable Housing portfolio, including property sales, acquisition of Limited Partner interests in LIHTC partnerships, and financing/ refinancing of mortgage loans, debt modifications and/or forgiveness

In collaboration with the assigned asset manager, negotiate “LP exit” terms with the syndicator and Limited Partner

Conduct asset and partnership valuations and review Partnership Agreement terms governing LP exits

After negotiating LP interest acquisition terms, work with legal counsel to draft and finalize partnership agreement amendments effectuating the transaction

Coordinate all activities necessary to request and obtain all required approvals for the acquisition of the LP interest, including internal approvals, and state agency, HUD and/or lender approvals

Maintain and regularly update pipeline reports to track LP exit activities

Communicate all final terms to internal stakeholders and save all final documents to the document management system

Identify and evaluate refinancing opportunities (maturing loans, etc.) for Year 15 properties and HUD properties

In collaboration with the VPs of Asset Management and Development Finance, evaluate potential lenders and debt products that may align with the financing needs within the Affordable Housing portfolio

Evaluate loan terms and underwriting criteria for prospective financing opportunities

Coordinate all required due diligence including third party reports

Obtain all required internal and external approvals

In partnership with internal legal counsel, oversee all closing activity, including hiring of outside counsel and review of loan documents and settlement statements

Maintain and update monthly pipeline reports documenting all activity related to financing activities

Communicate all financing terms to internal stakeholders and save all final documents to the document management system

Across the housing portfolio, partner with housing accounting and asset management to identify subordinate loans eligible for extension, forgiveness or modification. Develop system(s) to track same

Work with financing partners to negotiate and document extensions, forgiveness and modifications

Collaborate with internal and external stakeholders to identify and resolve tax related matters and secure required consents

In alignment with applicable Board guidance, assist in the evaluation of the portfolio for potential sales

Assist in the selection of brokers and/or potential purchasers

Negotiate key terms of Purchase and Sale Agreements in partnership with legal counsel

In collaboration with the assigned asset manager, provide all required due diligence to brokers and prospective buyers

Manage all aspects of property sale closings and ensure smooth off-boarding processes

Communicate all final transaction information to internal stakeholders and save all final documents to the document management system

Work with the VP of Asset Management to identify high priority transactions and lead execution of the same in partnership with the assigned asset manager

Establish tracking systems to monitor loan modifications, extensions and forgiveness

Qualification

Affordable housing expertiseFinancial modelingAnalytical skillsMicrosoft OfficeReal estate asset managementHUD program knowledgeCommunication skillsOrganizational skillsEmotional intelligenceNegotiation skills