Career Opportunities


Asset Manager

An Asset Manager is responsible for ensuring investors receive anticipated benefits associated with an assigned portfolio of multifamily real estate partnerships by proactively monitoring the investments’ operational performance, compliance with Section 42 of the IRC, and regulations of other applicable housing programs, funding sources, and laws. An Asset Manager identifies performance concerns and works to resolve them, to maximize return on investments, prevent losses, and promote positive relations with investors and owner/managing partners. Timely communication of concerns and potential solutions to all stakeholders is essential in order to address portfolio matters as soon as possible. Successful portfolio management is accomplished by evaluating reports, inputting accurate and timely data, preparing and interpreting historical and trend analyses, and performing regulatory and physical site assessments.

Some specific functions include, but are not limited to, the following:

  • Identify operational or regulatory issues and work to resolve them in order to maximize return on investments, prevent losses, and promote positive relations with investors, owners, and managing associates.
  • Evaluate reports, maintain accurate and timely data, prepare and interpret historical trends, perform site inspections, and consult with all stakeholders.
  • Maintain frequent verbal and written communication with developers, property management agents, state agency representatives, and other associates during the construction and management of the properties.
  • Participate in investment review meetings and provide technical assistance and support to the Acquisitions, Fund Management, and Risk Management departments.

Education Requirement
Bachelor’s degree in business management, business administration, accounting, finance, real estate. Or, an equivalent combination of education and comparable work experience.

Work Experience
Minimum of three (3) years of relevant multi-family residential real estate experience with a focus on the review and interpretation of property financial statements. Experience performing physical site inspections is preferred.

Other Requirements
Intermediate Excel and Word skills. Excellent analytical skills. Excellent verbal and written communication skills, coupled with the ability to maintain productive working relationships with all stakeholders. General knowledge of accounting, financing processes, and residential, multi-family property management best practices. Ability to collaborate in a team environment.

Work Environment
This position is based out of CAHEC’s corporate office in Raleigh, NC. Travel, typically by either commercial airline or automobile, is required for at least 25% of this position. Certain objectives require working on-site at various locations, such as properties in CAHEC’s investment portfolio, and some professional training opportunities may also require travel.

The position is classified as an exempt position.

Closing Coordinator

Community Affordable Housing Equity Corporation (CAHEC) is currently seeking candidates for a Closing Coordinator. The Closing Coordinator works closely with other members of Acquisitions & Risk Management and external partners to manage the flow of transaction documentation and to usher the closing process for proposed lower tier investments by CAHEC affiliated equity funds. This position oversees the collection and recording of due diligence, maintains and reports on closing schedules, assists in the packaging of due diligence for external reviews and approvals, maintains versioning control for closing agreements including the assembling and distributing of final agreements, and provides administrative support related to record management. The employment classification for this position is non-exempt.

Some specific functions include:

  • Manage file sharing platform for internal and external partners to provide and share closing due diligence.
  • Accurately record and catalogue due diligence for real estate and partnership closings.
  • Maintain closing checklists and due diligence files for closings.
  • Provide timely and accurate updates to closing team on the status of closing due diligence.
  • Assist internal team in the engagement of third-party vendors to review due diligence packages and provide background checks.
  • Track and maintain records, including minutes, for internal closing approvals.
  • Maintain version control for draft closing documents and circulate final agreements for execution.
  • Ensure documents and files are maintained in accordance with CAHEC’s document retention policies.

Education Requirement
An Associate Degree of Applied Science or Business Administration, or related field; or five years of comparable work experience. A Paralegal Certificate is preferred.

Work Experience
Minimum two years progressively responsible work experience in the administrative management of complex real estate transactions, mortgage loan closings, or investment partnership closings.

Knowledge, Skills, and Abilities
A proven ability to manage multiple, concurrent priorities with constantly changing priorities is required along excellent interpersonal and communication skills to coordinate closing schedules and obtain needed due diligence items. Demonstrated advanced proficiency with ShareFile or similar web-browser-based cloud storage application is required. Demonstrated proficiency with MS Word and Excel required.

Work Environment
This position is based out of CAHEC’s corporate office in Raleigh, NC. Certain objectives require working on-site at various locations, such as industry conferences and events at properties in CAHEC’s investment portfolio, and some professional training opportunities may require travel.

Compensation and Benefits: CAHEC is an equal-opportunity employer that offers a competitive compensation and benefits package.

Compliance Manager

The Compliance Manager is a member of CAHEC’s Transitional Asset Management Team, providing regulatory oversight for a portfolio of investments from transaction closing through stabilization. This position reviews proposed deal structures contemplated during the acquisition phase as they relate to various program requirements, manages the initial tenant file audit process, monitors and reports lease-up progress, tracks the delivery of tax credits, and calculates credit adjusters. After investment stabilization, the Compliance Manager provides regulatory guidance and acts as a subject matter expert to both internal and external customers regarding LIHTC provisions as well as other applicable multi-family, affordable housing programs.

Some specific functions include:

  • Review the marketing strategy and lease-up objectives for each investment to ensure they are realistic and achievable.
  • Create and provide strategies to expedite the tenant qualification process and tax credit delivery for CAHEC’s proposed investments.
  • Review weekly lease-up progress with management agents and monitor the achievement of full qualified occupancy.
  • Calculate initial year tax credit delivery as well as timing and delivery adjusters.
  • Oversee the initial tenant file qualification process, including the selection and management of third-party contractors responsible for conducting initial tenant file reviews on CAHEC’s behalf.
  • Serve as CAHEC’s compliance subject-matter expert by providing ongoing regulatory support and coaching.

Education Requirement
Bachelor’s degree in business management, business administration, accounting, finance, real estate; or an equivalent combination of education and comparable work experience. Licenses/Certifications:  At least one industry accredited LIHTC compliance certification.

Work Experience
Minimum five (5) years of progressively responsible work experience relevant to LIHTC compliance practices and procedures, and marketing and lease up of multifamily assets.

Knowledge, Skills, and Abilities
Comprehensive knowledge of the LIHTC program and other applicable housing programs such as HOME, RD 515 and HUD. Comprehensive knowledge of the tax credit delivery process, including 8609s and equity adjustment calculations.

Work Environment
This position is based out of CAHEC’s corporate office in Raleigh, NC. Travel, typically by either commercial airline or automobile, is required for at least 10% of this position. Certain objectives require working on-site at various locations, such as properties in CAHEC’s investment portfolio, and some professional training opportunities may also require travel.

Compensation and Benefits
CAHEC is an equal-opportunity employer that offers a competitive compensation and benefits package.

 

Manager, Transitional Asset Management – LIHTC

The Manager, Transitional Asset Management leads CAHEC’s Transitional Asset Management team which provides development period oversight for a portfolio of investments from closing through stabilization. This position coordinates and assigns specific tasks to the Transitional Asset Management team members responsible for construction management, tax credit compliance, equity funding, and development-period asset management. This position is also responsible for direct asset management oversight of a portfolio of development-period investments.

Some specific functions include:

  • Manage and coordinate the day-to-day operations of the Transitional Asset Management team. Oversee and evaluate the performance of assigned staff, promote staff development, and support maximum productivity of the department through on-going coaching, mentoring, and constructive performance feedback.
  • Monitor the delivery of expected tax credits during the development period. Report and mitigate any issues that may prohibit, delay, or jeopardize delivery of projected tax credits, or hinder the ability of the property to achieve or sustain financial integrity.
  • Review draft and final cost certifications to ensure adequate documentation of eligible and qualified basis.
  • Review equity and loan funding requests, and prepare equity adjustment calculations as necessary.
  • Determine the achievement of break-even operations, ensure timely conversion to permanent financing, and calculate net income/(loss) projections.

Education Requirement
Bachelor’s degree in real estate, finance, business, city planning, or economics; or an equivalent combination of education and comparable work experience.

Work Experience
Minimum five (5) years progressively responsible work experience relevant to affordable housing tax credit development, underwriting, investment modeling, finance, and/or asset management.
Minimum two (2) years progressively responsible work experience relevant to the management functions of supervising and coaching direct reports, operational planning, and budgeting.

Knowledge, Skills, and Abilities
Comprehensive knowledge of commercial real estate development, construction, corporate and partnership legal and taxation issues, financial management principles, and property management principles and practices, including specific requirements for low-income housing tax credits.
Comprehensive knowledge of the tax credit delivery process, including cost certifications, 8609s, and equity adjustment calculations.
Proven ability to supervise multiple direct reports including training, coaching, and performance management.

Work Environment
This position is based out of CAHEC’s corporate office in Raleigh, NC. Travel, typically by either commercial airline or automobile, is required for at least 30% of this position. Certain objectives require working on-site at various locations, such as properties in CAHEC’s investment portfolio, and some professional training opportunities may also require travel.

Compensation and Benefits: CAHEC is an equal-opportunity employer that offers a competitive compensation and benefits package.

Special Assets Manager – LIHTC

The Special Assets Manager analyzes, structures, negotiates and closes complex tax credit transactions, including investor exits, asset dispositions, debt refinancing, and workouts. This position is primarily responsible for overseeing the exit of CAHEC’s upper tier investors from the lower tier partnerships by (i) evaluating investor exit alternatives, (ii) negotiating transaction terms with investment general partners, (iii) working with CAHEC’s attorneys to document and close the transaction, and (iv) assisting CAHEC’s Fund Management Department in winding down the upper tier fund entities. The Special Assets Manager also manages troubled assets, with the goal of minimizing investment risk and maximizing performance.

Some specific functions include:

  • Analyze, negotiate and close investor exits, and property dispositions at the end of the tax credit compliance period or earlier, as appropriate.
  • Evaluate refinancing proposals submitted by investment general partners, and propose refinancing opportunities to partners where appropriate.
  • Develop and implement workout plans for assets that pose immediate and/or costly risks to CAHEC and its investors.
  • Report on troubled asset performance at quarterly investment performance meetings.

Education Requirement
Bachelor’s degree in real estate, finance, business, city planning, or economics.

Work Experience
Minimum five (5) years progressively responsible work experience relevant to multi-family real estate, including affordable housing tax credit development, underwriting, investment modeling, finance and/or asset management.

Knowledge, Skills, and Abilities
Comprehensive knowledge of the LIHTC program, partnership agreement terms, and IRS Section 42 requirements regarding capital transactions such as investor exits, property sales, and refinances.
Proven ability to generate financial models, forecasts, and investor benefit schedules.

Work Environment
This position is based out of CAHEC’s corporate office in Raleigh, NC. Travel, typically by either commercial airline or automobile, is required for at least 20% of this position. Certain objectives require working on-site at various locations, such as properties in CAHEC’s investment portfolio, and some professional training opportunities may also require travel.

Compensation and Benefits: CAHEC is an equal-opportunity employer that offers a competitive compensation and benefits package.