New Jersey Community Capital is a nonprofit community development financial institution (CDFI) that provides an innovative toolkit of financial products, programs, and services to advance equity and opportunity in the communities we serve. Read about us: About Us | New Jersey Community Capital Success Stories Archive | New Jersey Community Capital In 2010, CAPC became the wholly owned real estate subsidiary of New Jersey Community Capital, New Jersey's leading community development financial institution. Although a non-profit, CAPC has developed into a fully vertical real estate development company that typically competes with larger for-profit developers. The firm has an expertise in affordable housing and targets its work in key neighborhoods that will stabilize & revitalize communities. With construction management and an in-house brokerage, CAPC can bring additional expertise to create impact through our work. CAPC is active in single-family, multi-family, and commercial spaces and maintains an active portfolio in New Jersey, New York State, and Florida. In the past three years, CAPC has acquired more than 580 units with total development costs exceeding $70 million while at the same time, selling more than 520 units with a total sale value of over $120 million. Per its recently implemented strategic plan, CAPC is expanding its business to pursue co-investment opportunities with MWBE and emerging real estate sponsors. Position: Director, Real Estate Investments Location: New Brunswick, NJ (5 Days in office) Overview: Director of Investments & Operations will lead the sourcing, structuring, and execution of new investments for Community Asset Preservation Corporation (CAPC). These investments will include acquisitions of real estate (single family, multifamily, and commercial) for both existing assets as well as new development opportunities. These new investments will be GP and LP positions across any markets within the I-95 corridor. The structuring of these investments will require the Director to understand all aspects of the capital stack, have familiarity with various subsidy sources, and be able to lead a transaction from cradle to grave. The Director will be a direct report of the Managing Director of Real Estate and will be responsible for managing the senior CAPC staff. In addition, the Director will maintain strong relationships with key external stakeholders. Qualifications:
- Bachelor's degree required.
- 10+ years of experience in managing underwriting, acquisitions/dispositions and development.
- Must have experience in leading a seasoned team
- Experience negotiating legal documents
- Experience in urban real estate markets
- Experience working with government agencies as well as public agency financing & subsidies.
- Fluent in MS Office including PowerPoint, Excel and any other financial and analytical tools.
- Adept at creating financial models with strong presentation skills.
- Commitment to teamwork and is highly collaborative.
- Effective oral and written communications skills.
- Ability to multi-task and deliver
- Must be a proactive self-starter with a detailed can do roll up your sleeve's mentality.
- Must be resourceful and comfortable operating in the grey.
- Ability to maintain a high level of confidentiality.
- This position may require 15%-30% travel time.
Responsibilities: General Management:
- Work with the Managing Director, Real Estate to establish and maintain acquisitions strategy.
- Work with the Managing Director, Real Estate to select and maintain joint venture partners and vendors including but not limited to attorneys, appraisers, title companies.
- Develop and document policies and procedures.
Transactional work:
- Responsible for sourcing new opportunities for acquisitions
- Responsible for all aspects of the underwriting, presentation, and closing of acquisitions of single family residential, multifamily, and commercial properties
- Responsible for all aspects of the underwriting and closing of acquisitions of non- performing loans nationwide (work with Director of Operations/Homeownership)
- Support Managing Director of Real Estate in negotiating, structuring, underwriting, funding, and closing of all partnership opportunities including the preparation of letters of intent and partnership term sheets.
- Responsible for deal structure and capital stack development and implementation for acquisitions.
- Create, manage, and review financial models for underwriting property/loan cash flows, rents, and property operations to determine the viability for acquisition. Create, manage, and review financial models for underwriting funds.
- Pursue development opportunities in the public realm leading the response to RFPs and other solicitations for housing and/or mixed-use development services.
- Develops, maintains, and networks with new business relationships including municipalities, public agencies, lenders, investors, brokers, and other key stakeholders.
- Evaluates markets, works with consulting brokers, conducts site visits, maintains a thorough understanding of locations, potential strategies, and operational plans and requirements within each designated target market.
- Responsible for the preparation of memos used to evaluate investment opportunities and lead the delivery of presentations to the investment committee.
- Responsible for negotiation of legal documents including term sheets, letters of interest, purchase & sale agreements, and financing documents.
- Responsible for the creation of pitchbooks and any other presentation materials Work with Director of Financial Asset Management on the reporting, returns, liquidity and overall allocation of CAPC's portfolio.