Director, Acquisitions - Affordable Housing

TruAmerica Multifamily Director, Acquisitions - Affordable Housing Full Time · $175,000 - $200,000 · Sandy, UT A six-time Great Place to Work-Certified company, most recently in 2026. About TruAmerica Founded in July 2013, TruAmerica Multifamily is a partnership between industry veteran Robert E. Hart and The Guardian Life Insurance Company of America. The company is based on the premise that tremendous upside potential remains in mid-tier apartment communities that can be unlocked through tailored renovation, repositioning strategies, and focused management. TruAmerica Multifamily is a privately held, fully integrated real estate investment firm that invests in apartment communities located in primary and secondary markets throughout the country. We continue to grow by selectively acquiring, redeveloping, and effectively managing multifamily properties. TruAmerica has grown to become a Top 25 apartment owner in the United States, according to the National Multifamily Housing Council (NMHC), and is the youngest manager in the NMHC Top 50. Today, TruAmerica has over 60,000 units in 25 high-growth markets and approximately $16 billion of assets under management. Objective The Director, Affordable Housing Acquisitions leads the sourcing, underwriting, structuring, and closing of affordable multifamily investments for TruAmerica. The focus is existing LIHTC properties, 4% tax-exempt bond acquisition-rehabilitation deals, and naturally occurring affordable housing (NOAH). The Director works with brokers, nonprofit and GP partners, tax credit investors, lenders, housing agencies, and the Investment Committee to grow the affordable platform in line with TruAmerica's strategy. This position reports to the Executive Managing Director, Head of Acquisitions, with a dotted line to the Managing Director, Affordable Housing. Responsibilities Sourcing and Pipeline Source affordable acquisitions through brokers, off-market channels, owners exiting the compliance period, and developer, nonprofit, and housing authority relationships. Build and manage a pipeline of LIHTC resyndication, bond acquisition-rehabilitation, and NOAH opportunities nationwide. Track agency calendars, bond allocation rounds, and qualified allocation plan (QAP) changes in target states, and plan deals around application deadlines. Underwriting and Structuring Lead and review underwriting of affordable assets and manage analysts and associates in the process. Underwrite to regulatory constraints, including AMI rent and income limits, utility allowances, unit set-asides, remaining compliance and extended-use periods, and any HAP or Section 8 contracts. Model 4% LIHTC and tax-exempt bond structures, including eligible basis, credit pricing, sources and uses, and bond test sizing. Structure layered capital stacks: tax-exempt and taxable debt, agency and HUD loans, soft and seller financing, and tax credit equity. Size rehab scopes and capital plans with construction and asset management teams. Assess property tax exposure, including eligibility for welfare or similar exemptions and the nonprofit partner structure needed to obtain them. Work with the Head of Acquisitions and the CIO on valuation, offer pricing, and deal strategy. Partners, Agencies and Investors Manage relationships with tax credit syndicators and investors, bond counsel, underwriters, lenders, and JV equity partners. Select and negotiate with nonprofit GP and co-GP partners, including fees, roles, and ownership terms. Prepare and coordinate tax credit and bond allocation applications with state housing finance agencies and allocating bodies. Coordinate transfer and assumption approvals from agencies, HUD, and existing limited partners. Due Diligence and Closing Run due diligence, including physical, legal, title, environmental, and a review of regulatory agreements, LURAs, and compliance history. Coordinate investor and lender closing requirements, including tenant income certification and file audits. Manage legal counsel, consultants, and third-party reports such as market studies, capital needs assessments, and appraisals. Hand off closed deals to asset management with clear compliance, reporting, and business plan requirements. Investment Committee Prepare and present investment memos to the Investment Committee. Explain affordable-specific risks and returns clearly, including compliance exposure, regulatory exit timing, developer fee, and tax credit economics. Make sure each deal meets IC approval criteria and partner requirements. Qualifications Required Bachelor's degree in real estate, business, finance, economics, or a related field. 7+ years in real estate acquisitions, investment banking, or private equity, including at least 4 years closing affordable multifamily transactions. Hands-on experience with 4% LIHTC and tax-exempt bond financing; experience with 9% credits, resyndications, or HUD programs is a plus. Working knowledge of Section 42, regulatory agreements, compliance periods, and state agency processes. Advanced Excel modeling and valuation skills, including IRR, equity multiples, cap rates, waterfalls, credit pricing, and basis calculations. Strong negotiation and relationship skills with brokers, syndicators, lenders, nonprofit partners, and public agencies. Ability to manage several complex closings at once, with deadlines tied to allocation rounds. Clear writing and presentation skills, including PowerPoint and Word for IC materials. Preferred Existing relationships in Utah and the Mountain West with brokers, owners, Utah Housing Corporation, and local housing authorities. Experience with California CTCAC/CDLAC and other high-volume bond states. Experience with nonprofit GP structures and property tax exemptions. Background in NOAH acquisitions, preservation, or value-add affordable business plans. MBA, MRED, or similar graduate degree. Physical Demands The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of the position. Ability to sit for up to 10 hours per day. Ability to move freely around the office for up to 10 hours per day. Ability to communicate verbally and in writing. Regular travel for property tours, partner meetings, and agency hearings. Compensation The base salary range for this role is $175,000 to $200,000. This position is also eligible for a discretionary bonus. Applications are accepted on an ongoing basis until the position is filled. Why You'll Love Working at TruAmerica TruAmerica Multifamily is a six-time Great Place to Work-Certified company, most recently in 2026, and we invest in our colleagues the same way we invest in our communities. Eligible colleagues receive a comprehensive benefits package, including: Medical, dental, and vision: TruAmerica covers 100% of the employee premium for base medical plans, and dental, vision, life insurance, long-term disability, and AD&D are 100% employer-paid. TruAmerica also contributes toward the cost of dependent coverage. 401(k) retirement plan with a company match. Vacation, sick, and holidays: a vacation allowance that grows with tenure (up to 21 days), generous paid sick leave, and 10+ paid holidays, plus your birthday, cultural and ethnic observance days, and company-sponsored volunteer days. Pre-tax savings: Health and Dependent Care Flexible Spending Accounts (FSA/DCA). Plan flexibility: choice of a national Blue Cross Blue Shield PPO or HMO, plus regional plan options where available. Benefits described are representative of those offered to eligible full-time colleagues and may vary by position, location, and eligibility. This summary is general and does not create a contract or guarantee of any particular benefit. Equal Opportunity Employer TruAmerica Multifamily is an equal opportunity employer that is committed to diversity and inclusion in the workplace. We prohibit discrimination and harassment of any kind based on race, color, sex, religion, sexual orientation, gender identity, national origin, age, disability, genetic information, pregnancy, veteran status, or any other characteristic protected by federal, state, or local laws. This policy applies to all employment practices within our organization, including hiring, recruiting, promotion, termination, layoff, recall, leave of absence, compensation, benefits, training, and internships. TruAmerica Multifamily makes hiring decisions based solely on qualifications, merit, and business needs at the time. ADA / Reasonable Accommodation Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of the position. Work Authorization Applicants must be legally authorized to work in the United States. TruAmerica participates in employment eligibility verification as required by law. Conditional Offer / Background Check Any offer of employment is contingent upon the satisfactory completion of a background check and reference verification. Consistent with applicable Fair Chance and Ban-the-Box laws, TruAmerica will consider qualified applicants with criminal histories in a manner consistent with the law and will conduct an individualized assessment before withdrawing any conditional offer. At-Will Employment This job description is not a contract of employment and does not alter the at-will nature of employment with TruAmerica Multifamily. Employment may be terminated by either the employee or the company at any time, with or without cause or notice, to the extent permitted by law. TruAmerica reserves the right to modify the duties and responsibilities of this position at any time. Applicant Privacy Notice TruAmerica Multifamily collects personal information from applicants solely for recruitment and hiring purposes, in accordance with applicable data privacy laws. Categories of information collected may include identifiers (such as name and contact information), professional or employment-related information (such as resume, work history, and references), and education information. This information is used to evaluate your candidacy, communicate with you regarding the application process, and comply with applicable legal obligations. TruAmerica does not sell applicant personal information. Information is retained only as long as necessary for these purposes or as otherwise required by law. No Recruiters / No Agencies TruAmerica Multifamily has an internal Talent Acquisition team that manages all recruiting for our open positions. We are not accepting unsolicited assistance from search firms, staffing agencies, or third-party recruiters for this role. Please do not forward resumes, candidate profiles, or contact information to our employees, hiring managers, or any TruAmerica email address or office location. TruAmerica will not be responsible for any fees related to unsolicited resumes, and any such submissions will be considered the property of TruAmerica with no obligation to pay a placement or referral fee. Agencies wishing to be considered as a future search partner must be engaged directly and in writing by TruAmerica's Talent Acquisition team prior to submitting any candidates.