Senior Project Manager, Acquisitions & Preservation – Boston, MA
Who are we?
The Community Builders, Inc. (TCB) is an entrepreneurial real estate developer and owner. Our mission is to build and sustain strong communities where all people can thrive. We envision a world with vibrant, safe and inclusive neighborhoods where all people live in healthy homes with equitable access to resources and opportunities to pursue their dreams, and we work to make that vision a reality. Founded in 1964, TCB currently owns/manages 14,000+ units of rental housing across the Northeast, Mid-Atlantic, and Midwest.
Why work at TCB?
Opportunity is not equally available across households and regions. America has enormous racial and economic segregation because of government backed policies such as redlining, unequal access to nonpredatory homeownership loans, racial covenants and exclusionary zoning. As a result, quality housing in good neighborhoods with reasonable access to jobs is out of reach for many Americans. At the same time, many communities lack the necessary investments in housing, amenities, services and commercial development to provide a good quality of life. Over the next five years TCB aims to make vital contributions that address this fundamental opportunity gap, by adding to the stock of affordable quality homes and helping to provide services and amenities in thriving communities for all people.
The Senior Project Manager, Acquisitions & Preservation role at TCB
Are you a creative problem solver with a focus on positive outcomes? Do you enjoy working on tangible projects that make a financial and physical difference to the communities where we work? Do you bring a drive for results and a real desire to make a difference?
The Acquisitions & Preservation team within the Real Estate Finance Department at TCB works closely with the Development team, Asset Management team, and other departments to build and sustain high-quality residential and mixed-use developments. Core functions of this role include providing financial analysis of new acquisition opportunities and properties in the TCB portfolio to inform repositioning strategies, and working with inter-departmental teams to craft and implement capital transactions. The open Acquisitions & Preservation Senior Project Manager role will focus in two areas:
- Acquisitions: One way that TCB pursues our mission is by acquiring existing properties and adding or preserving affordability. We seek a team member to be responsible for driving this growing part of our business, in cooperation with Development colleagues across TCB’s footprint.
- Portfolio Preservation: TCB has a portfolio of 14,000 properties that include an array of financing and legal structures. The Senior Project Manager will lead a team of staff from multiple departments across TCB to identify and implement financial repositioning and physical rehab strategies to maintain and enhance these assets.
Core functions will include:
- Serve as an essential team member, in partnership with the Development department, in implementing and honing TCB’s acquisition strategy
- Participate in acquisition prospect identification, including property data and market analysis
- Analyze acquisition opportunities ranging from single building to complex portfolios, including financial modeling, review of property financials, and review of legal and regulatory documents
- Generate offers to purchase
- Lead in obtaining debt and equity financing
- Lead an inter-departmental team to complete necessary due diligence
- Negotiate deal terms and documents and drive acquisition closings with support from Legal team
- Cultivate and maintain relationships with real estate brokers
- Collaborate with Asset Management to develop and implement capital plans and strategic repositioning opportunities for TCB’s portfolio
- Evaluate opportunities for financial repositioning to achieve preservation goals such as cash delivery, reserve capitalization, or rehabilitation
- Develop strategies for long-term portfolio preservation, working closely with Asset Management
- Lead implementation of financial repositioning efforts such as refinance closings and project management of associated rehab scope
- Identify and financially structure resyndication opportunities from within the portfolio for hand off to Development colleagues
- Develop relationships with local and state-level funding agencies from across the regions in which TCB works
What’s in it for you – professional development
- You will be involved in varied developments from TCB’s pipeline and portfolio, with exposure to diverse communities, geographies, and financial and legal structures. Learning and growth opportunities abound for all of us.
- You will have the opportunity to identify challenges and creatively problem solve to produce meaningful improvements throughout TCB’s portfolio.
- You will work with a team of bright and dedicated individuals, whose creativity and persistence and get it done attitude make for an enriching work environment.
- TCB is part of a network of America’s leading national nonprofit developers and owners, so we learn not just from our own experience, but from our peers as well. We are involved in advocacy at the federal, state, and local levels, using our experience to help shape public policy.
Here’s what we’re looking for
- A passion for real estate development
- A passion for helping to build strong communities for all people
- Strong analytical and financial modeling skills
- Ability to lead internal and external project teams, driving toward defined outcomes while building rapport with colleagues and upholding the highest TCB standard
- Strong communication skills, both verbal and written
- Demonstrated track record of managing a varied workload and successfully leading multiple projects simultaneously
- Bachelor’s degree and/or Master’s degree and minimum 5-7 years of experience in the real estate industry
- Prior experience with Low Income Housing Tax Credits and affordable/mixed-income deal structures required
- Familiarity with or willingness to use artificial intelligence tools to enhance efficiency
- High comfort and ability with Microsoft Office, including Excel
Benefits
- Medical, dental, and vision insurance
- 12 Paid Holidays & tenure-based PTO accruals
- Employer contributions to Health Savings Accounts
- Company paid Life & Disability Insurance
- 403(b) retirement plan with company match
- Tax-advantage accounts: commuter/parking, medical & dependent care FSA
- Hospital & Critical Illness Insurance
- Confidential, 24/7 Employee Assistance Program
- Pay Rate: $135-160k
The Community Builders is an equal opportunity employer.