Director, Real Estate Investments
LIHTC Leaders · Chicago, IL · 6 days ago
ManagementFull-time
What You'll Do
- Lead financial underwriting and modeling for preservation equity transactions, including recapitalizations, refinancings, and value-add strategies
- Build and maintain institutional-quality financial models, including equity waterwalls, promote structures, and return analysis
- Analyze risk-adjusted returns, downside scenarios, and key sensitivities such as leverage, cap rates, rental growth, and capital needs
- Evaluate and optimize capital stack structures across equity and debt components
- Partner with internal teams to structure and execute transactions from LOI through closing
- Ensure underwriting assumptions are accurately reflected in final deal structures and documentation
- Prepare and present investment committee materials and transaction analyses
- Maintain financial ownership of investments post-closing to ensure continuity between underwriting and performance
- Monitor portfolio performance relative to original assumptions and support ongoing financial analysis
- Collaborate with Asset Management on recapitalizations, refinancings, distributions, and exit planning
- Support portfolio-level investment analysis and performance reviews
- Develop and refine standardized underwriting frameworks, templates, and investment guardrails
- Identify trends and risks across transactions to support the continued scaling of the preservation equity platform
Required Qualifications
- 8+ years of experience in real estate private equity, institutional real estate credit, REIT acquisitions, or real estate investment banking
- Proven experience underwriting value-add, recapitalization, or complex real estate investment strategies
- Advanced financial modeling skills, including equity waterfalls and investment return analysis
- Strong understanding of capital stack structuring and institutional risk analysis
- Experience presenting investment analyses to senior leadership or investment committees
- Bachelor's degree
Preferred Qualifications
- Exposure to affordable housing and/or LIHTC transactions
- Familiarity with agency debt (Fannie Mae, Freddie Mac, HUD)