Investment Manager

About the role

Integral is seeking a highly experienced finance and investment professional to support underwriting, financing, capital structuring, and execution of a diversified real estate portfolio spanning affordable (including tax credit deals) and conventional multifamily and mixed-use developments and acquisitions.

Key Responsibilities

• Develop and maintain relationships with: Tax credit syndicators and equity investors, Banks, CDFIs, and institutional lenders, Public agencies and housing authorities
• Manage investor reporting, financial updates, and ongoing communications
• Design and execute complex capital stacks incorporating: LIHTC equity (4% and 9%), Tax-exempt bonds, HUD financing (e.g., 221(d)(4), 223(f)), Agency debt (Fannie Mae, Freddie Mac), Construction and permanent loans, Mezzanine and preferred equity, Gap financing (soft funds, grants, subordinate debt)
• Support capital-raising strategy for predevelopment, construction, and permanent financing, including refinancing, recapitalizations, and re-syndications of stabilized LIHTC assets
• Optimize financing structures to enhance returns while maintaining compliance with affordability requirements
• Lead all financial aspects of transactions from inception through closing, including: Term sheet negotiation with lenders, investors, and syndicators, Coordination with legal, tax, and development teams, Oversight of due diligence, third-party reports, and closing deliverables
• Support Development team with preparation and submission of: LIHTC applications (QAP-driven), Bond inducement and volume cap applications, HUD and agency loan packages, Support Development team with closing processes, including document negotiation and capital funding coordination
• Support financial underwriting for acquisitions, rehabilitations (preservation), and ground-up developments across LIHTC and non-LIHTC assets in collaboration with Development and Acquisition teams
• Maintain dynamic, institutional-quality financial models evaluating: Returns (IRR, NPV, equity multiples), Sensitivity and risk scenarios, Capital stack optimization
• Evaluate project feasibility, including market analysis, operating assumptions, and development budgets
• Provide clear investment recommendations to senior leadership and investment committee

Qualifications

• 5+ years of experience in real estate finance, investments, or development
• Deep experience with LIHTC transactions (both 4% and 9%) required
• Proven track record closing complex, multi-layered financing transactions
• Experience with HUD financing (e.g., 221(d)(4), 223(f)) and agency debt strongly preferred
• Familiarity with both affordable housing and conventional/mixed-income deals

Skills

• Strong knowledge of: LIHTC program rules and compliance (QAP, eligible basis, credits delivery), Debt and equity structuring across multiple capital sources, Real estate valuation and investment metrics
• High proficiency in Excel, real estate financial modeling tools and underwriting capabilities

Behaviors

• Strong negotiation and transaction management skills
• Ability to operate both strategically and tactically in a fast-paced environment
• Excellent communication skills for both internal and external stakeholders
• High attention to detail with strong execution discipline

Education

• Bachelor’s degree in finance, Real Estate, Economics, or related field required
• MBA or MSRE preferred