Job Description
Job Description
Reports To : Chief Operations Officer
Department : Real Estate Development
Classification : Exempt
Hours : Full Time, 40 hrs. / week, Monday- Friday, Hybrid
Company Overview
Affordable Homes & Communities (AHC) is a mission-driven, non-profit organization committed to developing affordable, workforce, and mixed-income rental housing in the Virginia, Washington DC, and Baltimore regions. With a resident-centric approach, we manage over 8,000 apartment units in 50 communities, providing educational programs and social services through our Resident Services team.
About the Team
AHC is building a new Acquisitions platform to build on its existing work of new construction and renovations through traditional methods, including 9% and 4% tax credits, within our current geographic footprint. Our strategic plan calls for a doubling of our portfolio in the next four years. We are dedicated to preserving naturally occurring affordable housing while addressing the needs of the "missing middle" and incorporating market-rate assets that generate value and cash flow.
About the Job
The Vice President, of Real Estate Acquisition (VP) is a senior executive responsible for leading and overseeing the acquisition of real estate assets that align with AHC's strategic goals and mission. The VP will play a pivotal role in driving the company’s growth by identifying, evaluating, negotiating, and executing real estate transactions, particularly in the affordable housing sector. The ideal candidate will have a proven track record in real estate investment, strong financial acumen, and exceptional leadership skills to lead a team of acquisition professionals.
AHC is dedicated to preserving naturally occurring affordable housing and addressing the "missing middle" needs. The VP will be responsible for seeking diverse housing solutions that cater to various income levels and adopting inclusive practices in acquisition so that all community members have access to quality housing options.
Responsibilities
Strategic Planning & Acquisition Strategy
- Develop and implement a comprehensive real estate acquisition strategy that reflects AHC's commitment to community and resident well-being, ensuring that all acquisitions support our mission of providing safe, decent housing for residents.
- Collaborate with executive leadership to align acquisitions with portfolio diversification, risk management, and financial goals, emphasizing the importance of sourcing properties that enhance community quality.
Transaction Sourcing & Deal Origination
Lead efforts to source new acquisition opportunities through relationships with brokers, property owners, developers, and other stakeholders, emphasizing partnerships that align with AHC's values.Foster and maintain relationships with key industry players, including real estate brokers, investment banks, private equity firms, and government agencies.Treasury Management
Prepare cash management and cash flow forecasting reports for CFO.Assist CFO with capital planning, loan restructuring, tax planning, M&A and cash management strategies.Due Diligence & Financial Analysis
Oversee the due diligence process for potential acquisitions, ensuring thorough financial, legal, and operational assessments.Lead the development of detailed financial models, including pro formas, cash flow projections, and return on investment (ROI) analysis.Navigation & Transaction Execution
Lead negotiations for the purchase of affordable housing assets, ensuring favorable terms for the company while upholding AHC's mission and values.Manage the preparation of key transaction documents, including purchase agreements, letters of intent (LOIs), and memorandums of understanding (MOUs).Team Leadership & Development
Build, lead, and mentor a high-performing acquisition team, fostering a culture of collaboration, innovation, and accountability that reflects AHC's commitment to excellence.Set clear performance goals and provide ongoing coaching and development to team members.Portfolio Management & Asset Integration
Oversee the post-acquisition integration of assets into the company’s real estate portfolio, ensuring that all properties contribute positively.Ensure proper transition of assets into ongoing operations, working with property management and asset management teams to maximize value.Reporting & Communication
Regularly report on acquisition activities and key market insights to senior leadership, the investment committee, and stakeholders, ensuring transparency and accountability in all operations.The above listing represents the general duties considered essential functions of the job and is not to be considered a detailed description of all the work requirements that may be inherent in the position.
Qualifications
Bachelor’s degree in real estate, finance, business administration, or a related field. MBA or advanced degree preferred.Minimum 10-15 years of progressive experience in real estate acquisition, investment, or development, with a proven track record of successfully executing large-scale real estate transactions, particularly in the affordable housing sector.Minimum of five years of experience in brokerage sales or acquisitions in the market and / or affordable multifamily housing space is required, along with a demonstrated network of acquisition contacts in this area.Strong leadership and team management skills, with the ability to motivate, guide, and develop professionals.Exceptional negotiation skills, with the ability to close complex deals in a fast-paced environment.Advanced knowledge of real estate markets, trends, and regulatory environments, especially related to affordable housing.Expertise in financial analysis, investment strategies, and real estate valuation methods (e.g., discounted cash flow, cap rate, etc.).High proficiency with real estate acquisition software, Microsoft Excel, and other financial modeling tools.Excellent verbal and written communication skills, including the ability to effectively present complex information to senior executives and stakeholders.Strong interpersonal skills and the ability to build and maintain relationships with internal and external stakeholders, reflecting AHC's core values of integrity, transparency, and a commitment to excellence.Results-driven and strategic thinker with a hands-on, pragmatic approach to execution.High integrity and ethical standards, with a commitment to transparency and accountability.Ability to thrive in a dynamic, fast-paced, and changing environment.Commitment to continuous improvement and learning, staying updated on best practices in affordable housing and community development.Working at AHC
AHC has a Hybrid Work Schedule with staff working onsite on our core days (Monday, Tuesday, and Thursday). Staff may work remotely on Wednesday and Friday.
Please ensure your application includes both your resume and cover letter.
