Director of Acquisitions

Who we are:

Texas Housing Conservancy is a nonprofit organization that ensures Texas' workforce can afford to live in Texas by preserving well-located multi-family apartment properties for long-term affordability.

Vision: Empowering the Texas workforce with personal prosperity through stable housing, ensuring Texas' economic growth for generations to come.

Mission: As a nonprofit, we mobilize private capital to preserve workforce housing in Texas by bridging the growing gap between the cost of housing and wage growth.

Values:

• Transformative: We take on the challenges of achieving and growing our mission by pioneering solutions with integrity and compassion.
• Trustworthy: We ensure our actions align with our values and operate through responsible governance, transparency, and consistency.
• Collaborative: We accomplish our mission by building team connection and seeking mutual goals with our external partnerships.
• Impactful: We are dedicated to serving our residents by fostering communities and empowering personal prosperity.

Culture Statement:

At Texas Housing Conservancy, we embrace a growth mindset. We believe in striving for continuous improvement, in ourselves and how we impact others. We are resourceful in finding solutions beyond the obvious. We embrace a collaborative environment knowing it takes all of us, our team, our board, our partners, our investors, our residents, and the communities we serve to deliver on our commitments. We are dedicated to achieving excellence while fostering a fun work environment.

Job Description:

The Director – Acquisitions is responsible for acquisition and partner sourcing and underwriting, deal

structuring, analysis, due diligence and closing for properties added to the portfolio of the Texas Housing Conservancy Fund. The position reports to the CEO of TxHC and works directly with debt, accounting and portfolio management functions. 

Essential Duties and Responsibilities:

·       Lead sourcing, due diligence and preparation of investment briefs on potential acquisitions.

·       Structure acquisitions with housing agencies to meet their affordability goals while achieving

real estate tax abatements and additional fee income for TXHC.

·       Source and structure third-party equity partnerships that will leverage Fund equity and allow for

additional fee income for TXHC.

·       Structure recapitalizations and other creative acquisition opportunities. When appropriate,

participate in placing the Fund in new development and repositioning opportunities.

·       Participate in financing of acquisitions and refinancing of properties within the portfolio.

·       Maintain research on market transactions, rental rate and occupancy trends.

·       Consult on internal valuation of properties and annual third-party appraisals. Participate in

quarterly NAV process.

·       Prepare and maintain process and procedure manual for Acquisitions.

·       Participate in the preparation of the Annual Report and other marketing materials.

·       Complete property and debt analysis and due diligence.

·       If available, manage the activities and develop the skills of an Analyst/Associate, outside

consultants and other staff in completing areas of responsibilities.

Our Expectations:

·       Strong commitment to the mission and vision of the Texas Housing Conservancy

• Promote a culture of high performance and continuous improvement that reflect TxHC’s core values
• Acts as a role model both within and outside the TxHC

Who You Are:

•      A successful deal person with a bachelor’s degree in finance, business or related field

•      A professional looking for a new challenge with a minimum of ten years’ combined work experience in real estate.  Multifamily preferred. 

•      Strong interpersonal skills, ability to communicate well with all levels of the organization, the

real estate brokerage community and with potential partners.

•      Strong problem solving and creative skills and the ability to exercise sound judgement and make decisions based on accurate and timely analysis.

•      Excellent written communication skills

•      Skilled at Excel, Word, and PowerPoint.

•      Team player willing to take on various unrelated responsibilities in highly entrepreneurial

environment

•      Mission and culture aligned.

Compensation and Benefits:

·       Amazing company culture – we don’t just talk about values, we live them

·       Generous benefits package including paid vacation, holiday and sick leave, health benefits, 401k

·       Salary commensurate with experience with bonus based on performance

This position requires applicants to submit a deal sheet and a cover letter explaining their alignment with our mission in addition to a resume.