What are the responsibilities and job description for the VP Acquisitions & Investments position at The Community Preservation Corporation?
About Us
The Community Preservation Corporation (CPC) believes stable and sustainable affordable housing is the foundation of strong communities and we strive to contribute to comprehensive neighborhood revitalization through our lending and partnerships. A nationally recognized leader in affordable housing finance, CPC has provided a consistent source of capital to underserved housing markets throughout New York State since our inception in 1974.
Today, CPC stands as the largest CDFI solely committed to investing in multifamily housing, having invested more than $15 billion to finance the creation and preservation of more than 230,000 units of quality housing in neighborhoods across New York State and beyond. CPC has a robust construction lending platform, a mortgage bank, and equity and impact investment platforms that focus on our three goals: Expanding Affordable Housing, Closing the Racial Wealth Gap and Investing in the Green Economy.
As a member of our team, you'll have the opportunity to work on impactful projects that make a real difference in people's lives. We're looking for talented individuals who are passionate about our mission and share our values of commitment, respect, excellence, accountability, and collaboration.
About Equity Investments
CPC’s Equity Investments platform invests into stabilized and cash-flowing properties which provide housing that is affordable or socially transformative. Our current portfolio includes $85M of investments in more than 4,500 units and alternative investments. Typical investment size is $2.5M - $7.5M and terms are non-extractive and flexible, aligning interests and ensuring positive outcomes for everyone. We invest nationwide in strong and growing markets, in climate resilient areas exhibiting demonstrable support for needed affordable housing. We are a trusted partner and resource throughout the investment lifecycle, working closely with operating partners to enhance value and drive affordability.
Role Summary
The VP Acquisitions & Investments will run and perform all stages of the acquisition and investment process to manage relationships, underwrite assets, and assess partnerships. Reporting directly to the SVP of Equity Investments, you will nurture relationships throughout the development community, perform and coordinate a detailed investment analysis on prospective investment, document and present your investment thesis, and drive the closing process. Eventually, you will take on sourcing and originations, and you will evolve the investment thesis as markets change.
The Vice President of Acquisitions & Investments position is ideal for a seasoned professional seeking an opportunity to make and use connections across the industry, to creatively apply knowledge of affordable housing, and to deploy meaningful capital. You will know – and learn more about – every aspect of the real estate industry, including: development, construction, negotiations, financial modelling, government policy, legal, documentation, and the internal operations of developers.
The successful candidate will be a key and execution-focused contributor to the growth of CPC’s investment portfolio and investment team. The candidate will be knowledgeable about the players and policies that drive affordable housing, will have strong numerical skills, and will use soft skills to manage relationships. Our historic focus is New York City and State, but we are currently active nation-wide. We are also exploring the use of 3 rd party capital. As you gain experience, and as investment parameters evolve, you will be asked to define revise the acquisitions role.
What You’ll Do
The Community Preservation Corporation is an Equal Opportunity Employer and all employment-related decisions including recruitment, selection, evaluation, promotion, compensation, training and termination are made without regard to race, creed, color, national origin, sex, disability, marital status, status as a veteran, sexual orientation or gender identity, or any other protected status.
The Community Preservation Corporation (CPC) believes stable and sustainable affordable housing is the foundation of strong communities and we strive to contribute to comprehensive neighborhood revitalization through our lending and partnerships. A nationally recognized leader in affordable housing finance, CPC has provided a consistent source of capital to underserved housing markets throughout New York State since our inception in 1974.
Today, CPC stands as the largest CDFI solely committed to investing in multifamily housing, having invested more than $15 billion to finance the creation and preservation of more than 230,000 units of quality housing in neighborhoods across New York State and beyond. CPC has a robust construction lending platform, a mortgage bank, and equity and impact investment platforms that focus on our three goals: Expanding Affordable Housing, Closing the Racial Wealth Gap and Investing in the Green Economy.
As a member of our team, you'll have the opportunity to work on impactful projects that make a real difference in people's lives. We're looking for talented individuals who are passionate about our mission and share our values of commitment, respect, excellence, accountability, and collaboration.
About Equity Investments
CPC’s Equity Investments platform invests into stabilized and cash-flowing properties which provide housing that is affordable or socially transformative. Our current portfolio includes $85M of investments in more than 4,500 units and alternative investments. Typical investment size is $2.5M - $7.5M and terms are non-extractive and flexible, aligning interests and ensuring positive outcomes for everyone. We invest nationwide in strong and growing markets, in climate resilient areas exhibiting demonstrable support for needed affordable housing. We are a trusted partner and resource throughout the investment lifecycle, working closely with operating partners to enhance value and drive affordability.
Role Summary
The VP Acquisitions & Investments will run and perform all stages of the acquisition and investment process to manage relationships, underwrite assets, and assess partnerships. Reporting directly to the SVP of Equity Investments, you will nurture relationships throughout the development community, perform and coordinate a detailed investment analysis on prospective investment, document and present your investment thesis, and drive the closing process. Eventually, you will take on sourcing and originations, and you will evolve the investment thesis as markets change.
The Vice President of Acquisitions & Investments position is ideal for a seasoned professional seeking an opportunity to make and use connections across the industry, to creatively apply knowledge of affordable housing, and to deploy meaningful capital. You will know – and learn more about – every aspect of the real estate industry, including: development, construction, negotiations, financial modelling, government policy, legal, documentation, and the internal operations of developers.
The successful candidate will be a key and execution-focused contributor to the growth of CPC’s investment portfolio and investment team. The candidate will be knowledgeable about the players and policies that drive affordable housing, will have strong numerical skills, and will use soft skills to manage relationships. Our historic focus is New York City and State, but we are currently active nation-wide. We are also exploring the use of 3 rd party capital. As you gain experience, and as investment parameters evolve, you will be asked to define revise the acquisitions role.
What You’ll Do
- Perform outreach to potential operating partners to assess deals, diagnose challenges, and propose financial solutions and structures.
- Evaluate incoming equity investment requests, including reviewing developer partners’ project pro formas and narratives, creating internal pro formas, and calculating equity return metrics.
- Stress- and sensitivity-test assumptions to confirm investment viability; review architectural plans and constructability; review plans and materials; assess all ancillary documentation such as property and environmental reports.
- Research and analyze developers, properties, policies, neighborhoods, and other factors of a potential investment to ensure conformance with equity program requirements; collaborate with 3 rd party equity investment groups to support full project capitalization, as necessary.
- Liaise with potential developer partners to identify and gather pertinent documents and related information on economics of properties to be used in evaluating potential investments.
- Write summaries of equity investment requests, including project details, developer details, and underwriting analysis. Present summaries to the CPC Investment Committee.
- Negotiate JV documents, identifying and resolving key areas of risk and opportunity.
- Manage closings and diligence; interface with development partners, banks, and co-investors.
- Provide support to asset management team to ensure alignment of ongoing operations with original projections.
- Work collaboratively with the appropriate CPC team(s) to support our innovative deployment of capital across construction lending, permanent lending, and impact investments.
- Ability to balance both Mission-driven objectives and economic objectives
- Comfortable in a dynamic, fluid environment; ability to create strategic execution frameworks
- Perform other duties as directed or required.
- Master’s degree and 7 years’ experience in finance, real estate development, or a related field. Alternative evidence of excellence in the field may be considered by CPC.
- Required skills:
- Knowledge of affordable housing financing programs and experience with developers of affordable housing is required; knowledge of federal programs is desired.
- Strong Excel and financial analysis skills; able to efficiently analyze and create real estate pro formas.
- Strong written and communication skills, including the ability to identify and highlight key project details.
- Strong organizational skills with the ability to prioritize and multi-task; detail-oriented.
- Strong deal level skills – must know where the challenges and opportunities exist within a real estate deal.
- Knowledge of the affordable housing industry, key players, and financing programs.
- Demonstrated ability to self-motivate, with a proven ability to work independently and as a member of a team.
- Competitive compensation
- 401(k) retirement plans with employer match
- Medical, dental, and vision benefits for employees and their dependents
- Commuter benefits
- PTO for vacation, personal days, sick leave, holidays, jury duty, bereavement, parental leave, and disability
- Tuition assistance program
- Two “work from anywhere” weeks per year
- Summer Fridays
- Collaborative working spaces
- Service days to support our communities
- Employee development and engagement events
- More about our offerings and culture here
The Community Preservation Corporation is an Equal Opportunity Employer and all employment-related decisions including recruitment, selection, evaluation, promotion, compensation, training and termination are made without regard to race, creed, color, national origin, sex, disability, marital status, status as a veteran, sexual orientation or gender identity, or any other protected status.
Salary : $150,000 - $175,000
