Director or Senior Director of Real Estate Transactions

1 month ago

Minneapolis, Minnesota, United States Aeon Full time

Organization Background

Aeon is a nonprofit developer, owner and manager of quality, affordable homes in the Twin Cities. Since 1986, the award-winning nonprofit has built or renovated 5,900 apartments and townhomes. These homes provide stability to more than 17,000 people each year. At Aeon, we believe everyone deserves a home. But the threat of homelessness is real. Too many people are struggling to make ends meet. One illness, one day without work, one family emergency, could leave them with nowhere else to go. Together, we will act boldly to create and preserve quality, affordable homes for those who need them most. With Aeon, you'll discover hard work that's worth it. Learn more about Aeon at .

Position Summary

The Director or Senior Director of Real Estate Transactions is responsible for recapitalizing assets, refinancing property debt, and completing property workouts, and property dispositions. This position will collaboratively participate in the asset strategy and will lead communications with all investors, partners, and lenders regarding these transactions. Internally, the position will work cooperatively with Aeon's CFO, Senior Director of Asset Management, Director of Housing Development, property operations team, and accounting staff to complete these transactions. This position will prepare internal reports and assist in preparations to present to governing bodies for approval. This position reports directly to the Chief Real Estate Officer.

Some of the Director or Senior Director of Real Estate Transactions specific and essential tasks may include but are not limited to:

  • Identifying refinancing opportunities and advantageous debt products, completing the process from identification to application and closing.
  • Developing requests for proposals (RFPs) for debt and equity and negotiating term sheets with lenders and/or partners for second stage LIHTC transactions.
  • Establishing and managing the predevelopment and recapitalization budgets to achieve projected financial objectives, tracking costs, analyzing and resolving budget shortfalls.
  • Working with the Senior Director of Asset Management to monitor the financial performance of the existing portfolio including current year performance, budgeting and capital needs to identify candidates for disposition, recapitalization, or refinancing.
  • Completing portfolio analysis related to rents, surplus cash waterfall, operating comps, etc.
  • Reviewing and negotiating closing documentation and/or researching information about previously closed transactions.
  • Assisting with limited partner exits and lender/investor relations.

Experience & Knowledge

Candidates for this position should have least 8 years of relevant experience and demonstrated knowledge in some or all of the following areas:

  • Structuring, negotiating, and bringing refinancing and/or second stage tax credit recapitalizations to closing.
  • Public and private financing and transaction structuring.
  • Housing and community development, especially affordable housing and the regulations and financing applicable to the industry.
  • Asset Management and/or property management experience for affordable housing properties.
  • Must have successfully participated in real estate negotiations for acquisitions and dispositions. Must exhibit an understanding of options for controlling real estate property and have an in-depth knowledge of related legal contracts.
  • Must illustrate an ability to craft housing development budgets and proforma. Must possess comprehensive knowledge of financial risk and liability mitigation and show competency in multi-family real estate financing and analysis, including affordable housing finance.
  • Financing Programs: Must have direct experience with various funding programs, such as the Low-Income Housing Tax Credit program, Federal Funds (CDBG, HOME, etc.), Housing Revenue Bonds and/or 501(c)3 Bond programs, HUD programs (221d4, 223f, 202, 811, etc.), Tax Increment Financing, Minnesota Housing funding programs.

Candidates should have demonstrated ability to:

  • Successfully marshal complex real estate transactions to completion.
  • Exceptional relationship and communication skills and ability to work collaboratively.
  • Ability to work with multiple constituencies and reconcile competing needs.
  • Model refinancing and recapitalization transactions.
  • Manage simultaneous and competing activities and demands.
  • Remain organized and meet deadlines.

Skills & Qualifications

The successful candidate will demonstrate strong leadership and motivational abilities, exceptional verbal and written communication skills and the ability to successfully interact with a wide range of people. They should be a resourceful problem solver with attention to detail and a seeker of excellence who values results, hard work, community service, and teamwork. Above all, the candidate must have a strong belief in the mission of Aeon and in the people and neighborhoods it serves. It is critical that the candidate has the ability to work effectively with a diverse group of people.

Qualifications include but are not limited to:

  • Ability to engage in interpersonal communication that is culturally responsive, ensuring consideration for differing needs and expectations.
  • Must have a commitment to learning and participating in Aeon's diversity, equity, and inclusion efforts.
  • A commitment to equitable service to our community, valuing the diversity of everyone's culture, background, and voice is required.

Compensation

Compensation is commensurate with experience. Aeon offers an impressive benefits package for full-time employees which includes medical, dental, vision, life insurance, short-term and long-term disability, retirement plan, paid time off and an employee assistance program.

Work Hours and Location

This full-time position offers mostly Monday-Friday, daytime hours. Typical work schedules are 8:30am-5pm, with some flexibility to accommodate the needs of the position and the staff person. This is an in-person position and will office mostly out of Aeon's Central Office in the North Loop of Minneapolis, MN with some work in the field as needed. This position may have the opportunity for occasional remote work, but due to the regular in-person needs, this position is only open to current Minnesota residents or candidates willing to relocate prior to a start date with Aeon.

If you are interested in applying for this position, please visit:

Position is open until filled.

Aeon values a diverse work environment. Individuals with disabilities, persons from BIPOC communities, the LGBTQ+ community, and people from underrepresented communities are strongly encouraged to apply.

Aeon is an Equal Opportunity / Affirmative Action

Employer Employees and residents are encouraged to apply.

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