Director of Real Estate Development - Finance, Corporate Office – Boston, MA / New York, NY

The Director will work with SVP of Finance to understand local housing development systems in Beacon’s target markets with a focus on financing tools and to communicate Beacon’s skills, expertise, and project vision to prospective finance partners. The Director will support financing for development project teams and other related projects to support more efficient financial analysis for Beacon’s development/new business pipeline.
Supervision Received: Reports to the Senior Vice President of Finance at Beacon Communities
FLSA Status: Exempt
Location: Corporate Office (Boston/New York)

Essential Functions of the Position:

• Complex financial modeling to evaluate real estate and related investments with tax credits as well as traditional equity.
• Ensure that financial models accurately capture each deal's financial structure, sources and uses, proforma revenue and operating expenses, debt assumptions, waterfall allocations, tax credit basis, and projected tax credits and equity.
• Review the development team’s proforma, predevelopment templates, and other modeling tools.
• Work with other Beacon departments and development staff to ensure correct and current assumptions about sources, operating expenses and other proforma inputs including proforma troubleshooting, sensitivity analysis, proforma set up, and other requests from project teams regarding financial structure.
• Assist SVP of Finance to support project teams through LOIs. The Director will work with the SVP, project teams, and relevant lenders and investors to structure appropriate debt and equity.
• Working with development accounting, corporate finance, and the development team to prepare the annual aggregation of data from the pipeline proforma models for use in the company’s annual valuation, including making sure pipeline pro-forma models properly reflect the waterfalls on operating cash and residuals, sharing of any fees, and assumptions are reasonable.
• Support SVP in building relationships with investors and lenders who are active in Beacon’s target markets for both tax credit equity and hard equity.
• Create Beacon electronic rolodex to organize and document the company’s equity and debt outreach to target lenders and investors in future projects for both tax credit and acquisitions financing.
• Attend external policy related committee and advocacy meetings and represent Beacon’s agenda regarding tax credit legislation and affordable housing finance.

Minimum Qualifications:
Education: Undergraduate degree (BA or BS), preferably in Real Estate, Economics, Finance, Business or other related field. Ideal candidates will have a masters’ degree (MS, MSRED, MBA, or other) in a field related to real estate development and finance.

Experience: Minimum five years of real estate finance experience specifically in the affordable housing tax credit Investment environment. Experience should include ability to underwrite complex real estate transactions and work on multiple projects simultaneously. Understanding of tax credit structures. History of contributing to company organizational growth through external company representation and business development.

Qualifications, Skills and Abilities:

• Advanced financial modeling skills and real estate finance experience
• Knowledge of real estate pro formas and the Low Income Housing Tax Credit Program (Section 42 of the IRC)
• Understanding of real estate debt and equity markets
• Knowledge and willingness to research affordable housing programs on both a federal and state level
• Ability to manage multiple, current project and easily adapt to changing priorities, to think analytically and to develop and recommend effective solutions
• Must be highly motivated, be able to work independently, solve problems and possess strong written and oral communication skills
• Demonstrated experience working with diverse team, with emphasis on collegial collaboration and partnering in the context of financial planning and strategy
• Ability to effectively communicate (in writing and in conversation) with external parties
• Advanced Skills in Microsoft Excel, Proficiency in InDesign, PowerPoint and Word; and
• A desire to create socioeconomic equality through quality and safe affordable housing

Beacon Core Competencies required for all positions:
Teamwork, Integrity/Ethics, Dependability, Adaptability/Flexibility

Beacon TBD Director Job Competencies:
Problem Solving, Critical Thinking, Interpersonal Skills, Personal Organization, Productivity, Finance, Self-starter, Strategy

The base pay range for this position is between $120,000.00 and $150,000.00 per year.

Benefits Offered:

• Medical, Dental and Vision insurance, beginning on the first of the month after hire.
• 401(k) with company match, short term disability and long term disability insurance.
• 3 weeks’ paid vacation, 13 paid holidays.
• Summer flex scheduling options to allow for early releases on Friday from Memorial Day to Labor Day.

Beacon Communities LLC seeks a diverse pool of candidates. We are committed to a policy of equal employment opportunity without regard to race, color, ancestry, national origin, religion, disability, gender, gender identity, sexual orientation, age, veteran status or other protected class.

Beacon Communities - 2018, 2019, 2020 Boston Globe's Top Places to Work!!

At Beacon, we strive to make a difference in our residents’ lives. We build outstanding communities that make enduring contributions to the vitality of our cities and towns. We create communities that serve a diverse cross section of our society. Our communities are healthy and vibrant. Why? Because they are planned with care, consideration, and compassion.

Company Overview: Founded in 2004, Beacon Communities LLC is a privately-owned real estate firm that develops, acquires, invests in, and manages a wide range of multifamily housing. Beacon currently owns and manages approximately 18,000 apartments including affordable housing, market rate housing, and mixed income-housing. Its developments range from new construction, to historic adaptive reuse, to the renovation of existing housing.


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