Acquisitions Associate

Position: Associate, Affordable Housing Acquisition & Development, Fairstead

Location: Washington DC/Bethesda, MD/NYC

Start Date: ASAP

Salary: Market  

Fairstead is a vertically integrated real estate investor, developer, owner, and operator specializing in affordable and mixed-income housing. Since 2014, Fairstead has acquired and/or developed more than $4 Billion of multifamily property across the country, and today owns a portfolio of 12,000 apartments in 14 states. The company’s comprehensive platform provides hands-on expertise across all multifamily disciplines, including acquisitions, development, design and construction, energy and sustainability, property management and social services.

Primary Responsibilities:

• Assist the group in all aspects of affordable and mixed-income housing acquisition, rehabilitation, and development (Section 8, LIHTC, etc.) in core markets across the US.
• Enhance and support the company’s strategic plan for growth through acquisition and development opportunities in affordable and mixed-income housing.
• Make impactful contributions to analysis that will inform the firm’s investment decisions.
• Contribute on all phases of a deal and understanding of a project from sourcing through stabilization.
• Compile due diligence information including financial, market, site, and regulatory data.
• Order and review third-party reports, including plan and cost reviews and environmental reports, highlighting key issues with relevant internal and external stakeholders for clarity and refinement.
• Analyze and compare complex partnership agreements and cash flow waterfalls.
• Coordinate and assist on presentations for community meetings and governmental approvals.
• Manage and control project pro forma analysis including budgets, schedule, timing, and underwriting assumptions.
• Complete applications and documentation necessary for debt and equity financing, project requisitions, property purchase and sale, and government subsidy renewal.
• Support detailed analyses of project schedule delays, cost overruns, productivity, contracts, change orders and other issues related to design and construction.
• Actively participate in contract negotiation and review of legal documentation for each project.
• Validate and defend budgets, assumptions, and pro-forma analysis.
• Build, coordinate, and lead internal team members and external consultants through conceptual design and entitlements leading to construction documents.

• Coordinate with appropriate personnel including team analysts, clerical support, and others.

• Perform, coordinate, and lead pre-development work such as preliminary architectural and engineering issues, zoning issues, local government, and community support.

• Prepare investment packages for senior-level review.

Qualifications

• Bachelor’s Degree in related field, advanced degree preferred.
• 3-5 years of experience in real estate development and/or construction, preferably multifamily.
• LIHTC and Section 8 development experience highly preferred.
• Strong quantitative, financial analysis and modeling (excel) skills.
• Exceptional research and writing abilities.
• Exceptional written and verbal communication skills.
• Strong project management skills and follow-through.
• Ability to multi-task and prioritize appropriately in a constantly changing environment and act with a sense of urgency and accountability.
• Highly driven and values entrepreneurialism; works well within ambiguity.
• Exceptional attention to detail.
• Sound judgment.
• Some travel required.