Investment Officer

Background

Greater Minnesota Housing Fund (GMHF) is a 501(c)3 Certified Community Development Financial Institution (CDFI) committed to creating strong communities and affordable homes through strategic investments and effective partnerships. Our Minnesota-based CDFI advances affordable housing throughout Minnesota by directly funding affordable housing projects, providing technical support to local communities and businesses, linking projects with financial resources, securing additional resources for affordable housing, and using research and program development activities to identify new and innovative ways of increasing affordable housing production.

We are dedicated to social and racial justice and committed to advancing solutions that support equity for communities of color throughout Minnesota. We strive to positively impact the lives of those we serve by providing high-quality affordable housing options and community development services.

Summary

The Investment Officer reports to the Director of Equity Investing on the activities of Greater Minnesota Housing Fund’s (GMHF’s) subsidiaries, Minnesota Equity Fund (MEF) and NOAH Impact Fund (NIF).

The Investment Officer works with developers, owner-operators, legal counsel, lenders, strategic partners, government officials, housing agencies, consultants, and other organizations to prioritize projects, assess project viability, and close funded projects. The position is weighted towards financial analysis, deal structuring, and resolving legal and technical issues that requires in-depth knowledge of and direct experience with multifamily real estate development and affordable housing programs and tools. This includes experience with the Low-Income Housing Tax Credit (LIHTC) program; and market rate but affordable Naturally Occurring Affordable Housing (NOAH).

Candidates must be able to work flexibly in a fast-paced environment, independently and with teams, with great attention to detail and a high degree of emotional intelligence. Candidates must demonstrate solid multifamily real estate underwriting skills, effective communication skills, and proficiency with Excel, Word, and PowerPoint.

Responsibilities

MEF LIHTC Syndication Activities

• In coordination with the Director of Equity Investing, key GMHF staff, and key Cinnaire staff (GMHF’s strategic partner in MEF):
  • Secure $20-25 million of letters of intent annually.
  • Close $20-25 million of LIHTC investments annually.
  • Cultivate relationships with affordable housing developers statewide.
  • Identify prospective LIHTC projects through the Super RFP or on a pipeline basis.
  • Provide technical assistance and application letters to affordable housing developers.
  • Promote combining MEF equity and GMHF companion lending products.
  • Monitor ongoing project underwriting and due diligence calls.
  • Help collect, share, and review due diligence and financing documents.
  • Negotiate partnership or operating agreements, with Cinnaire’s team.
  • Prepare presentations for MEF’s Investment Committee and MEF’s investors.
  • Guide post-closing internal and external transition and debrief meetings.

NIF Acquisition & Preservation Activities

• In coordination with the Director of Equity Investing and key GMHF staff:
  • Close $5-10 million of NOAH Impact Fund investments annually.
  • Recruit potential NOAH owner-operator partners in the Twin Cities metro area.
  • Identify opportunities for NOAH property acquisitions in the Twin Cities metro area.
  • Support owner-operator partners by reviewing offering memos, preparing and analyzing proformas, evaluating initial due diligence, and providing letters of intent.
  • Conduct in-depth feasibility analysis including evaluating/finalizing proformas and reviewing/approving project information such as rent rolls, physical needs assessments, environmental assessments, market data, appraisals, and rehabilitation plans.
  • Negotiate loan documents and operating agreements, with NIF’s legal counsel.
  • Coordinate underwriting and closing, with key GMHF staff and NIF’s legal counsel.
  • Prepare investment recommendations for NIF’s Investment Committee.
  • Work with GMHF’s Asset Manager as needed.

General Areas of Responsibility

• Report to the Director of Equity Investing on all aspects of the business for MEF and NIF.
• Conduct project management and related administrative functions.
• Other duties and responsibilities as assigned.

Requirements

• 7 or more years of related experience in affordable housing finance and/or development.
• Demonstrated analytical, organizational, and project management skills.
• Ability to think creatively and problem solve. High tolerance for ambiguity.
• Personal maturity, strong interpersonal skills, and proven ability to negotiate effectively and resolve conflicts professionally. Excellent oral and written communication skills.
• Ability to effectively prioritize competing work tasks under pressure to meet deadlines while maintaining high quality work products. Must take initiative and drive process.
• Ability to work both independently and collaboratively in a dynamic organization.
• Availability for occasional travel (projects, conferences, etc.).
• Bachelor’s Degree in Real Estate, Finance, or Economics, or equivalent experience.

Compensation and Benefits

GMHF offers flexible telework arrangements, competitive compensation and benefits, and a collaborative work environment. Please visit our web site at: www.gmhf.com

Salary range: $100,000-$125,000 DOQ

How to Apply

Email Resume and Cover Letter to:

Alexis Lancaster
Executive Assistant
alancaster@gmhf.com