Senior Investment Officer
Company: Massachusetts Housing Investment Corporation
Location: Boston, MA
Job Function: Investment
Massachusetts Housing Investment Corporation (MHIC) is an innovative financier of affordable housing and community development throughout New England, providing financing that would not otherwise be available to neighborhoods most in need. For over 32 years, MHIC has invested more than $3.4 billion to help create and sustain healthy, equitable communities where people, businesses, and organizations can thrive. Supported by an experienced and dedicated staff, MHIC excels in problem solving, with rigorous underwriting, attentive asset management, and timely reporting to investors. To date, MHIC has financed 682 developments, representing more than 26,500 homes and 7.2 million sq. ft. of commercial space. Visit www.mhic.com or LinkedIn and Twitter for more information.
Massachusetts Housing Investment Corporation (MHIC) seeks a skilled and motivated professional to join our team as a Senior Investment Officer. This is a full time hybrid role located in Boston, MA. Reporting to the Director of Community Investment, the Senior Investment Officer is responsible for marketing, acquisition, and oversight of loan and equity products offered by MHIC, including pre-development, acquisition, construction, and bridge loan financing, as well as Low-income Housing Tax Credit, Historic Tax Credit, New Markets Tax Credit, and Healthy Neighborhoods Equity Fund transactions. Key responsibilities include originating, underwriting, and closing affordable housing and community development transactions.
Our ideal candidate will be:
- A thoughtful and thorough underwriter who is also passionate about MHIC’s mission and able to market our products and services.
- An entrepreneurial team player who solves problems, enjoys collaborating with internal and external partners, and communicates effectively in multiple venues.
- An independent contributor who works with minimal supervision, coordinates activities with the Director of Community Investment and colleagues, and exercises autonomy and sound judgment in interaction with an array of stakeholders.
- Build relationships and partnerships with developers and sponsors to identify new projects.
- Assess the relevance, feasibility, and applicability of potential projects to MHIC’s goals and business strategy.
- Prepare responses to developer RFPs, including negotiating business terms, capital structures, and pricing to secure transactions.
- Review loan and equity applications and perform due diligence (including review of appraisals, market studies, capital needs assessments, and environmental reports) on the subject property.
- Perform credit analyses of financial statements for borrowers, guarantors, general partners, property managers and general contractors.
- Prepare loan and investment proposals, including relevant financial models and sensitivity analyses for presentation to the appropriate governing committee and Board of Directors.
- Work with borrowers, general partners, attorneys, consultants, accountants, and other funders to close transactions in a timely manner and with legal documentation acceptable to MHIC.
- Ensure loan and equity investments comply with MHIC policies and procedures and applicable state and federal requirements.
- Participate in product development efforts focused on meeting the unmet financing needs in the community development marketplace.
- Work with executive staff and other senior officers to develop business strategy and accompanying corporate policies and directives.
- Mentor junior staff in areas of expertise.
- Assist with other activities to support the Development and leadership team as requested.
- Deep experience in commercial or real estate lending, affordable housing, or a related field, with at least 5 years’ experience preferred in affordable housing and/or community development finance. Experience working with the Low-income Housing Tax Credit (LIHTC) and/or New Markets Tax Credit programs, banking experience and credit training are desirable.
- College degree in business, finance, planning or related field required, graduate degree desirable.
- Excellent interpersonal skills, including the ability to communicate effectively verbally and in writing with colleagues and external partners representing a wide range of disciplines and backgrounds.
- Ability to manage and effectively prioritize simultaneous and competing activities and demands, remain organized and meet deadlines.
- Ability to clearly articulate problems and concerns and present reasonable solutions.
- Valid driver’s license for travel to site visits and meetings.
Compensation and Benefits
Salary: $98,000-$190,000 per year, full time, based on experience.
MHIC offers a professional, supportive working environment with competitive salary, health and retirement benefits, plus educational and training opportunities
How to Apply
Please submit a cover letter detailing your qualifications for this position, along with a resume to: firstname.lastname@example.org with Senior Investment Officer included in the subject line. Principals only. No phone calls, recruiters, or staffing firms please!