The Assistant Project Manager provides support to various Project Managers in the Underwriting Department in underwriting and closing equity investments on affordable housing communities throughout the nation, utilizing federal Low Income Housing Tax Credits (LIHTC). The position will be responsible for managing due diligence, assisting in the preparation of committee and investor packages for approval, managing third party vendors, and providing support to the Project Managers in enhancing existing and new relationships with the developers and investors WNC works with.
- Assist with financial analysis of a project, which includes confirming income limits, rents, unit mix, utility allowances; performing operating expense analysis; and running sensitivity analysis as requested;
- Manage due diligence on a project from underwriting to close;
- Initiate and manage third party reports, such as market studies, construction plan and cost reviews, seismic studies, and environmental desk reviews;
- Provide support to the Project Managers in preparing a package for Investment Committee. This will include drafting of the Investment Package, with underwritten information on the development team and their experience, including financial capacity and real estate performance.
- Assist with closing, (such as reviewing insurance certificates, draft settlement statements, payment and performance bonds, etc. to ensure conformance with WNC’s requirements);
- Prepare funding packages for project closings and ensure a smooth closing by following up on any outstanding items still needed to fund;
- Assist with the transition to Asset Management, including closing out the project and ensuring all final agreements, e.g. partnership agreement, loan documents and other relevant documents are in reflected in a closing folder as part of the transition.
- Other duties as assigned.
- Proficient in Microsoft Office
- Strong attention to detail and ability to manage and perform multiple tasks at the same time;
- Strong organizational skills required;
- Strong verbal, written and interpersonal communication skills and the ability to work well with others;
- 2 years of experience in real estate or affordable housing preferred, but not required;
Bachelor’s Degree in Business, Economics, Finance, Real Estate or related field preferred.
WNC & Associates, Inc., was founded in 1971 when most people had never heard of affordable housing. At that time, few saw the opportunities in this emerging industry. That year we closed our first investment in affordable housing, becoming one of the first in the country to do so. Today, with more than $7 billon of real estate assets acquired including over 1,225 properties in 45 states, we don't just say we are an "industry leader" and a "long-term partner," we've proven it for over four decades.
Location/Region: Irvine, CA (US)