The Company
Advantage Capital has been financing projects and companies in communities underserved by traditional sources of capital since 1992, helping transform local economies.
Our syndication group provides state tax credit equity to help developers finance their new construction, rehabilitation and mixed-use projects. Advantage Capital has syndicated over $2.3B in federal and $2.4B in state tax credits over a more than 30-year history and, in the process, developed deep expertise in efficiently structuring and closing transactions.
We are currently active in the following states for state LIHTC: Arizona, Arkansas, Colorado, DC, Georgia, Hawaii, Indiana, Kansas, Missouri, Nebraska, Ohio, Oklahoma, South Carolina, Utah, Virginia, Texas and Wisconsin.
The Role
The Business Development Officer (BDO) is responsible for sourcing state LIHTC opportunities in their respective market by building relationships. The BDO will develop new relationships and maintain existing relationships with affordable housing developers, write support letters for LIHTC applications, complete the initial credit review of real estate and sponsor strength, and take ownership of transactions. They are the face of Advantage Capital and stay involved in the transaction from sourcing, screening and closing. The BDO must maintain and enhance client relationships with developers through attentive and responsive client service.
This position is remote; however, the role will require substantial travel. We welcome and desire candidates from all backgrounds to apply. A candidate with experience in LIHTC originations experience is preferred.
Key Responsibilities
- Build strong client relationships with LIHTC developers and their strategic partners.
- Originate state LIHTC opportunities through their strong relationships.
- Review and analyze prospective deal opportunities, including project feasibility, strength of the general partner/developer, and financial returns.
- Know their market and make recommendations to leadership around pricing and deal terms.
- Negotiate LOIs with the developers.
- Assist in writing and reviewing investment committee packages.
- Serve as contact for general partners/developers on individual deals to ensure timely, efficient, and thorough processing of due diligence.
- Identify and evaluate possible solutions to potential deal issues.
- Work with Underwriters and Senior Management to determine optimal strategy to mitigate deal risk and lead client negotiation to achieve successful resolution of issues, or if unsuccessful, to terminate the deal.
- Collect and disseminate market intelligence on tax credit investment industry, including deal term and structure trends and state tax allocation activity.
- Other tasks as directed.
Qualifications
- Strong background in real estate underwriting to include market analysis and identifying key risks.
- Strong background in reviewing developers’ financial statements.
- Working Knowledge of LIHTC compliance requirements.
- Ability to independently interpret data, identify inconsistencies or noncompliance and make recommendations to leadership.
- Excellent verbal and written communication skills.
- Excellent organizational skills and attention to detail.
- Must be comfortable to speak in front of large groups, manage conferences on their own.
- Ability to multi-task and prioritize responsibilities as needed.
- Excellent time management skills with a proven ability to meet deadlines.
- Works well in a team setting.
- Strong analytical and problem-solving skills.
- Ability to maintain confidentiality, and to exercise discretion and good judgment.
Education Requirements
- Bachelor’s degree in business or finance, preferred
- Five years of experience in the real estate industry with a preference for LIHTC experience
- Originations experience – either debt or equity
- Understanding of general accounting principles
- Advanced financial and analytical skills with the ability to understand complex real estate and financial transactions, tax credit, partnership agreements
- Excellent verbal, written, presentation, and organizational skills
- Ability to balance multiple projects and communicate effectively with senior management, developers, and investors
- Strong negotiation and problem-solving skills
