Director of Portfolio Investment (Oakland, Foster City, Watsonville)

About MidPen

At MidPen we build communities that change lives. Since 1970 we have been committed to our mission: to provide safe affordable housing of high quality to those in need; establish stability and opportunity in the lives of residents; and foster diverse communities that allow people from all ethnic social and economic backgrounds to live in dignity harmony and mutual respect.

We develop affordable housing provide professional property management for all our communities and coordinate robust onsite support programs that help residents thrive. We are active in 12 Northern California counties and have earned recognition as one of the nations leading non-profit developers and stewards of affordable housing. Our current portfolio of more than 142 properties is home to 22800 working families seniors and people with special needs. We take pride in delivering affordable housing solutions and we invite you to join us on a journey toward social economic and racial equity.

Location: Oakland Foster City Watsonville

Director of Portfolio Investment

The Director of Portfolio Investment reports to the Senior Vice President of Asset & Budget Management and as a member of MidPens Senior Leadership Team contributes to a positive and impactful work environment. The Director develops and executes recapitalization strategies for MidPens property portfolio including resyndications rehabilitation refinancing and transactions funded through public and private loans grants and rebate programs. This role requires sound judgment autonomy and strong collaboration with internal and external partners. The Director also leads a team of project and transaction managers overseeing hiring performance professional development and goal achievement while fostering cross-departmental relationships and improving processes policies and operational efficiency.

Responsibilities:

Leadership & Supervision

• Hire train and supervise personnel to foster a positive work environment promote cross-departmental teamwork and achieve project assignments and goals in a timely professional manner.
• Establish clear expectations and accountability support staff development through coaching and delegation and leverage internal and external relationships to remove barriers and improve efficiency.
• Demonstrate leadership beyond the Transactions Team to enhance the experience of staff across MidPen .

Portfolio Investment Strategy

• Develop and maintain short- and long-term portfolio recapitalization plans including refinancing resyndication capital improvements funded through public loans and grants and energy upgrades.
• Evaluate potential projects and financing sources monitor Requests for Proposals (RFPs) and Notices of Funds Available (NOFAs) and recommend opportunities for inclusion in project pipelines.
• Assess proposed projects impact on cash flow compliance rents and long-term capital needs providing recommendations for approval.

Project Financing

• Supervise the preparation of funding applications and approve financing plans to ensure compliance with MidPen underwriting standards.
• Lead or support financing closings and negotiations with lenders and investors ensure loan terms are documented through MidPens Term Sheet process and verify that underwriting and budgets accurately reflect project sources uses and pro forma changes.
• Collaborate with Project Managers to maintain and refine critical path schedules and ensure key milestones are achieved.

Property Rehabs

• Oversee project budgets cost tracking and schedules; ensure capital projects comply with MidPen building guidelines and contribute to their ongoing development.
• Collaborate with internal teams and external experts to determine the highest and best use of available funds and establish appropriate project scopes and budgets.
• Partner with Construction Management to ensure capital improvements are completed on time within budget and in accordance with contracts and project plans; oversee design permitting contractor and consultant negotiations and the collection and documentation of warranties and operations and maintenance manuals.

Represent MidPen

• Represent MidPen before public bodies at public hearings and in speaking engagements; develop and maintain positive relationships with internal and external stakeholders.
• Network with relevant organizations and individuals and provide technical assistance to other nonprofit organizations as appropriate .

Internal Coordination

• Coordinate with internal stakeholders including Property Management and Services and ensure adherence to established protocols for cross-departmental collaboration.
• Ensure building programs financing plans operating budgets and reserves meet MidPen standards and that project budgets and critical path schedules are accurate and regularly updated with changes communicated promptly.
• Ensure compliance with MidPens Development Guidelines Real Estate Investment Guidelines and Board of Directors and Development Committee reporting requirements including monthly board memos and project summary reports.

Performs other assignments as requested

Qualifications:

To perform this job successfully an individual must be able to perform each essential function satisfactorily. The requirements listed below are representative of theeducationknowledge skill and/or ability required.

E ducation and Experience

• Graduate or Professional degree in Urban Planning Community Development Architecture or related fields with an emphasis on real estate development or an equivalent combination of education and experience
• At least seven (7) years prior development experience
• Previous work experience managing personnel required

K nowledge S kills and A bilities

• Thorough knowledge of federal state local and private financing sources for low-income housing including real estate and tax law related to affordable housing development.
• Excellent written and oral communication presentation negotiation and political judgment skills with the ability to facilitate community discussions and build relationships with lenders investors public officials and low-income tenants.
• Strong organizational project management research and financial analysis skills including the ability to prepare feasibility analyses narrative reports proposals and standard internal tax credit pro formas.
• Familiarity with architectural and construction practices and demonstrated ability to oversee the design and construction of at least two low-income housing developments in coordination with the Construction Manager.
• Proven ability to lead develop and guide direct reports; train staff; use Microsoft Excel Word PowerPoint and Project; adapt to a fast-moving flexible environment; and support the organizations mission.

P hysical Requirements

• Constantly perform desk-based computer tasks
• Frequently sitting
• Occasionally stand/walk reach/work above shoulders grasp lightly/fine manipulation grasp forcefully use a telephone sort/file paperwork or parts lift/carry/push/pull objects that weigh up to 15pounds
• Rarely twist/bend/stoop/squat kneel/crawl

Pay Range

$193600.00 - $217800.00 Annual Salary - Pay based on applicable experience and qualifications

Benefits and Compensation (see here for full details)

• Health Insurance
• Dental Vision Life & Disability Insurance
• 403(b) Retirement Investment
• Employee Education Reimbursement Program
• Paid Parental Leave
• FSA for Childcare Medical and Commuter Benefits
• EAP Program
• Pet Insurance
• Paid Time Off
• Company Holidays
• Wellness Days

EQUAL OPPORTUNITY EMPLOYER

MidPen Housing Corp. provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race color religion age sex national origin disability status genetics protected veteran status sexual orientation gender identity or expression or any other characteristic protected by federal state or local laws.

We are committed to providing an inclusive and accessible hiring process. If you need a reasonable accommodation for any part of the application or interview process please notify your recruiter. Consistent with its obligations under the law MidPen Housing Corp. will provide reasonable accommodation to any employee with a disability who requires accommodation to perform the essential functions of his or her job.

Required Experience:

Director