Director of Acquisitions (Affordable Housing)

Job Description

Firm Overview

Sunrise Affordable Housing Group (“Sunrise”) is a real estate investment company specializing in acquiring and operating affordable-rate multifamily properties across the United States. We acquire affordable multifamily properties with rent and income restrictions, rental assistance contracts, and other affordability components, complete extensive capital improvements and operate our communities in compliance with local and federal regulations. Our current portfolio includes a mix of affordable properties, designated for both family and senior residents, with a concentration in the Southeast. We are headquartered in Palm Beach, FL.

Job Overview

We are seeking a Director of Acquisitions to join our senior leadership team. Based in New York and reporting to the Partners, the Director of Acquisitions leads Sunrise’s acquisition platform and is responsible for sourcing, underwriting, structuring, and closing affordable multifamily acquisitions. This role owns the investment pipeline from screening deals to closing and handoff to Asset Management, leads the acquisitions team, and serves as Sunrise’s primary point of contact with brokers, sellers, lenders, equity partners, and housing authorities on new transactions. In this role, the Director of Acquisitions will:

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• Lead origination of affordable housing acquisition opportunities through broker networks, owner relationships, housing authorities, and direct off-market outreach.
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• Set acquisition strategy with the Partners, including target markets, deal size, and investment criteria, and grow the pipeline to meet the firm’s annual acquisition goals.
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• Oversee underwriting of all acquisitions, including financial models, capital needs and rehab budgets, and execution strategies across LIHTC, Section 8/HAP, and HUD-insured transactions.
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• Structure and negotiate letters of intent, purchase and sale agreements, and financing and partnership terms with sellers, lenders, and equity partners.
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• Lead transaction execution and due diligence from LOI through closing, managing third-party reports, legal counsel, financing sources, and regulatory approvals from HUD, state housing finance agencies, and housing authorities.
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• Develop the business plan for each acquisition, coordinating with the internal Asset Management and Construction teams through pre-development activities, including selecting architects, general contractors, and property management firms; defining renovation scopes, budgets, and schedules; establishing resident relocation strategies; overseeing capital needs assessments and environmental reviews; and managing permitting and design approvals, so each property is positioned for success at closing.
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• Manage, mentor, and develop the acquisitions team, reviewing work product, ensuring accuracy, and setting standards for underwriting and diligence.
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• Maintain pipeline tracking and provide regular reporting to the Partners on active deals and opportunities.
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• Coordinate the handoff of closed acquisitions to Asset Management and Construction, ensuring business plans, operating budgets, and capital improvement scopes are clearly transitioned.
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• Build and maintain relationships with brokers, lenders, syndicators, housing authorities, and development partners to position Sunrise as a buyer of choice.
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Qualifications

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• 5+ years of experience in affordable housing acquisitions, development, or investment, with a proven track record of sourcing and closing transactions.
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• Deep knowledge of affordable housing programs, including LIHTC, Section 8/HAP contracts, and HUD financing, is required.
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• Advanced Excel financial modeling skills and proficiency with Microsoft Office products are required.
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• Established relationships with brokers, lenders, and equity investors is required.
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• Experience managing and developing junior team members is required.
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• Bachelor’s degree is required.
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