Associate, Project Management Post Closing

A Brief Overview

HCP has adopted a Project Management based system with the Project Management - Post-Closing Team taking the lead on developments from the time of the initial closing through the closing of the permanent loan. The Associate will be responsible for overseeing developments during the construction and lease up periods through closing of the permanent loan, reviewing monthly construction draws, coordinating equity disbursements, completing reporting tasks to HCP and its investors, facilitating consent requests, evaluating/managing risks and other issues throughout the course of construction and lease up, and overseeing closing of the permanent financing. With guidance and supervision from the Director, the Associate will take the lead working with the development team and HCP's Development Risk Management, Asset Management, Funds Management, Underwriting, Compliance and Investor Relations departments to oversee projects through conversion to permanent financing.

What you will do

• Manages project forecast models through permanent conversion, with a focus on monitoring equity adjusters, identifying, evaluating and mitigating potential imbalances to project sources and uses, and managing the investor's yield as well as HCP's profitability.
• Works with outside counsel to complete the review and negotiation of any project documents and permanent financing documents that were not negotiated and executed prior to the initial financial closing.
• Manages the syndication of projects that HCP warehouses for a period of time after lower-tier partnership closing. Works with HCP's Investor Relations department and the upper-tier fund investor(s) to timely submit all due diligence required for syndication, responds to investor questions, and facilitates investor credit approvals.
• Coordinates activities of other HCP departments towards successful construction completion, lease up and conversion to permanent financing of projects. Works with in-house Development Risk Management, Underwriting, Investor Relations and Funds Management departments, as well as outside counsel to address consent requests and any resulting modifications to the Limited Partnership Agreement or other project documents, as needed.
• Oversees project during construction period, coordinating with HCP's Development Risk Management department and the development team to identify and mitigate construction issues to ensure adherence to schedule, budget, and construction quality. Approves monthly construction draws, as applicable.
• Works with HCP's Asset Management and Compliance staff, as well as property management and the development team, to identify and resolve issues that arise during lease-up and HCP's audit of first year tenant files, to mitigate adjusters, keep project sources in uses in balance, and ensure the expected tax benefits flow to the investor as forecasted.
• Provides quarterly reports and risk ratings for each assigned project, beginning at closing and continuing until conversion to permanent financing. Provides additional monthly internal reporting and responses to investor questions as requested.
• Coordinates, approves and disburses equity contributions pursuant to the project's Limited Partnership Agreement, including the collection and review of all required equity installment funding conditions, through the final installment due upon receipt of 8609s.
• Works with HCP's Asset Management department to facilitate approval of Rental Achievement and coordinates permanent loan conversion with the development team and project lenders.

Qualifications

• Bachelor's Degree A bachelor's degree in accounting, finance, economics, mathematics, urban planning, real estate development or equivalent. Required
• At least 2-3 years of related work experience in real estate finance, with at least 2 years of experience in the low-income housing tax credit industry. Required
• Knowledge of key aspects of finance and accounting, including an understanding of general accounting principles, partnership accounting and tax allocations and loan structuring.
• Experience with the escrow process and understanding of title and survey issues.
• Knowledge of key aspects of real estate development, land use and entitlement, property due diligence and acquisition, and site planning and design preferred.
• Ability to initiate and maintain effective and cooperative working relationships with team members, government agencies, consultants, lenders, investors, and developers.
• Strong analytical and problems solving skills; ability to identify and resolve issues.
• Good client and public presentation skills; excellent oral and written communication skills.
• Exceptional organizational skills, highly attentive to detail and able to perform tasks with limited supervision in a time sensitive work environment.
• Exercise sound judgment and fairness in decision-making.
• Maintain the strictest confidence when handling confidential and non-routine information and matters.
• Communicate with co-workers, management, clients, and others in a courteous and professional manner.
• Conform with and abide by all regulations, policies, work procedures, and instructions.
• Computer literacy and experience working with Microsoft Office software programs and Adobe.
• High level of proficiency with Microsoft Excel

Compensation

We are committed to offering competitive and equitable compensation. The hiring range for this position is generally between $85,000.00 - $90,000.00, exclusive of fringe benefits or potential bonuses. This position is also eligible for a performance bonus. Final salaries will be determined based on factors such as geographic location, skills, education, licenses, certifications, and/or experience. In addition to these factors - we believe in the importance of pay equity. Please keep in mind that the range mentioned above is the general Hiring Range for the role. Hiring at the top of the range is reserved for exceptionally qualified candidates. We consider internal and external factors as a part of every final offer. We also offer a generous total compensation and benefits package.

Benefits

A competitive salary is only one part of your total rewards. We also offer a comprehensive benefits package, including paid time off, medical, dental, life and disability insurance, HSA/FSA accounts, retirement, rewards programs, and so much more!

You must be able to pass a drug, background screen and physical abilities test/motor vehicle record check (if one is required per the position).

EEO/ADA
The Company and its affiliates provides equal employment opportunity to all individuals regardless of their race, color, creed, religion, gender, age, sexual orientation, national origin, disability, veteran status, or any other characteristic protected by state, federal, or local law. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.

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