Investment Associate – Affordable Housing

Background

ABOUT RAZA DEVELOPMENT FUND (RDF)

RDF is the largest national, Latino-focused nonprofit Community Development Financial Institution (CDFI). Driven by a mission to close wealth and opportunity gaps in Latino and other under-resourced communities across the United States, RDF provides responsible and attainable financial solutions to community-based organizations focused on health, education, affordable housing, climate resilience, homeownership, and entrepreneurship. 

RDF was founded in 1999 as a support organization to UnidosUS, the nation’s largest Hispanic civil rights and advocacy nonprofit, formerly known as the National Council of La Raza. As a testament to its exceptional financial strength and impact, RDF stands out as one of the few CDFIs with a prestigious AA- S&P rating. Since its inception, RDF has invested more than $1.5 billion across 38 states and Puerto Rico, leveraging over $6 billion in additional capital. 

Summary

Reporting to the Senior Director of Affordable Housing, this position is responsible for providing community development underwriting support to the Affordable Housing investment team.  The Investment Associate will custom-tailor financing solutions for complex structured transactions that involve public/private partnerships, traditional debt, grant capital, and/or tax credit financing.  In this role, you will work directly with borrowers, vet investment opportunities, provide technical assistance, conduct due diligence and financial analyses, draft credit memoranda, defend recommendations to credit committees(s), and coordinate the documentation and closing of secured and unsecured credit products for clients in the assigned industry.

Responsibilities

In this role, you will be expected to:

• Adhere to RDF’s core values, including a commitment to work in economic development endeavors that support vibrant and diverse neighborhoods by providing loans, investments and services for under resourced communities and low- and moderate-income households nationwide.
• Develop and defend investment credit requests by screening and underwriting financing applications, including analyzing community impact, historical and projected financial performance, management capacity, the feasibility of budgeted financing sources, and conducting prospect site inspection visits; present financing requests for approval and manage closing process.
• Actively manage and monitor a portfolio of multifamily and affordable housing investments and provide deep, ongoing technical assistance to new and existing client relationships.
• Serve as a trusted advisor throughout the life cycle of the relationship. RDF’s clients include For-profit and Not-for-profit developers, Government entities engaged in housing and economic development: and community-based organizations.  Provide high-value technical assistance services, when necessary.
• Seek out and participate in commercial real estate and community development industry groups, membership organizations and relevant conferences and events.
• Collaborate with the loan operations team to maintain awareness of construction progress, appropriateness of draw requests, adequacy of debt and equity sources, time delays, cost overruns, usage of contingency funds and compliance with legal documents. Complete post-closing follow-up activities, and collect all applicable reporting requirements, as necessary.
• Attend client ground breakings, ribbon cuttings, fundraisers; and represent RDF at those events, as necessary.
• Collaborate with other industry specific teams on financing opportunities, as necessary.
• Perform other tasks, as assigned.

Requirements

QUALIFICATIONS / EXPERIENCE

• • 2-5 years of experience structuring, underwriting, closing, and administering commercial real estate predevelopment, acquisition and construction loans for affordable multifamily housing.

• • Preferred: Working in the Southeast or Midwest U.S.

Compensation and Benefits

Commiserate with experience

How to Apply

Interested candidates must send cover letter (*required) and resume to: [email protected] .

In the subject line of the email, candidates must specify title of position the application is in reference to.