Job Details

SCI, the Leader in Real Estate Executive Search, is proud to partner with one of the largest multifamily developers in the Las Vegas region to recruit a Senior Associate specializing in Affordable Housing. Our client has been developing apartments for the last 30 years and features over ten thousand units of market rate and affordable housing.

This role is a critical part of the development team, responsible for underwriting new LIHTC developments, supporting transaction closings, and monitoring projects throughout construction and lease-up. Reporting to the Director, the Senior Associate will gain exposure to the full lifecycle of affordable housing development—from land acquisition through stabilization.

Key Responsibilities

Financial Analysis & Underwriting

• Build and maintain robust pro forma financial models for LIHTC developments, incorporating debt, equity, layered financing, and tax credit structures.
• Underwrite acquisition and development opportunities, evaluating feasibility, operating assumptions, and financial sustainability.
• Perform sensitivity analyses and scenario modeling to assess risk, credit pricing, and investor returns.
• Prepare financial packages and analytics to support negotiations with lenders, equity providers, and other capital partners.

Advanced LIHTC Responsibilities

• Model Year 15 outcomes including exit strategies, partnership buyouts, and asset disposition alternatives.
• Calculate credit delivery schedules, timing adjusters, and equity contributions tied to construction benchmarks and placed-in-service deadlines.
• Assist in analyzing and documenting 25% test compliance for bond-financed transactions.
• Support preparation and submission of IRS Form 8609s, ensuring accuracy in eligible basis and final cost certifications.
• Track construction loan paydowns and monitor equity installment schedules aligned with project milestones.
• Assist in permanent loan conversion processes, coordinating with lenders, attorneys, and internal teams.

Transaction Structuring & Due Diligence

• Prepare and review due diligence materials including forecasts, budgets, and financial analyses for investors and lenders.
• Review and provide comments on legal documents associated with transactions.
• Compare current deals to historical projects to inform underwriting and deal structuring.
• Collaborate with legal, accounting, and compliance teams to ensure accurate documentation and program compliance.

Development Support

• Partner with senior leaders across acquisition, financing, construction, lease-up, and stabilization phases.
• Track project performance against budgets, schedules, and funding requirements.
• Prepare presentations and reports for investment committees, lenders, and housing finance agencies.

Market & Policy Analysis

• Conduct market research to support site selection, rent assumptions, and competitive positioning.
• Stay current on LIHTC regulations, IRS compliance, state housing finance agency programs, and HUD policy changes.
• Monitor trends affecting tax credit pricing, interest rates, and affordable housing demand.

Key Requirements

• Experience in affordable housing development, financial analysis, or LIHTC-focused real estate finance.
• Bachelor's degree in finance, business, real estate, urban planning, or a related field preferred (not required).
• Strong Excel skills with the ability to build and interpret complex financial models independently.
• Excellent analytical, organizational, communication, and time-management skills.
• Self-starter with the ability to manage multiple projects and deadlines in a fast-paced environment.