Acquisition Associate

Description

Summary:

Catholic Homes New York is dedicated to the belief that having a home is a sacred human right. Operating across 10 New York counties, we oversee a portfolio of approximately 3,000 affordable units and specialize in developing, constructing, and acquiring housing for families, seniors, and supportive populations. We are committed to the long-term stability of our communities by providing self-funded social services and actively growing our portfolio through new construction and strategic acquisitions.

The Acquisition Associate will play a critical role in sourcing, evaluating, and executing mission-aligned real estate transactions. You will work directly with the CEO and Senior Development Team to build financial models, lead due diligence workflows, and structure partnerships.

• Financial Modeling & Underwriting:
  • Build and maintain complex acquisition pro formas including development budgets, operating expenses, and cash flow projections.
  • Model scenarios for various financing structures, including Low Income Housing Tax Credits (LIHTC), Tax-Exempt Bonds, HPD/HDC term sheets, the HUD 202 program, rent stabilization, and Federal, State, and City tenants' subsidies.
  • Prepare investment memos that succinctly summarize risks, mitigants, financial returns, and mission fit for the Catholic Homes Board.
• Deal Sourcing & Pre-Development:
  • Evaluate existing buildings for acquisition and perform initial analysis.
  • Maintain a pipeline of off‑market opportunities through relationships with brokers, property owners, parishes, and community partners.
  • Conduct market research, including sales comps, neighborhood rent comps, operating expense analysis, and demographic trends.
• Due Diligence & Closing:
  • Manage the due diligence checklist, coordinating with third‑party vendors and legal counsel.
  • Assist in the preparation of financing applications for public agencies (HUD, HPD, HFA, HDC).
  • Track critical dates, covenants, and contingencies to ensure timely closings.
• Collaboration:
  • Act as a bridge between the Development, Asset Management, Social Services providers, and Property Management teams to ensure underwriting assumptions align with operational realities.
  • Engage with residents and local communities to guide property improvements and services, ensuring they genuinely address the needs and priorities of those we serve.

• Required:
  • Bachelor’s degree in Real Estate, Finance, Urban Planning, or a related field.
  • Ability to build dynamic financial models from scratch.
  • Understanding of real estate finance fundamentals.
  • Strong written and verbal communication skills.
  • Ability to operate independently in a fast‑paced environment with limited supervision
  • Commitment to the mission of providing high-quality housing for low-income New Yorkers.
• Preferred:
  • 3‑5 years of experience in affordable housing development or real estate finance.
  • Familiarity with NYC specific agencies and regulatory agreements.

• Salary Range: This position offers a salary range of $95,000 to $110,000, with the final offer determined based on the candidate’s experience and relevant expertise.
• Benefits: Comprehensive benefits package through Catholic Charities, including health, dental, and vision.
• Vacation: 4 weeks of paid vacation annually, plus holidays.

Catholic Homes is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees.