Development Officer

Full time
Based on Experience
Locationcalifornia Calendar07/09/2019   Full time Based on Experience

Michaels Development Company/The Michaels Organization has a full time position available for a Development Officerin the Los Angeles, CA area.

The Development Officer will use specialized knowledge and skills obtained through a combination of education and experience to assist in the acquisition of new real estate investments and the recapitalization of an existing affordable multi-family rental portfolio; and take on other tasks and projects related to the real estate development processes.

Position Duties & Responsibilities:

  • Review and analyze development and operating budgets and pro formas, financial statements, environmental reports, market studies, appraisals and other third party reports to help determine project feasibility.
  • Compile detailed financing applications for various funding programs such as LIHTC, Tax-exempt Mortgage Revenue Bond, HOME, AHP and similar programs.
  • Research and prepare Transfer and Assumption Applications to conform to United States Department of Agriculture Rural Development Regulations.
  • Perform and coordinate full transaction due diligence and closing functions.
  • Interact with equity, title, lender, legal, construction, property management and third party vendors to ensure timely and efficient closing of transactions.
  • Compile data and prepare New Property Information Forms and Developer Memorandums incorporating all applicable business terms and Development Team descriptions for corporate files; and Project Abstracts for District Office file
  •  Coordinate the formation of new limited partnerships and limited liability companies with legal; obtain associated Resolutions, Employer Identification and DUN’s numbers; and structure purchase and sale agreements.
  • Review and analyze preliminary title reports, project surveys, and local jurisdiction’s entitlement and permitting processes to determine project feasibility.
  • Make presentations to city councils, county boards and project residents; respond to comments and questions as appropriate.

Required Experience: 

Minimum of 2 to 4 years relevant acquisitions/underwriting/financing/closing/active real estate development experience required.

Experience with affordable housing finance and commercial real estate finance a plus.

USDA Rural Housing Experience preferred.

Required Education/Training:

Bachelor’s degree (Real Estate, Finance, Business Administration, Accounting, Economics or Law) or equivalent experience preferred.

Required Skills and Abilities:

  • Self-motivated with an ability to work independently with minimal guidance; and collaboratively in a team environment
  • Must be detailed oriented, able to prioritize, meet tight deadlines, and have an ability to manage multiple projects and deadlines;
  • Strong organizational abilities; and excellent written and verbal skills.
  • Intermediate to Advanced experience in Microsoft Office Programs.

Working Conditions:

Primarily an office environment, however must be able to travel locally or on overnight business trips if required.  Will need to be flexible and work extra hours if needed to meet deadlines. 

Apply at Careers: Development Officer - Los Angeles, CA