Managing Director of Real Estate

Do you have a passion for strengthening communities by helping low- and moderate-income families to live in a safe and well maintained property? Are you proud of your work in affordable housing? Do you welcome the challenge of working in an urban environment and improving neighborhoods? If so, we want to talk to you!

At our core, New Jersey Community Capital (NJCC) is a community development financial institution with a mission to create thriving communities through strategic investments and knowledge. Fulfilling the needs and improving the quality of life of thousands of individuals and families would not be possible without our talented staff and motivating environment. We are looking for a special person to assist our Community Asset Preservation Corporation (CAPC) subsidiary to oversee the maintenance of its scattered-site residential units throughout New Jersey. NJCC and CAPC embrace diversity and equal opportunity in a serious way. We are dedicated to forming a team that represents a variety of backgrounds, perspectives, and skills. The more inclusive we are, the better our work will be.

Job Functions

Leading affordable, quality housing available to low- and moderate-income families is at the very heart of your role and you will be a key support in assisting to achieve our mission. The Managing Director of Real Estate will manage the acquisition, rehabilitation, sale, and rental of affordable housing units across New Jersey and Florida. Working with the CAPC team and community partners, you will:

• Increase capital for property acquisition and operating funds from a variety of sources, including foundations, investors and grantors, community development non-profits and CDCs, and government entities.

• Develop and establish relationships with lenders and servicers to acquire REO properties and/or defaulted mortgages.

• Negotiate the acquisition and ultimate transfer or sale of REO properties and/or mortgages from lender sand servicers.

• Ensure that investor/funder reports are accurate and timely.

• Develop, implement, and document appropriate policies and procedures to negotiate the acquisition of REO properties/mortgages from lenders/servicers, determine the appropriate action plan and disposition for each property/mortgage, prepare the properties/mortgages for transfer/sale, and negotiate and execute the transfer/sale of property or mortgage to the ultimate developer/owner.

• Provide timely feedback to management and staff informally and through the periodic performance appraisal process.

• Provide professional development opportunities to management and staff.

Qualifications

Candidates should have a demonstrated interest in the field of community development and an enthusiasm towards NJCC’s mission and vision. NJCC will give preference to candidates based on the following qualifications:

• Bachelor degree required; MBA or advanced degree preferred.

• 7 to 10 years of management experience in real estate development particularly, in urban and inner ring suburban areas.

• Knowledge and experience in community development.

• Demonstrated management skills in growing a vertically-integrated real estate business, including business planning, budgeting, staffing, and executing.

• Ability to build a team and work collaboratively.

• Strong communications skills both verbal and written; public speaking experience desired.

• Financial and analytical skills.

• Ability to multi-task.

• Travel required.

Work Location

The position is located at 421 Halsey Street in Newark.

Work Schedule
Business hours run from 8:30 a.m. to 5:00 p.m.

Compensation & Benefits

We offer a competitive nonprofit salary based on experience and skills ($140-$150K/annually), as well as a generous benefits package, including health, dental, disability and life insurance; 401(k) retirement plan after a year of service; flexible spending accounts, including medical, dependent care, and transportation; and 25 paid leave days, including sick and personal plus 12 paid holidays.

Check us out at http://www.capcnj.org & www. newjerseycommunitycapital.org!

Job Type: Full-time

Salary: $140,000.00 to $150,000.00 /year

Experience:

• Real Estate Management: 7 years (Preferred)

Education:

• Bachelor’s (Required)

Work authorization:

• United States (Required)

Required travel:

• 25% (Required)

This Company Describes Its Culture as:

• Detail-oriented — quality and precision-focused
• Outcome-oriented — results-focused with strong performance culture
• People-oriented — supportive and fairness-focused
• Team-oriented — cooperative and collaborative