Director, Acquisitions (Contour Housing Partners) - Pennrose

Contour Housing Partners (“Contour”) is a housing preservation firm focused on shaping the housing landscape of America through strategic investments in communities of need by raising and deploying mission-driven capital to preserve quality affordable housing.

Contour was formalized in 2022 by the leaders of Pennrose, LLC, a nationally recognized, vertically integrated owner-operator and developer of multifamily housing. The Contour platform exists synergistically within the context of this broader enterprise to create value and leverage Pennrose’s depth of experience and the capabilities of its various business units, including development, property management (PMC), and fund management.

The primary responsibility for the Director, Acquisitions is to oversee the strategic identification, financial structuring and underwriting, management of due diligence, and closing on multifamily investment opportunities in collaboration with Contour’s leadership, analysts, and the firm’s affiliates (e.g., Pennrose Management Company).

This position provides the opportunity to work in a fast-paced, entrepreneurial environment alongside executive leadership to drive decisions, advance housing policies, and help to improve the lives of households across the country.

This role is located in Contour’s New York office and reports to the President of Acquistions.

Pay range: $135,000 - $175,000 + bonus potential.

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• Identify multifamily affordable investment opportunities by interfacing with the brokerage community, the Director’s own well-developed network, and Contour’s principals directly.
• Management of the acquisition process from identification through closing and stabilization of the predetermined investment program.
• Responsible for financial modeling completeness and accuracy, working with Vice Presidents, Associates and Analysts to ensure underwriting is thorough, conforms to company investment metrics, and is adequately supported by pertinent research (e.g., rent and sale comps, submarkets, demographics, physical characteristics, and other pertinent information available internally and externally).
• In conjunction with Pennrose’s asset management team, create and review capital budgets and business plans.
• Coordinate with third party property managers and other sources to help fully define and vet investment opportunities.
• Being the focal point of the due diligence process, including gathering and analyzing due diligence materials and coordinating third party reports. This includes verifying property details, market analyses, title/survey, rent comps, as well as causing property inspections, unit walks, lease file audits, and maintenance audits.
• Working with senior management, including Pennrose’s Capital Markets leadership, to identify optimal debt and equity strategies, including completion of applications and documentation necessary for financing.
• Coordination with external legal counsel on perfection of site control, government subsidy contracts, third party contracts, renewal.
• Oversight of performance of investments post-closing.
• Management of the acquisitions pipeline by maintaining an accurate asset database.
• Obtain, organize, and maintain accurate transactional diligence across all stages of investments.
• Perform as project leader and communicator in many situations where working across all areas of the broader Pennrose enterprise is required; brings groups of people together for a common purpose of optimizing either our operations or our future investments.
• To make substantial contributions to analysis that will inform the firm’s investment strategy, criteria and decisions.
• Familiarity with private investor capital legal structures and accounting treatment, as well as with institutional joint-venture structures and processes.
• Exceptional written and verbal communication skills.
• Maintains awareness of socio-economic, political, and market-level dynamics and operational trends to inform investment activity.
• Possess ability to synthesize information into meaningful conclusions and recommendations.
• Maintain accurate investment schedules.
• Quickly and independently verify that transactions are consistent with investment criteria.

• Minimum 7 years of experience in either an investment bank, investment sales group, private equity firm, CRE lender or investor, or commercial real estate company.
• Undergraduate degree required. Advanced degree in buisness administration, real estate finance, accounting, or law, is preferred.
• Expertise in Excel-based financial modeling, including composing multi-tier water fall structures.
• LIHTC and Section 8 experience required.
• Strong command of multifamily real estate operating structures.
• Thorough comprehension of real estate finance, including DCF, NPV, IRR, cap rates, interest rates, and tax treatments.
• Commitment to mission-centric community development.
• Ability to independently operate and self-motivate to problem solve.
• Strong project management and verbal communication skills.