Job Description

About the Company

Bullpen, on behalf of our client, is looking for a Financial Analyst to support the sourcing, underwriting, and execution of affordable and workforce housing. In this role, you will analyze acquisition/rehabilitation opportunities, HAP Contract and GP Interest Acquisition opportunities ensuring financial feasibility and alignment with our company’s growth strategy. Your responsibilities will include financial modeling, market research, due diligence, and assisting in securing funding and approvals. Your work will play a critical role in expanding access to high-quality, affordable housing. Reporting to the Senior Acquisitions Associate, you will be an integral part of our team, helping to grow a successful pipeline of affordable and workforce projects.

Responsibilities:

Financial Analysis & Underwriting

• Conduct detailed underwriting of 4% and 9% LIHTC projects, including new development and acquisition/rehabilitation opportunities, GP Interest, HAP Contract and workforce housing deals.
• Develop and maintain complex financial models to evaluate project feasibility, returns, and risk factors.
• Analyze proformas, budgets, tax credit equity pricing, and financing structures (debt/equity).
• Assess market conditions, rental trends, and operating expenses to ensure project viability.

Due Diligence & Risk Assessment

• Perform financial and risk due diligence on potential acquisitions and development projects.
• Evaluate funding sources, including tax credits, bonds, soft loans, and grants.
• Work closely with lenders, investors, and syndicators to support financing efforts.
• Review legal documents, appraisals, and third-party reports to identify potential risks.

Deal Structuring & Execution

• Assist in structuring capital stacks, ensuring alignment with LIHTC program requirements.
• Support the closing process, including preparing investment memos and coordinating documentation.

Collaboration & Reporting

• Work cross-functionally with development, asset management, and finance teams.
• Prepare financial reports, investor presentations, and internal underwriting summaries.
• Stay updated on LIHTC regulations, tax policies, and market trends impacting affordable housing.

Qualifications & Required Skills

• Bachelor’s degree in Finance, Accounting, Economics, or a related field (Master’s in Real Estate Development or CFA is a plus)
• 1-3 years of experience in financial analysis, with a preference for experience in affordable housing, real estate, or community development
• Proficiency in financial modeling, budgeting, and forecasting techniques
• Familiarity with affordable housing financing programs (e.g., LIHTC, HOME, HUD)
• Strong understanding of financial statements, tax credits, and other regulatory compliance requirements for affordable housing
• Experience with financial software such as Excel (advanced level), Argus, or other real estate analysis tools
• Strong analytical skills with attention to detail and accuracy
• Excellent communication skills, both written and verbal
• Ability to work independently and collaboratively in a fast-paced environment

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