TIAA
Associate, Affordable Housing Acquisitions
Pay $98,900 / year
Employment type Full-Time
Job Description Req#: R250900359
This Associate will report to the Head of Impact Investing and will support a lead transaction officer in evaluating and executing on affordable housing (emphasis on LIHTC, PBS8, and self-restricted workforce deals) real estate transactions. They will be focused on numerous geographies across the U.S. This position will support transaction officers on both acquisitions and dispositions to include financial modeling, research and analysis, creating the investment memorandums, and communication with both internal and external stakeholders. The affordable acquisitions will primarily be on a direct basis, but some clients will utilize joint ventures to access specific deals and markets. This position will work independently under general supervision.
Key Responsibilities and Duties
Independently analyzes and underwrites and assists with bidding, due diligence, and the closing of affordable housing preservation real estate investments which fit the business plans of affiliated and third-party clients across numerous U.S. markets. Approximately 75% of the transactions will be Capital A affordable investments including expiring LIHTC and PBS8 opportunities.
Evaluates affordable investments and investment returns based on discounted cash flows, return on cost, development spreads and third‑party leverage.
Form and/or strengthen internal relationships with asset management counterparts to successfully transition new affordable acquisitions and help position assets for sale.
Develop external relationships with key market participants, including the affordable brokerage community, owners, and lenders.
Coordinates and oversees the due diligence process for acquisitions
Knowledgeable of client’s investment strategies and works with transaction officers to execute the investment strategy.
Drafts investment memorandums for internal committees to include the Senior Leadership Team and Investment Committee.
Educational Requirements
University (Degree) Preferred
Work Experience
2+ Years Required; 3+ Years Preferred
Physical Requirements
Sedentary Work
Career Level
6IC
Required Qualifications
2+ years of commercial real estate (CRE) experience
Preferred Qualifications
3+ years of commercial real estate (CRE) experience
BA or BS
Affordable housing experience
Financial modeling experience in Excel
Knowledge of commercial real estate, economics, finance, valuation, financing, accounting, and legal structures.
Demonstrated ability to operate independently. Strong written skills that are directed to internal and external clients.
Ability to operate in a fast‑paced team environment and manage deadlines.
Related Skills
Business Development, Due Diligence, Financial Analysis, Market/Industry Dynamics, Opportunity Strategy, Organizational Savviness, Real Estate Investments, Underwriting
Anticipated Posting End Date: 2025-10-24
Base Pay Range: $98,900/yr - $121,000/yr
Equal Opportunity: We are an Equal Opportunity Employer. TIAA does not discriminate against any candidate or employee on the basis of age, race, color, national origin, sex, religion, veteran status, disability, sexual orientation, gender identity, or any other legally protected status.
Our full EEO & Non-Discrimination statement is on our careers home page, and you can read more about your rights and view government notices here.
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Employment type Full-Time
Job Description Req#: R250900359
This Associate will report to the Head of Impact Investing and will support a lead transaction officer in evaluating and executing on affordable housing (emphasis on LIHTC, PBS8, and self-restricted workforce deals) real estate transactions. They will be focused on numerous geographies across the U.S. This position will support transaction officers on both acquisitions and dispositions to include financial modeling, research and analysis, creating the investment memorandums, and communication with both internal and external stakeholders. The affordable acquisitions will primarily be on a direct basis, but some clients will utilize joint ventures to access specific deals and markets. This position will work independently under general supervision.
Key Responsibilities and Duties
Independently analyzes and underwrites and assists with bidding, due diligence, and the closing of affordable housing preservation real estate investments which fit the business plans of affiliated and third-party clients across numerous U.S. markets. Approximately 75% of the transactions will be Capital A affordable investments including expiring LIHTC and PBS8 opportunities.
Evaluates affordable investments and investment returns based on discounted cash flows, return on cost, development spreads and third‑party leverage.
Form and/or strengthen internal relationships with asset management counterparts to successfully transition new affordable acquisitions and help position assets for sale.
Develop external relationships with key market participants, including the affordable brokerage community, owners, and lenders.
Coordinates and oversees the due diligence process for acquisitions
Knowledgeable of client’s investment strategies and works with transaction officers to execute the investment strategy.
Drafts investment memorandums for internal committees to include the Senior Leadership Team and Investment Committee.
Educational Requirements
University (Degree) Preferred
Work Experience
2+ Years Required; 3+ Years Preferred
Physical Requirements
Sedentary Work
Career Level
6IC
Required Qualifications
2+ years of commercial real estate (CRE) experience
Preferred Qualifications
3+ years of commercial real estate (CRE) experience
BA or BS
Affordable housing experience
Financial modeling experience in Excel
Knowledge of commercial real estate, economics, finance, valuation, financing, accounting, and legal structures.
Demonstrated ability to operate independently. Strong written skills that are directed to internal and external clients.
Ability to operate in a fast‑paced team environment and manage deadlines.
Related Skills
Business Development, Due Diligence, Financial Analysis, Market/Industry Dynamics, Opportunity Strategy, Organizational Savviness, Real Estate Investments, Underwriting
Anticipated Posting End Date: 2025-10-24
Base Pay Range: $98,900/yr - $121,000/yr
Equal Opportunity: We are an Equal Opportunity Employer. TIAA does not discriminate against any candidate or employee on the basis of age, race, color, national origin, sex, religion, veteran status, disability, sexual orientation, gender identity, or any other legally protected status.
Our full EEO & Non-Discrimination statement is on our careers home page, and you can read more about your rights and view government notices here.
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