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Affordable Housing Development
Executive Vice President

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KM Partners has been retained in the search for an Executive Vice President of Affordable Housing development by a leading US Multifamily Real Estate Investment Management and Operating Company. Through institutional advisors, pension funds, and private equity investors, this vertically integrated company acquires, manages, finances, and repositions apartment projects across the United States.
After launching their 7th fund, the company is currently making investments with discretionary capital as well as through JVs with institutional investors. With unrestricted access to capital and well-established credit lines, this rapidly growing organization is seeking to continue to expand its focus on Affordable Housing and Low-Income Housing Tax Credits.
Join a highly entrepreneurial team, with strong institutional finance and real estate backgrounds focused on multifamily real estate and subordinate CMBS debt. By doing all their underwriting upfront and often sending a capital project team into the field before making offers, they have built a reputation for being a “closer”.


After growing the Affordable Housing platform to 8 team members and 9 new developments in only 2 years, this COO is accelerating growth and is interested in finding a right-hand who will continue to propel the team’s success.


Their senior management team has been making investments for the past 40 years with experience owning and operating more than 120,000 apartment units in more than 40 of the top 50 largest MSAs.
The CEO has extensive experience raising, investing, and managing capital as a fiduciary for investors in public and private securities offerings and for more than 30 public pension funds, including CALPERS and CALSTRS. With experience buying more than $10 billion of subordinate CMBS debt, the team thrives in complex situations and actively seeks new investment opportunities in all positions of the capital structure.


  • Collaborate with the executive management team to drive the vision and operational strategies that align with short-term and long-term company objectives.
  • Work in conjunction with the executive management team to improve the company’s operations with the refinement and implementation of effective systems and processes.
  • Take final accountability for the on-time and on-budget closing of the company’s funded development pipeline.
  • Manage and lead the development team (Direct Reports - VP's of Development, Development Managers, and Development Associates) through the complete development process including design, entitlements, financial underwriting, closing coordination, and debt conversion.
  • Foresee and diagnose problems quickly to limit and mitigate potential negative implications on the project and Company’s bottom line. 
  • Execute measured and strategic decisions making to ensure principals and companies are protected from risk to the greatest extent possible in the ordinary course of business.
  • Develop project budgets, plans and specifications, and critical path timelines covering all design, entitlements, underwriting, finance, construction, and legal tasks through closing with project teams.
  • Guide the project development teams through the full development process helping to identify future issues and address challenges as they arise on each project.
  • Review and negotiate major contracts including Purchase and Sale Agreements, Ground Leases, JV Partnership MOUs, and Operating agreements, GC contracts, and Architect & Engineering proposals. 
  • Review and negotiate lender and investor term sheets, project loan documents, and investor/syndicator partnership agreements with the executive management team.
  • Identify and secure soft sources of financing, development incentives, and other resources to optimize development financing.
  • Establish and maintain rapport with local governments and non-profits in the company’s active markets.
  • Prepare clear and concise reporting on the performance and productivity of the projects and development team staff.


  • 10+ years of experience in LIHTC leadership positions; experience in Florida and Texas is a plus, but open and flexible for the right professional
  • Demonstrated track record of successfully developing LIHTC assets from feasibility through construction completion.
  • Experience managing multiple individuals and teams in a fast-paced and evolving environment.
  • Strong communication and presentation skills and ability to communicate with employees at all levels of the company, particularly executive-level management.
  • Thorough knowledge and understanding of Section 42 of the IRC (accounting principles), multifamily development process, real estate finance, and governing transaction and corporate laws and regulations.
  • Demonstrates a high level of personal accountability.

KM Partners’ national Executive Search and Professional Recruitment practice areas focus on high-growth, impact-investment-oriented businesses across relevant industries, including Investment Management, Real Estate, Clean Energy, Sustainable Infrastructure, and related Business and Professional Services. With a core focus in Tax Credits (LIHTC, NMTC, Historic, & Renewable), Multifamily, Affordable and Senior Housing, we partner with clients and place industry-specific professionals throughout the United States. At KM, we have established an unparalleled track record of repeat business and success recruiting in niche practice areas, including 140+ placements in Affordable Housing, which have led to 50+ promotions to date. We represent C-level Executive Leadership, Middle Management, and experienced Associates across industry professions.

If qualified, please contact:
Morgan McCormick | Senior Director
303.495.3156 |

Job # 132