VP, Dev Finance MB Res

Vice President of Development Finance
Date Written or Revised: February 7, 2025
Reports to: Chief Development Officer
FLSA Status: Exempt
Location: St. Louis Downtown Office or Remote

Position Overview:

The Vice President of Development Finance will work across various McCormack Baron Resident projects, creating the development's financial structure, managing the financial and legal aspects of the financial closing, and overseeing the conversion process upon project completion and stabilization. The Vice President of Development Finance's role is to maintain a portfolio of active development projects, working closely with the Chief Development Officer and individual Project Managers as each development progresses from conception through closing and stabilization.

Key Responsibilities (Essential Duties and Functions):

This list of duties and responsibilities is not all-inclusive and may expand to include other duties and responsibilities based on business need.

• Work with the Chief Development Officer and Project Managers to establish and maintain project-specific financial models, both internal and external
• Independently or together with Project Manager, prepare and submit various state and federal regulatory filings and applications, including tax credit applications, HUD regulatory filings, supplemental funding applications, etc.
• Participate in as-needed project-specific meetings with investor and lender partners, city/state housing and finance agencies regarding project financing and regularly scheduled closing conference calls.
• Interface with outside legal counsel and financial advisors to negotiate and finalize critical closing documents, including loan documents, partnership agreements, ground leases, subsidy agreements, regulatory agreements, etc.
• Interact with the Project Manager and various departments within the Company to transition the development post-closing, facilitate draws, pre-lease units, stabilize operations, and file necessary regulatory paperwork.

Knowledge, Skills, and Abilities:

• Ability to create and manage multifamily real estate development financial modeling in a variety of structures, including operating proformas, investment analysis, and sensitivity analysis
• Understanding of joint ventures equity partnerships and market rate multifamily capital structures
• Knowledge in IRC Section 42 compliance, including calculating Eligible Basis, Qualified Basis and Applicable Fraction, and critical dates, etc.
• Experience and ability to successfully manage several complex projects at various stages simultaneously
• Significant attention to detail with awareness of impacts to development and Company
• Ability to operate in a matrixed organization, with project-based teams that vary deal to deal
• Ability to set timelines and work to achieve those goals.
• Ability to problem-solve and think critically.
• Facility with relevant software (e.g. MS Excel, Word, Outlook) and internet search tools

Education/Experience:

• Degree in economics, finance or a related field, or significant work-related experience
• 5+ years' experience in real estate transaction environment (developer, investor, lender, etc.) with preferred experience in a variety of multifamily capital structures (e.g. JV equity, bond issuances, tax credits, or Section 8)
• MBA or advanced degree in business, or real estate a plus

Work Environment/Physical Demands:

• This job operates in a clerical office setting. This role routinely utilizes standard office equipment such as computers, phones, photocopiers/printers, and filing cabinets.
• This position requires sitting, bending, stooping, or standing as necessary. Our offices are equipped with electronic desks for standing or sitting.

McCormack Baron is an Equal Opportunity-Affirmative Action Employer, committed to diversity, inclusion, equity and belonging.