Closing Manager - Paralegal

The Closing Manager works closely with Midwest Housing Equity Group, Inc.’s (“MHEG”) Acquisitions Managers to close equity investments in multifamily residential real estate developments (“Operating Partnerships”) financed with federal Low Income Housing Tax Credits (“LIHTC”). This person leads the due diligence collection/review process and keeps our investments on track for timely closing. The Closing Manager also plays a critical role developing and maintaining MHEG’s relationships with our developer partners. Job Duties and Responsibilities • Lead the coordination/execution of MHEG’s Operating Partnership Due Diligence Process. • Utilize virtual data room system for timely creation, uploading and maintaining of closing file and all appropriate documents. • Administer access to virtual data room system for Operating Partnership counterparties. • Prepare Due Diligence Checklist for all assigned Operating Partnerships; coordinate with Acquisitions Manager regarding requirements of same. • Schedule and lead due diligence conference calls with Operating Partnership counterparties. This involves going through each line item on the Due Diligence Checklist so all parties have a clear understanding of the required due diligence, terms of the investment, and a projected time-frame for closing. • Lead the receipt, review and distribution of all due diligence to Acquisition Manager, legal counsel and accountants as necessary. Follow-up with counterparties if items are inaccurate or incomplete. Follow-up with Acquisition Managers when terms do not match underwriting. • Keep Due Diligence Checklists up-to-date and send to counterparties every week to 10 days to keep the project moving towards closing. Correspond with Vice President of Acquisitions, AVPA, and Acquisition Managers regarding follow-up of due diligence (i.e., what is outstanding, incomplete or inaccurate). • Coordinate the review and approval of all third party reports (e.g., Market Study, Phase I ESA, Appraisals, Plans & Specs, etc). • Coordinate with the Closing/Risk Manager the review and approval of required insurance coverages. • Coordinate the review and approval of all required background checks, including credit scores, litigation searches, Fannie Mae A-Check and OFAC reviews. • Coordinate with Closing Manager - Real Estate regarding the review and approval of all real estate matters, including zoning, title and survey items. • Schedule and moderate Tech Review Committee meetings and correspond with counterparties regarding the discussions and any further due diligence requests. • Receive and distribute equity documents for signature by all parties utilizing DocuSign or pdf signatures. • Receive and review closing documents for accuracy and signatures, scan and email pdfs of executed closing documents to all parties involved. Prepare closing file. • Proactively manage delivery of post-closing items from counterparties. • For Operating Partnership investments closed in escrow, ensure all escrowed due diligence items are received within required timelines. • Lead “construction completion” funding process. Compose completion letter to be sent to counterparties 60 days prior to completion. Routinely follow-up with counterparties until all items are received and we are in a position to advance equity. Coordinate with Accounting, Asset Management and Construction Management regarding conditions precedent to equity funding. Task and follow-up on any miscellaneous items. • Prepare and distribute monthly status report of projects that have closed equity but not yet funded the construction completion equity payment. • Together with Vice President – Acquisitions, update and maintain Due Diligence Guidelines and model Due Diligence Checklist. • Provide Notary services for company documents. • Develop and maintain relationships with developers/general partners, accountants, third-party consultants, lawyers, government officials and others to ensure the timely flow of information and resolution of open issues. • Attend industry conferences as requested by AVPA. • Attend ground-breaking ceremonies, ribbon cuttings and open houses. • Such other duties as may be assigned from time to time. Knowledge, Skill, Licenses, Competency Requirements • Basic understanding of real estate investment due diligence processes. • Attention to detail and accuracy a must. • Excellent verbal and written communication skills. • Ability to work independently as well as in a team setting. • Strong organizational skills; ability to prioritize and handle multiple tasks at any given time. • Must possess and maintain valid Driver’s License. • Paralegal certificate and certification, Bachelor’s Degree in business administration or a relevant field, or equivalent professional experience. • 1-2 years prior experience with real estate transactions (debt or equity) a plus. • Notary Designation required. If not a Notary then applicant will obtain Notary Designation once employed. • Working knowledge of Microsoft Office, Adobe and virtual data rooms. • Knowledge of cloud-based file sharing systems a plus. Apply Job!