Aligning Single Letters Above Each Other

Hey everyone,

Brand new to illustrator so still learning all the ropes. Making the switch over from photoshop since I think in my line of work Illustrator would be a better skill in the long run. 

In short I'm trying to make it so that only one letter is centered and aligned above another letter as seen below. 

Each line of text is in a seperate text box. I basically just increased the spacing between lines within the textboxes, put then in seperate layers, and then aligned them so that the letters seemed like they are right above one another. I was able to achieve the above by manipulating kerning and inserting spaces where appropriate to realign the letters. However, this takes a long time and it is not perfect. Is there some way to achieve the effect I want with Illustrator? If you need clarification let me know.  Thank you!