Investment Associate

We are seeking an enthusiastic and detail-oriented Investment Associate to join our team. This role reports to the Senior Manager of Investments within an Investment Management team of approximately seven professionals. In this role, you will provide crucial support and assistance on multiple projects simultaneously and must be able to work in a fast-paced, multiple-responsibility environment, balancing competing priorities and several project assignments. This role also offers a clear path for growth into senior investment roles within the firm.

The Investment Associate will be responsible for supporting overall investment oversight of projects from acquisition to transition into the stabilized portfolio or disposition. Project responsibilities include helping shepherd projects through investment committees, both internal and external, including collection and review of due diligence and creation of acquisition memos, business plans, and financial analysis. The Investment Associate will also support financial closings for both affordable and market-rate transactions, spanning debt and equity capital. During construction for an assigned project, job roles will include updating financial pro forma quarterly, helping development teams adhere to business plan goals, gaining approval from investors and other funders for business plan changes, transitioning projects to asset management, and dispositions when appropriate. Occasional travel to project sites and closings is required.


Duties & Responsibilities

1. Leads financial analysis of real estate investment opportunities (new and existing).
2. Intermediate financial underwriting - compile, update and maintain project financial proformas in existing Excel templates and new/modified forms when necessary.
3. Conducts, reviews, and analyzes relevant research and data gathering including comps, market trends, trades, capital markets, etc. using internal and 3rd party sources.
4. Supports development of project financial strategy, risks and mitigation capital structuring, term sheet and document negotiation.
5. Stays abreast of local, regional, and national real estate market trends and macro-economic conditions and understands impacts to assigned projects.
6. Oversee and interpret the tracking of project capital expenditures, revenue, and expenses and updates proforma and cashflow (with input from business office) and compares actuals to forecast. Identifies and leads correction of errors.
7. Coordinates contracts and leads due diligence efforts including document, file management, and review of 3rd party reports.
8. Analyze commercial leases, compile summaries and NPV analysis. Supports broker selection and lease term sheet negotiation.
9. Supports development of the investment thesis and preparation of materials for internal and external investment and loan committees.
10. Manage lender/investor due diligence - compile and deliver all lender/investor required documents.
11. Participate in closing calls and maintain meeting minutes and closing checklists.
12. Prepares and presents regular investor and lender reporting.
13. Develops industry and capital partner relationships.
14. Mentor Analysts.
15. Perform all responsibilities of Analyst/Senior Analyst when necessary.

Competencies

1. Intermediate or higher understanding of real estate terminology & concepts: operating expenses (OpEx), asset classes, finance, acquisitions, and investment returns (ROC, IRR, etc.)
2. Basic level knowledge of real estate development terminology & concepts: architecture and engineering, permitting, land-use and regulatory, construction.
3. Basic level project and schedule management skills (CPM, MS Project, etc.).
4. Intermediate or higher financial modeling and MS Excel skills including ability to modify or create new templates.
5. Developing subject matter expertise for one or more specialties - development, existing assets, repositioning, commercial/retail leasing, entitlements, affordable housing (e.g. LIHTC) alternative financing sources (e.g. NMTC, HTC, PACE, etc.).
6. Developing risk management skills - understanding of how to identify, track, and report project risks.
7. Developing ability to make "owner" decisions - sound judgment, logic, reasoning and ability to communicate rationale.
8. Proven research skills, including data compilation/organization and presentation,
9. Effective time management and task prioritization; resourceful, proactive, and persistent in problem-solving.
10. Demonstrated ability to work through ambiguous situations.
11. Track record of identifying improvement opportunities.
12. Team player - provides excellent internal and external customer service; strong collaborator, demonstrating interdepartmental cooperation to achieve Firm goals & mission.
13. Deep understanding of multifamily investment and development.
14. Understanding of key drivers of real estate markets in the Mid-Atlantic and Southeast.

Requirements

1. 2-5 years of experience in real estate finance and underwriting.
2. Bachelor's degree in business administration, accounting, finance, economics, engineering, or mathematics. Continued education in real estate concepts and principles recommended.
3. Experience with real estate specific Excel proformas.
4. Direct experience working on minimum of one real estate finance closing.
5. Other real estate development, design, engineering, entitlements, or legal experience a plus.

Featured benefits

Medical insurance, Vision insurance, Dental insurance, 401(k), Paid maternity leave, Paid paternity leave, Commuter benefits, Disability insurance.


Requirements added by the job poster

• Bachelor's Degree

• 2+ years of work experience with Microsoft Excel

• 2+ years of work experience with Low-Income Housing Tax Credit (LIHTC)