Investment Manager

Key Responsibilities

• Leads and oversees financial analysis of real estate investment opportunities (new and existing).
• Advanced financial underwriting - compile, update and maintain project financial proformas in existing Excel templates and new/modified forms when necessary. Create new templates and perform advanced modeling (e.g. waterfalls, sensitivities, etc.) when necessary.
• Lead, direct, conduct and interpret relevant research and data gathering including comps, market trends, trades, capital markets, etc. using internal and 3rd party sources.
• Junior lead on development of overall project financial and capital structuring strategy including debt, equity, and subsidy strategies.
• Stays abreast of local, regional, and national real estate market trends and macro-economic conditions and understands impacts to assigned projects.
• Oversees the contracting and performance of due diligence and 3rd party reports. Responsible for reviewing, understanding, and interpreting all reports and taking any necessary follow up action, documentation, risk analysis.
• Analyzes project performance and makes “owner” decisions when necessary or gathers necessary information and presents recommendations to senior management.
• Works directly with Development and Asset Management Teams to set project schedule, program, and budget for projects in development or repositioning. Provides input on project positioning, market segmentation, and customer definition.
• Leads analysis and decision making on all aspects of development project financial performance including capital expenditures, revenue, expenses, and budget. Oversees proforma updates and analysis of alternative scenarios.
• Commercial leasing – Leads selection and contracting with leasing brokers. Works with brokers to set leasing/merchandising strategy when needed. Leads term sheet negotiation and leads analysis of lease terms. Works with counsel to negotiate leases and presents summaries to lenders/investors for approval.
• Junior author development of the investment thesis and preparation of materials for internal and external investment and loan committees.
• Leads application process for public financing opportunities.
• Oversees lender/investor due diligence – compile and deliver all lender/investor required documents.
• Leads closing calls and works w/ junior staff to maintain meeting minutes and closing checklists.
• Leads the preparation and presentation of regular investor and lender reporting.
• Develop, maintain, and expand industry and capital partner relationships and works to develop strategic partnerships.
• Mentor Analysts and Associates. Participates in recruiting, interviewing, goal setting and development of junior staff.
• Assist in business development and deal sourcing activities.

Competencies Demonstrated

• Advanced or higher understanding of real estate terminology & concepts: operating expenses (OpEx), asset classes, finance, acquisitions, and investment returns (ROC, IRR, etc.)
• Intermediate level knowledge of real estate development terminology & concepts: architecture and engineering, permitting, land-use and regulatory, construction.
• Intermediate level project and schedule management skills (CPM, MS Project, etc.).
• Advanced or higher financial modeling and MS Excel skills including ability to modify or create new templates.
• Possesses 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.).
• Intermediate risk management skills - understands of how to identify, track, and report project risks, make decisions, and when to elevate issues.
• Developed networking and relationship management skills, especially lenders, investors, vendors, and tenants.
• Ability to read and interpret legal documents including loan documents, contracts, LLC agreements, and commercial leases.
• Ability to make “owner” decisions - sound judgment, logic, reasoning and ability to communicate rationale.
• Strong writing and presentation skills
• Proven research skills, including data compilation/organization and presentation,
• Effective time management and task prioritization; resourceful, proactive, and persistent in problem-solving.
• Ability to see “big picture” and navigate through ambiguous situations. Provide guidance to junior staff in problem solving.
• Ability to identify business development opportunities.

Experience Required

• 7-10 years of experience in real estate finance and underwriting.
• Bachelor’s degree in business administration, accounting, finance, economics, engineering, or mathematics. Graduate degree - MBA, Masters In Real Estate, Finance or related field is preferred but not required if possesses sufficient experience.
• Substantial experience with real estate specific Excel proformas.
• Direct experience working on minimum 5-7 real estate finance closings with multiple deal structures.
• Other real estate development, design, engineering, entitlements, or legal experience a plus.