Multifamily Development Analyst

Role

The Development Analyst will support the Director of Development in identifying and evaluating new development opportunities, conducting proforma analyses to assess the feasibility of multifamily and mixed-use projects, and managing various aspects of the development process. This includes site selection, underwriting, due diligence, entitlement pursuits, design management, and coordination with stakeholders to ensure projects are completed on schedule, within budget, and in compliance with joint venture and loan agreements.

Key Responsibilities

Daily responsibilities include, but are not limited to:

Site Selection: Assist in identifying potential development sites and developing strategies for acquisition.

Feasibility Analysis and Underwriting:

• Conduct preliminary assessments of site quality, location, rent potential, and development trends.
• Analyze comparable properties, impact fees, and real estate taxes.
• Develop strategies for product type, unit mix, amenities, and key project features to target preferred demographics and achieve desired rent levels.
• Maintain complex real estate models to analyze returns and economic feasibility.

Due Diligence: Collaborate with the pre-construction team to collect and review documents related to title, entitlements, environmental assessments, and soil analyses to identify potential risks and value drivers.

Investment Committee and Finance Packages: Prepare comprehensive investment committee packages for internal review and finance packages for potential lenders and equity partners during due diligence.

Pre-Construction Project Management:

• Engage with governmental jurisdictions on entitlement and zoning matters.
• Assist in reviewing and negotiating contracts, including purchase and sale agreements, loan documents, partnership agreements, leases, and easements.
• Coordinate with designers, general contractors, architects, and pre-construction staff on development and construction projects.
• Track pre-development budgets and forecast future expenditures.

Financing and Closing: Support the collection of required information for lenders and equity partners, ensure timely formation of necessary entities, obtain corporate approvals, and coordinate with the construction team to secure building permits.

Construction Period and Post-Closing:

• Oversee projects as the Owner's representative, coordinating third-party service provider contracts and marketing agreements.
• Manage the monthly draw process and maintain communication with lenders and equity partners.
• Monitor job costs against budgets and report projected savings or overruns to management.
• Attend bi-weekly construction meetings and coordinate with construction teams to establish realistic turnover schedules for leasing offices, apartment buildings, and amenities.

Qualifications

•         Bachelor’s degree in Real Estate, Finance, Business, or a related field.
•         1–3 years of experience in real estate development, finance, or a related field.
•         Proficiency in financial modeling and analysis, with experience in real estate pro forma development.
•         Strong understanding of market-rate multifamily development processes.
•         Excellent organizational skills and attention to detail.
•         Effective communication and interpersonal abilities.
•         Ability to manage multiple tasks and deadlines in a fast-paced environment.
•         Proficiency in Microsoft Office Suite, particularly Excel, Word, and PowerPoint.
•         Self-motivated with a proactive approach to problem-solving.
• Building positive working relationships with employees at all levels within the organization.
• Exercising sound judgment when making decisions.
• “Can-do” attitude, pro-active and resourceful.