Sherman Associates is currently seeking an experienced real estate Development Associate to join our team! As a member of our experienced real estate development team, you will partner with various internal partners to lead projects from start to end. Projects include urban mixed-use (residential/commercial), affordable LIHTC multifamily, luxury housing, and more. As a leading developer in the Upper Midwest, we live our passion to develop real estate with purpose and meet community needs.

Applicants must be based in the Greater Minneapolis/Saint Paul Area and should expect some hybrid remote/in-person work. Travel expectations are 10-15% as needed.

ESSENTIAL FUNCTIONS

Core Responsibilities

• Determine funding requirements for the viability and sustainability of multi-family and mixed-use projects.
• Manage pre-development activities including acquisition, environmental review, project concept development, budgeting, cost analysis and financing of multi-family and mixed-use projects.
• Assist in formulating standard/routine proposals in conjunction with team members and various functional groups.
• Complete proformas for multi-family and mixed-use projects using a mix of funding sources, including but not limited to, Federal and State Low Income Housing Tax Credits, Federal and State Historic Tax Credits and New Market Tax Credits, Tax Increment Financing and Tax Abatement.
• Manage pre-development activities including acquisition, environmental review, project concept development, budgeting, cost analysis and financing of multi-family and mixed-use projects.
• Manage and organize due diligence requirements for multiple parties.
• Create financing packages for lenders, investors and project stakeholders
• Assist in completion and submission of financing applications
• Prepare pre-development budgets, operating budgets cash flow and reserve analyses.
• Prepare overall project timelines and schedules.
• Manage project cast flows, construction draws and budget during pre-development and construction.
• Develop and maintain relationships with private lending institutions, state, federal and local officials, and private equity investors.
• Assist in managing construction draws and budget during pre-development and construction.
• Other duties as assigned.

Client Focus

• Meets the changing needs of others in a friendly and positive manner.
• Gains trust and confidence of internal and external customers.
• Establishes and maintains effective business relationships.

Professional and Effective Communication

• Communicates effectively both verbally and in writing.
• Practices active listening and responds in a professional and timely manner.
• Team player and interacts with others in a positive, collaborative, and productive manner.
• Asks for, accepts, and acts on feedback.

Accountability

• Produces required volume of work by planning, organizing, and prioritizing work duties.
• Adheres to Sherman Associates attendance policy, grooming and appearance standards, general work rules, and department procedures.
• Maintains a clean and safe work environment, follows all procedures for client and employee incidents and is knowledgeable for hotel emergency procedures.
• Ensures compliance with federal, state and local laws regarding health and safety services.
• Attends all required department and company meetings.

• Financial Modeling Skills – able to use a variety of tools, techniques and approaches.
• Ability to change priorities and manage multiple stakeholder expectations.
• Ability to meet deadlines in a very fast paced environment
• Quick learner with a high attention to detail and able to grasp a larger corporate picture
• Able to multi-task while setting priority, work independently and in a team setting
• Strong verbal and written communication skills
• Excellent Microsoft Excel and data management skills
• Must be willing to work extended hours as necessary to meet deadlines
• A passion for the mission, vision, and values of Sherman Associates.
• Office hours may vary due to the specific needs of the company.

Education & Experience

• Bachelor’s degree in Real Estate, Finance or a related field.
• Experience in industry business development and/or research and development arena.
• Must have experience supporting the development of at least six proposals to commercial and non-commercial sponsors or an equivalent combination of relevant education and/or experience.
• Working knowledge of Federal and State Low Income Housing Tax Credits, Federal and State Historic Tax Credits, New Market Tax Credits, and Tax Increment Financing and Tax Abatement.
• Knowledge of real estate transaction process; including land/building acquisition and closing of debt and equity.
• Understands and applies payroll process and practices with a high attention to detail

Sherman Associates is an Equal Opportunity and Affirmative Action Employer. We encourage women, minorities, individuals with disabilities, and protected veterans to apply.

This job advertisement is intended to provide information essential to understanding the scope of the position. It is not an exhaustive list of skills, duties, responsibilities or working conditions associated with the position.

Only applicants who complete our online application process will be considered for employment. Applicants that need reasonable accommodations to complete the application process may contact careers@sherman-associates.com
From: Sherman Associates
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