Research and underwrite potential real estate development opportunities, assist with asset management and leasing for operational properties, and support deal-level financial projections as well as fund-level reporting.
Part-time 30 hours weekly with full-time potential
- Underwrite and review all potential development projects identified by the Development Team for financial viability; prepare financial models for quick analysis as well as detailed financial models for in depth consideration.
- Responsible for the preparation, coordination, and documentation of financial models for projects including financial and expense performance, rate of return, and investment returns. Update financial models as needed to forecast investment results.
- Review financial models of co-development partners when they are taking the lead in underwriting.
- Assist with the preparation of quarterly fund reports by updating valuations, projected operating cash flows, and calculating potential waterfall distributions.
- Analyze real estate trends in the Chicagoland area and other markets; track institutional sales, rent growth, occupancy, and other related metrics.
- Track the Chicago real estate tax environment and prepare tax comps and analysis.
- Assist with preparation of all debt and equity packages and RFP responses; work closely with the Development team and Vice President, Sales and Marketing to ensure all packages are accurate, consistent, and timely.
- Review all property leasing reports and operating budgets; review financial statements of operational properties to ensure target margins and hurdles are tracked and communicated monthly.
- Assist with acquisitions and dispositions by providing or reviewing due diligence material, calculating expense and tax prorations, preparing the closing statement and closing cost estimates, and calculating distributions/contributions for investors.
- Experience or proven coursework in multi-family residential underwriting required
- Excellent interpersonal and written communication skills
- Excellent working knowledge of Excel; proficient in other MS Office applications
- Strong understanding of financial modeling required
- Collaborative and enjoy working in team environment
- Bachelor’s degree in Finance / Accounting or Business required
- Internship or relevant experience in real estate underwriting required