Overview:

The Development Financial Analyst is responsible for researching and underwriting potential real estate development opportunities, assisting in the analysis of major capital decisions, assisting with asset management and leasing for operational properties, and tracing deal-level financial projections as well as fund-level reporting. 

Responsibilities:

• 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.
• Prepare, coordinate, and document financial models for projects during predevelopment including financial and expense performance, rate of return, and investment returns. Update financial models as needed to forecast investment results.
• Prepare, coordinate, and document financial models for projects under construction to assess financial performance and any need for balancing, overruns, and capital calls.
• Prepare financial analyses and related deliverables to assist ownership in major capital decision, including, but not limited to, comp research, market research, and tax research.
• Execute the day-to-day on preparing the GP Fund Report as directed by the AVP. This includes quarterly model updates based on current market conditions, valuations, projected operating cash flows, and exit/waterfall assumptions.
• Assist with preparation of all debt and equity packages along with RFP responses; work closely with the Development team and the Director of Marketing to ensure all packages are accurate, consistent, and timely.
• Review financial models of co-development partners when they are taking the lead in underwriting.
• 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  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.
• 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.  

• Bachelor’s degree in Finance / Accounting or Business.
• One to two years of relevant experience in real estate underwriting.
• Strong financial acumen and understanding of financial modeling.
• Basic understanding of development cashflows and sources/uses.
• Experience or proven coursework in multi-family residential underwriting.
• Excellent organization and time-management skills.
• Excellent interpersonal and written communication skills.
• Excellent working knowledge of Excel.
• Understanding of coding Macros is a plus, not required.
• Proficiency in other MS Office applications.
• Collaborative and enjoys working in a team environment.
• Driver’s license and/or ability to travel to sites and meetings.