Analyst (Real Estate Development)

General Summary:

Supports management in the following areas: identifying and acquiring ground-up development opportunities, evaluating projects, executing ongoing development initiatives and supporting ongoing regional operations and business needs.

Summary of Key Duties and Responsibilities:

Acquisitions & Investments:

• Conducts market research and analyzes trends across each of the region’s core product types and markets, and presents findings to senior team members to identify new opportunities
• Performs ROI analysis, including cash flows, IRRs, waterfalls, etc., for potential acquisitions of new properties for development, redevelopment or expansion of current properties. Additionally, supports senior-level team members in evaluating exit opportunities once a project has achieved the forecasted business plan
• Spearheads the collection of due diligence materials to evaluate site feasibility. Assists in the review of purchase & sale agreements, legal documents and other materials
• Drafts investment committee materials and business plans for new acquisitions and ongoing development projects

Development Execution:

• Assists in the analysis and structuring of tenant leases, construction financing, joint ventures, property management and other special projects/transactions
• Supports preparation of debt and equity offering memoranda for projects
• Drafts, updates and evaluates operating expense, cash flow and income projections against established budgets and operating proformas
• Engages with community stakeholders to assist in obtaining project entitlements and achieving development hurdles. This may include neighborhood associations, public and private entities, adjacent landowners and users, etc.
• Observes and participates in ongoing construction meetings with contractors, architects, and project engineers

Ongoing Regional Operations:

• Coordinates with internal departments including Design and Construction, Accounting, Business Analysis, Treasury, Legal and Tax to collect market, economic, and financial data. Works closely with these departments to prepare budgets, project financials and determine financing options
• Assists the Development Accounting team in monitoring development cost performance
• Assists in the development of proposed annual and long-range operating and capital expenditure budgets and plans for RGDC and RGDC projects
• Works with real estate and construction colleagues regionally and nationally to develop and evaluate strategic opportunities for Rockefeller Group's development portfolio
• Develops, drafts and prepares reports and presentations to support RGDC's corporate asset strategy and real estate initiatives, strategic studies and lease transactions
• Maintains a regional market database for product types applicable to the region including office, multifamily and industrial. Reviews and makes recommendations based on changes in market fundamentals, supply pipelines and shifts in micro and macro economic conditions
• Analyzes variances of forecasted and actual results to determine the accuracy of projections and the financial status of projects
• Anticipates, recognizes, and informs management of business issues and opportunities that may affect project facilitation
• Performs other ad hoc duties and special projects as assigned

Education Requirements:

Bachelor’s Degree required, with preferred field of education in business, real estate, economics, architecture, engineering and/or finance.

Master’s Degree or MBA preferred, in business, real estate or finance

Experience / Knowledge / Skills Requirements:

• Two to three years of experience in real estate development, finance, capital markets or brokerage, or related field
• Working knowledge of financial statements, investments and/or taxes required; and prior IRR, NPV, budget preparation, scenario analysis/proformas experience required
• Fundamental understanding of real estate development, operations and/or prior experience with lease, financing and/or partnership agreement documents required
• Excellent analytical skillset, displays leadership potential/qualities and is proficient in their written and verbal communication
• Proficiency in Excel, Word, and PowerPoint; basic knowledge of ARGUS
• Displays strong attention to detail, is able to multitask and can be effective in unfamiliar situations
• Ability to work in a fast-paced, multifaceted environment and demonstrate the ability to balance competing priorities while meeting established deadlines
• Demonstrates compelling problem-solving abilities and has an eagerness to grow within the role
• Willingness to travel up to 25% to current and potential project sites during the due diligence process and development execution