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Financial/Development Analyst - Greater Boston MA

Company: Wood Partners
Location: Lexington
Posted on: May 16, 2022

Job Description:

Job DescriptionDEVELOPMENT ANALYSTPosition OverviewSupport Vice President of Development with finding new development opportunities, running pro forma analysis to explore the feasibility of multifamily and mixed-use development projects, assessing project risk, pursuing the required entitlements, and managing the design of the project so that the end product appeals to the targeted market. The Development Analyst will also have primary responsibility for the creation of investor/lender presentation packages, and preparation and tracking of budgets to ensure that development projects are completed on schedule, within budget, and in compliance with the terms of joint venture and loan agreements. WORK PERFORMED (responsibilities include but are not limited to the following)SITE SELECTION:

  • The Development Analyst will support the Vice President in building the knowledge of all potential development sites in the market and develop a plan for pursuing them SITE FEASIBILITY/UNDERWRITING:
    • The Development Analyst is responsible for quickly developing preliminary information relative to the site such as the quality and location, rent potential, development trends in the submarket, the location of comparable apartment sites, impact fees and real estate taxes
    • The Development Analyst will also be responsible for a preliminary strategy concerning the type of product we should develop including unit mix, type and scope of amenities, and any other key project features to target the preferred demographic and achieve the level of rents required
    • Analyst will be responsible for maintaining complex real estate models to analyze returns and economic feasibility DUE DILIGENCE:
      • Assist the Pre-construction team with the due diligence effort when pursuing projects under contract
        • This includes collecting and managing the review of all potential risks and value drivers including title documents, project entitlements, environmental documents, soils analysis, etc. PREPARING INVESTMENT COMMITTEE AND FINANCE PACKAGES:
          • The Development Analyst will be responsible for preparing investment committee packages for internal review and finance packages to be sent to potential lenders and equity partners for projects under due diligence PRE-CONSTRUCTION PROJECT MANAGEMENT:
            • The Development Analyst will interface and negotiate with governmental jurisdictions on entitlement and zoning issues
            • The Development Analyst will also assist in the review and negotiation of contracts (purchase and sale, loan documents, partnership agreements, leases, easements, etc.)
            • Additional responsibilities will include interfacing on a daily basis with designers, general contractors, architects, and Wood Partners pre-construction staff on development and construction projects
            • Working with Vice President of Development, the Analyst will be responsible for tracking pre-development budgets and forecasting future spending consistently FINANCING AND CLOSING:
              • Once financing commitments have been obtained, the Development Analyst shall help collect the information requested by or set forth in the checklist of the lender or equity partner
              • The Development Analyst shall have primary responsibility for coordinating with the Development Directors to ensure that the necessary entities are formed on a timely basis and obtaining such things as corporate approvals and coordinating with Wood Partners' construction team to obtain the necessary building permits CONSTRUCTION PERIOD AND POST CLOSING:
                • After the transaction is closed and the building permits have been obtained, the Development Analyst shall be responsible alongside the Development Manager for primary oversight of the project as the representative of the Owner
                • In this capacity, the Development Analyst will coordinate third party service provider contracts and marketing agreements, manage the monthly draw process and communication with the lender and equity partner, track job costs against budget, and report to management on projected savings or overruns
                • Additionally, the Development Analyst will attend bi-weekly construction meetings and coordinate with construction and Wood Partners to establish realistic turnover schedules for the lease office and apartment buildings, model and clubhouse furniture installation dates, approval of a lease-up budget and lease-up strategy Required Qualifications at this LevelEducation/Training:
                  • Bachelor's Degree in business, science, or other related discipline or Associates Degree and related experience Experience:
                    • Minimum of 1-3 years of professional work experience is preferred
                    • Candidate will ideally have a background in real estate investment and finance, development, planning, or mathematics
                    • Must have experience with financial valuations and evaluations of property
                    • Must show prior experience and success derived from taking initiative, and strong knowledge of the Greater Boston/New England area strongly preferred Skills:
                      • Strong financial and analytical skills with a passion for real estate
                      • Ability to handle multiple projects in various stages through the consistent completion of tasks with established deadlines
                      • Knowledge of key financial concepts and metrics as they relate to the multifamily real estate industry, including capitalization rates, internal rates of return, cash-on-cash returns, and others
                      • Thorough understanding of using Excel and understanding pro forma analysis. Ability to assemble high-quality presentations
                      • Strong verbal and written communication skills
                      • Ability to absorb and act on legal documents such as land contracts, Joint venture agreements, title, zoning, and financing agreements

Keywords: Wood Partners, Boston , Financial/Development Analyst - Greater Boston MA, Accounting, Auditing , Lexington, Massachusetts

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