Investment Manager

Duties & Responsibilities 

• Lead and oversee financial analysis for both new and existing real estate investment opportunities. 
• Perform advanced financial underwriting by compiling, updating, and maintaining project financial proformas using existing Excel templates. Develop new templates and execute complex modeling (e.g., waterfalls, sensitivities) when required. 
• Lead, direct, and conduct relevant research and data gathering, including market comps, trends, trades, and capital markets, using both internal and external sources. 
• Act as a junior lead in the development of overall project financial and capital structuring strategies, including debt, equity, and subsidy strategies. 
• Stay current on local, regional, and national real estate market trends, as well as macroeconomic conditions, and assess their impact on assigned projects. 
• Oversee contracting and performance of due diligence and third-party reports. Review, interpret, and take necessary follow-up actions based on reports, documentation, and risk analysis. 
• Analyze project performance and make “owner” decisions or gather information and present recommendations to senior management when necessary. 
• Collaborate with the Development Team to establish project schedules, programs, and budgets for development or repositioning projects. Provide insights on project positioning, market segmentation, and customer definition. 
• Work closely with the Asset Management team to set annual budgets, track progress toward business plans, and adjust those plans as needed. 
• Lead analysis and decision-making on all aspects of financial performance for development projects, including capital expenditures, revenue, expenses, and budgets. Oversee proforma updates and alternative scenario analyses. 
• Periodically update financial projections for existing operating assets based on actual performance and review those projections with the Asset Management team. 
• Assist with business plan revisions for operating assets by reviewing underwriting assumptions, current performance, and market trends. 
• Conduct annual valuations and hold/sell analyses for existing operating assets, working jointly with Asset Management on these decisions. 
• Monitor capital market conditions and review capital structures for operating assets to determine if adjustments are needed. 
• Lead commercial leasing activities, including the selection and contracting of leasing brokers. Collaborate with brokers to define leasing/merchandising strategies, negotiate term sheets, analyze lease terms, and present summaries to lenders and investors for approval. 
• Serve as a junior author in the development of investment theses and preparation of materials for internal and external investment and loan committees. 
• Lead the application process for public financing opportunities. 
• Oversee lender/investor due diligence by compiling and delivering all required documents. 
• Lead closing calls, manage meeting minutes, and maintain closing checklists with the support of junior staff. 
• Prepare and present regular reports to investors and lenders. 
• Develop and expand relationships with industry stakeholders and capital partners, working to build strategic partnerships. 
• Mentor Analysts and Associates, and participate in recruiting, interviewing, goal setting, and professional development of junior staff. 
• Support business development and deal sourcing activities. 

Competencies 

• Advanced understanding of real estate terminology and concepts, including operating expenses (OpEx), asset classes, finance, acquisitions, and investment returns (e.g., ROC, IRR). 
• Intermediate knowledge of real estate development terminology and concepts, such as architecture and engineering, permitting, land use, and regulatory processes, as well as construction. 
• Intermediate project and schedule management skills, including experience with CPM and MS Project. 
• Advanced financial modeling and MS Excel skills, with the ability to modify or create new templates. 
• Intermediate risk management skills, including the ability to identify, track, and report project risks, make informed decisions, and know when to escalate issues. 
• Strong networking and relationship management skills, particularly with lenders, investors, vendors, and tenants. 
• Proficient in reading and interpreting legal documents, including loan agreements, contracts, LLC agreements, and commercial leases. 
• Effective time management and task prioritization, demonstrating resourcefulness, proactivity, and persistence in problem-solving. 
• Ability to see the “big picture” and navigate ambiguous situations while providing guidance to junior staff in problem-solving. 
• Strong ability to identify business development opportunities.  

experience required

• 5-7 years of experience in real estate finance and underwriting. 
• Bachelor’s degree in business administration, accounting, finance, economics, engineering, or mathematics. A graduate degree (MBA, Master’s in Real Estate, Finance, or a related field) is preferred but not required with sufficient experience. 
• Extensive experience working with real estate-specific Excel proformas. 
• Direct experience in a minimum of 3-5 real estate finance closings with multiple deal structures. 
• Experience working with value-add operating assets, with a preference for affordable or attainable housing projects. 
• Additional experience in real estate development, design, engineering, entitlements, or legal processes is a plus.