Development Analyst

Development Analyst

Job Summary: 

The Development Analyst is a critical member of Hillpointe’s multifamily development team, heavily involved in the underwriting and due diligence processes. This role will support the Vice President of Development across 8-10 active multifamily projects by conducting robust financial and site-level due diligence. In addition to project specific underwriting and due diligence, the Development Analyst will collaborate with the broader Hillpointe investment team to research and identify markets for future investments, contributing to the strategic growth of the firm’s real estate portfolio.

Essential Responsibilities: 

• Prepare detailed underwriting packages for prospective projects, including investment committee memorandums, detailed pro-formas, rent comps, sales comps, expense comps and key market trends.
• Conduct market research for markets/submarkets within Hillpointe’s target investment geography, including an analysis of supply/demand for multifamily housing, economic drivers, infrastructure projects and other factors that may influence the future performance of multifamily housing in the target market/submarket.
• Conduct detailed financial modeling and analysis for Hillpointe’s multifamily development pipeline
• Perform sensitivity analysis to evaluate prospective project level risks and returns.
• Compile and maintain due diligence checklists to ensure all necessary information is collected and analyzed
• Review due diligence materials, including environmental reports, zoning requirements, market studies, etc.
• Track timelines, manage handoffs to asset management, capital markets, and debt capital markets teams and coordinate with internal teams.
• In partnership with Hillpointe’s in-house legal team, manage land closing and ensure a smooth, accurate and timely acquisitions process. 
• Support Hillpointe’s capital markets team by preparing project summaries and coordinating with lenders and appraisers to provide project level information.

Mindset and Approach:

The Development Analyst operates in a risk filled and time sensitive environment, with expected timing and financial metrics constantly in flux as details regarding specific site characteristics emerge and municipal stakeholders apply and create development rules. As such, the ideal candidate will thrive at:

• Creating financial underwriting, verifying revenue and expense assumptions, and self-checking work for accuracy.
• Drafting narratives that adequately describe investment rationale, project strengths, project weaknesses, and relevant site specific development considerations.
• Constantly pushing internal and external stakeholders to move the pre-development process forward with an extreme sense of urgency.
• Aggressively solving problems through in-person meetings and phone calls – not sitting behind emails.
• Synthesizing market/sub-market economic, supply/demand, and demographic data into an easily digestible analysis of market/sub-market favorability and likely future performance.

Requirements:

• Bachelor's degree
• 2+ years of experience in a similar role with a real estate investment firm (past multifamily experience preferred) or a combination of Master’s level education and experience.
• A high degree of proficiency in excel modeling
• Proficiency in Microsoft Word, PowerPoint and Outlook
• Strong written communication skills
• Excellent research and analytical skills
• Highly detail-oriented personality