What are the responsibilities and job description for the Real Estate Acquisitions & Development Associate position at Cirrus Real Estate Partners?
Real Estate Acquisitions and Development Associate/Senior Development Associate
Cirrus Real Estate Partners’ actions are based on the firm’s core values: fair dealing, fiduciary responsibility and mutual respect. Cirrus’ value-based investment approach is grounded in a deep and granular understanding of the base factors which drive real estate performance generated through the 25 year average commercial real estate and capital markets experience of its partners.
This experience spans multiple cycles and includes the origination of over $150 billion of commercial real estate credit products and the investment of over $10 billion of commercial real estate equity. While firmly anchored in long-term real estate fundamentals, Cirrus’ approach is purposefully designed to adapt to the unique characteristics of each investment cycle.
Cirrus’ proprietary framework is designed to generate consistent, attractive returns through identifying investments that offer asymmetric risk-return profiles and significant downside protection while integrating direct, active asset management to ensure favorable outcomes for its stakeholders.
In this role, the potential candidate will analyze and execute attractive real estate equity opportunities in workforce housing development as well as perform asset management responsibilities with members of the team. The time allocation is expected to be ~75%/~25% between Development/Acquisitions and Asset Management. The potential candidate will need to possess relevant experience and an interest in working on transactions across multifamily and workforce/affordable housing. The potential candidate should be able to maintain strong attention to detail, handle changing workload priorities and show excellent communication and organizational skills.
Responsibilities
- Screening potential development opportunities
- Assist the development team throughout all project phases, including site acquisition, contracts, programming, entitlement, design, finance, construction and leasing/marketing
- Prepare predevelopment and development schedules
- Participate and assist with preparation of government agencies program applications, such as HPD, DOB, DOT, City Planning, etc.
- Review and analyze Request for Proposals (RFP), as well as participate in the preparation of RFP submission packages
- Underwriting / preparing detailed financial models on potential development, portfolio and master plan transactions
- Drafting Screening and Investment Committee Memorandums detailing deal merits, financial metrics, risks and mitigants and market data
- Performing asset management/portfolio monitoring tasks, including putting together internal updates (memorandums, model updates, etc.), executing business plans, including working directly with Operating Partners, and other third parties
- Conducting in-depth market research, preparing sale/lease comparables analyses
- Interfacing with brokers, legal counsel, market participants and third -party vendors
Requirements
- Bachelor's degree in Business or Economics
- Strong Communication Skills
- Minimum of 3-7 years of experience in real estate development with a focus on workforce or affordable housing
- Strong understanding of finance/real estate finance concepts
- Fluency in Microsoft Office suite (Outlook, Excel, Word, PowerPoint, etc.)