Development Analyst

About Bedrock: 

Bedrock is a full-service real estate firm specializing in innovative city-building strategies, reaching far beyond the boundaries of bricks and mortar. Since its founding in 2011, Bedrock and its affiliates have invested and committed more than $5.6 billion to acquiring and developing more than 100 properties in Detroit and Cleveland, including landmark developments at the Hudson’s Site, the Book Tower restoration, City Modern and the May Company Building. Bedrock’s portfolio totals more than 22 million square feet of office, retail and residential space within new construction and adaptive reuse projects.

For more information on Bedrock’s projects, visit bedrockdetroit.com or engage with us on Facebook, Instagram, Twitter and LinkedIn.

Job Summary

Bedrock’s Development Analyst reports to the Development Manager and supports Bedrock real estate development projects from initial conception to opening. The Development Analyst provides financial analysis to evaluate feasibility and guide development decisions.  

Responsibilities

• Prepare project pro formas for Bedrock’s extensive development pipeline including both adaptive reuse and new construction projects, across a variety of asset classes and both mixed- and single-use properties.
• Evaluate financial feasibility and prepare sensitivity analyses in the predevelopment stage to guide program, budget, and phasing recommendations.
• Integrate local, state, and Federal incentive programs into pro formas.
• Construct roll-up summaries of the development pipeline to inform Bedrock financial planning, cash flow projections, and portfolio-level financing efforts.
• Create documents (presentations, memos) that summarize financial analyses, implications for development decisions, and recommendations to leadership.
• Support project forecasting and participate in annual and quarterly cash flow forecasting for Bedrock’s development pipeline.
• Prepare market research and comparable studies to support project decisions at conception and throughout the project design phase.
• Provide cost-benefit analysis to inform development decisions/changes throughout the design and construction phases of the project.
• Support Development team leaders on assorted analytical tasks.
• Coordinate with investment team to identify capital structure for developments.
• Coordinate with asset management, leasing, and other teams to integrate rent, operating expense, and other assumptions into pro formas.
• Support the investment team in efforts to secure construction loans, permanent loans, and other vehicles needed to fund development projects.
• Other duties as assigned

Minimum Qualifications

• 3-5 years of experience in real estate financial modeling from areas such as real estate development, investment banking, consulting, or other positions.
• Bachelor’s degree in business, finance, or economics, preferred
• Proficiency in MS Excel, Word, and presentation software. Experience with Argus preferred, but not required.
• Strong written, presentation, and general communication skills.

Disclaimer

This is an outline of the primary responsibilities of this position. As with everything in life, things change. The tasks and responsibilities can be changed, added to, removed, amended, deleted and modified at any time by the leadership group.

We are proud equal opportunity employers and committed to providing an inclusive environment based on mutual respect for all candidates and team members. Employment decisions, including hiring decisions, are not based on race, color, religion, national origin, sex, physical or mental disability, sexual orientation, gender identity or expression, age, military or veteran status or any other characteristic protected by state or federal law. We also provide reasonable accommodations to qualified individuals with disabilities in accordance with state and federal law.