Associate, Real Estate Development - Toronto, Canada - Hazelview Investments

Hazelview Investments

Verified Company

Toronto, Canada

3 weeks ago

Posted by:

Sophia Lee

beBee Recruiter

Description

KEY RESPONSIBILITIES

Create, manage, and maintain development proformas and cash flow models and lead financial underwriting projects and take ownership and responsibility for developing and streamlining best practices for proforma financial models used in the assessment of development project viability and by the executive team for decisionmaking.
Work with internal and external teams throughout the underwriting due diligence process, including but not limited to internal planning, market research and financial analysis in tandem with internal AM team and external consultants.
Critically evaluate and present the financial metrics (e.g. IRR, Yield on Cost, Development Profit, Investment Multiple) for each new investment opportunity to senior management, including oversight of supporting assumptions and relevant market research.
Coordinate with the Finance department to maintain consistent and accurate financial reporting to investment partners and lenders.
Prepare and review written reports to the executive team regarding the results of pro forma analysis or for external reporting/submission documents (partner reporting).
Manage development financing due diligence process, engage and direct thirdparty professionals (lenders) and consultants (appraisers, lawyers, cost consultants) to complete project financing.
Manage and monitor development financing throughout lifecycle of loan and project, including construction draw schedules and work with cost consultants to ensure project remains on budget and adequate funding remains available.
Contribute to and support the execution of development management by providing financial analysis and investment viability for active development projects.
Collect and analyze debt market data to be used by executive team to be used in financing decision making.
Critically assess and prepare detailed, comprehensive financial models and forecasts (project cash flows and proforma financial projections) for all projects.
Actively lead the market research efforts to validate all modelling and forecasting assumptions.
Create return sensitivity tables, joint venture waterfall models and other financial analyses required to evaluate projects.
Track and analyze current projects under development, create development proformas, JV waterfall models, and budget variance analysis and work with development managers to prepare of cash flow projections.
Identify project risk factors and run required sensitivity analysis throughout the project.
Conduct budget to actual variance analysis for portfolio of projects, ongoing budget monitoring and analysis, including costs incurred versus cost to complete and monitoring construction draw schedules.
Work closely with the executive team to undertake and secure project financing commitments and executing due diligence on proposed debt financing commitments from lenders and equity syndication placements; reviewing legal documents and agreements including letters of intent, purchase and sale agreements, joint venture agreements, loan documents and fee proposals.
Validate all source data used in proforma models and fully document all assumptions and parameters used to prepare forecast models.
Create financial models for presentation to all stakeholders (quarterly reporting) including investment partners, management (PMR) and thirdparty reporting requirements (appraisers, lenders).
Assist with determining the financial feasibility of development acquisitions.
Review portfolio cash flows to ascertain future cash requirements, both debt and equity.
Lead the preparation of investment presentations for investment committee and client approval, including completing the investment recommendations, compiling multiple components from the AMs, development managers and the construction team, editing and preparing the final presentations.
Lead the quarterly development reporting, including updating current investment performance parameters, and work with the development managers to create development status updates.
Oversee multifamily development projects through development and close out working alongside, ensuring partners and consultants are meeting timelines, budgets and returns, review progress draws for JV partnerships.
Research market data inputs for underwriting as well as the underwriting and investment recommendation process.
Participate in meetings alongside executive leadership and JV partners and make decisions regarding development strategy, longrange planning, asset mix, budgets and schedules, construction financing, and sales/marketing.

JOB REQUIREMENTS

Education and Experience:

35 years experience of real estate development (mixed use, multi family asset class)
Real Estate Development experience in underwriting, planning approval and design
Proficient in

Microsoft Office:
Excel, Word, Outlook, PowerPoint, etc.