Job Summary: The Development Analyst assists in the underwriting of real estate debt and investments related to affordable housing and works to ensure excellent and efficient delivery of service to its Cinnaire Solutions team member(s).
Essential Duties and Responsibilities:
- Prepares, evaluates and updates financial proformas and cash flow models for potential real estate developments.
- Determines initial feasibility, sizing and structure of proposed developments.
- Analyzes market studies and/or appraisals and conducts independent market research as necessary.
- Identifies and analyzes potential underwriting issues and mitigants associated with potential loans or investments.
- Maintains the integrity and accuracy of Cinnaire Solutions’ developments.
- Works with Development Managers and Development Associates on applications for LIHTC and supportive (gap) financing.
- Effectively communicates internally among and between teams and externally with partners, lenders, and syndicators, and stays up to date on underwriting guidelines for HFAs and other funders.
Qualifications and Skills:
- Bachelor’s Degree in Finance, Economics, Business or Real Estate/Urban Planning.
- Strong Microsoft Suite skills required.
- Ability to model a variety of real estate transactions including LIHTC, NMTC, bond financing, and financial investments including expected cash flow and return.
- Strong organizational skills and attention to detail with the ability to manage multiple projects simultaneously.
- Prior experience and/or knowledge of financial programs and products designed to expand the availability of affordable housing or community economic development is a plus but not a requirement. Such programs include Low Income Housing Tax Credits, New Market Tax Credits, Federal and State Historic Tax Credits, Federal Grants from the Department of Housing and Urban Development, Fannie Mae lending, and other CDFI resources.
- Valid driver’s license.