Investment Associate

2 months ago

Nashville, United States Elmington Full time
Job DescriptionJob Description

POSITION SUMMARY

Elmington Capital Group is a private commercial real estate investment and development firm headquartered in Nashville, Tennessee. Elmington focuses on commercial real estate opportunities that provide income return and capital appreciation through a diverse array of strategic initiatives.

Elmington Capital's core competency is multifamily development and is one of the nation's largest developers, owners, and managers of affordable/workforce multifamily housing. Elmington deploys $200+ million in equity annually utilizing a broad array of financing strategies. Our development focus includes attainable/workforce housing, mixed-use, and mixed-income development.

To be an effective Elmington teammate, you will need to:

  • Have a great attitude
  • Have high expectations
  • Think BEYOND the box
  • Work with passion
  • Have a tireless work ethic
  • Be confident
  • Be self-sufficient and self-motivated
  • Take pride in your work
  • Be a good listener
  • Offer a solution with every problem
  • Go above and beyond for everyone you support

ESSENTIAL JOB FUNCTIONS

The Investment Associate is a key member of the deal team and contributes to the execution of all developments and acquisitions of multifamily projects.

  • The Associate will primarily focus on underwriting, financial analysis, due diligence, investor relations, research, debt/equity, and the overall management of the complete development process including financing, construction, operations, and dispositions.
  • The position will have daily exposure to the Elmington executive team, senior team members, large financial institutions, private equity firms, and other key external stakeholders.
  • Perform complex real estate financial analysis using Microsoft Excel including IRR, NPV, JV Waterfall, sources & uses, and sensitivity analyses.
  • Coordinate production of equity and lender financing packages and Investment Committee packages.
  • Assist in formulating deal structures considering the transaction's legal, financial, real estate, and investor/capital aspects.
  • Lead all Closing processes including equity, construction loan, and perm financing agreement negotiations and equity/debt due diligence closing checklists completion.
  • Research new financing opportunities. Lead the preparation of applications for various funding sources including bonds, project-based vouchers, CDBG funds, PILOTs/tax exemptions, local soft money programs, and RFPs.
  • Research housing policy and traditional multifamily dynamics in target markets. Track local supply/demand, comparable properties, competitive landscape, market rents, and other local dynamics.
  • Assist in site selection, land contract negotiation processes, and acquisition opportunities. Manage owner/broker relationships and ensure land contracts remain in compliance.
  • Develop and maintain strategic relationships with capital providers, brokers, other developers, property owners, city staff, and other key stakeholders.

KNOWLEDGE/SKILLS/ABILITIES

  • Keen Interest in real estate investing and development.
  • Ability to work in a challenging, entrepreneurial environment and handle multiple projects simultaneously, including travel on an as-need basis. Accuracy and attention to detail is critical.
  • Strong written and verbal communication skills.
  • Well-versed in Microsoft Office suite with an emphasis on Excel and PowerPoint.
  • Outstanding proficiency in creating complex financial models for real estate financial analysis using Excel.
  • Demonstrable understanding of financial statements, use of comparative data, and financial forecasting is required.

EDUCATION/EXPERIENCE

  • Bachelor's degree required with a concentration in real estate, finance, business, engineering, accounting, or architecture.
  • Plus 2-3 years minimum experience in commercial real estate, investment banking, or management consulting.

The Elmington Experience

We're creating a different kind of company at Elmington. We promise we will never be ordinary, which we hope you can see from this job description. There will be many days you simply aren't comfortable. You will be pushed to accomplish more than you ever thought possible. You will be challenged by your team leader and your peers to achieve more and to find better ways. With that said, we know Elmington is not for everyone. BUT, if you believe in yourself, enjoy a challenge and appreciate working with exceptional people, then Elmington could very well be the last company you ever work for.

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