Development Associate,REID

1 week ago

Houston, United States The Itex Group Full time
Job DescriptionJob DescriptionDescription:

The Development Associate will provide necessary support to ITEX’s Real Estate Investment & Development Group to facilitate in all aspects of real estate acquisitions. Responsible for assisting with the development due diligence of new multifamily housing developments through conversions and cost certifications/8609s for both new construction and acquisition/rehabilitation, as well as Section 8, RAD, mixed-use, mixed-income and market rate developments.


Job Duties and Responsibilities

  • Read, abstract, and analyze and be well versed in state and federal program rules and requirements.
  • Understand, create and analyze financial models
  • Assist in completing applications for funding including LIHTC and CDBG-DR, responding to Request for Proposals/Qualifications, and addressing deficiencies.
  • Create and manage budgets and timelines.
  • Identify and coordinate third party reports.
  • Manage due diligence for financial closings, conversions, and all capital contributions.
  • Compile and provide necessary reporting to state and federal agencies, lenders and investors.
  • Request final inspections from appropriate parties and address all deficiencies.
  • Monitor construction to ensure budgets and timelines are on target.
  • Analyze and monitor property’s monthly financial statements, budgets, rent rolls, and other property-level information to ensure stabilization of a property.
  • Compile and submit cost certifications and obtain 8609s.
  • Provide assistance for any additional assigned duties.
  • Ability to acquire notary certification.


Requirements Knowledge and Skills

  • Strong quantitative and technical/computer skills including proficiency in Microsoft Office, particularly Excel and PowerPoint.
  • Well-developed analytical skills with strong written and verbal communication capabilities.
  • Basic understanding of commercial real estate underwriting, documentation, terms, structures, property types, and markets preferred.


EOE M/F/D/V

Requirements:

Education and Experience

  • Minimum of 1-2 years of experience in commercial real estate with direct experience in lending/credit, affordable/real estate financial analysis and underwriting, asset management, development and/or financing of multifamily housing.
  • Bachelor’s degree, with a focus in Business, Finance or Economics preferred.


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