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DEVELOPMENT FINANCE ANALYST

Iris Development
New Orleans, LA
  • Expired: over a month ago. Applications are no longer accepted.
Job Description

COMPANY:

Iris Development, a rapidly growing real estate development company focused on (affordable) housing, is hiring a Development Finance Analyst to strengthen its team’s deal sourcing and asset management capacities. Iris is located in New Orleans and New York. Today, the company manages an active development pipeline totaling over 400 units in Louisiana and New York.

The ideal candidate for this position will be expected to effectively work directly with the Chief Executive Officer (CEO) to execute on the firm’s identified opportunities for acquisitions, and to assist the asset management operations of the company’s existing portfolio. Much of the time will be spent working in Excel, the Google Suite (email, Drive, Maps) and enterprise software like Slack. This role requires occasional travels to active project sites, close collaboration with senior leadership and due diligence work interfacing with third parties. Weekly check-in calls with senior leadership is expected (daily during training).

Iris Development is a young and ambitious company. A good fit for the company’s culture would be an analytically strong self-starter with high degrees of resourcefulness, curiosity, accountability and confidence.

POSITION DESCRIPTION:
The Development Finance Analyst provides financial analysis and due diligence of new acquisition targets and development projects, as well as asset management on operating projects to ensure financial performance goals are achieved.

RESPONSIBILITIES INCLUDE:
non-exhaustive with the potential for growth into higher-responsibility role

  • Develop project pro formas and budgets with input from senior leadership and relevant third parties
  • Support the Chief Executive Officer in structuring and securing development funding sources for development projects
  • Lead underwriting and due diligence efforts on prospective and new projects
  • Evaluate financial products and subsidies to determine project feasibility, including following up on market information, regulatory constraints and financial resources as they evolve
  • Assist in the application, review and negotiation of debt and equity term sheets and project closing documents
  • Assist in coordinating with lenders, appraisers, attorneys, public entities and others to underwrite and close transactions
  • Prepare financial analysis for prospective investor engagement and ongoing financial reporting for investors
  • Create and maintain project sources and uses throughout the project development process
  • Provide analysis of project performance (budget vs actuals), adjust financial projections as necessary
  • Analyze potential financing risks and opportunities, reporting to Iris Development team members, investors, and lenders as appropriate
  • Assist in review and preparation of loan draw and disbursement requests for development projects
  • Assist with refinancing, dispositions, distributions, and budgeting

REQUIRED QUALIFICATIONS:

  • Bachelor’s degree in real estate, finance, accounting, or related field required
  • Real estate industry experience acquisitions considered a plus
  • Knowledge of affordable housing development finance a plus
  • Proficiency in Microsoft Excel
  • Strong analytical skills with an understanding of mathematical functions and return metrics for investment
  • Excellent written and oral communication skills
  • Capable of leading with conscientiousness, compassion and integrity
  • Passion for real estate and understanding the real estate development/management process
  • Willingness to take on a lot of first-hand responsibility within the company’s nimble team
  • Eagerness to learn, adapt and innovate, while remaining flexible as processes are being developed/improved
  • Ability to self-motivate, work independently and prioritize tasks between projects while embodying team spirit
  • Withstand periods of very high workflow, as the company works on a project-specific basis with ebbs and flows of project and closing demands

This full-time role reports directly to the Chief Executive Officer of the company, although substantial interaction with the Chief Operating Officer (COO) and Chief Financial Officer (CFO) is expected.

Iris Development offers an opportunity for long-term professional growth as the company expands, working directly with senior management. The company’s principals are flexible with respect to specific work arrangements, but highly demanding in terms of work product. This role is office-based in New Orleans, with accommodations for partial remote work possible. A competitive pay package, including health insurance and other benefits, are offered based on the candidate’s experience and skillset.

Company Description
Iris Development, a rapidly growing real estate development company focused on (affordable) housing, is hiring a Development Finance Analyst to strengthen its team’s deal sourcing and asset management capacities. Iris is located in New Orleans and New York. Today, the company manages an active development pipeline totaling over 400 units in Louisiana and New York.

Iris Development

Why Work Here?
Iris Development is a young and ambitious real estate development company with growth potential.

Iris Development, a rapidly growing real estate development company focused on (affordable) housing, is hiring a Development Finance Analyst to strengthen its team’s deal sourcing and asset management capacities. Iris is located in New Orleans and New York. Today, the company manages an active development pipeline totaling over 400 units in Louisiana and New York.

Address

1718 Saint Ann Street

New Orleans, LA
USA

Industry

Finance and Insurance

Website

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