Real Estate Analyst Intern
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Key skills for this role
Role Overview
Velair Development Company has been developing projects since 1999. We specialize in multi-unit residential housing in the Midwest and Florida. Throughout our company history we have developed over 3,000 units.
Our project success is based upon exceptional market selection and site acquisition. We pride ourselves on developing aesthetically pleasing projects that are known for quality construction.
Through partnering with reliable architects, subcontractors, engineers, planners, and designers who share in our goal and attention to detail, we have been able to consistently develop quality projects. Through careful planning, cost control, continued innovative ideas, environmentally friendly construction materials, and regular quality assurance inspections, Velair is dedicated to the project from start to finish.
Key Skills for This Role
Full Job Posting
*Underwriting/Development
Learn to assist development team in initial underwriting for future tax credit and market rate developments as needed.
Learn to assist asset management with installment releases with investor partners as needed.
Learn to assist asset management with permanent debt conversions as needed.
*Construction
Monthly Draw Meetings
Attend monthly draw meetings with General Contractor and Architect. Assist in reviewing, updating and managing Alternates List and Design Standards. Assist with submitting monthly draw packages.
Attend monthly draw meetings with General Contractor and Architect.
Assist in reviewing, updating and managing Alternates List and Design Standards.
Assist with submitting monthly draw packages.
Property Turnover – work as liaison between ownership & management.
Attend/coordinate punch walks (mock unit, all units, common area, exterior). Attend/coordinate 11-month warranty walks. Works with the Management Company on new development turnover, including schedule, procurement of furnishings, fixtures, & equipment, and rental compliance. Support as needed to learn to work with Property Management to establish first year operating budgets.
Attend/coordinate punch walks (mock unit, all units, common area, exterior).
Attend/coordinate 11-month warranty walks.
Works with the Management Company on new development turnover, including schedule, procurement of furnishings, fixtures, & equipment, and rental compliance.
Support as needed to learn to work with Property Management to establish first year operating budgets.
*Stabilized
Learn how to prepare financial analysis material.
Conducts market research on existing developments to maximize rental efficiencies.
Analyzes and generates reports and information from property management staff to ensure productive development management.
Assist in the preparation of monthly financial review and reporting to stakeholders.
Assists asset management in research and procurement of information necessary for project financial reports.
Coordinates weekly, monthly, and annual documentation required by the Management Company, lenders, and partners.
Assist in preparation of annual budgets on behalf of Ownership.
Assist in the annual insurance renewal for the entire portfolio.
Assist in coordinating annual distributions to stakeholders.
Assist in annual audit and tax return review.
Attend quarterly property inspections and review inspection reports.
Assist in overseeing bids and track all Capital Expenditures over $10,000 on behalf of Ownership.
Assist into overseeing Preventative and Ongoing Maintenance Programs to maximize Asset Value.
*Disposition/Refinance/Re-Syndication
Assist in compiling due diligence and procures necessary information related to refinancing opportunities and syndicator buyouts as needed.
Assist in working with Brokers to sell assets as needed.
QUALIFICATIONS
- To perform this job successfully, an individual must be able to perform each duty and responsibility satisfactorily. The requirements listed are representative of the education, knowledge/experience, and skills/abilities required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
--Education
Pursuing BA/BS degree in finance, real estate or related field
3.0 GPA minimum
--Skills and Abilities
- Organizing—able to coordinate delivery of resources (funding, materials, support) to assist projects to successful conclusion.
- Communications Skills—is effective in a variety of formal presentation settings, able to write clearly and succinctly in a variety of communication settings and styles, and practices attentive/active listening.
- Financial Modeling Skills – able to use a variety of tools, techniques, and approaches for modeling.
- Priority Setting—focuses efforts and time on what’s most important by identifying the critical few priorities, planning for and adjusting to problems and roadblocks, and creating focus for self and others.
- Drive- a self-starter that will seek out ways to improve efficiency and solve problems.
- Ability to work independently and in a team-oriented, collaborative environment is essential.
- Excellent analytic abilities.
- Strong computer skills in MS Office.
--Working Conditions
Majority of job performed in an office environment, frequent use of personal computer, facsimiles, copy machines and other office equipment. Occasional work on construction sites and apartment complexes that requires protective equipment that conforms to OSHA regulations.
Asset Manager may modify requirements.
Summary
Velair Development Company has been developing projects since 1999. We specialize in multi-unit residential housing in the Midwest and Florida. Throughout our company history we have developed over 3,000 units.
Our project success is based upon exceptional market selection and site acquisition. We pride ourselves on developing aesthetically pleasing projects that are known for quality construction.
Through partnering with reliable architects, subcontractors, engineers, planners, and designers who share in our goal and attention to detail, we have been able to consistently develop quality projects. Through careful planning, cost control, continued innovative ideas, environmentally friendly construction materials, and regular quality assurance inspections, Velair is dedicated to the project from start to finish.
About Velair Development Company
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