Monroe Group Ltd.
Development Associate
Monroe Group Ltd., Denver, Colorado, United States, 80285
Job Type
Full-time
Description
Development Associate
The Development Associate is responsible for supporting the Development Managers during the development-period project life of affordable and Low-Income Housing Tax Credit (LIHTC) transactions from the time a property is under contract and/or Letter of Intent, through the time when all development funds have been disbursed. Steele Properties, LLC specializes in affordable and LIHTC multi-family acquisitions nationally. We are especially focused on Project-Based Section 8 preservation redevelopments and are in an aggressive acquisitions mode. Headquartered in Denver, Colorado, we specialize in the redevelopment and management of affordable multi-family communities nationally. Steele Properties has successfully completed over $1 billion in acquisitions, sales, and development activity. The firm's holdings include 80+ properties totaling 9,000+ apartments in 26 states.
ESSENTIAL FUNCTIONS:
Under the supervision of the transaction Development Manager and VP Development:
Make presentations to the Investment CommitteeUnderwrite multi-family real estate investment opportunities nationallyCorrespond with owners and brokers to gather due diligenceConduct market researchAnalyze LIHTC and other affordable housing programs nationally to determine project feasibilityAssists with coordination of project management goals of multiple affordable housing transactions, including the acquisition, development, refinancing, and/or rehabilitation of affordable housing projects, including through the use of LIHTC as instructed by the Project ManagerAssists with working with Fannie/ Freddie / FHA etc. lenders to secure debt for new acquisitions and refinancingAssists with working with the project team on various tasks needed to complete affordable housing funding applicationsAssists with ongoing financial modeling of the developmentSupports and may oversee the progress of seller, buyer, and lender due diligence checklistsProvides research and analytical assistance to the Development ManagerTracks project status, coordinates meetings, tracks deliverables both internally and externallyOrders and critically reviews third-party reports for development projectscoordinates and assembles funding draw requests during construction for review by the Development Manager, ensuring adherence to approved project budget; obtains funding approval of financial partners; oversees the facilitation of funds once released to ensure timely payment/reimbursement of project costs; tracks interest payment deadlines during constructionCommunicates with internal clients and external vendorsWhere is the job located?
Denver, CO
Why join the Monroe Team?
Monroe Group is one of the country's fastest-growing affordable housing management companies with a portfolio of 80+ affordable communities, 9,000 units in Twenty-six (26) States, and growing. We believe in building Teams, each voice is heard and valued!
Great benefits!
Monroe Group offers medical, dental, and vision insurance including a Flexible Spending Account and Health Savings Account. We provide company-paid life insurance along with short and long-term disability insurance options, 11 paid holidays, vacation, sick time, and a 401k program with a company match of up to 4%.
Compensation:
$75K - $85K annual salary$1,500 Deal Closing BonusFlexible scheduleRequirements
EDUCATION and EXPERIENCE :
Bachelor's Degree, preferably in a business, real estate, or communications fieldDemonstrated capacity to learn real estate/development business and principles; 1-3 years in real estate development, brokerage, or related business field is preferredStrong people and project management capabilities that forge high-performing and working relationships with internal and external team membersExcellent analytical skills, proficiency in Excel, and willingness to learn Excel and financial modelingExcellent verbal and written communication skillsExcellent presentation and interpersonal skillsSelf-starter; highly motivated and adaptable
Salary Description
$75 - $85K
Full-time
Description
Development Associate
The Development Associate is responsible for supporting the Development Managers during the development-period project life of affordable and Low-Income Housing Tax Credit (LIHTC) transactions from the time a property is under contract and/or Letter of Intent, through the time when all development funds have been disbursed. Steele Properties, LLC specializes in affordable and LIHTC multi-family acquisitions nationally. We are especially focused on Project-Based Section 8 preservation redevelopments and are in an aggressive acquisitions mode. Headquartered in Denver, Colorado, we specialize in the redevelopment and management of affordable multi-family communities nationally. Steele Properties has successfully completed over $1 billion in acquisitions, sales, and development activity. The firm's holdings include 80+ properties totaling 9,000+ apartments in 26 states.
ESSENTIAL FUNCTIONS:
Under the supervision of the transaction Development Manager and VP Development:
Make presentations to the Investment CommitteeUnderwrite multi-family real estate investment opportunities nationallyCorrespond with owners and brokers to gather due diligenceConduct market researchAnalyze LIHTC and other affordable housing programs nationally to determine project feasibilityAssists with coordination of project management goals of multiple affordable housing transactions, including the acquisition, development, refinancing, and/or rehabilitation of affordable housing projects, including through the use of LIHTC as instructed by the Project ManagerAssists with working with Fannie/ Freddie / FHA etc. lenders to secure debt for new acquisitions and refinancingAssists with working with the project team on various tasks needed to complete affordable housing funding applicationsAssists with ongoing financial modeling of the developmentSupports and may oversee the progress of seller, buyer, and lender due diligence checklistsProvides research and analytical assistance to the Development ManagerTracks project status, coordinates meetings, tracks deliverables both internally and externallyOrders and critically reviews third-party reports for development projectscoordinates and assembles funding draw requests during construction for review by the Development Manager, ensuring adherence to approved project budget; obtains funding approval of financial partners; oversees the facilitation of funds once released to ensure timely payment/reimbursement of project costs; tracks interest payment deadlines during constructionCommunicates with internal clients and external vendorsWhere is the job located?
Denver, CO
Why join the Monroe Team?
Monroe Group is one of the country's fastest-growing affordable housing management companies with a portfolio of 80+ affordable communities, 9,000 units in Twenty-six (26) States, and growing. We believe in building Teams, each voice is heard and valued!
Great benefits!
Monroe Group offers medical, dental, and vision insurance including a Flexible Spending Account and Health Savings Account. We provide company-paid life insurance along with short and long-term disability insurance options, 11 paid holidays, vacation, sick time, and a 401k program with a company match of up to 4%.
Compensation:
$75K - $85K annual salary$1,500 Deal Closing BonusFlexible scheduleRequirements
EDUCATION and EXPERIENCE :
Bachelor's Degree, preferably in a business, real estate, or communications fieldDemonstrated capacity to learn real estate/development business and principles; 1-3 years in real estate development, brokerage, or related business field is preferredStrong people and project management capabilities that forge high-performing and working relationships with internal and external team membersExcellent analytical skills, proficiency in Excel, and willingness to learn Excel and financial modelingExcellent verbal and written communication skillsExcellent presentation and interpersonal skillsSelf-starter; highly motivated and adaptable
Salary Description
$75 - $85K