Development Associate

Job Description

General Summary:

This position supports management and financial analysts in formulating asset strategies and evaluating projects from both financial and non-financial perspectives.   

Responsibilities include: conducting due diligence utilizing financial models, real estate documents, investment criteria and other relevant information to effectively evaluate Rockefeller  Group Development Corporation (“RGDC”) development project feasibility; supporting the analysis, reporting and presentation needs of the development team; participating in formulating and negotiating agreements with partner/investors and other appropriate individuals; assisting in developing proposed annual and long-range operating and capital expenditure budgets and plans for RGDC and RGDC projects; and assisting Financial Analysts as needed.

Summary of Key Duties and Responsibilities:

• Formulates and implements systems for financial analyses of development projects and of proposed asset sales
• Prepares, updates, and maintains financial models related to real estate transactions
• Conducts ROI analysis for potential acquisitions of new properties or expansion of current properties
• Coordinates with RGI and RGDC corporate departments to collect data, prepare budgets, project financials, and determine financing options.  Departments include Development Accounting, Business Analysis, Treasury, Legal and Tax
• Participates in formulating and negotiating agreements with partner/investors and other appropriate individuals
• Reads proposals and analyzes major lease transactions
• Develops, updates, and evaluates operating expense, cash flow, and income projections against established budgets and operating proformas
• Assists Divisional Controller, Development Accounting in monitoring development cost performance
• Mentors Financial Analysts as needed
• Gathers and evaluates economic, demographic, and real estate market data
• Assists in review of leases, legal documents, and other materials as part of the due diligence process
• Assembles and summarizes data and provides recommendations to management
• Assists in developing proposed annual and long-range operating and capital expenditure budgets and plans for RGDC and RGDC projects
• Works with real estate and construction colleagues nationally and globally to develop and evaluate strategic opportunities for the Rockefeller Group's development portfolio
• Develops, drafts, and prepares reports and presentations to support RGDC's corporate asset strategy and real estate initiatives, strategic studies, and lease transactions
• Analyzes variances of forecasted and actual results to determine accuracy of projections and financial status of projects
• Recognizes and informs management of business issues and opportunities which may affect project facilitation
• Produces and delivers oral and written presentations accurately and effectively.
• Updates job knowledge through reading publications, participating in professional organizations, and attending formal training as appropriate
• Performs other duties as assigned

Education Requirements:

Bachelor’s degree, with preferred field of education in Business; Graduate degree in Finance preferred

Experience / Knowledge / Skills Requirements:

• Minimum of 5-7 years of work experience within related work areas
• Working knowledge of financial statements, investments and/or taxes required; and prior IRR, NPV, budget preparation, scenario analysis/proformas experience preferred
• Proven ability to build Excel models from scratch
• Proven experience with modeling waterfalls
• Fundamental understanding of real estate operations and/or prior experience with lease, loan, financing and/or partnership agreement documents required
• Ability to track and analyze information to formulate appropriate recommendations
• Excellent skills utilizing Excel, Word,  relational databases and PowerPoint or other presentation software
• Basic knowledge of ARGUS (or equivalent real estate cash flow modeling software) preferred
• Excellent analytical skills and strong written and verbal communication skills
• Independent and team project management skills required