Real Estate Development Analyst

About Banneker

Banneker Ventures is a dynamic and fast-growing real estate development, construction, advisory, and property management firm dedicated to building vibrant, sustainable communities throughout the Washington, DC metropolitan area. With a reputation for excellence, Banneker recently expanded its operations to include a Property Management division. The role we are seeking to fill offers the unique opportunity to lead and shape this new division, directly impacting the long-term growth and success of the firm.

Its real estate development division prides itself on helping to solve the affordable and workforce housing problem in the Washington Metropolitan region. It is currently working on $1.5 billion in projects, and 2 million square feet of housing, retail, office, and entertainment space throughout Washington DC, Maryland, and New York City. Its mission is to ensure that every family has a safe, quality, and affordable place to live while creating opportunities for those who have historically not had the opportunity to work on and be part of large-scale development and construction projects.

Job Overview

The Real Estate Development Analyst leads the entire lifecycle of development projects by conducting financial modeling, market research, and due diligence to evaluate project viability. This person is responsible for creating pro formas, managing project budgets, analyzing zoning and entitlements, and preparing financing memorandums for stakeholders. This position reports to the Company’s President and the Vice President of Development and has a performance-based growth path.

Key Responsibilities:

Duties will include, but are not limited to the following:

Financial Modeling & Analysis

• Build, maintain, and update detailed financial models (pro formas) to analyze cash flow, returns on investment (IRR, NPV), and project profitability. 
• Add build or adjust financial models to reflect different investment thesis or exit scenarios for a project during the feasibility/predevelopment phase.

• Conduct detailed real estate market and competitive position research, financial and statistical analyses, and report preparation and assembly to support business operations.

Due Diligence & Acquisition

• Research potential sites, evaluate land, review legal documents, and coordinate third-party reports (e.g., environmental, geotechnical). 
• Prepare due diligence records, including final pro forma, property valuation files, and third-party reports for record retention.
• Provide analytical support for acquisition, financing, restructuring, hold/sell scenarios, and dispositions.

Market Research Section

• Conduct market research to support or validate the assumptions made in proformas, i.e., rent levels, operational costs, lending assumptions, etc.
• Summarize findings to help inform investment and portfolio strategies.

Project Management & Entitlements

• Support the entitlement process by interacting with municipalities, zoning boards, and design teams (architects, engineers). 

Budgeting & Reporting

• Track budgets and expenditures for comparison to what was carried in the proformas.
• Perform a variety of financial modeling techniques to implement plans and budgets consistent with Banneker Ventures’ development, acquisition, financing, leasing, operating, and disposition strategies. 
• Monitor project performance and investment returns for investors.
• Use MS Excel-based financial models in support of evaluating and underwriting prospective equity and debt investments.
• Assist asset managers in analyzing, monitoring, and managing specific investments from closing through the final investment disposition process, including construction draw processing and reporting requirements.
• Prepare ad-hoc reports as needed.

Qualifications:

• Minimum of 5 years’ experience in multi-family or mixed-use real estate transactions.
• Experience with Low Income Housing Tax Credits is required.
• Experience with other subsidies (tax-exempt bond financing, New Market Tax Credits, Historic Tax Credits, AHP grants, etc.) is a plus.
• Exceptional written and verbal communication skills, as well as interpersonal and relationship-building skills.
• Advanced proficiency with MS Excel and ability to create pro forma financial models. 

• Must be proactive in improving financial models, adding elements such as macros and formulas to automate calculations. 
• Demonstrate solid analytical and critical thinking skills and effective verbal and written communication; have the ability to attempt to understand and appropriately articulate financial considerations, market demand, project feasibility, financing, and environmental considerations related to sound investments.
• Must be highly detailed and possess excellent financial, mathematical, and statistical skills, and can often work with complex databases and/or quantitative tools with proficiency and accuracy for extended periods of time. 

Skills/Abilities:

• Willingness to do whatever level work internal clients require, from very basic to extremely complex.
• Prioritizes and manages competing and sometimes conflicting priorities.
• Highly effective in a close-knit organization.
• Willingness to work flexible hours and in a collaborative, dynamic, team-based environment.

• Creative and results-oriented, with a strong sense of urgency.

• Must have a strong work ethic and remain committed to meeting deadlines.

• Successful development management experience on projects in ground up multifamily and/or mixed-use projects.
• Highly entrepreneurial and self-motivated, with the ability to work well independently as well as in a team environment.

Education:

• BS in Finance, Engineering, Construction Management, Real Estate, or related field.
• MBA (with real estate focus) or Master's in Real Estate preferred but not required.