Real Estate Development Associate

Presbyterian Homes & Services is seeking a Real Estate Development Associate to join their team at Senior Housing Partners.

 

Senior Housing Partners, a wholly owned subsidiary and the real estate arm of PHS, specializes in developing, acquiring, and rehabbing multi-family senior housing with a goal of developing and preserving senior housing. The properties owned and operated by PHS have robust resident services to assist residents.

The Development Associate is a member of a development team, with each team responsible for managing several projects in various stages of development. The Associate supports the successful execution of assigned projects by coordinating and completing key activities related to property acquisition, pro forma financial analysis, debt and equity financing, loan closings, project planning, and construction administration.

 

Key Responsibilities included but are not limited to:

• *Manage day-to-day tasks for assigned development projects and pipeline activities, including maintaining databases, spreadsheets, schedules, budgets, financing records, construction administration documentation, and lease-up trackers.
• Assist in analyzing the financial feasibility of properties considered for development, acquisition, and redevelopment, including performing pro forma financial analysis.
• Prepare pro forma development budgets and property operating budgets under the direction of leadership.
• Coordinate the preparation of requests for proposals, bid solicitations, contracts, and other project documents.
• Perform site visits of potential property acquisitions and assist leadership in market analysis and preparation and review of due diligence reports.
• Solicit consultant and contractor services for due diligence, design, and construction; review and evaluate responses; and support selection and engagement of service providers.
• Assist with the preparation of debt and equity financing applications and support the project team in closing debt and equity financing, including coordinating required documentation and managing the closing checklist.
• Assist leadership with the construction administration process by coordinating the flow and filing of construction documents, and analyze progress against project schedule.
• Prepare accurate and timely internal and external reports on project budgets, schedules, financing, construction administration, lease-up activities, and overall project progress.
• Support neighborhood and community development planning efforts and prepare presentations for meetings with tenants, stakeholders, and government officials.

• Bachelor's degree required; master's degree in related field (real estate, urban planning, architecture, business or finance) preferred.
• Demonstrated basic knowledge of real estate development, finance, design, and management.
• Demonstrated basic knowledge of due diligence and financial underwriting.
• Experience with financial analysis using Excel or similar spreadsheet program is required.
• Experience with GIS software is a plus.
• Strong writing and editing skills and experience conducting research and analysis.
• Proficiency with Word, Excel, and PowerPoint is required; proficiency with MS Project is preferred.
• Must be a team player with flexibility, personal integrity, and strong attention to detail.
• Excellent oral, written, and interpersonal communication skills.
• Ability to work within specific timelines and travel up to 10% of the time.
•  Demonstrated ability to read, write, speak and understand the English language to communicate with all customers.
• Demonstrated compatibility with PHS' mission and operating philosophies.

The estimated starting pay range for this role is in $32.45 to $40.55 Hourly. This good faith estimate is based upon PHS’s typical starting pay range for this role. Actual pay range depends upon many factors including each individual employee’s qualifications and market conditions and is subject to change.

Full-time benefits-eligible employment begins at a minimum of 30 hours per week:

• Health, and dental, including applicable HSA & FSA
• Employer Contribution to HSA for eligible Health Plans
• Life insurance (AD&D)
• Retirement, with eligibility for an employer match
• Holiday pay and extended sick

 

Full and Part-time benefits-eligible employment working between 20-29 hours per week:

• Vision insurance
• Voluntary short-term & long-term disability
• Accident & hospitalization coverage
• Education assistance programs

 

All employees:

• Accrue PTO (Paid time off)
• Same-day pay
• Employee assistance program (EAP)
• College partnership educational discounts
• Access to Learn to Live Resources

Presbyterian Homes & Services (PHS), based in St. Paul, Minnesota, is a nonprofit, faith-based organization providing a broad array of high-quality housing choices, care and services options for older adults. Some 8,000 employees serve more than 41,800 older adults through 60 PHS-affiliated senior living communities in Minnesota, Iowa and Wisconsin, and through Optage^® home and community services. PHS is also co-owner of Genevive, the largest geriatric primary care practice in Minnesota, providing comprehensive care for more than 15,500 older adults. Established in 1955, PHS has earned the reputation as an innovative leader dedicated to promoting independence, purposeful living and the overall well-being for those they serve. Today, PHS is one of the largest nonprofit providers of senior housing and services in the nation.

 

 

PHS is an EEO/AA employer. All applicants will receive consideration for employment regardless of their race, color, creed, religion, national origin, sex, sexual orientation, disability, age, marital status, or status with regard to public assistance.