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1930 Real Estate Associate – Development - Durham, NC

The Organization:

 

Self-Help is a leading national community development financial institution headquartered in Durham, NC. Since 1980, Self-Help has provided $8.5 billion in financing to 159,000 families, individuals and businesses. It helps drive economic development and strengthen communities by providing responsible financial services; lending to individuals, small businesses and nonprofits; developing real estate; and promoting fair financial practices across the nation. The Self-Help family of nonprofit organizations includes Self-Help Credit Union, Self-Help Federal Credit Union, Self-Help Ventures Fund and the Center for Responsible Lending. Through its credit union network, Self-Help serves over 150,000 people in North Carolina, California, Chicago, Florida and South Carolina. Learn more at www.self-help.org, www.self-helpfcu.org and www.responsiblelending.org

 

Position Description:

 

Under the supervision of the Director of Business Development & Project Management, the Real Estate Associate - Development will lead and/or assist with all phases of the commercial and residential real estate process for a variety of projects at Self-Help.  This position will carry out this role by performing a wide variety of project management tasks as needed by the team, such as performing market research, creating financial pro formas, conducting due diligence, coordinating with community partners, and working on other tasks related to project predevelopment and development. The Real Estate Associate - Development will play a lead role on some projects and a supporting role on others; he/she will be a key member of the Real Estate team’s project management group, which consists of six (6) staff members.  This position may require occasional travel within and beyond North Carolina depending on specific project assignments.

Essential Responsibilities:

  • Actively participate in identifying and evaluating potential properties for acquisition, including project idea conceptualization for both commercial and residential real estate.
  • Perform detailed site analysis, including studying site constraints, zoning and entitlement requirements, and producing back of the envelope financial models.
  • Develop complex pro formas that often utilize layered financing, including sources such as New Markets Tax Credits, Historic Tax Credits, Low Income Housing Tax Credits, and more.
  • Perform market research to analyze project economics and verify assumptions used in pro forma models.
  • Actively support the property acquisition due diligence and closing process, including coordinating with third parties such as surveyors, attorneys, and environmental consultants.
  • Research existing community planning documents, and participate in community groups and neighborhood discussions to listen and learn.
  • Coordinate internal project team meetings, which typically include construction managers, leasing staff, and other Self-Help staff.
  • Over time, build relationships with community members and stakeholders, including neighborhood leaders, property owners, government staff, and elected officials.
  • Assist with the preparation and presentation of investment memoranda to secure Self-Help and third-party financing.
  • Review and comment on legal documents such as leases, loan agreements, and other financing documents.
  • Actively support the process of closing financing, including managing checklists, reviewing key documents, analyzing financial projections, and coordinating with financing partners.
  • Work closely with external design and construction teams, alongside construction management colleagues.
  • Monitor development budgets and project timelines.
  • Assist on a limited basis with leasing, reporting, asset management, and other activities needed to complete, stabilize and operate development projects.
  • Participate in other special projects as needed, in order to support the Real Estate team.

 

Minimum Qualifications:

  • BA/BS degree in Real Estate, Business, Urban Planning, Finance, Public Policy, Public Administration, Community Development or related field.
  • 2 years of relevant work experience in real estate development, project management, finance, or community development or Master’s degree in related field of study.
  • Experience with review of contracts, grant agreements, legal documents, or similar work.
  • Strong financial and analytical ability, as demonstrated by past experience and capacity to learn.
  • Good writing skills, including proficiency in email and formal memorandum writing.
  • Excellent verbal communication skills.
  • Solid organizational skills and ability to manage and balance multiple tasks.
  • Proactive thinking with detail-oriented and creative-problem solving approach.
  • Strong interpersonal skills, with the ability to work with a wide range of individuals and teams in diverse settings.
  • Ability to effectively plan, prioritize, and follow-through on work.
  • Team-based mindset and willingness to support broad team goals and initiatives.
  • Ability to form and maintain strong relationships with internal and external customers.
  • Ability to juggle multiple projects and work independently to meet goals and objectives.
  • Willingness and comfort working in community settings with diverse groups.
  • Proficiency with modeling real estate development pro formas in Excel.
  • Proficiency with Microsoft Word, Excel, and ideally other productivity tools.
  • Ability to travel may occasionally be required, plus occasional evenings and weekends.

 

Physical Requirements:

 

Frequently requires use of manual dexterity and repetitive motions, primarily with the wrists, hands, and/or fingers.  Must be able to occasionally lift and exert force of up to 10 pounds.

 

Compensation: 

 

Competitive nonprofit salary, based on experience, plus a generous benefits package.

 

Application:

 

To apply, send resume and cover letter, describing why you are a fit for this position, to hiringmanager@self-help.org. Please include the position title as the subject.  Application must be received by April 15, 2019 to ensure consideration.  Applications received after this date may or may not be considered, depending on the applicant pool.  The position will remain posted until filled.

 

Self-Help is committed to providing equal employment opportunities to all persons regardless of race, color, class, age, gender, religion, disability that can be accommodated, marital status, ancestry, nationality, family status or sexual orientation.







Self-Help is committed to providing equal employment opportunities to all persons regardless of race, color, class, age, gender, religion, disability that can be accommodated, marital status, ancestry, nationality, family status or sexual orientation.