Real Estate Financial Analyst - Underwriting & Development

Vertically integrated real estate investment firm with a growing portfolio across Boston, Washington DC, and surrounding markets. The firm manages acquisitions, development, construction, leasing, and operations in-house and is building toward a private REIT platform with institutional-grade reporting and governance. This is a high-visibility role working directly with the Principal, owning underwriting, development budgeting, and portfolio-level reporting. You’ll build the financial infrastructure supporting a scaled, institutional-quality real estate platform. Responsibilities: Acquisitions & Underwriting Build detailed acquisition models with full pro formas and documented assumptions Analyze rent comps, operating expenses, capex, and returns (IRR, equity multiple, CoC, NPV) Prepare investment memos for internal and external stakeholders Maintain standardized underwriting templates Development & Construction Create and manage full development budgets (hard/soft costs, financing, contingencies) Track draws and budget vs. actuals with variance analysis Model full-cycle development returns through stabilization Build annual property budgets and quarterly reforecasts Analyze operating performance, identify trends, and drive cost efficiencies Model NNN leases, CAM reconciliations, and tenant recoveries Institutional Reporting Maintain KPI dashboards (NOI, occupancy, lease metrics, debt schedules) Support lender reporting, refinancing, and capital allocation decisions Prepare investor-ready materials and reporting packages Qualifications: 5+ years of real estate financial analysis, underwriting, or development finance Experience with institutional owners, private REITs, or investment firms Advanced Excel modeling (build-from-scratch capability required) Strong understanding of real estate valuation, capital structures, and reporting metrics Experience with development budgets, draws, and variance tracking Preferred:

Yardi, Argus, REIT reporting exposure, CFA/CAIA/CCIM

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