Multifamily Investment Analyst Charlotte, North Carolina

Job Description

Hawthorne Residential Partners is a privately held, North Carolina based apartment investment, development and management company with over 37,000 apartments located throughout the Southeast and Texas.   Over the past 10 years, Hawthorne has completed over $2.5 billion of transactions and has been one of the most active apartment investment companies in the Southeast.    Hawthorne’s current investment strategy is focused on development and acquiring value-add, core and core-plus multifamily in our target markets.

 SUMMARY OF FUNCTIONS: 

 The Multifamily Investment Analyst role will be an integral part of Hawthorne’s Investment Team and will provide support with all aspects of the firm’s multifamily acquisitions, dispositions and financings. 

 LOCATION:  Charlotte

 MAJOR DUTIES AND RESPONSIBILITIES

• Evaluating & Underwriting Multifamily Investment Opportunities:

• • Analyzing & Underwriting potential multifamily investment opportunities across Hawthorne’s various strategies (value-add, core, core plus, development)
  • Creating and/or maintaining complex financial models using Excel, including modeling joint venture cash flows with various promote structures, various leverage structures, sensitivity analysis and holding period analysis
  • Reviewing and Analyzing financial statements, rent rolls, operating expenses, budgets, tax bills, historical/future capital expenditures
  • Researching and evaluating multifamily performance metrics in Hawthorne’s target markets including economic data, demographics, apartment market/submarket metrics including comps, rent growth, occupancy trends, operating expenses, real estate taxes, development pipeline and barriers to entry.
  • Maintaining and updating acquisition database and pipeline reports
  • Preparing investment presentations for Hawthorne’s Investments Team for acquisitions or dispositions

• Assisting with the Acquisitions Process from Due Diligence to Closing, including:

• • Maintaining and updating Hawthorne’s acquisition checklist
  • Gathering and reviewing due diligence information
  • Obtaining and reviewing third party reports for lease file audits, PCAs, ESAs, zoning reports, appraisals
  • Analyzing rent rolls, historical financials, operational and capital budgets
  • Analyzing market rent, income & expense comps
  • Coordinating insurance and tax estimates from third party consultants
  • Refining and supporting operating and capital improvement underwriting assumptions
  • Assisting to develop investment goals/objectives for new investments
  • Assisting to secure acquisition financing, including distributing information to lenders, lender packages, lender budgets, and providing expense comps to lenders
  • Assisting in the closing process including settlement statements, lender settlement statements, and finalizing the proforma.
  • Assisting to On-board new acquisitions into the portfolio

• Assisting with the Asset Disposition Process, including:

• • Sell/hold/refinancing analysis and modeling
  • Maintaining and updating the disposition checklist
  • Gathering, organizing and distributing due diligence information to relevant parties
  • Responding to questions from brokers and coordination of buyer’s due diligence
  • Assisting in the closing process including seller settlement statements and lender settlement statements
  • Completing Disposition Return Analysis which include Investor Returns, Investor Proceeds, Waterfall/Promote Analysis
  • Assisting with the off-boarding process including loan payoff letters, closing settlement statements, and coordinating with investor accounting

• Assisting with Financing Activities, including:

• • Assisting with refinance and supplemental loan activities for Hawthorne’s portfolio
  • Obtaining and reviewing third party reports for PCAs, ESAs, zoning reports, appraisals
  • Assisting with securing financing, including distributing information to lenders, creating lender packages, lender budgets, and providing expense comps to lenders
  • Overseeing the closing process including loan payoff letters, closing settlement statements, and coordinating with investor accounting

SKILLS, KNOWLEDGE AND PERSONAL CHARACTERISTICS:

• Excellent communication, analytical and quantitative skills
• Ability to manage multiple, competing priorities in a fast-paced environment.
• High level of resourcefulness, organization, and attention to detail and presentation skills.
• Undergraduate degree in Real Estate or Finance preferred
• Experience multifamily investment analysis preferred
• Exceptional proficiency with MS Excel and Microsoft Excel Certification preferred  
• Ability to create and operate complex apartment and partnership financial models (in excel), including XIRR, preferred return scenarios, portfolios, equity waterfalls, pivot tables, sensitivity analysis, etc.
• Intermediate knowledge of key investment metrics (Cap Rates, Internal Rate of Return, Cash on Cash Return, Return on Cost, Equity Multiple)
• Intermediate knowledge of complex ownership, joint venture structures and joint venture promote terms and calculations (including preferred return, promote, catch up, etc.)