Workforce Housing Analyst

About Cirrus Real Estate Partners

Cirrus Real Estate Partners' actions are based on the firm's core values: fair dealing, fiduciary responsibility and mutual respect. Cirrus' value-based investment approach is grounded in a deep and granular understanding of the base factors which drive real estate performance generated through the 25+ year average commercial real estate and capital markets experience of its partners.

This experience spans multiple cycles and includes the origination of over $150 billion of commercial real estate credit products and the investment of over $10 billion of commercial real estate equity. While firmly anchored in long-term real estate fundamentals, Cirrus' approach is purposefully designed to adapt to the unique characteristics of each investment cycle.

Cirrus' proprietary framework is designed to generate consistent, attractive returns through identifying investments that offer asymmetric risk-return profiles and significant downside protection while integrating direct, active asset management to ensure favorable outcomes for its stakeholders.

Cirrus Workforce Housing is a developer of institutional quality workforce housing assets intended for New York City's essential workers. Cirrus Workforce Housing invests on behalf of institutional pension funds to deliver superior risk adjusted returns over long term investment horizons.

In this role, the potential candidate will support the Cirrus Workforce Housing deal team assisting in the underwriting and diligence of potential investments.

Position Overview

As an analyst, the potential candidate will analyze and execute attractive risk-adjusted return real estate equity investments as well as perform asset management responsibilities with members of the team. The time allocation is expected to be ~75%/~25% between Investment/Acquisitions and Asset Management. The potential candidate will need to possess relevant experience and an interest in working on complex assets/transactions. The potential candidate should be able to maintain strong attention to detail, handle changing workload priorities and show excellent communication and organizational skills.

Investments/Acquisitions

• Support the deal team in all aspects of workforce housing development
• Underwrite potential investments in ground-up developments of workforce housing involving complex capital structures
• Assist senior team members in the production of investment committee materials
• Conduct due diligence on potential investments including market research, demographic analysis, budget analysis, site analysis, and federal and state regulatory data
• Coordinate third parties in the diligence and underwriting process
• Assist in the preparation of applications for state and local workforce and affordable housing finance programs including LIHTC, NJ Aspire, and NYC HPD Mix and Match, among others

Asset Management/Investor Relations

• Support the asset management team in ongoing reporting of asset performance and business plan execution
• Assist in the preparation of quarterly investor updates
• Assist in the preparation of investor marketing materials

Education, Qualifications and Requirements

• Proficient with Microsoft Office, including Word, Excel, Powerpoint;
• Prior real estate investment or development experience of 1-3 years required
• Knowledge of affordable housing subsidy programs preferred
• Bachelor's Degree from a four-year college or university
• Strong writing, proofreading and verbal communication skills
• Proven track record of excellent follow-through and accountability
• Outstanding organizational skills and meticulous attention to detail
• Ability to prioritize tasks and execute multiple projects simultaneously
• Ability to work independently and a self-starter with a positive, can-do attitude
• Flexible and able to meet changing work needs and demands