Analyst, Development- The Grand
- US-CA-Los Angeles
- 333 South Grand Avenue
Related Companies is the most prominent privately owned real estate firm in the United States. Formed over 40 years ago, Related is a fully integrated, highly diversified industry leader with experience in virtually every aspect of development, acquisitions, management, finance, marketing and sales. Headquartered in New York City, Related has offices and major developments in Boston, Chicago, Los Angeles, San Francisco, South Florida, Washington, D.C., Abu Dhabi, London, São Paulo and Shanghai and boasts a team of approximately 3,000 professionals. The Company’s existing portfolio of real estate assets (owned and/or managed), valued at over $60 billion, is made up of best-in-class mixed-use, residential, retail, office and affordable properties in premier high-barrier-to-entry markets. Related has developed preeminent mixed-use projects such as Time Warner Center in New York and CityPlace in West Palm Beach and is currently developing the 28-acre Hudson Yards project on Manhattan’s West Side. Related also manages approximately $3 billion of equity capital on behalf of sovereign wealth funds, public pension plans, multi-managers, endowments, and family offices.
For more information about Related California please visit www.related.com.
The Analyst will be responsible for supporting the development team in all aspects of their projects including: financial analysis and modeling, deal memo preparation, equity and debt sourcing, due diligence, entitlements, legal oversight, budgeting, design, construction, operations and asset management. Title and compensation will be commensurate with the candidate’s experience and qualifications. This position is a key support position that will provide the candidate significant professional growth and exposure to all aspects of a development project. This position will be based in Los Angeles, California.
The successful candidate will be assigned to Phase I of Related’s Grand Avenue project, a 950,000 square foot landmark mixed-use project to be built on a 140,263 square foot parcel located in downtown Los Angeles directly across from the Walt Disney Concert Hall on Bunker Hill. The Frank Gehry designed project will feature two towers on a 215,000 square foot retail and entertainment podium with public plaza. Tower 1 will be developed into a 309 room Equinox hotel with meeting space and ancillary hotel amenities. Tower 2 will combine 233 market rate apartments with 90 affordable housing units and 113 market rate condominiums on the upper floors. This opportunity provides the candidate with a unique experience spanning the entire development process from conceptual design stage through completion of construction and asset stabilization/disposition with exposure to design, construction, financing, marketing, leasing, sales and operations.
- Perform financial analysis and due diligence for new development opportunities including conducting market research, assisting in underwriting and cash flow analysis, and responding to Requests for Qualifications or Proposals.
- Assist with all aspects of a development: financing, entitlement / government approvals, consultant coordination, public relations, design, leasing / marketing, and construction oversight.
- Assist in preparing business plans, including deal memorandums, equity and debt offering memorandums, annual operating plans, financial forecasts and strategic plans.
- Compile detailed financing applications for various municipal funding programs such as low income housing tax credits and tax exempt bonds.
- Assist in coordinating loan draws, forecasting project budgets and cash flows, and managing project deliverables.
- Research and analyses: benchmark economic activity in target markets by tracking rents, sales per square foot, operating costs, competitive supply and economic expansion activity.
- Minimize exposure and risk on various projects.
- Effectively communicate relevant project information to superiors.
Project Specific Responsibilities
- In conjunction with the senior management team, assist in the development of the long term business plan and strategy for development projects, expansions, renovations, etc. that are consistent with the company's strategic plan and financial objectives.
- Build and maintain a highly accurate and detailed project pro forma financial model for each project that can be used to support the project’s required financial reporting functions.
- Establish and maintain a 90-day work plan to track key decisions and action items to maintain compliance with all project entitlements, development agreements, ground leases and other documents with investors, lenders, government agencies and key stakeholders.
- Analyse and evaluate various project alternatives to determine the net present value and risk of such alternatives in order to properly advise the senior management team as to whether or not to proceed with various alternatives.
- Identify and conceive of ideas to create value throughout the development process from land acquisition through asset stabilization and or disposition.
- Evaluate proposals from investors, lenders, tenants, purchasers, operators and other sources of capital and income for impact on the project’s financial pro forma to determine the highest value among competing proposals.
- Liaise with other project disciplines such as design, construction, sales, leasing, operations, legal and finance to ensure the objectives and visions of the projects are being realized and assist the Development Manager to ensure that all disciplines are in compliance with their respective project budgets and the project schedule.
- Establish and maintain a regular reporting system to communicate to the senior management team on the status of the development of the Project including the status of the budget, schedule, government approvals, risk issues, sales, marketing, leasing and any other matters of importance concerning the development of the Project.
- Work closely with the design and construction team to secure and perfect all required entitlements and government approvals for the projects.
- In cooperation with the Development Manager work diligently to manage and maintain the professional relationship with all investors, lenders, partners and operators (collectively “Stakeholders”) and at all times demonstrating the highest level of professional standards and business ethics.
- Establish and maintain a communications strategy and regular reporting system with all Project Stakeholders in accordance with all contract provisions and standard industry practice.
- Work closely and amicably with the Stakeholders to identify and solve problems while protecting the interests of the Company.
- Minimum of 1‐3 years of relevant experience (e.g. real estate, corporate finance, investment banking, management consulting, or private equity).
- Minimum Bachelor’s Degree; MBA or MRED preferred.
- Strong quantitative, financial analysis and modeling (MS Excel) skills are a prerequisite.
- Strong project management skills, results‐driven, with ability to manage multiple deadlines.
- Complex thinker of high intelligence and demonstrates strong intellectual curiosity.
- Experience, knowledge, and understanding of real estate development a plus.
- Deal instinct and owner mentality.
- Keen attention to detail.
- High energy; possessed with drive.
- Suitability to an entrepreneurial culture that places a premium on performance.
- Must be a team player, but also a self‐starter that can perform with limited direction.
- Excellent written and verbal and communication skills.
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