MEICON GROUP
Website:
meicongroup.com
Job details:
About the Role
We are seeking an experienced Real Estate Analyst to support the underwriting, valuation, financing, development, and asset management of large-scale mixed-use projects valued at $150 million or more in the New York City metropolitan area.
Based in Hyderabad, the analyst will work directly with the developer group and coordinate with promoters, lenders, limited partners, consultants, and other project stakeholders. This role provides hands-on exposure to the full development lifecycle, including feasibility analysis, acquisition, financing, design and entitlement, construction, stabilization, refinancing, asset management, and disposition. This is a unique opportunity to work closely with senior decision-makers and gain comprehensive, practical exposure to major real estate developments.
Key Responsibilities Development Underwriting and Financial Modeling
- Build, audit, and maintain detailed Excel financial models for mixed-use projects incorporating residential, retail, office, hospitality, parking, and other commercial uses.
- Prepare development pro formas covering land acquisition, hard and soft construction costs, contingencies, project phasing, financing costs, operating assumptions, lease-up, sales absorption, and exit strategies.
- Use Argus Enterprise to analyze commercial leases, property-level cash flows, tenant reimbursements, leasing commissions, tenant improvements, and asset valuations.
- Evaluate investment returns and credit metrics, including DCF, IRR, NPV, equity multiple, yield on cost, debt yield, DSCR, LTV, and LTC.
- Perform sensitivity and scenario analyses to assess the effects of cost overruns, construction delays, interest-rate changes, rents, absorption, vacancy, and exit capitalization rates.
- Update underwriting assumptions as project designs, budgets, schedules, financing structures, and market conditions evolve.
- Review and validate model inputs, calculations, assumptions, and outputs to ensure accuracy and consistency.
Valuation, Appraisal Review and Due Diligence
- Perform valuation research using borrower-provided financial documents, prior appraisal reports, market reports, and comparable property data.
- Review loan documents, rent rolls, leases, operating statements, financial statements, construction budgets, development schedules, and historical property performance.
- Extract, organize, and analyze appraisal information, including comparable sales, rental rates, operating expenses, capitalization rates, and discount rates.
- Compare information across source documents, financial models, third-party reports, and appraisal reports.
- Investigate discrepancies, obtain clarification, and document how issues were resolved.
- Assess the reasonableness of appraisal and underwriting assumptions and identify material gaps, inconsistencies, and risks.
- Support due diligence relating to zoning, entitlements, taxes, environmental matters, design, construction, leasing, and project schedules.
Capital Markets and Financing
- Work directly with the developer group, promoters, lenders, limited partners, and advisors on project financing and investment analysis.
- Support the evaluation of construction loans, bridge financing, permanent financing, mezzanine debt, preferred equity, and common equity.
- Analyze capital structures, loan sizing, financing terms, repayment requirements, covenants, and funding schedules.
- Model joint venture economics, including capital contributions, preferred returns, promote structures, and equity distribution waterfalls.
- Compare lender and investor proposals and assess their effect on project feasibility, liquidity, risk, and investor returns.
- Prepare credit and investment memoranda, lender submissions, financing packages, and presentations for investors and senior stakeholders.
- Maintain due diligence checklists and transaction data rooms, track outstanding information, and support financing and closing processes.
- Participate in lender and investor calls, understand questions and requirements, coordinate follow-up items, and incorporate decisions into the financial analysis.
Developer and Stakeholder Coordination
- Participate in regular calls with promoters, lenders, limited partners, investors, attorneys, consultants, and other project stakeholders.
- Develop a comprehensive understanding of each project’s business plan, approvals, design, construction strategy, financing structure, leasing or sales program, and exit strategy.
- Prepare financial analyses and supporting materials for development, financing, investment, and asset-management discussions.
- Document key decisions, assumptions, action items, risks, and outstanding information arising from stakeholder meetings.
- Coordinate across development, construction, design, legal, finance, and advisory teams to obtain and validate required inputs.
- Follow up on deliverables and help keep financial, financing, and due diligence workstreams on schedule.
- Clearly communicate complex financial findings to both financial and non-financial stakeholders.
Asset Management and Performance Monitoring
- Support asset management through budget reviews, cash-flow forecasting, leasing analysis, capital-expenditure tracking, and business-plan monitoring.
- Compare actual performance against underwriting and explain variances in revenue, expenses, project costs, schedules, cash flow, and investment returns.
- Update financial models to reflect construction progress, leasing activity, financing changes, capital expenditures, and evolving market conditions.
- Assist with capital planning, draw forecasting, refinancing analysis, recapitalization, and hold-versus-sell evaluations.
- Prepare property and portfolio reports summarizing performance, risks, upcoming decisions, and recommended actions.
- Monitor compliance with lender, investor, and joint venture reporting requirements.
Market Research and Analysis
- Research NYC metropolitan area submarkets, comparable developments, rents, sales prices, vacancy, absorption, operating expenses, and capitalization rates.
- Monitor competing projects, new supply, demographic trends, financing conditions, and other market factors affecting development performance.
- Evaluate third-party market studies and compare their conclusions with internal underwriting assumptions.
- Organize market data and provide concise findings to support investment and development decisions.
Process Management and Quality Control
- Follow established operating procedures, documentation requirements, and quality-control standards.
- Maintain accurate data inputs, organized source documents, assumption logs, model version control, and audit trails.
- Organize and prioritize multiple assignments while meeting deadlines and maintaining accuracy.
- Independently identify issues, clarify questions, and escalate material concerns with supporting analysis.
- Take ownership of assigned workstreams and ensure stakeholder requests and project deliverables are completed on schedule.
- Help improve financial models, reporting templates, databases, and analytical processes.
Required Qualifications and Skills
- 5+ years of relevant experience in commercial real estate underwriting, development analysis, capital markets, mortgage or credit analysis, appraisal support, valuation services, asset management, or real estate financial analysis.
- Bachelor’s degree in Finance, Real Estate, Economics, Accounting, Business Administration, or a related field.
- MBA in Finance or Real Estate, or another relevant master’s degree, preferred.
- Strong financial-modeling and underwriting skills, with a clear understanding of development economics, property valuation, and debt and equity financing.
- Advanced Excel proficiency, including experience building, reviewing, auditing, and maintaining complex real estate models.
- Working proficiency in Argus Enterprise for commercial property cash-flow modeling and valuation.
- Strong understanding of development pro formas, discounted cash flow analysis, investment returns, loan sizing, and property-level financial performance.
- Knowledge of financial and appraisal reports, valuation terminology, and the income-capitalization, sales-comparison, and cost approaches.
- Familiarity with loan documents, rent rolls, leases, operating statements, financial statements, construction budgets, draw schedules, and market reports.
- Asset-management skills, including budgeting, forecasting, variance analysis, leasing analysis, and property-performance monitoring.
- Ability to understand development discussions, identify their financial implications, and incorporate decisions into project models and reports.
- Confidence participating in calls with senior developers, promoters, lenders, investors, limited partners, and professional advisors.
- Strong organizational skills and the ability to prioritize assignments, maintain detailed records, and follow tasks through completion.
- Ability to work with limited supervision, exercise independent judgment, and proactively resolve or escalate questions.
- Excellent written and verbal communication skills.
- Willingness and ability to work evening/U.S. shifts from Hyderabad.
Preferred Experience
- Experience supporting U.S. or EMEA commercial real estate investments, developments, lending, valuations, or portfolios.
- Direct exposure to large-scale mixed-use projects valued at $150 million or more, construction financing, and phased development underwriting.
- Familiarity with the NYC metropolitan real estate market and development environment.
- Experience working directly with developers, promoters, lenders, limited partners, institutional investors, and professional advisors.
- Experience with joint venture structures, preferred equity, equity waterfalls, lender reporting, and investor reporting.
- Working knowledge of SQL, Alteryx, and/or Python for data preparation, validation, and analysis.
- Argus Enterprise certification.
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