Investment Management Associate, Build-for-Rent (“BFR”) – Conrex, a subsidiary of Brookfield Asset Management

Job Summary:

As a member of the investments team, the Investment Associate will execute on the company’s extensive pipeline of Build-for-Rent (“BFR”) projects across the U.S. The position will play a vital role in managing projects from acquisition, through to completion and ensure the successful handoff post stabilization as an operating asset, with periodic oversight of asset performance.

Key Responsibilities:

Acquisitions:

• Underwrite new BFR development opportunities; perform market research, determine project feasibility, model cash flow outflows / inflows, create development and operating budgets, and compile analysis in clean, concise investment memorandums
• Perform detailed reviews of development plans, schedules, budgets, home specifications, and contractor history / operations
• Draft Letters of Intent, negotiate Purchase and Sale Agreements, consultant contracts, and Joint Venture Agreements
• Run acquisition and onboarding processes, including but not limited to, due diligence management, consultant management, closing of land / new construction assets, onboarding new builders / contractors, and insurance review
• Track and contribute to firm’s acquisition pipeline report; participate in weekly investment meetings to discuss potential acquisitions and ongoing projects

Development:

• Act as owner’s representative for assets under development; attend meetings with consultants, architects, municipalities, and contractors as needed and proactively find solutions to issues that could affect project budgets, schedules, potential change orders, or project scope
• In conjunction with internal and external legal counsel, review and negotiate contracts with consultants, developers, builders, and Joint Venture partners and hold all parties accountable
• Maintain ongoing development progress reports to benchmark to budget / schedule; oversee construction draws, change order requests, and create variance reports
• Oversee construction closeout process, punch list, and acceptance of completed homes in accordance with internal processes and operations / construction teams

Additional Responsibilities

• Work with asset management and capital markets teams to finance new and existing investments
• Contribute to investment committee request, quarterly / annual company reports, and asset management reviews
• Perform ad-hoc research and projects as needed; strive to continuously improve upon internal acquisitions, development, and onboarding processes
• Oversee HOA formation as necessary, ensure appropriate levels of insurance are carried by projects and contractors, and ensure leasing and property management teams are informed of and adhering to business plans

Experience / Qualifications:

• Strong desire to grow Conrex’s BFR platform and contribute to the institutionalization of a burgeoning real estate investment asset class; a “do whatever it takes” attitude to successfully take a project from idea to successful income-producing asset
• Bachelor’s degree in construction, engineering, business management, finance, or other related field
• 3 – 5 years of applicable experience, preferably with a regional or national homebuilder; other relevant experience could be land acquisitions, land development, multifamily development, asset management, or finance related
• Proficiency with Microsoft Excel, Power Point, and Outlook
• Excellent presentation, verbal, and written communication skills