Blueprint Local has approximately $135M AUM in Opportunity Zone funds targeting investments in opportunistic real estate projects across the Southeast and Texas. Blueprint has executed nearly a dozen real estate investments in six cities across the Southeast, Texas, and Mid-Atlantic with pipeline investments in over a dozen cities. Examples include:
- Ground-up multifamily developments in growing cities like Austin, Houston, and Richmond
- Mixed-use urban redevelopment projects in cities like as Charlotte, NC and San Antonio, TX
- Major adaptive reuse redevelopment, including Historic Penn Station in Baltimore, MD
CONTEXT AND ROLE SUMMARY:
The Investment Associate will report to the Chief Investment Officer as a part of a broader team working to invest capital from private equity funds into multifamily and commercial real estate investments. This role will focus on analyzing and underwriting commercial real estate investment opportunities across multifamily, mixed-use, and office product types. The ideal candidate would be located in Texas, Georgia, or the DC/MD/VA area, but we will consider candidates across the Southeast.
PRIMARY RESPONSIBILIES:
Sourcing & Deal/Market/Sponsor Evaluation:
- Source and develop relationships with sponsors/developers, brokers in target markets
- Perform market research and valuation analysis of investment opportunities in different real estate sectors, including multifamily, mixed-use, and office
- Create and manage a regional investment pipeline
Underwriting Analysis & Deal Execution:
- Perform extensive due diligence on each transaction, including traveling to the markets/properties, meeting with developers, and formulating investment memos.
- Review and analyze proforma Excel models in detail from sponsors
- Create and build independent Excel proforma cash flow models with detail to aspects such as budget assumptions, financial projections, waterfalls, debt, and return metrics
- Prepare Investment Memorandums detailing market and impact analysis, sources and uses, budgets, returns analysis, comp analysis, deal risks, partner evaluation
- Participate in the execution of transaction documentation, including negotiations of LOIs and operating agreements with sponsors
Asset Management & Deal Monitoring:
- Track progress of investments (quantitative and qualitative) and communicate updates via written summaries to the internal team and external investors
- Evaluate capital events and major decisions for investments (refinancing, exit, etc.)
CORE SKILLS & COMPETENCIES (STRONGLY PREFERRED):
- 4-6 years of real estate experience, ideally with transaction and/or development experience
- Strong Excel Proforma modeling experience (5-10 year cash flow proformas, scenario analysis, LP/GP waterfall and carried interest analysis)
- Comfort with working with a very small and regionally distributed/remote team
- Knowledge of real estate legal agreements (letter of intent, joint venture agreements)
COMPENSATION: Competitive base salary commensurate with experience, plus opportunity for discretionary bonus and opportunity to earn carried interest in funds.
If interested, please apply here.
