Real Estate Analyst

NOOR COMPANIES
Real Estate Development · General Contracting
POSITION ANNOUNCEMENT
Real Estate Development Analyst
Full-Time | Remote | Reporting to the Chief Executive Officer
REPORTS TO Chief Executive Officer
EMPLOYMENT Full-time, 40 hours per week. Exclusive — the successful candidate may not hold other employment or clients.
SCHEDULE 8:00 AM – 5:00 PM US Central Time, Monday through Friday
Equivalent to 9:00 PM – 6:00 AM Manila. Night-shift availability is mandatory.
COMPENSATION Commensurate with experience
Performance review at 90 days · 13th month pay · Paid Philippine holidays
LOCATION Fully remote

THE ORGANIZATION

Noor Companies is a real estate development and general contracting firm headquartered in Minneapolis, Minnesota. We develop and build affordable housing, civic institutions, healthcare facilities, libraries, and mixed-use projects, and we are among the largest woman-owned firms of our kind in the country, with more than $500 million in completed work.
Our pipeline spans market-rate and affordable housing, public and civic solicitations, and mixed-use redevelopment, financed through conventional debt and equity as well as housing tax credits, tax increment financing, and public agency programs.
POSITION SUMMARY

The Real Estate Development Analyst supports the Chief Executive Officer across the full development lifecycle — from identifying and screening potential development sites, through underwriting and financing, entitlement, design coordination, and construction close-out.
The Analyst is responsible for the financial models that determine whether a project proceeds, the budget tracking that governs every dollar spent once it does, and the coordination and follow-up that keeps architects, engineers, consultants, lenders, and municipalities moving on schedule. This is a research-, analysis-, and follow-through-intensive position requiring precision with numbers and persistence in pursuit of information.
This position requires a technical foundation. Candidates must have education or working experience in architecture, engineering, construction, or real estate, and must be able to read and interpret architectural and civil drawings. Applications without this background will not be considered.

ESSENTIAL RESPONSIBILITIES

Site Identification & Market Research

• Search brokerage and listing platforms — LoopNet, Crexi, CoStar, Catylist, brokerage websites, and auction platforms — daily for land and redevelopment opportunities matching the firm’s criteria
• Screen candidate sites against acquisition criteria including zoning, parcel size, utility availability, access, topography, floodplain, and known environmental conditions
• Research parcel ownership, assessed value, tax status, sale history, and legal description through county assessor, recorder, and GIS systems
• Identify off-market opportunities including surplus public land, tax-forfeited parcels, obsolete or underutilized properties, and expiring-use affordable properties
• Compile land sale comparables, rent comparables, sale comparables, absorption data, and demographic and employment data for each submarket under consideration
• Prepare one-page site screening summaries with photographs, aerials, parcel maps, zoning summary, preliminary program, and order-of-magnitude economics
• Maintain the acquisition pipeline tracker recording every site reviewed, its status, owner and broker contacts, pricing, and the reason for pursuit or rejection

Financial Modeling & Proforma Analysis

• Build and maintain development proformas from scratch in Excel, including sources and uses, hard and soft cost budgets, development schedule, absorption and lease-up assumptions, stabilized operating proforma, and monthly cash flow
• Calculate and report the return metrics governing investment decisions — untrended and trended yield on cost, internal rate of return, equity multiple, cash-on-cash return, debt service coverage ratio, and loan sizing against loan-to-cost and loan-to-value constraints
• Model the full capital stack including senior construction debt, permanent debt, tax credit equity, tax increment financing, deferred developer fee, soft and gap loans, grants, and sponsor equity
• Run sensitivity and scenario analyses across construction cost, interest rate, rent, exit capitalization rate, absorption pace, and subsidy assumptions
• Update proformas as design, cost estimates, financing terms, and program change; maintain disciplined version control and document every assumption and its source
• Reconcile proforma assumptions against contractor estimates, consultant fee proposals, and lender term sheets
• Prepare summary financial exhibits for the CEO, lenders, investors, and public agency partners

Development Budget & Expenditure Tracking

• Maintain the master development budget for every active project, tracking each line item from original budget through committed, invoiced, paid, and remaining balance
• Track every dollar of spend across all projects and reconcile against the general ledger with the accounting team
• Monitor consultant and contractor contract balances, invoice against contracted fee, and flag any invoice exceeding contracted scope
• Prepare, assemble, and track predevelopment and construction draw requests to lenders and public funders, including supporting documentation, lien waivers, and inspector approvals
• Track change orders, budget amendments, contingency usage, and cost-to-complete; report variances promptly and identify the cause
• Produce monthly budget-versus-actual variance reports for each project and a consolidated report for the CEO
• Maintain the funding draw calendar and monitor sources and uses balance throughout construction

Architect, Engineer & Consultant Coordination

• Maintain the consultant roster for each project — architect, civil, structural, mechanical, electrical, landscape, geotechnical, environmental, survey, traffic, and specialty consultants — with scope, fee, contact, and contract status
• Track consultant contracts, scopes of work, fee schedules, insurance certificates, and deliverable due dates
• Maintain the design deliverables calendar across schematic design, design development, construction documents, and permit set milestones, and monitor progress against it
• Follow up persistently with architects and engineers on outstanding deliverables, drawing revisions, and responses; escalate delays to the CEO before they affect the schedule
• Log and track requests for information, submittals, design decisions, and outstanding items requiring resolution
• Organize and version-control drawing sets, specifications, reports, and studies in the project document library
• Prepare agendas for design and coordination meetings, record minutes, and distribute and track action items to closure

Entitlements & Municipal Opportunity Development

• Research zoning ordinances, comprehensive plans, overlay districts, density and height limits, parking requirements, and design standards for candidate sites
• Identify municipalities, counties, housing authorities, and economic development agencies with active development priorities, surplus land, redevelopment districts, or announced solicitations
• Set up meetings between the CEO and city planning, economic development, housing, and public works staff to identify development opportunities; prepare briefing materials in advance and track follow-up commitments after each meeting
• Monitor city council, planning commission, HRA and EDA agendas and packets for relevant items, land dispositions, and emerging opportunities
• Track entitlement milestones for each project — pre-application conference, site plan review, rezoning, variance, conditional use permit, plat approval, and public hearings
• Maintain a master calendar of submission deadlines, hearing dates, and approval expiration dates
• Research and summarize impact fees, utility connection charges, park dedication requirements, and other municipal exactions affecting project economics

Public Financing & Funding Applications

• Track application cycles and deadlines for Minnesota Housing programs including the Multifamily Consolidated Request for Proposals, 9% and 4% Housing Tax Credits, and the State Housing Tax Credit, as well as city and county funding sources
• Assemble funding application materials, exhibits, narratives, and supporting documentation, and verify completeness against agency checklists
• Analyze projects against Qualified Allocation Plan scoring criteria and identify actions that improve competitive position
• Research and summarize available incentives including tax increment financing, tax abatement, brownfield and cleanup grants, historic tax credits, New Markets Tax Credits, and energy incentives
• Maintain a consolidated funding calendar covering every source, cycle, and deadline relevant to the pipeline
• Track awarded funding through commitment, closing, and compliance milestones

Due Diligence, Reporting & Project Administration

• Maintain due diligence checklists and trackers covering title commitment and exceptions, survey, Phase I and Phase II environmental assessments, geotechnical investigation, wetland delineation, utility availability letters, and zoning verification
• Track all critical dates including purchase agreement contingency periods, option and extension deadlines, earnest money conditions, and closing dates, and provide advance notice of each
• Prepare weekly and monthly pipeline reports and project status dashboards for the CEO
• Assemble lender, investor, partner, and public agency reporting packages
• Maintain organized project files, contact directories, and the central document library across all active projects
• Document standard operating procedures and templates for recurring analytical and tracking work

REQUIRED QUALIFICATIONS

• Minimum two (2) years of professional experience in real estate development, architecture, civil or structural engineering, const