Underwriting Analyst, Studio Build at Amherst
Amherst is revolutionizing the way U.S. real estate is priced, managed and financed in order to unlock opportunities for all market participants. Driven by data, analytics, and technology, Amherst has a 20-year history of anticipating where the next risks and opportunities are likely to emerge and designing actionable strategies for investors to capitalize on opportunities across residential real estate, commercial real estate and public securities. Amherst, along with its affiliates and subsidiaries, has more than 900 employees, $5 billion under management and approximately $15 billion under advisement and oversight. www.amherst.com.
Amherst Homes seeks an Underwriting Analyst, Studio Build to support the growth and prosperity of a nascent investment strategy. The Studio Build group focuses on the acquisition of vacant lots and the development of modular build-to-rent homes in select markets across the US. Via partnerships with various modular home builders throughout the country, Amherst manages the construction and on-site installation of pre-fabricated homes on acquired lots. The Underwriting Analyst’s primary responsibility includes growing the Studio Build portfolio in an accretive manner by underwriting and acquiring vacant lots that exceed minimum return hurdles across Amherst target markets. The candidate will significantly impact a growing team at Amherst.
Underwrite and acquire vacant lots via multiple channels (MLS, off-market, bulk sellers, etc.)
Determine the optimal pre-fabricated home product expected to generate the highest risk-adjusted return (Going-in Cap Rate, IRR, etc.)
Scenario Analysis – Analyze various scenarios related to acquisitions and asset management by creating excel models from scratch
Coordinate with Amherst’s construction team to determine that expected development costs (purchase price from manufacturer, on-site pad development, freight, etc.) remain accurate due to quickly changing market dynamics. Integrate all pricing changes into investment models.
Facilitate entry into new markets by researching/synthesizing zoning ordinances and incorporating this information into an investment model
Work with Amherst’s Sales & Trading team to improve the quantity and quality of lot sourcing opportunities
Work with Amherst’s technology department to optimize the bespoke software used by the Studio Build team
Desired Skills & Experience:
Bachelor’s degree required, specialty focus on Real Estate underwriting a plus, with 2+ years of experience
Strong verbal and written skills to communicate effectively with internal and external professionals
Candidate should be extremely detail-oriented and organized with a proven ability to work well in a high-intensity environment to complete tasks quickly and effectively
Capable of handling multiple tasks at once
Strong skills in Microsoft Excel and PowerPoint
Ability to model deals/scenarios from scratch in excel
Our full-time employee benefits include:
- A competitive compensation package, annual bonus, 401k match
- Flexible PTO including 7 paid holidays, 1 floating holiday, and 1 volunteer day
- Employer-paid benefits (medical, dental, vision, health savings account)
- Professional career development and reimbursement
- Up to 16 weeks paid maternity leave; up to 4 weeks of paid parental leave
- Backup childcare offered through Bright Horizons
- Relaxed casual environment with virtual office events
Amherst is proud to be an Equal Opportunity Employer and committed to creating an inclusive environment for all employees. We do not discriminate on the basis of race, color, religion, national origin, gender, pregnancy, sexual orientation, gender identity, age, physical or mental disability, genetic information or veteran status, and encourage all applicants to apply.