Capital Markets Analyst - Real Estate

DevCo is seeking a full-time Capital Markets Analyst to join our team in Minneapolis, MN in a hybrid in-office capacity. Reporting to the President, Finance & Investment at DevCo Residential Group, the Capital Markets Analyst supports Development, Construction, and Asset Management functions by providing financial modeling, reporting, and analytical support. The Financial Analyst works closely with senior leaders to evaluate transactions, monitor performance, and support informed decision-making across the organization. 

Mission:

DevCo Residential Group’s mission is to develop, construct and manage high-quality multifamily housing that provides stability, fosters growth and delivers long-term value to our residents and stakeholders.

Vision:

DevCo’s vision is to be a leading developer, builder and manager of quality multifamily  housing throughout the western US.

Values:

• Quality:                We deliver excellence in every aspect of our work.
• Commitment:       We honor our promises with unwavering dedication.
• Teamwork:           We achieve more together through collaboration and respect.
• Integrity:               We uphold the highest ethical standards in all we do.

Pay Details: $85,000 to $115,000 in annual salary performance bonus target of 10%

Schedule: Monday-Friday 8am-5pm (Hybrid in-office format as agreed upon with hiring manager)

Benefits Offered

• 100% company paid medical benefits for employee coverage.
• 100% company paid dental and vision benefits for employee coverage.
• Healthcare and dependent care flexible spending accounts.
• Company paid life insurance, AD&D and long-term disability benefits for employee coverage.
• Best-in-class voluntary insurance benefits.
• Pre-tax and Roth 401(k) programs with a company match equal to 100% of the first 4% contributed by the employee.
• Discretionary bonus programs.
• Eligibility for a 30% housing discount consideration.
• Employee assistance program (EAP) with 24/7 counseling service
• Company-sponsored industry training and certifications.
• 3 weeks of paid time off each year.
• Up to 12 paid holidays each year

 Responsibilities: 

• Build and maintain financial models for development, acquisition, and refinancing transactions. 

• Support underwriting for both conventional and affordable housing projects, including LIHTC, bond, and other complex financing structures. 

• Analyze development budgets, operating pro formas, tax and capital account projections, and cash flow projections. 

• Assist with scenario analysis, sensitivity testing, and investment decision support. 

• Maintain organized documentation and version control for financial models and analyses. 

• Prepare regular financial and performance reports for internal stakeholders, including development and distribution of pipeline reports. 

• Support portfolio-level analysis, including cash flow tracking, DSCR, operating trends, and variance analysis. 

• Assist Development and Asset Management teams with property-level financial reviews and performance benchmarking, particularly during stabilization and financing transactions. 

• Support Development team predevelopment budgeting efforts. 

• Analyze budget-to-actual results and identify key drivers of variances. 

• Assist in developing, maintaining, and improving standardized budgeting templates and processes. 

• Assist with the review of term sheets, LOIs, financing proposals, and partnership agreements. 

• Support due diligence efforts, including data organization, financial analysis, and coordination with internal teams. 

• Coordinate with internal stakeholders and external partners, including lenders, investors, and consultants. 

• Help improve financial tools, models, and reporting systems. 

• Perform ad hoc analyses to support strategic initiatives and executive decision-making. 

Required 

• Bachelor’s degree in Finance, Accounting, Economics, Mathematics, Business, or a related field. 

• 2–5 years of experience in financial analysis in real estate development, investment, or consulting (development-focused preferred). 

• Familiarity with multifamily assets. 

• Proficiency in Microsoft Excel, including financial modeling, formulas, and data analysis. 

• Working knowledge of financial statements. 

• Strong analytical and organizational skills. 

• Ability to communicate clearly and professionally. 

• Ability to work independently and collaboratively. 

• Coursework or internship experience in real estate finance or development. 

• Exposure to commercial real estate concepts. 

• Experience with budgeting, forecasting, or variance analysis. 

• Familiarity with enterprise financial systems such as Yardi. 

• Interest in affordable housing or LIHTC projects. 

Salary : $85,000 - $115,000