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Bridge Development Fund Manager is seeking an Associate to join one of its regional investment teams. You will support a group of multifamily investments through the full ownership life cycle — delivery and lease-up, stabilization, ongoing asset management, refinancing, joint venture partner buyout or crystallization, and disposition — working alongside the Senior Associate and regional Director who own the portfolio and the partner relationships.
The job has two halves. One is asset management — tracking how the assets are actually performing. The other is sponsor-facing: the capital stack, the joint venture agreements, and the buyout structures behind them. You will build the analysis those conversations rest on, and over time take direct ownership of assets yourself.
This is a seat with room in it. Our regional teams are small, so the work you do is visible and the path to running your own region is short.
Key responsibilities
Analysis and models
- Maintain the business plan, model, and reforecast for assigned investments, and keep the current view of where each asset stands
- Build valuation and waterfall analysis supporting crystallization, buyout, and disposition decisions
- Run scenarios and sensitivities at the direction of the Senior Associate or regional Director, and summarize what they show
- Prepare hold-sell analysis and re-underwriting as assets move through their capital event cycle
Capital events — refinance, buyout, crystallization
- Support evaluation of crystallization and buyout notifications against the joint venture agreement
- Compile appraisals and brokers’ opinions of value supporting the transaction
- Prepare draft investment committee financing memoranda for review
- Support lender due diligence, legal review, consents, and closing logistics
- Track loan maturities, extension options, rate cap and hedge renewals, and covenant compliance
Lease-up and ongoing ownership
- Track property performance and leasing velocity against underwriting, and flag where absorption, pricing, or concessions are off plan
- Participate in weekly property manager and partner calls
- Review partner development draws and fee calculations, and prepare recommendations for approval
- Review monthly financials and budget-to-actual performance, and confirm lender reporting requirements are met
- Support annual budgeting and variance analysis for assigned assets
Reporting
- Prepare quarterly asset status reports, including market research, actuals, and model roll-forwards
- Build valuation and investment committee materials for review by the Senior Associate and regional Director
- Provide asset-level inputs supporting fund cash forecasting, capital calls, distributions, and investor reporting
- Based in Salt Lake City, with travel to properties and partner offices as needed
What you should bring
- Three to five years of commercial real estate experience across investment management, asset management, acquisitions, or development
- Multifamily experience. This is the core of the portfolio and other asset types do not substitute for it
- Advanced Excel and financial modeling, including comfort working inside large, linked models built by others
- Exposure to joint venture structures — operating agreement mechanics, promote and waterfall calculations, and partner reporting
- Exposure to commercial real estate financings and the closing process
- The judgment to tell the difference between what the underwriting says and what is actually happening at the asset
- Accuracy across multiple concurrent workstreams and recurring deadlines, without prompting
- Clear written and verbal communication, including materials that will be read by senior leadership
- Bachelor’s degree in real estate, finance, accounting, economics, or a related field
Preferred
- Asset management background; acquisitions experience can substitute
- Experience preparing investment committee materials
- Recent multifamily experience
- Ground-up multifamily development and lease-up exposure
- Experience working with multiple third-party property managers
- Exposure to closed-end fund structures, capital calls, and distribution waterfalls
- Mixed-use or ground-floor retail exposure
