Analyst, Investments

Adi Development Group • Burlington, ON

3d • CA$85,000 - CA$110,000 • Onsite

About The Position

ADI Development Group is a vertically integrated Canadian real estate developer and investment manager based in the Greater Toronto Area. With an established track record across Canadian markets, ADI develops, builds, and manages institutional-quality multi-unit residential communities, with a current focus on affordable rental development at scale. The platform brings development, construction, and property management capabilities together under one roof.

We are seeking an Analyst to join the Investments team in a foundational role supporting underwriting, diligence, and asset management across the firm's acquisition and development activities. Reporting to the VP of Investments, the Analyst will be responsible for building and maintaining financial models, supporting diligence on new opportunities, and contributing to Investment Committee materials. This is a high-impact role for an early-career candidate who brings strong analytical fundamentals, intellectual curiosity, and a willingness to take initiative.

Requirements

• 2–4 years of experience in real estate private equity, real estate development, real estate investment banking, or a related analytical role
• Exposure to development or multifamily underwriting strongly preferred
• Bachelor's degree in finance, real estate, economics, or related field
• CAIA and/or CFA candidate viewed favorably
• Strong Excel and financial modeling fundamentals — comfortable building from a template and progressing toward building from scratch
• Demonstrated ability to leverage AI tools and embed AI into modeling and analytical workflows to drive productivity is required
• A genuine self-starter who takes initiative, asks the second and third questions, and drives tasks to completion without prompting
• Demonstrated ownership mentality — takes pride in the quality of their work product and consistently goes beyond the brief
• Comfortable working cross-functionally in a team environment and proactive in flagging issues to senior team members
• Strong written communication — precision and attention to detail are essential

Responsibilities

• Build and maintain financial models for acquisitions, ground-up development, and value-add multifamily across Canadian and US markets
• Support underwriting on new opportunities — sources & uses, development budgets, lease-up assumptions, debt sizing, waterfall mechanics, and LP/GP returns
• Maintain the deal pipeline tracker and prepare preliminary screens for review by senior team members
• Coordinate and synthesize third-party due diligence and project reporting — including appraisals, cost consultant reports, first draw reports, and market studies
• Build and update joint venture waterfall and partner economic models under the direction of senior team members
• Maintain monthly cost-to-date (CTD) and cost-to-complete (CTC) model updates across the active development portfolio, working with construction and project management teams to capture actuals and flag variances
• Prepare model outputs, return scenarios, and analytical content to support capital raising and LP fundraising materials
• Prepare lender models, covenant testing schedules, and term sheet comparison analyses to support debt raising and financing workstreams
• Run sensitivity and scenario analyses to support investment theses
• Draft sections of Investment Committee memos and prepare supporting exhibits and analyses
• Conduct market research and comparable analysis across our active jurisdictions
• Partner with development, construction, and property management teams to gather inputs and validate assumptions

Benefits

• Learning & Development Reimbursement
• Competitive Paid Time Off
• Competitive Salaries
• Employee Home Ownership Program
• Comprehensive Benefits Plan
• Flexible Health, Lifestyle & Wellness Personal Spending Account

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level