Vacancy Announcement
BALFIN Group is one of the most successful investment groups in the Western Balkans. Established in 1993, the Group today operates across Austria, Albania, Kosovo, Bosnia and Herzegovina, Croatia, North Macedonia, Switzerland, Montenegro, the Netherlands, Canada, and the United States of America.
Its diversified portfolio spans multiple sectors, including banking, real estate development, wholesale and retail, asset management, tourism, logistics, education, and entertainment.
With a workforce of approximately 5,500 professionals, BALFIN Group continues to grow steadily, guided by strong business ethics, financial stability, innovation, and a long-term commitment to community impact through Mane Foundation.
BALFIN Germany Management GmbH is the Group’s newest company, created to lead BALFIN’s growth in the German market.
Building on the Group’s strong base in Austria and more than three decades of experience in real estate, retail and hospitality, the company manages and develops the Group’s commercial properties in major German cities.
Its portfolio includes the historic Tietz building next to Munich Central Station and the Galeria building in the centre of Bonn. Both are high-footfall, central locations with strong potential for development.
As it builds its team, BALFIN Germany Management GmbH is looking for motivated professionals who want to help shape one of the Group’s most important international steps.
Job Position: Real Estate Investment Analyst
Company: BALFIN Germany Management GmbH
Reports to: Development Director for Germany
Location: Munich, Germany
Overview
Purpose of the position
Support the business development, project management, repositioning and ongoing performance monitoring of BALFIN’s real estate assets in Germany. Convert market, financial and project information into reliable business plans, clear management reports and well-supported recommendations for the Development Director and relevant decision-making bodies.
The position combines analytical work with practical project coordination across the asset lifecycle. It supports the delivery and monitoring of approved asset and investment strategies and evaluates development, leasing, refurbishment and disposal scenarios as assigned.
Main Responsibilities
Business planning and financial modelling
• Build and maintain asset and project cash-flow models covering rental income, vacancy, incentives, operating expenditure, development costs, financing assumptions and exit scenarios.
• Assess feasibility and returns, including net operating income, development margin, net present value, internal rate of return and equity multiple, as relevant to each asset.
• Test sensitivity to rents, occupancy, costs, timing, financing and exit yields; explain principal value drivers, downside exposure and funding implications.
• Monitor financing market conditions and apply best practices in debt structuring scenarios in order to optimize equity requirements and structuring.
• Maintain a documented assumptions register and version history. Compare current forecasts with the approved business plan and explain changes without overwriting the approved baseline.
• Obtain specialist input from Finance, Legal, tax and technical advisers; clearly distinguish verified information, working assumptions and unresolved issues.
Market research and asset/investment strategy
• Analyse local supply, demand, comparable rents, transactions, yields, financing conditions, vacancy and competing developments; record sources, dates and limitations.
• Model and compare alternative uses, redevelopment concepts, phasing and positioning in collaboration with the Development Director and Asset Management.
• Assess leasing proposals and tenant-mix scenarios, including incentives, landlord works and impact on cash flow and returns; support recommendations to the responsible manager.
• Monitor local market conditions throughout various asset classes and in accordance with the Group investment criteria as well as analyze new investment opportunities as/if they may arise.
Development and project coordination
• Maintain milestone trackers, action lists and risk registers; identify dependencies and escalate delays or decisions that could affect delivery; compare approved timing and progress assumptions with actual performance.
• Maintain and coordinate reporting towards financing institutions, participate in financing discussions and actively support such procedures with inputs, calculations and recommendations.
• Maintain an orderly project data room, decision log and document version control; organise meetings and record decisions, responsibilities and deadlines.
Asset performance and project cost analysis
• Collect and validate rent rolls, occupancy, arrears, lease expiry, operating income and capital expenditure data with asset and property managers.
• Monitor performance against approved asset plans, including leasing progress, income, costs, milestones and delivery of value-creation initiatives.
• Maintain project forecasts and cost-to-complete analysis with the technical team.
Reconcile actual costs and commitments with the Finance and Administration Manager.
• Explain movements in forecast completion costs, cash requirements and returns; distinguish approved changes from proposals awaiting approval.
• Support periodic hold, refurbish, redevelop or sell analyses and provide information for external valuations, refinancing or disposal processes when assigned.
Management reporting and approval support
• Prepare concise asset dashboards, management presentations and decision papers showing progress, forecast outcomes, risks and decisions required.
• Support the Development Director in preparing Requests for Approval, consolidating options, financial impacts and technical, legal and tax input from the relevant owners.
• Track approval conditions and subsequent actions; ensure approved changes are reflected in working forecasts and reported against the original baseline.
• Support review of additional opportunities when assigned, while prioritizing the acquired German portfolio.
Requirements
Qualifications and Requirements
Education and experience
• Degree in Real Estate, Finance, Economics, Business Administration, Civil Engineering, Architecture or a related discipline. Candidates should demonstrate strong financial modelling capability.
• Typically, min. 5 years of relevant experience in real estate development, asset management, investment analysis, financing, transaction advisory or project consulting.
Technical and personal capabilities
• Strong Excel-based cash-flow modelling and scenario analysis; ability to translate operational assumptions into project returns and explain model outputs clearly.
• Understanding of development stages, commercial leasing, property operating costs and project budgeting; ability to interpret rent rolls and consultant reports.
• Ability to research markets, evaluate evidence and produce concise decision papers and presentations. Strong PowerPoint skills; Power BI and scheduling tools are advantageous.
• Professional proficiency in German and English, enabling local stakeholder coordination and reporting to international management.
• Analytical, structured and curious; attentive to data quality, comfortable challenging assumptions and able to distinguish facts from estimates.
• Reliable and proactive, with good coordination skills and the ability to prioritise across assets. Willingness to travel within Germany as required.
Key interfaces
Internal: Development Director for Germany; Asset Manager; Finance and Administration Manager; Group RE Investment and Asset Management; Group Finance; and Legal.
External: Property managers, architects, engineers, project and construction managers, planning advisers, brokers, valuers, market researchers and relevant authorities, under management guidance.
Career Development Opportunities
The position offers the opportunity to contribute to the establishment and growth of BALFIN Group's German development activities from an early stage.
The successful candidate will gain exposure to major urban redevelopment and mixed-use projects, working closely with senior management and gradually taking on greater responsibility for individual projects and workstreams.
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