Development Associate
About The Position
The Development Associate is responsible for driving real estate development projects from beginning to end, supporting the Vice President or Senior Vice President, Development, and working in collaboration with legal, accounting, construction and asset management. The Development Associate is responsible for preparing and reviewing various analyses necessary to implement the development business plan; participates in the underwriting of development proformas, preparation of various reports and memorandums necessary for the day to day management of projects; and assists the development management team throughout all project phases such as site acquisition, contracts, programming, design, finance, construction, sales/marketing.
Requirements
- Strong financial, interpersonal, and analytical skills
- Ability to work as part of a team in an entrepreneurial environment
- Great attention to detail, work ethic and administrative skills
- Sound business judgement
- Excellent oral and written communication skills, ability to present recommendations and interact with the senior management and investment partners
- Bachelor’s degree from an accredited university or college required
- 2‐4 years of relevant experience in real estate development or investment, business management, architecture or other related activities in the real estate industry
- Knowledge of general workflow and processes for the construction of buildings
- Advanced knowledge of budgets, cost reports and accounting terms
- Excellent knowledge of MS Office (Excel, Word, Outlook)
Nice To Haves
- Advanced degree preferred
Responsibilities
- Create and modify complex financial models, including cash flow projections, valuation models and sensitivity analyses
- Prepare pre‐development and development schedules
- Prepare and modify development budgets for new and on‐going projects
- Track and analyze market comparables and benchmark projects
- Evaluate credit data to determine the degree of risk involved in order to prepare investment memos for debt and equity providers, assist with due diligence for lenders
- Prepare comprehensive monthly reports for investors
- Assist on execution of development agreement obligations
- Assist on execution of major project agreement (hotel management agreements, loan agreements, etc.) obligations
- Coordinate monthly budget and variance analysis and interpret financial performance with senior management
- Coordinate capital calls and prepare project updates to investors
- Assist with negotiation and execution of contracts with design teams, track project costs and approve consultant and contractor requests for payment
- Assist in review of design documents, participate in consultant coordination meetings, and use discretion for solving project design coordination issues
- Assist in preparation of offering plans and marketing efforts
- Participate in the process of sourcing new development and acquisition opportunities
- Participate and assist with preparation of government agencies program applications
- Review and analyze Request for Proposals (“RFP”), as well as participate in the preparation of RFP submission packages
- Perform any additional duties assigned by manager
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Number of Employees
51-100 employees
