Development Intern

JPI • Los Angeles, CA

3d • $20 - $23

About The Position

Built on a foundation of integrity, respect, and commitment, JPI stands out as one of the most active real estate developers and builders in the nation. For more than 35 years, JPI has designed and developed communities with best-in-class homes and amenities. JPI is committed to data-driven management and continuous improvement. Its team of experts utilizes data – including unparalleled market research, proven business processes, and proprietary models – to ensure that every decision is strategic, focused, and produces exceptional multifamily communities with the best risk-adjusted returns. More than just great communities, JPI is focused on leaving a lasting impact on the communities where we build and is continually committed to “Building What Matters.” JPI operates as a subsidiary of Sumitomo Forestry, which is recognized as one of the largest home builders in the United States. JPI has an exciting opportunity for a Development Intern to join our West Development team located in San Diego, CA. The role of the Development Intern will be to be responsible for providing analysis, research, and support to the West division in the development and acquisition of new land opportunities. This will involve site sourcing, market research, preparation of investment material, underwriting, and document drafting. The intern will be working in our West office, covering Southern California.

Requirements

• Bachelor’s degree or pursuing a Degree in Business, Finance, Accounting, Real Estate, Engineering, Math, or a related field required.
• This is an entry-level position, but prior coursework or internships that built an understanding of financial analysis and how to calculate and interpret return metrics (NOI, Cap Rate, IRR, NPV, Levered vs Unlevered returns, Return on Cost, Residual Value, etc.) would be useful.

Responsibilities

• Acquisition Underwriting Underwrite and evaluate investment opportunities.
• Track and understand market spot cap rates and relevant sale comps.
• Update the underwriting base model and other templates
• Capture information from relevant broker offerings (Rent comps, sale comps, etc.).
• Development Pipeline Coordination Track investment opportunities in the pipeline and ensure information is up to date.
• Prepare weekly update reports on active opportunities for discussion with the team.
• Prepare comparative analysis and other ad hoc reports for sites in the pipeline.
• Development Deal Analysis Update original underwriting of deals as new information is discovered through due diligence or underwriting standards have been updated.
• Prepare analysis and reporting necessary for Investment Committee meetings.
• Draft Letters of Intent (LOI) for deals Reporting Create ad hoc reporting for potential and existing investments for internal committees, investors, lenders, and partners.
• Market Research Monthly and Quarterly market research tasks- job/permit tracker, recent sales comp map, zoning map, supply map, & pipeline aerial Prepare comp slides for internal and external needs.
• Tour comparable properties & sites to gain valuable insight into competing amenities, demand drivers, absorption, and pricing.
• Obtain and maintain a database of competitor premiums and amenities that are deal specific.

Benefits

• We have a 35-year track record of developing multifamily communities with responsibility, accountability, and integrity.
• Our stated purpose is to: Transform Building Enhance Communities Improve Lives
• JPI has an ambitious and exciting vision for how we will achieve this, which makes for a positive and dynamic work environment, with many opportunities for personal development and growth.
• As well as our highly competitive offering of compensation and benefits, we are committed to: Transformative careers in a transformative company Comprehensive training and development Promotion from within at all levels of the organization Borderless Careers, based on performance, potential, and personal ambition Industry Recognition NMHC - #1 Fastest Growing Developer; #2 Fastest Growing Building; #8 Largest National Developer; # 11 Largest National Builder Real Page – Most active multifamily developer in DFW for the past 8 years Dallas Business Journal Best Places to Work – 2023 Dallas Business Journal – Largest DFW Real Estate Developers - #11

What This Job Offers

• Career Level: Intern
• Number of Employees: 251-500 employees