Development Associate

Firm Overview:

Our client is one of the nation's largest multifamily real estate developers and managers, based in Atlanta, GA, with offices located across the United States. The firm has built a culture where talented people are empowered to do their best work. Our client goes beyond giving people a better place to live: distinctive communities of lasting value are created, a solid return for investors is delivered, and a culture of respect and empowerment is forged for its employees.

Job Description:

Our client seeks a highly motivated individual to join its Development team in Orlando, FL. This position will report to the Orlando City Partner and support the Development team in identifying new development opportunities, conducting pro forma analysis, performing market research, and assisting with fundraising efforts. Additionally, this position will be responsible for assessing project risk, pursuing required entitlements and permits, and aiding in the management of the design and construction of multifamily development projects. Responsibilities include but are not limited to:

• Market Research: The associate will be responsible for extensive market research on the Orlando and Southwest Florida markets, as well as any new markets the Orlando team may pursue. The associate will develop a keen understanding of submarket trends, potential development sites, detailed rent analysis of comparable projects, local demand drivers, and the competitive supply pipeline.

• Site Feasibility: The associate will be responsible for obtaining preliminary information related to a project site to assess development feasibility, including local entitlement and permitting processes, municipal impact fees, real estate taxes, the supply pipeline, and demand drivers. The associate will also be responsible for preliminary underwriting of new development opportunities.

• Due Diligence: The associate will assist with the due diligence effort when pursuing projects under contract. This task includes collecting all due diligence items such as title documents, surveys, environmental documents, and soils analysis, and coordinating due diligence checklists. The associate will review due diligence materials and highlight key risks during the process.

• Preparing Investment Committee and Finance Packages: The associate will prepare investment committee packages for internal review and finance packages to be sent to potential lenders and equity partners for new projects.

• Pre-Construction Project Management: The associate will interface with governmental jurisdictions and the local community on entitlement and zoning issues. The associate will regularly interface with architects, engineers, and firm's preconstruction and construction staff during the design process, working to keep the project on budget and on schedule.

• Lender & Equity Due Diligence and Closing: Once financing commitments have been obtained, the associate will help collect the information requested by or set forth in the respective lender and equity partner checklists. The associate will have primary responsibility for coordinating with the firm’s preconstruction team to obtain the necessary permits for closing.

• Construction Period and Post Closing: After financing is closed and building permits have been obtained, the associate will coordinate with the firm’s construction team throughout the construction process, attend bi-weekly construction meetings, and assist with coordination with municipalities, utility companies, and telecom companies. The associate will help with the leasing office and amenity space turnover and coordinate unit turnover with Property Management.

• Budget Management: The associate will be responsible for monthly tracking of development budgets and invoices, reviewing draws for equity partners and lenders, and working with the firm’s preconstruction and construction teams to manage cash flow projections throughout the life of a project.

Experience Requirements:

• BA or MBA in finance, economics or other related degree
• 2 years of work experience
• Multifamily real estate experience
• Working knowledge of financial valuations
• Proficient in Microsoft Excel and PowerPoint
• Dynamic with strong analytical and presentation capabilities
• Resourceful and creative problem solver with ability to produce at a high level in an efficient manner
• Highly effective organizational, communication and interpersonal skills
• Detail oriented
• Self‐starter with desire to exceed expectations

Salary:

• Salary Range: $110,000 - $130,000
• Eligible for bonus

Compensation will be based on experience and include a bonus and benefits.