Development Associate

Job Title

Job Description

Provides day-to-day management of development projects throughout design and construction. Coordinates with consultants during the due diligence and construction phase of projects, and often interacts directly with equity partners, investment, and asset management teams.

• Reviews financial analysis of development opportunities, including creating detailed pro-forma and financial models.
• Oversight of market data analysis, preparation of narrative investment memoranda, detailed reports, and market summaries that provide insights on proposed projects.
• Coordinates closely with lender to ensure an efficient closing process by handling and organizing documents and interfacing with legal counsel.
• Participates in the due diligence of development sites under contract and prepares documentation on key findings that may affect the return and financial performance of the proposed deal. Works closely with the consultant team to solve issues and permit the project in a timely manner before construction start. Reviews and resolves title and survey matters and reviews and marks up plans.
• Collaborate with the development team, property management and consultants to approve floor plans, signage plan and design of the building.
• Assists with the consultant engagement and direction to complete project design and solve any issues to receive permits in timely manner.
• Administers the Development and Construction Status Report (DCSR) process. Monitors and reports on the status and progress of proposed development pipeline project, recommending critical timelines and deadlines for tasks and activities related to the proposed transaction, and identifies and communicates issues or problems that could adversely affect closing.
• Prepares reports and updates for equity partners and lenders and coordinates with the finance team to assist with potential equity and debt sources questions.
• Represent ownership on day-to-day project management activities including OAC meetings and jobsite visits, including attending mock ups, box walks and FF&E installs.
• Maintain keen understanding of economic activity in target markets by tracking market fundaments and actively participating in industry organizations.
• Prepare business plans, including deal memorandums, financial forecasts, and strategic plans.
• Review and maintain compliance with legal transactional and permitting documents.

• 3+ years of experience in real estate finance, construction, or architecture.
• A bachelor's degree is required in finance, business, real estate, economics, construction, architecture, or related field. Master's degree is preferred.
• Attention to detail and exceptional creative problem-solving skills.
• Proficiency in Excel and financial modeling skills, with advanced knowledge of cash flow forecasting.
• Highly motivated self-starter with strong organizational, time-management and project management skills to effectively track report and manage multiple projects and priorities where meeting deadlines is critical.
• Excellent interpersonal and relationship-management skills in order to establish, cultivate, and maintain productive relationships with brokers, institutional and equity partners, owners, lenders, and the variety of potential clients with whom Greystar does business.
• Advanced written and communication skills with professional presentation and public speaking ability.

Salary Range: $125,000 - $150,000

Additional Compensation:

• Corporate Positions:
  In addition to the base salary, this role may be eligible to participate in a quarterly or annual bonus program based on individual and company performance.
• Onsite Property Positions:
  In addition to the base salary, this role may be eligible to participate in weekly, monthly, and/or quarterly bonus programs.

Robust Benefits Offered*:

• Competitive Medical, Dental, Vision, and Disability & Life insurance benefits. Low (free basic) employee Medical costs for employee-only coverage; costs discounted after 3 and 5 years of service.
• Generous Paid Time off. All new hires start with 15 days of vacation, 4 personal days, 10 sick days, and 11 paid holidays. Plus your birthday off after 1…