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The Development Associate position will report to the area Managing Director and will focus on senior housing development support across the country. The candidate will be responsible for a variety of supporting duties including the preparation of financial models and proformas, managing the entitlement process, analyzing the feasibility of senior housing (independent living, assisting living, memory care and active adult) development and acquisitions projects, assist in the creation of investor/lender presentation packages, and assembling and presenting market research information.
The Development Associate will also be responsible for assisting in the preparation and tracking of budgets and project proformas to ensure that development projects are completed on schedule, within budget and in compliance with the terms of joint venture and loan agreements. The candidate will be an integral part of large development projects in all aspects of the business, including direct coordination with the project operations, financing, and construction.
The location of this position is open to any of our locations across the West Coast (Northern California or Southern California) or Phoenix, AZ. The office is a dynamic, entrepreneurial environment - the successful candidate must be a team-oriented, proactive, self-starter with an eagerness to learn and grow, and have passion for the real estate development process.
The Key Responsibilities. Assist in evaluating potential new development and acquisition sites from zoning and entitlements to financial feasibility
Conduct detailed market surveys and perform quantitative and qualitative analysis of competitive landscape
Underwrite the value of senior housing real estate development projects by developing and applying quantitative analytical models
Participate in conducting and managing the due diligence process on targeted development projects
Collect and integrate project data, including construction cash flow requirements, operating income and expense projections and financing assumptions for project proformas
Compose written and graphical summaries and memorandums regarding potential development projects for internal and external presentation
Interface and negotiate with governmental jurisdictions on entitlement and zoning issues
Assist in managing monthly draw processes
Track job cost against budget and report to management on projected savings or overruns
Understanding of the real estate and development industry
Effective organizational, prioritization and time management skills
Excellent verbal, written and presentation communication skills
Ability to work independently with minimal supervision, and to push need-to-know information upstream as warranted
Strong aptitude for building and manipulating financial models
Strong negotiation skills