Development Associate

Our client, Wood Partners, seeks a highly motivated individual to join its Development team in Phoenix, Arizona. 

This position will report to the Arizona 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 Phoenix and Las Vegas markets, as well as any new markets the Arizona 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 Wood Partners' 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  Wood  Partners   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 Wood Partners 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 Wood Partners preconstruction   and construction teams to manage cash flow projections throughout the life of a project.

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