Development Intern, West

Essential Functions & 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.

Education, Work Experience, & Physical 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.