Development Associate

ABOUT GREYSTAR

Greystar is a leading, fully integrated global real estate platform offering expertise in property management, investment management, development, and construction services in institutional-quality rental housing. Headquartered in Charleston, South Carolina, Greystar manages and operates over $300 billion of real estate in more than 265 markets globally with offices throughout North America, Europe, South America, and the Asia-Pacific region. Greystar is the largest operator of apartments in the United States, managing over one million units/beds globally. Across its platforms, Greystar has nearly $79 billion of assets under management, including over $35 billion of development assets and over $36.5 billion of regulatory assets under management. Greystar was founded by Bob Faith in 1993 to become a provider of world-class service in the rental residential real estate business. To learn more, visit www.greystar.com.

JOB DESCRIPTION SUMMARY

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.

JOB DESCRIPTION

• 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.

Qualifications

• 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.

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The salary range for this role is between $125,000 - $150,000.

Additional Compensation:

Many factors go into determining employee pay within the posted range including business requirements, prior experience, current skills and geographical location.

• 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 year of service! Additional vacation accrued with tenure.

• For onsite team members, onsite housing discount at Greystar-managed communities are available subject to discount and unit availability.

• 6-Week Paid Sabbatical after 10 years of service (and every 5 years thereafter).

• 401(k) with Company Match up to 6% of pay after 6 months of service.

• Paid Parental Leave and lifetime Fertility Benefit reimbursement up to $10,000 (includes adoption or surrogacy).

• Employee Assistance Program.

• Critical Illness, Accident, Hospital Indemnity, Pet Insurance and Legal Plans.

• Charitable giving program and benefits.

*Benefits offered for full-time employees. For Union and Prevailing Wage roles, compensation and benefits may vary from the listed information above due to Collective Bargaining Agreements and/or local governing authority.

Greystar will consider for employment qualified applicants with arrest and conviction records.

Important Notice: Greystar will never request your banking details or other sensitive personal information during the interview process. Greystar does not conduct any interviews via text or messaging, and all communication will come from official Greystar email addresses (@greystar.com). If you receive suspicious requests, please report them immediately to AskHR@greystar.com.