Development Associate — Phoenix
The Development Associate is a critical role at Constellation Real Estate Partners. This person is deeply involved in every step of the development process from start (deal sourcing) to finish (stabilization & value creation). This person will help define strategy through in-depth analysis of market data/research, front-line development of brokerage relationships to source opportunities, lead the underwriting/investment committee process, contribute to due diligence, entitlements, and site planning, and work on key elements of the execution, including sourcing/securing financing and leasing of projects. General responsibilities will include, but are not limited to:
- Regularly interface with the brokerage community across applicable markets to obtain market information and drive deal opportunities.
- Complete market research and form investment recommendations – through communication with brokers and third-party data providers – to analyze relevant lease comparables, sale comparables, competitive sets, development pipelines, and general market data.
- Underwrite development and value-add acquisition investment opportunities using Excel and Argus software, including developing pro forma cash flows, supporting schedules, and sensitivity analyses.
- Compile Investment Committee Memoranda for potential transactions. Content may include maps, investment merit narrative, outlining potential risks/mitigations, market color, and underwriting support.
- Assist throughout the due diligence process to identify/mitigate risk and optimize site plans for functionality and cost.
- Service-minded contribution to efforts in sourcing and securing construction financing
- Collaboration with construction management to ensure accurate budgeting and monthly draws.
- Coordinate lease-up of projects alongside Development Partner
Preferred Qualifications
- Bachelor’s degree required
- Demonstrated interest in real estate development
- Proficiency in Microsoft Excel, PowerPoint, and Word
- Strong written and verbal communication skills
- Excellent attention to detail
- Demonstrated analytical skills
- Ability to multi-task and prioritize among numerous deals/tasks in a fast-paced environment.
- Travel is required for market reconnaissance, industry events, and continuing education.
- Self-Starter & Problem-Solver
- Team-oriented & Optimistic
About Constellation Real Estate Partners
Constellation develops and acquires logistics properties across the Southwest, Texas and Southeast, utilizing a unique combination of ‘old school’ (industry experience & relationships) and ‘new school’ (data science) investment practices. Constellation is committed to achieving superior risk-adjusted returns for its investors and positive outcomes for customers, brokers, colleagues, and the community by striving for superior market knowledge and relationships.
