Development Associate
Development Associate
The Development Associate assists the Senior Vice President (SVP) in implementing plans consistent with the Company’s development projects including due diligence, acquisition, financing and proformas. In addition, the Development Associate assists the SVP in leasing matters for the Company’s retail portfolio including financial analysis, LOIs and Leases.
Ideal candidates should exhibit sound judgement, apply strong interpersonal communication skills, and be an all-around team player. A bachelor’s degree is required and college level or graduate level coursework in real estate, finance, and computer systems is preferred. A minimum of 2 years of experience in multifamily or mixed use is preferred but not required. Candidates must be proficient in Microsoft programs and Intermediate or Advanced knowledge of Microsoft Excel is required.
Resumes, cover letters, and salary requirements may be submitted by email to hiring@first-interstate.com or delivered to: Attention HR Department, First Interstate Properties, 25333 Cedar Road, Suite 300, Lyndhurst, OH 44124.
Benefits package includes:
- Paid Vacation, Sick Days, and Holidays
- Annual Bonuses
- Medical, Dental and Vision – coverage starts on first day of employment
- Optional Disability & Life Insurance
- 401(k) Retirement Plan with annual contributions by employer
- Onsite Fitness Center and Free Covered Parking
Principle duties include:
- Conduct research to support all development functions, including acquisitions, due diligence, impact fees, utility costs, market analysis, construction costs, and entitlements.
- Assist with budgets, proformas, and debt and equity financing.
- Research and gather documentation for RFQ/RFP responses and assist in the assemblage of RFQ/RFP responses and preparation for community preparations.
- Assist in creating investment packages to raise capital for development projects as well as assemble tax credit applications.
- Assist with preparing applications and financing proposals with multilayered financing sources.
- Assist with land acquisition, including preparation of letters of intent and purchase contracts with legal counsel, and gathering of due diligence materials.
- Attends site visits of potential property acquisitions and assists in market analysis, including preparing market reports, rent roll and resident file analysis and review of due diligence reports.
- Primarily responsible for performing retail lease analysis; reviewing and analyzing financial statements and balance sheets of potential tenants; and assisting the SVP in letter of intent negotiations, lease documentation and lease renewals.
Position: Full-Time Development Associate – Lyndhurst, Ohio
Resumes may be submitted by email to hiring@first-interstate.com
Benefits Include:
- Paid Vacation, Sick Days, and Holidays
- Annual Bonuses
- Medical, Dental and Vision – coverage starts on first day of employment
- Optional Disability & Life Insurance
- 401(k) Retirement Plan with annual contributions by employer
- Onsite Fitness Center and Free Covered Parking
The Development Associate assists the Senior Vice President (SVP) in implementing plans consistent with the Company’s development projects including due diligence, acquisition, financing and proformas. In addition, the Development Associate assists the SVP in leasing matters for the Company’s retail portfolio including financial analysis, LOIs and Leases.
Principal duties include:
- Conduct research to support all development functions, including acquisitions, due diligence, impact fees, utility costs, market analysis, construction costs, and entitlements.
- Assist with budgets, proformas, and debt and equity financing. Assist in creating investment packages to raise capital for development projects as well as assemble tax credit applications.
- Research and gather documentation for RFQ/RFP responses and assist in the assemblage of RFQ/RFP responses and preparation for community preparations.
- Assist with preparing applications and financing proposals with multilayered financing sources.
- Assist with land acquisition, including preparation of letters of intent and purchase contracts with legal counsel, and gathering of due diligence materials.
- Attends site visits of potential property acquisitions and assists in market analysis, including preparing market reports, rent roll and resident file analysis and review of due diligence reports.
- Primarily responsible for performing retail lease analysis; reviewing and analyzing financial statements and balance sheets of potential tenants; and assisting the SVP in letter of intent negotiations, lease documentation and lease renewals.
Job Requirements:
- A bachelor’s degree is required; college level or graduate level coursework in real estate, finance, and computer systems is preferred. Minimum of 2 years of experience in multifamily or mixed use is preferred.
- Required to demonstrate solid analytical and critical thinking skills and effective verbal and written communication. Must be detail-oriented and possess excellent financial, mathematical, and statistical skills and can often work with complex databases and/or quantitative tools.
- Demonstrate ability to understand and appropriately articulate financial considerations, market demand, project feasibility, financing, and environmental considerations related to sound investments after a normal orientation period.
- Proficient in Microsoft programs and Intermediate or Advanced knowledge of Microsoft Excel is required.
The Offices at Legacy Village
25333 Cedar Road, Suite 300
Lyndhurst, Ohio 44124
Tel: (216) 381-2900