New Development Manager Jobs in Raleigh, NC (NOW HIRING)

Built on a foundation of integrity, respect, and commitment, JPI stands out as one of the most active real estate developers and builders in the nation. For more than 35 years, JPI has designed and developed communities with best-in-class homes and amenities. JPI is committed to data-driven management and continuous improvement. Its team of experts utilizes data - including unparalleled market research, proven business processes, and proprietary models - to ensure that every decision is strategic, focused, and produces exceptional multifamily communities with the best risk-adjusted returns. More than just great communities, JPI is focused on leaving a lasting impact on the communities where we build and is continually committed to "Building What Matters." JPI operates as a subsidiary of Sumitomo Forestry, which is recognized as one of the largest home builders in the United States.

Essential Functions & Responsibilities

Acquisition Underwriting

• Underwrite and evaluate investment opportunities sourced by Managers

• Update and proof underwriting templates to ensure accuracy

• Prepare internal presentation material required for investment decision making

• Draft Letters of Intent (LOI) for active opportunities

Development Pipeline Coordination

• Track investment opportunities in the pipeline and ensure that deal-level information is up to date

• Prepare weekly update reports on active opportunities for discussion with the Development team with key metrics

• Prepare comparative analysis and other ad-hoc reports for opportunities in the pipeline

• Monitor and track progress of Development team's production goals

• Monitor and track key dates for deals currently under contract

Development Deal Analysis

• Update original underwriting of deals as new information is discovered through due diligence, design process and capitalization options with Development Manager

• When able shadow Development Managers on design meetings.

• Support Development Manager with ongoing construction obligations such as monthly draws, reforecasting budget and ad hoc investor requests.

• Prepare analysis and reporting necessary for meetings with Investment Committee

Market Research

• Monthly and Quarterly market research tasks- jobs/permit tracker, supply, etc.

• Tour comparable properties & sites to gain valuable insight into competing amenities, local demand drivers, absorption, and pricing

• Obtain and maintain a database of competitor premiums and amenities that are specific to each deal

• Track market spot cap rates, sale comps, and operating expense comps with broker contacts

Non-Essential Duties and Responsibilities:

• Build networking capabilities by attending industry conferences and meeting people in the CRE industry (e.g. TREC, ULI) and development community.

• Maintain current knowledge of the local real estate market by monitoring relevant industry publications and leveraging contacts with industry professionals.

Education, Work Experience, & Physical Requirements

• Bachelor's Degree in Business, Finance, Accounting, Engineering, Math, Data Science, or Real Estate preferred.

• 1 - 3 years of prior work experience that built upon an understanding of financial analysis, with the ability to calculate and interpret return metrics (NOI, Cap Rate, IRR, NPV, Levered vs Unlevered returns, Return on Cost, etc.).

• Excellent verbal and written communication skills, including ability to effectively communicate with internal and external customers

• Excellent computer proficiency (MS Suite - Word, Excel, PowerPoint and Outlook)

• Must be able to work under pressure and meet deadlines, while maintaining a positive attitude and providing exemplary customer service

• Ability to work independently and to carry out assignments to completion within parameters of instructions given, prescribed routines, and standard accepted practices

Why work for us?

We have a 35-year track record of developing multifamily communities with responsibility, accountability, and integrity. Our stated purpose is to:

• Transform Building

• Enhance Communities

• Improve Lives

JPI has an ambitious and exciting vision for how we will achieve this, which makes for a positive and dynamic work environment, with many opportunities for personal development and growth. As well as our highly competitive offering of compensation and benefits, we are committed to:

• Transformative careers in a transformative company

• Comprehensive training and development

• Promotion from within at all levels of the organization

• Borderless Careers, based on performance, potential, and personal ambition

Industry Recognition

• NMHC - #1 Fastest Growing Developer; #2 Fastest Growing Building; #8 Largest National Developer; # 11 Largest National Builder

• Real Page - Most active multifamily developer in DFW for the past 8 years

• Dallas Business Journal Best Places to Work - 2023

• Dallas Business Journal - Largest DFW Real Estate Developers - #11

JPI offers associates a comprehensive benefits package with competitive salaries and more, including:

• Competitive Bonus Program

• 4 Weeks PTO for All New Associates (Pro-Rated by Hire Date)

• 11 Holidays and 8 Early Release Days

• Medical, Dental, Vision, and Life Insurance

• 401(k) with Company Match (Up to 5% Match)

• Health Savings Account

• Flexible Spending Accounts (Dependent & Medical Reimbursement)

• Paid Parental Leave

• Paid Volunteer Time

• Tuition Assistance

• Phone Reimbursement

• Associate Referral Bonuses