Commercial Development Associate
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As a Development Associate, you will report to the Vice President of the Commercial Division and work closely with the Commercial Development team to generate underwriting, due diligence, Investment Committee presentations for development activities in the Houston and Tulsa markets. Your responsibilities will include collaboration with a variety of business segments and direct communication with leaders and company executives.
The Development Associate position is an opportunity to gain experience in several asset classes while learning the development process from ground up within a quickly expanding and entrepreneurial development company. After gaining experience in all asset classes and building a solid development foundation the Associate will have an opportunity to specialize in one area or asset class (office development, retail development, value-add / repositioning of assets, etc.). The long-term goal of this Associate is to become a producer and lead developer and to manage their own specialized development team within the Signorelli Company.
Essential Job Responsibilites:
- Underwrite new development projects with focus on mixed-use retail, office and multifamily product types
- Work with lenders to negotiate development loans and refinancing of current projects
- Assist in the creation, management and operation of funds and equity partners within the Opportunity Zone assets
- Assist with due diligence activities on land and building acquisitions.
- Work closely with leadership on long-term strategic planning for buildout of master planned communities (MPC’s)
- Perform highest and best use analysis on land holdings, identify market opportunities and monitor competition
- Generate and manage RFP processes for new construction build to suits and tenant prospects.
- Perform detailed market research on new investments• Provide support for the Construction Division to manage general contractors, architects, engineers regarding design reviews and construction management schedules
- Provide support to asset management regarding lease and contract analysis, cost/benefit analysis and pro forma updates
- Provide support for land development within the Commercial Division regarding infrastructure, utility, detention and mitigation projects
- Support with public financing vehicles such as Opportunity Zones Funds, Management Districts, Municipal Utility Districts, TIRZ and sales tax agreements
- Work closely with legal counsel to review leases, deed restrictions, surveys and legal descriptions, trademarks, ROFO rights, and other questions as they arise
- Work effectively with professionals and information sources to obtain and consolidate information, develop conclusions, communicate key analytics to team members
- Build relationships with the greater Houston business and real estate community
Knowledge, Experience and Skills:
- Two or more years of experience in financial role
- Commercial real estate experience preferred (asset management, brokerage, appraisal, development, acquisitions, capital markets, etc)
- Strong financial and statistical background, adept in quantitative reasoning
- Ability to build positive working relationships with team members and consultants
- Ability to work under time constraints and deadlines
- Personality Attributes: self-starter, inquisitive and intellectually curious, effectively work with minimal supervision, detailed problem solver/critical thinker, pro-active and resourceful, exceptional communication skills
- Computer Skills: Proficient in Microsoft Excel and PowerPoint and exposure to Argus
Education, Certifications and Licenses:
- Bachelor’s Degree from an accredited institution
- MBA or Master’s Degree preferred