Development Analyst

About The Company

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 potential development opportunities, sourced by Managers or Associates

• Track and understand market information, including land sales, stabilized asset sales, cap rates, rent comps, projects in planning and under construction

• Manage the underwriting model to ensure accuracy

• Capture broker/land seller contact information and collect relevant information/documents on pipeline opportunities

• Prepare comparative analysis for sites in the pipeline

• Assist Associate, Manager and Director with compiling information on City Impact Fees, School Fees, Water Fees and Sewer Fees for various cities in Southern California.

• Monitor and track key dates for deals currently under contract

Development Deal Analysis

• Review zoning and identify where there may be a zoning issue

• Update deal underwriting as new information is discovered through due diligence, design, and capitalization processes

• Prepare the analysis and reporting necessary for each Investment Committee meeting

• General market research review and understanding of different market research tools and sources

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

Reporting

• Create ad hoc reporting for all division investments for internal committees, investors, lenders and partners (including weekly to bi-weekly western region comparative analysis and corporate capital weekly production forecasts).

• Prepare packages for internal distribution and review, including LOI Kick-Off and Investment Committee (IC) packages

• Track investment opportunities in the pipeline and ensure all deal level information and reporting is up-to-date & accurate

Market Research

• Monthly and Quarter market research tasks- job/permit tracker, recent sales comp map & pipeline aerial

• Prepare comp slides for internal and external needs

• Tour comparable properties & sites to get a market perspective

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

• Use GIS mapping software to further submarket analysis and research

Travel

• The position is based in San Diego but will require periodic travel to surrounding markets outside of office.

• The position will support the Land Acquisition team covering San Diego, Orange, Los Angeles, Inland Empire, and Ventura counties; all applicants should have interest in these vital SoCal markets

Non-Essential Functions & Responsibilities

• Build networking capabilities through attending industry conferences and meeting people in the broker community

• Cross Collaborate with other JPI departments when needed such as pre-construction, construction, development and investment management.

Education, Work Experience, & Physical Requirements

• Bachelor's Degree in Business Administration with a major in Finance, Accounting, Economics or Real Estate preferred. College Degree in Urban Planning, Regional Development, Construction Management, Landscape Architecture or Architecture may also be acceptable.

• This is an entry level position. Prior relevant work experience is preferred but not required. Prior coursework or internships that built an understanding of financial analysis and how to calculate and interpret return metrics (NOI, Cap Rate, IRR, NPV, Levered vs Unlevered returns, Return on Cost, Residual Value, etc.) is necessary

• 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

We are a People First culture, and seek team members who are hungry, humble, and people smart with an eye to continuous improvement. Our culture begins with people and our goal is to attract, retain, and grow the best talent in the industry. Through ongoing investment in the development of our people, we provide meaningful opportunities for professional success and fulfillment. Led by values and principle-based leadership, our team approaches every project with responsibility, accountability, and integrity.

We're not inclined to brag, but we have been recognized on some impressive lists. Here are just a few of our noteworthy recognitions:

• 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

California General Base Pay Range

Note that the actual base pay offered will be contingent upon the candidate's overall experience, skills, internal existing associate equity and overall budget of the Company at the time of offer. The range is specific to base pay only. Additional compensation and/or bonus eligibility details will be shared by the Recruiter.