Development Associate

Job Description

MIG Real Estate (“MIG”) is a private real estate investment firm located in Newport Beach, California. MIG owns and operates over $2 billion of real estate investments in multi-family, office, hotel, retail, and industrial properties located in the Western U.S. and sun belt states.  The company’s current investments include over 6,800 multifamily units.

MIG is currently seeking a qualified individual with at least 5 years’ experience to serve as a Development Associate to support and assist with the acquisition, entitlement, design and permitting of ground-up multifamily, commercial and mixed-use developments.  MIG intends to invest a substantial amount of equity in multifamily assets over the next several years and will need a highly organized, enthusiastic candidate with strong financial acumen and interpersonal skills to coordinate with design teams to meet stringent deadlines and budgets.

POSITION REQUIREMENTS:

• Prepare market and project specific financial analysis/underwriting:

• Compile and analyze market information
• Collect municipal information, calculate development fees, taxes, and determine entitlement process
• Prepare market analysis and project level proformas
• Produce investment committee memos and briefings

• Assist in the development process from due diligence, through design, entitlement, financing, and construction, to project completion:
  • Participate in the due diligence process and evaluation of proposed acquisitions
  • Assist in the development of project schedules, budgets, and scopes
  • Coordinate third party consultants and reports
  • Assist with the management and coordination efforts to obtain entitlements, permits and rights required for initiating project development
  • Attend governmental meetings, as required
  • Collaborate and coordinate with design teams in concept development, schematic, design drawings and construction documents
  • Assist in the preparation of financing request packages
• Consultant/Vendor Management:
  • Determine consultant/vendor selection criteria for assigned services and products
  • Review consultant/vendor proposals, make recommendations, and negotiate agreements
  • Manage consultant/vendor contracts and review and process invoices
• Maintain target market information and databases, to include, as required:
  • Comparable land and existing project sales
  • New development project data
  • Municipality development fees, taxes, entitlement process, and regulatory programs
  • Site visits to better review comparable products and understand market dynamics

Technical/Professional Knowledge

(Knowledge/Skills, Education and Experience)

• Minimum of 5 years of multifamily development experience required (Less will be considered depending on experiences.)
• A bachelor’s degree, or equivalent, required (ideally in Civil Engineering, Business, Real Estate, Urban Planning, or Architecture)
• Proficient in Microsoft Excel, Word, PowerPoint, and Projects required; Adobe InDesign and Argus Enterprise preferred
• A broad base of knowledge in design, construction, finance, legal, and understanding of the entitlement processes across multiple jurisdictions required
• Strong analytical and problem-solving skills

• A working knowledge of pertinent industry terminology and methodology, i.e., finance, architecture, engineering, construction
• Must be able to interact with various ownership entities, Consultants, Customers and internal management

• Ability to communicate effectively (orally and in writing) give clear direction and respond to inquiries
• Ability to manage multiple tasks, and projects, simultaneously while meeting required deadlines

• Ability to coordinate projects through planning, organizing, and coordinating tasks
• Some overnight travel required

CORPORATE CULTURE:

• Ethics and integrity are paramount when representing the company
• Ability to lead and understand the importance of getting others to do their jobs with enthusiasm to work towards achieving the overall strategic plan for the region.
• Sensitivity to change and ability to quickly adapt in a business world in constant evolution
• Ability to manage time, stay organized and the desire to learn and excel
• Ability to think strategically, work well with a wide variety of people and value the importance of teamwork