Development Associate - Washington, DC

The Equity Residential Investments Team is growing as we fine tune our footprint in existing markets and expand in new ones.  Under the direction of the VP of Development, the Development Associate will support this growth by helping to oversee all facets of the development process. Our Development Team places development capital via both direct development projects and joint ventures, and the Development Associate will support both transaction types.  

WHO YOU ARE 

• Analytical and Creative. You like thinking outside the box to come up with smart solutions to new challenges, and you embrace the opportunity to live in the gray. 
• A Strong Communicator. Your writing and speaking skills are clear and effective, helping you connect well with others. 
• Organized and Confident. You are flexible, composed, and able to prioritize multiple tasks and deadlines simultaneously while confidently interacting with individuals across all levels of the organization.
• Motivated. You invest extra energy to reach your goals.
• A Solution-Oriented Team Player. You are united with teammates and follow through on commitments. 
• A Self Starter: You are intellectually curious and goal oriented; you like to solve complex problems and find unique solutions. 

WHAT YOU’LL DO  

• Evaluate and manage multiple projects across the Boston, Washington DC, New York, and Atlanta markets.   Assist in all facets of the development process, including:
  • Managing underwriting model and competitive market surveys for all projects, including recommendations on revenue and operating expenses for each deal
  • For direct development deals, responsibilities include assisting with site selection, purchase & sale agreements, design, entitlement, construction and lease-up
  • For joint ventures, this includes sourcing new projects, assisting in the negotiation of joint venture and loan documentation, and deal due diligence, including analysis of entitlements and environmental issues, construction budgets and schedules, financial projections, market reports, and feasibility studies
• Partner closely with asset management, construction management, and property management leadership to ensure compliance with underwriting and business plan goals
• Assist in the development and documentation of transaction rationale and investment strategy, including preparation and presentation of materials to Investment Committee
• Performs other duties as necessary

 

REQUIREMENTS 

 

• Bachelor’s degree or advanced degree in business, real estate, finance, architecture, engineering, or other related field.  
• Must possess a strong analytical mindset, as well as excellent written and verbal communication skills.  
• 3-5 years of development experience with expertise in Microsoft Excel and a strong understanding of financial and real estate concepts such as DCF, IRR, NPV, NOI, cap rates, etc.  
• Experience with joint ventures preferred 
• Knowledge of Atlanta real estate market preferred
• Ability to travel and valid drivers’ license 
• Please click here to learn more about Equity Residential’s Covid-19 Vaccination Requirements (Haga clic aquí para obtener más información sobre los requisitos de vacunación Covid-19 de Equity Residential).

REWARDS

We recognize everyone has different needs outside of work. That’s why, in addition to a competitive benefits package (medical, dental, vision and paid time off), we offer many unique options to employees, like adoption benefits and paid time off for community service projects. To learn more, view our Total Wellbeing page here.

 

Working for Equity Residential (EQR), a leading multi-family real estate investment trust (REIT), means living our purpose: creating communities where people thrive. It means striving to provide the best in apartment living, speaking boldly about new ideas for innovation, and inspiring creativity in the ways we work together. 

 

Our portfolio of high-quality properties in urban growth markets – New York City, Boston, Washington DC, Seattle, San Francisco, Southern California, and Denver – provides homes where people most want to live, work and play. We've got the best people in the business, as evidenced by our employee engagement scores and customer loyalty ratings. That’s why our employees say they are proud to work at Equity, a company that gives our residents a place where they can Live Remarkably, and offers a culture where our employees have the opportunity to thrive.

 

Equity Values

At Equity Residential, like our residents, our employees come from everywhere. A richly diverse work environment captures top talent, cultivates the best ideas, and creates the widest possible platform for success. By focusing on inclusion, these differences are harnessed to create value — in ideas, business practices, relationships, and employee engagement. As an Equal Opportunity Employer, we are committed to maintaining a diverse, inclusive and equitable work environment where our employees can thrive. 

All aspects of the employment process are merit-based. Every Equity employee is expected to maintain a work environment that is free from discrimination and harassment. Equity Residential does not discriminate against any employee or job applicant because of race, religion, color, creed, sex, sexual orientation, gender, sexual/gender identity/expression, age, pregnancy (including childbirth, lactation or related medical conditions), physical or mental disability, national origin, citizenship status, military (including uniformed service member or protected veteran) status, marital status, genetic characteristic or information, ancestry or any other characteristic protected by law. Equity Residential also prohibits retaliation against individuals who report harassment or discrimination, or participate in investigations into such conduct.

The Development group manages the development and construction of new multifamily communities, both directly and with third party joint venture development partners. We focus on strategic markets defined by the following characteristics: high barrier-to-entry, strong economic predictors like high demand, and attractive quality-of-life attributes.