Development Intern

About The Company

Built on a foundation of integrity, respect, and commitment, JPI stands out as one of the most active privately held real estate companies in Dallas-Fort Worth and Southern California. For more than 30 years, JPI has built "Quality for our Customers," designing and developing communities with exceptional services and amenities. Our team 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 aimed at producing the best multifamily assets with the best risk-adjusted returns. Our teams are continuously growing and always seeking great talent to join the JPI Family.

People are our #1 asset, and we are a People First culture. In addition to our unique business strategy, JPI counts its people as a clear differentiator. JPI built a culture that begins with its people and intentionally attracts, retains, and grows the best talent in the industry. Led by values and principle-based leadership, the JPI team approaches every effort with responsibility, accountability, and integrity.

Essential Duties and Responsibilities:

Acquisition Underwriting

• Underwrite and evaluate investment opportunities sourced by Managers

• Track and understand market spot cap rates and relevant sale comps

• Update and proof the underwriting base model and other templates

• Capture information from relevant broker offerings (expenses, rents, etc.)

• Capture broker contact information and collect relevant information/documents

Development Pipeline Coordination

• Track investment opportunities in the pipeline and ensure information is up to date

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

• Prepare weekly update reports on deals under construction, under contract, etc.

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

Development Deal Analysis

• Update original underwriting of deals as new information is discovered through due diligence or underwriting standards have been updated

• Prepare analysis and reporting necessary for Investment Committee meetings

• Compile research from Witten, Meyers, and Axiometrics to analyze markets

• Draft Letters of Intent (LOI) for deals

Reporting

• Create ad hoc reporting for potential and existing investments for internal committees, investors, lenders and partners.

Market Research

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

• Prepare comp slides for internal and external needs

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

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

Non-Essential Duties and Responsibilities

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

• Other duties as assigned

Knowledge and Experience Required:

• Bachelor's degree or pursuing Degree in Business, Finance, Accounting, Real Estate, Engineering, Math, or related field required.

• This is an entry level position, but 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 paramount.

Why work for us?

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

• Competitive annual and milestone bonus program

• Medical, Dental, Vision and Life Insurance

• Health Savings Account

• 401(k) with company match

• Flexible Spending Accounts (Dependent & Medical Reimbursement)

• Vacation Time, Holidays, PTO

• Paid Volunteer time

• Tuition Assistance

• Adoption Assistance

• Employee Referral Bonuses