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JPI · 15 hours ago

Development Intern

Riverbank, CA

Internship

Onsite

Intern

$20/hr - $23/hr

JPI is a leading real estate developer and builder with over 35 years of experience in creating multifamily communities. The Development Intern will provide analysis, research, and support to the West division in acquiring new land opportunities, including underwriting, market research, and document drafting.

Real Estate

Comp. & Benefits

Responsibilities

Underwrite and evaluate investment opportunities

Track and understand market spot cap rates and relevant sale comps

Update the underwriting base model and other templates

Capture information from relevant broker offerings (Rent comps, sale comps, etc.)

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

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

Draft Letters of Intent (LOI) for deals

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

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

Qualification

Financial analysisMarket researchInvestment underwritingData analysisDocument draftingCommunication skillsTeam collaboration

Required

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

Preferred

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.)