Development Associate

Macdonald & Company; Houston (TX); On-site; USD 70,000 - 90,000; Full time

Job summary

A leading national industrial real estate development firm in Houston is seeking a Development Associate to support new industrial development opportunities. This role focuses on financial modeling, market analysis, and investment materials preparation. Candidates should have 2-4 years of relevant experience and strong Excel and Argus skills. You will work closely with senior leadership to evaluate and advance development opportunities. This position will allow you to play a key role throughout the development lifecycle.

Qualifications

• 2–4 years of experience in real estate development, acquisitions, investments, or real estate private equity.
• Strong financial modeling and underwriting skills within industrial real estate.
• Ability to synthesize complex information into clear investment presentations.

Responsibilities

• Build and maintain detailed financial models for industrial development projects.
• Conduct market research and competitive analysis to support site selection.
• Prepare investment memorandums for internal investment committee approval.

Skills

Financial modeling

Market analysis

Argus Enterprise

Communication skills

Analytical skills

Education

Bachelor’s degree in Real Estate, Finance, Economics, or a related field

Tools

Argus

Excel

PowerPoint

Job description

Macdonald & Company is pleased to be exclusively partnering with one of their favorite clients and a leading national industrial real estate development firm to find and appoint a couple of development associates or development analysts.

Development Associate to support the execution of new industrial development opportunities across key U.S. markets. This role will be focused on the front end of the development lifecycle, including financial underwriting, market analysis, and preparation of investment committee materials.

The position offers the opportunity to work closely with senior development leadership and play a key role in evaluating and advancing new development opportunities from initial sourcing through investment committee approval.

Key Responsibilities

Development Underwriting & Financial Analysis

• Build and maintain detailed financial models for industrial development projects, including ground-up and value-add opportunities.
• Analyze development budgets, project timelines, lease assumptions, and projected return metrics.
• Utilize Argus Enterprise to analyze in-place and projected cash flows, supporting underwriting and valuation analysis.
• Perform sensitivity analyses around rents, construction costs, lease-up assumptions, and exit cap rates.
• Evaluate development feasibility and risk across multiple project scenarios.

Deal Evaluation & Market Analysis

• Conduct market research and competitive analysis to support site selection and development strategy.
• Analyze market fundamentals including industrial supply pipelines, absorption trends, rent growth, and vacancy levels.
• Assist with the evaluation of land acquisition opportunities and development partnerships.

Investment Committee & Deal Materials

• Prepare investment memorandums and presentations for internal investment committee approval.
• Coordinate inputs from internal teams including development, construction, leasing, capital markets, and asset management.
• Summarize underwriting assumptions, key risks, and projected returns for senior leadership.
• Track and maintain active development pipeline reporting and project updates.
• Assist in coordinating due diligence during the pre-development phase, including entitlement, site planning, and consultant engagement.

Qualifications

• 2–4 years of experience in real estate development, acquisitions, investments, or real estate private equity.
• Strong financial modeling and underwriting skills, ideally within industrial real estate.
• Experience with Argus Enterprise and Excel-based financial modeling.
• Ability to synthesize complex information into clear investment presentations and materials.
• Advanced proficiency in Excel, Argus, and PowerPoint.
• Strong analytical, organizational, and communication skills.
• Bachelor’s degree in Real Estate, Finance, Economics, or a related field