Development Associate: Underwrite, Manage & Grow Assets

AOG Living; Houston (TX); Presencial; USD 80.000 - 120.000; Tempo integral

Resumo da vaga

AOG Living in Houston seeks an Associate of Development to drive underwriting, execution, and asset management across the full lifecycle of development projects. You will build pro forma models, analyze markets, coordinate with third parties, and prepare investment materials for leadership review.

The role requires strong analytical skills, attention to detail, and the ability to move between deal execution and ongoing asset performance, with periodic travel to sites.

Qualificações

• Bachelor’s degree in Finance, Real Estate, Construction Management, Business or Economics.
• 2–5 years in real estate development, development underwriting, construction management, or asset management; multifamily development experience preferred.
• Advanced proficiency in Microsoft Excel, including complex financial modeling.

Responsabilidades

• Underwrite development opportunities with pro forma models, including construction costs, cash flow, and return metrics.
• Support deal pursuit, predevelopment activities, due diligence, entitlements, and coordination with municipalities and consultants.
• Prepare investment memoranda, presentations, and lender/investor packages for leadership review.
• Monitor construction progress against budget, schedule, and business plan; attend owner/GC meetings and site visits.
• Assist with asset management, pricing analyses, budgeting, and quarterly reporting for assets.
• Coordinate transition from construction to lease-up with property management and marketing teams.

Conhecimentos

Analytical thinking

Financial analysis

Problem solving

Communication skills

Organization

Team collaboration

Self-motivated

Interpersonal skills

Formação

Bachelor's degree in Finance, Real Estate, Construction Management, Business, Economics

Ferramentas

Excel

Descrição da vaga

Position Summary

The Associate of Development plays an all-encompassing role within AOG Living's Development team, supporting the full lifecycle of the company's development activity. This position is responsible for underwriting prospective development opportunities and executing on active deals from initial pursuit and predevelopment through construction and lease-up, as well as actively managing the performance of existing assets within the portfolio. The ideal candidate is a detail-oriented, analytical self-starter who is comfortable moving between deal-focused underwriting and execution work and ongoing asset management responsibilities.

Key Responsibilities

Development Underwriting & Execution

▪ Build and maintain detailed development pro forma models to underwrite prospective development opportunities, including construction cost estimates, cash flow projections, sensitivity analyses, and return metrics (IRR, equity multiple, cash-on-cash, yield-on-cost).

▪ Conduct market and submarket research, including rent comparables, land comparables, supply and demand trends, and competitive positioning, to support development investment theses and site selection.

▪ Support deal pursuit and predevelopment activities, including due diligence, entitlement and permitting processes, and calls and coordination with municipalities, utility providers, architects, engineers, and other third-party consultants.

▪ Prepare investment memoranda, presentations, and supporting materials on development opportunities for review by leadership and the investment committee.

▪ Support debt and equity financing efforts for development projects, including preparation of lender and investor packages and coordination of the closing process.

▪ Monitor construction progress against budget, schedule, and business plan, attending regular owner/GC meetings and site visits, and escalating risks or delays to senior team members.

▪ Prepare and submit monthly draw requests to lenders, reconcile draws against the approved budget and contractor pay applications, and track construction loan compliance and reporting requirements.

▪ Review contractor pay applications and change orders for accuracy and consistency with the approved budget and scope of work.

▪ Coordinate the transition from construction to lease-up, partnering with property management and marketing teams on lease-up strategy, staffing, and budgets.

▪ Assist with sourcing new development opportunities and land, and maintain relationships with brokers, municipalities, general contractors, and lenders.

Asset Management

▪ Actively monitor the operational and financial performance of existing assets against budget and business plan objectives.

▪ Partner with property management teams to review property-level financials, identify variances, and recommend corrective actions.

▪ Perform pricing analyses by strategically reviewing premiums and comps to determine new lease and renewal pricing.

▪ Build property budgets and business plans and revise financial projections on a quarterly basis to assess ongoing returns and drive performance against underwritten projections.

▪ Track key portfolio metrics and prepare regular performance reporting for internal stakeholders and investors.

▪ Evaluate value-add, capital expenditure, and repositioning opportunities for existing assets.

▪ Prepare refinancing, disposition, and hold/sell analyses for assets throughout the ownership period.

General

▪ Maintain and continuously improve underwriting models, draw templates, reporting templates, and internal development tracking systems.

▪ Prepare quarterly and annual investor reporting materials in coordination with the Development, Investments, and Accounting teams.

▪ Support ad hoc financial analysis and special projects as assigned by senior Development team members.

▪ Above all, own the work.

Qualifications

Qualifications

▪ Bachelor's degree in Finance, Real Estate, Construction Management, Business, Economics, or a related field required.

▪ 2-5 years of experience in real estate development, development underwriting, construction management, or asset management; multifamily development experience strongly preferred.

▪ Advanced proficiency in Microsoft Excel, including complex financial modeling.

▪ Strong understanding of real estate development finance, including capital stacks, construction loan draw processes, and standard return metrics.

▪ Working knowledge of entitlement and permitting processes and general contract structures (AIA documents, GMP, lump sum).

▪ Excellent analytical, quantitative, and problem-solving skills, with strong attention to detail.

▪ Strong written and verbal communication skills, with the ability to present analysis clearly to senior leadership and external partners.

▪ Highly organized with the ability to manage multiple deals and priorities simultaneously under deadline pressure.

▪ Self-motivated team player who is comfortable working both independently and collaboratively across departments.

▪ Willingness to travel periodically for site visits, construction meetings, and market tours.

Work Environment

This role is primarily performed in an office setting with regular use of a computer and standard office equipment. Frequent travel to development sites, construction meetings, and properties within the portfolio is required, along with adherence to all applicable jobsite safety requirements.