Development Operations Manager (Real Estate Development)

Reefcp; Lehi (UT); On-site; USD 140,000 - 160,000; Full time

Benefits offered by this job

401(k) Plan with Company Match

Generous Health Plan with HSA Match

Flexible Paid Time-off

Daily Company Lunches

Cell Phone Service Allowance

Discounts at Company-owned Resorts and

Job summary

Reef Capital in Lehi, UT is seeking a Development Operations Manager (Real Estate Development) to serve as the integration and intelligence backbone for current and upcoming projects. You will own financial models, master schedules, and cash flow plans, translating strategy into executable plans and reporting to leadership.

This informational and analytical role sits between strategy and execution, requiring strong finance, scheduling, and coordination skills to drive results.

Qualifications

• Experience in real estate development, project finance, or development operations, with ownership of financial models and integrated schedules
• Strong financial modeling skills (IRR, equity multiple, return scenarios)
• Working knowledge of the full development lifecycle, from underwriting through operations
• Experience building and maintaining master schedules and tracking cross-department dependencies
• Familiarity with construction draws, cash flow forecasting, and capital markets concepts
• Excellent communication skills; able to translate complex data into decision-ready materials for leadership and governance bodies
• Strong cross-functional coordination across Legal, Accounting, Finance, Sales & Marketing, HR, and IT

Responsibilities

• Own and maintain the master financial model for each project, overseeing the Development Analyst on updates
• Evaluate scope, design, and scheduling decisions for impact on IRR, equity multiple, and returns
• Prepare return scenarios (base, stress, upside) and present to leadership
• Monitor compliance with capital plans, debt repayment schedules, and distribution waterfalls
• Identify financial risks and variances early; escalate to Project Strategy Group through the Chief Development Officer
• Support financing decisions with return, liquidity, and risk analysis
• Coordinate deliverables across Legal, Accounting, Finance/Capital Markets, Design, Development, Sales & Marketing, HR, Asset Management, and IT for each project
• Own the master integrated project schedule (Gantt), tracking dependencies and critical path items
• Monitor progress against milestones and flag schedule drift early
• Keep financial projections current as decisions and delays occur
• Prepare monthly Project Strategy Group agendas and decision memos
• Manage weekly sync cadence with Development Directors, VPs of Development, and Project Directors
• Track Project Strategy Group decisions and follow-through items to completion
• Maintain current budgets, schedules, and risk registers; standardize documentation across platforms
• Manage project-level cash flow forecasting, draw timing, and capital obligations; recommend countermeasures for cash shortages

Skills

Financial modeling

IRR analysis

Project scheduling

Cross-functional coordination

Communication skills

Education

Bachelor's degree in Real Estate

Finance/Accounting degree

Construction Management background

MBA or MRED (a plus)

Job description

Position Title: Development Operations Manager (Real Estate Development) Company: Reef Capital Salary: $140,000-$160,000 Location: Lehi, UT; In-office with project travel as needed

About Reef

Reef is a Utah-based vertically integrated investment and development firm founded in 2005. Reef's team is currently involved in some of the most prominent development transactions in Utah and other targeted geographies across the United States.

Built on two decades of success, our investment approach combines proven expertise with purposeful innovation. Reef's team has completed more than 500 transactions across all lines of business. In addition to our real estate investment strategy, Reef and/or affiliates own and operate various businesses that add significant long-term value to its projects. We have grown rapidly, growing from about 25 employees to well over 400, with managed assets on behalf of over 750 institutional and individual partners worldwide.

With the motto "Expect the Best," Reef's most prominent developments include Black Desert Resort, a $2 billion luxury resort in Ivins, Utah; Marcella, a luxury private golf community in Park City, Utah; Tributer Resort, Virginia's newest premier private lakeside golf destination; Cornerstone Club, a 5,000-acre residential community, private club, and resort in Telluride, Colorado; Sweetens Cove, a renowned and evolving golf destination nestled in the Tennessee Valley; and the restoration of the historic Coco Palms Resort in Wailua, on the island of Kauai, Hawaii.

Our culture is defined by a shared set of principles that guide how we think, collaborate, make decisions, and pursue success together. This mindset serves as the foundation for the five principles that define how we work together: first, we are One Reef, always prioritizing the success of the whole over individual agendas; we speak candidly and respond collaboratively; we move in solidarity once a decision is made; we take full accountability for outcomes in our domain; and we refuse to settle for anything less than extraordinary. These aren't aspirational values posted on a wall. They are the behaviors we hire for, develop, reward, and exhibit each day. Candidates who thrive at Reef bring energy, ownership, and a genuine commitment to raising the bar on everything they touch.

Position Summary

Reef is seeking a Development Operations Manager to serve as the integration and intelligence backbone on some of our current and upcoming real estate development projects. The Development Operations Manager keeps Reef's development platform aligned, informed, and moving. Sitting between the project strategy group and project execution teams, this role owns the financial models, master schedules, and cash flow plans that turn approved strategy into executable plans, while also working to turn execution reality into clear, timely reporting back to leadership.

This is an informational and analytical role, not a field execution one. The Development Operations Manager doesn't direct construction or manage consultants but ensures every material decision is made with a full understanding of its financial and schedule impact. The right candidate is equal parts financial analyst, project scheduler, and organizational connector, and is someone who can build a financial model, run a Gantt chart, and run a meeting with the same level of rigor.

Responsibilities

• Own and maintain the master financial model for each assigned project, overseeing the Development Analyst on updates
• Evaluate scope, design, and scheduling decisions for impact on IRR, equity multiple, and returns
• Prepare return scenarios (base, stress, upside) and present to leadership
• Monitor compliance with capital plans, debt repayment schedules, and distribution waterfalls
• Identify financial risks and variances early; escalate to Project Strategy Group through the Chief Development Officer
• Support financing decisions with return, liquidity, and risk analysis
• Coordinate deliverables across Legal, Accounting, Finance/Capital Markets, Design, Development, Sales & Marketing, HR, Asset Management, and IT for each project
• Own the master integrated project schedule (Gantt), tracking dependencies and critical path items
• Monitor progress against milestones and flag schedule drift early
• Keep financial projections current as decisions and delays occur
• Prepare monthly Project Strategy Group agendas and decision memos
• Manage weekly sync cadence with Development Directors, VPs of Development, and Project Directors
• Track Project Strategy Group decisions and follow-through items to completion
• Maintain current budgets, schedules, and risk registers; standardize documentation across platforms
• Manage project-level cash flow forecasting, draw timing, and capital obligations; recommend countermeasures for cash shortages

Qualifications

• Bachelor's degree in Real Estate, Finance/Accounting, Construction Management, Business, or related field required; MBA or MRED is a plus
• Experience in real estate development, project finance, or development operations, with ownership of financial models and integrated schedules
• Strong financial modeling skills (IRR, equity multiple, return scenarios)
• Working knowledge of the full development lifecycle, from underwriting through operations
• Experience building and maintaining master schedules and tracking cross-department dependencies
• Familiarity with construction draws, cash flow forecasting, and capital markets concepts
• Excellent communication skills; able to translate complex data into decision-ready materials for leadership and governance bodies
• Strong cross-functional coordination skills across Legal, Accounting, Finance, Sales & Marketing, HR, and IT
• High organizational discipline; comfortable owning meeting cadences and follow-through tracking
• Sound judgment distinguishing execution-level issues from those requiring escalation

Company Benefits

• 401(k) Plan with Company Match
• Generous Health Plan with HSA Match
• Flexible Paid Time-off
• Daily Company Lunches
• Cell Phone Service Allowance
• Discounts at Company-owned Resorts and Golf Courses