Waypoint Residential is a vertically integrated real estate investment firm focused on the U.S. residential sector. Since 2011, Waypoint has invested over $4.6 billion across more than 29,000 multifamily housing units located nationwide.
Waypoint is seeking a Development Associate to join our growing regional office in Phoenix, AZ. This position will be an integral member of the team, primarily responsible for real estate analysis, creating pro forma projections, generating return analyses, and conducting market research for development and acquisitions. The individual will have direct interaction with senior personnel surrounding the sourcing, underwriting, and execution of transactions.
Specific responsibilities include:
- Create pro forma projections and investment models for new development opportunities. This function requires an understanding of apartment development mechanics, operating metrics, and operating statements.
- Generate return analyses for potential investments. This function requires a basic understanding of financial principles (time value of money, risk adjusted discount rates) and a working knowledge of key metrics (IRR, debt yield, cash on cash return).
- Conduct market research to support key assumptions. This function requires the analysis of historical and competitive market data, the assessment of apartment unit supply and demand generators, and the consideration of comparable transactions in the marketplace.
- Coordinate due diligence with brokers and third parties
- Organize and maintain pipeline of active opportunities
- Prepare internal Investment Committee presentations for deal approvals and provide support in connection with the conversion of IC memos into private placement memos in connection with capital raising activities
- 3-5 years of experience in commercial real estate field including multi-family experience
- Highly proficient in excel modeling (e.g., sensitivity tables, waterfalls, portfolio analysis, joint venture structures, multi-tiered waterfalls, etc.)
- Strong analytical capabilities
- Detail-oriented, with a zero-error approach to the delivery of work product
- Self-starter, able to work effectively in a small team
- Problem-solver seeking to contribute to areas beyond the direct scope of responsibility
- Excellent communication skills, both written and verbal
- Capable of multi-tasking across various projects