Magellan Development Group is a premier developer and manager of urban communities that combine innovative architectural designs, high quality construction, and superior asset management. As Magellan continues its national expansion, we are seeking a Development Associate responsible for supporting the day-to-day real estate development activities of the company and its pursuit of new development opportunities. This position will report directly to the Executive Team.
The ideal candidate will possess an MBA or Masters degree in Real Estate / Development, however a Bachelor’s degree in finance, economics, or real estate will be considered. Minimum of three plus years of experience in real estate required. Must have computer proficiency in Word and PowerPoint and considerable expertise in Excel. The candidate must be able to work independently as well as in a team environment.
· Performing and/or reviewing financial analysis of real estate investment opportunities. Creating and updating financial models for potential projects, acquisitions, or asset management decisions.
· Underwriting prospective transactions, incorporating market data, and historical performance.
· Researching zoning and site encumbrances on prospective development projects.
· Helping to negotiate letters of intent and joint venture agreements for new projects.
· Helping inform and oversee project strategy.
· Helping to manage external partners throughout the pre-development and development process.
· Evaluating capitalization and financing strategies for new and existing assets.
· Assembling market research on supply/demand fundamentals and maintaining competitive set analysis for each targeted property type/submarket.
· Writing/reviewing investment offering memoranda for proposed transactions.
Candidates are strongly encouraged to provide examples of financial models and writing samples previously completed in either an academic or workplace setting.
The position will be based in Chicago, Illinois at Magellan’s corporate office.
To learn more about Magellan Development, please visit our website at www.magellandevelopment.com