Development Intern

Built on a foundation of integrity, respect, and commitment, JPI stands out as one of the most active real estate developers and builders in the nation.  For more than 35 years, JPI has designed and developed communities with best-in-class homes and amenities. JPI is committed to data-driven management and continuous improvement. Its team of experts utilizes data – including unparalleled market research, proven business processes, and proprietary models – to ensure that every decision is strategic, focused, and produces exceptional multifamily communities with the best risk-adjusted returns. More than just great communities, JPI is focused on leaving a lasting impact on the communities where we build and is continually committed to “Building What Matters.”  JPI operates as a subsidiary of Sumitomo Forestry, which is recognized as one of the largest home builders in the United States.

Essential Functions & Responsibilities

Acquisition Underwriting

• Underwrite and evaluate investment opportunities.

• Track and understand market spot cap rates and relevant sale comps.

• Update the underwriting base model and other templates

• Capture information from relevant broker offerings (Rent comps, sale comps, etc.).

Development Pipeline Coordination

• Track investment opportunities in the pipeline and ensure information is up to date.

• Prepare weekly update reports on active opportunities for discussion with the team.

• Prepare comparative analysis and other ad hoc reports for sites in the pipeline.

Development Deal Analysis

• Update original underwriting of deals as new information is discovered through due diligence or underwriting standards have been updated.

• Prepare analysis and reporting necessary for Investment Committee meetings.

• Draft Letters of Intent (LOI) for deals

Reporting

• Create ad hoc reporting for potential and existing investments for internal committees, investors, lenders, and partners.

Market Research

• Monthly and Quarterly market research tasks- job/permit tracker, recent sales comp map, zoning map, supply map, & pipeline aerial

• Prepare comp slides for internal and external needs.

• Tour comparable properties & sites to gain valuable insight into competing amenities, demand drivers, absorption, and pricing.

• Obtain and maintain a database of competitor premiums and amenities that are deal specific.

Education, Work Experience, & Physical Requirements

• Bachelor’s degree or pursuing a Degree in Business, Finance, Accounting, Real Estate, Engineering, Math, or a related field required.

• This is an entry-level position, but prior coursework or internships that built an understanding of financial analysis and how to calculate and interpret return metrics (NOI, Cap Rate, IRR, NPV, Levered vs Unlevered returns, Return on Cost, Residual Value, etc.) would be useful.

Why work for us?
 

We have a 35-year track record of developing multifamily communities with responsibility, accountability, and integrity.  Our stated purpose is to:

• Transform Building

• Enhance Communities

• Improve Lives

JPI has an ambitious and exciting vision for how we will achieve this, which makes for a positive and dynamic work environment, with many opportunities for personal development and growth.  As well as our highly competitive offering of compensation and benefits, we are committed to:

• Transformative careers in a transformative company

• Comprehensive training and development

• Promotion from within at all levels of the organization

• Borderless Careers, based on performance, potential, and personal ambition

Industry Recognition

• NMHC - #1 Fastest Growing Developer; #2 Fastest Growing Building; #8 Largest National Developer; # 11 Largest National Builder

• Real Page – Most active multifamily developer in DFW for the past 8 years

• Dallas Business Journal Best Places to Work – 2023

• Dallas Business Journal – Largest DFW Real Estate Developers - #11

General Base Pay Range

Please note that this range is intentionally broad, as it reflects compensation for multiple roles across the organization and locations. The actual base pay offered will be determined based on a variety of factors, including the candidate’s overall experience, skills, internal equity with existing associates, and the Company’s budget at the time of the offer. This range applies to base salary only. Additional compensation, such as bonuses or incentive plans, may be available and will be discussed with the Recruiter during the interview process.

$20 - $23hr