Development Intern
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Job Description
About The Company
JPI is a highly active real estate developer and builder in the United States, operating for over 35 years. Built on a foundation of integrity, respect, and commitment, they are known for designing and developing communities with top-tier homes and amenities. JPI distinguishes itself through its data-driven approach to management and continuous improvement. Their team leverages extensive market research, established business processes, and proprietary models to make strategic decisions, resulting in exceptional multifamily communities with strong risk-adjusted returns. Beyond creating excellent communities, JPI emphasizes leaving a positive lasting impact on the areas where they build, reflecting their commitment to “Building What Matters.” JPI is a subsidiary of Sumitomo Forestry, a major home builder in the U.S.
About The Job: Development Intern
This part-time, hourly paid internship is based in JPI’s Dallas office and focuses on the Texas market. The intern will provide crucial analytical, research, and support functions across all aspects of the Central division’s operations. This encompasses the entire development lifecycle, from acquiring new assets to managing and disposing of existing properties.
Essential Duties and Responsibilities:
• Acquisition Underwriting: Underwrite and evaluate investment opportunities; track market cap rates and comparable sales; update and verify underwriting models and templates; gather data from broker offerings (expenses, rents, etc.); collect broker contact information and relevant documents.
• Development Pipeline Coordination: Track investment opportunities; maintain up-to-date information; prepare weekly reports on active opportunities and deals in progress (under construction, under contract, etc.); create comparative analyses and ad hoc reports for projects in the pipeline.
• Development Deal Analysis: Update initial underwriting based on new due diligence findings or updated standards; prepare analyses and reports for Investment Committee meetings; compile research (Witten, Meyers, Axiometrics) for market analysis; draft Letters of Intent (LOI) for deals.
• Reporting: Generate ad hoc reports on potential and existing investments for internal committees, investors, lenders, and partners.
• Market Research: Conduct monthly and quarterly market research, including job/permit tracking, sales comparison mapping, zoning mapping, supply mapping, pipeline aerial analysis, and preparation of comparative slides for internal and external use. Tour comparable properties and sites to gain insights into amenities, demand, absorption, and pricing. Maintain a database of competitor premiums and amenities.
Non-Essential Duties and Responsibilities:
• Network within the CRE industry (e.g., TREC, ULI).
• Other duties as assigned.
Knowledge and Experience Required:
• Bachelor’s degree (or actively pursuing) in Business, Finance, Accounting, Real Estate, Engineering, Math, or a related field.
• Prior coursework or internships demonstrating understanding of financial analysis and the calculation/interpretation of return metrics (NOI, Cap Rate, IRR, NPV, Levered vs. Unlevered returns, Return on Cost, Residual Value, etc.) is essential. This is an entry-level position.
