Development associate/analyst

Employment Type

: Full-Time

Industry

: Miscellaneous



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Our Company Riaz Capital is a fully integrated development, construction and property management company, focused on addressing the changing housing needs of the millennial generation. Our latest projects are aimed at creating affordable and conveniently located housing for young professionals in the East Bay through ground up development projects. The Bay Area's tremendous growth has resulted in skyrocketing housing costs forcing young professionals to make hard choices about privacy and savings to find a reasonable housing option to call home. On average, Bay Area millennials are spending 48% of their income on housing verses a national average of 25%. As a result, Riaz Capital has launched a number of new projects around a workforce housing strategy focused on providing the missing middle demographic rent homes that are comfortable, cool and mostly importantly work with their financial goals. We raised a $35M fund in 2018, which we are pairing with a larger fund raised in 2019 to implement this affordable-by-design concept throughout the East Bay, with a Company goal of creating over $1B in assets under management by 2025. We are seeking highly motivated, forward thinking professionals to join our team in solving this important housing problem. The Riaz Capital team includes over 95 talented real estate investment, construction and operations professionals in Oakland. Our Principals have been successfully operating in the Bay Area since 1977. The Company currently owns and operates ~1,100 units, with $300 Million of assets under management (AUM). Riaz Capital has maintained consistent growth over the last 5+ years, and after the completion of three development projects currently in process, that number will increase to ~1,400 units with ~$400 Million AUM by end of 2019. Our integrated group of companies across development, construction, and property management delivers efficiency and long-term thinking to all our projects while allowing us to create above-market returns for our investors. As a vertically integrated development and construction company, we desire a highly motivated person who enjoys multi-tasking and working in a fast-paced environment. The ideal candidate is excited to own the success of their projects, as well as to contribute to the growth of a development Company. Development Associate/AnalystThe Development Associate or Analyst position is a unique opportunity for a candidate to work on the entire development process from start to finish. Experience will dictate if this will be an Analyst or Associate position. In this position you will gain significant multifamily real estate experience with a fast-growing real estate development, construction and management firm. You will be responsible for the entitlement process, managing the construction management team during construction, and working with the property management and leasing team to ensure the properties are leased up as quickly and efficiently as possible until stabilization.Primary job functions: · Manage the overall life cycle of a development project to ensure projects are successfully entitled, built and stabilized.· Responsible for Project SetupWork with VP of Development to create project schedules and budgets.Set up project files and systems.Setup and maintain accuracy of the project financial model.Lead neighborhood and community outreach for the projectSupport acquisitions team on due diligence to determine feasibility as needed.Set up and maintain development checklist for the life of the project.Maintain all project files and systems · Construction FinancingManage construction financing process to obtain a loan.Manage overall transaction.Work directly with lenders to get the project financed.Compile needs requested by lender and appraiser.Manage loan draw process with lender and accounting team and submit monthly loan draw.· Entitlement ProcessLead entitlement process for the project to ensure obtain planning approval and building permits per the schedule.Hire all architects and consultants for the design process.Manage architect and consultants throughout design and entitlement process.Lead project meetings during Planning process.Act on behalf of owner for Planning and Building department meetings and submittals. Form relationships with the City Planning and Building Department staff.Coordinate with construction team through the design process, and to ensure a clean handoff at the start of the project.· Pre-con and Construction Project ManagementEnsure construction schedules are consistently updated and current in the system.Ensure budgets are consistently updated and current in the system.Responsible for monthly project close process which includes reviewing and reconciling financial statements and job cost accounting, updating project cash position, preparing agendas, and leading cross-functional close meetings.Ensure construction management team obtains the necessary number of bids, and ensure projects are bought out and contracted in a timely and efficient manner.Manage coordination of owner RFI’s, submittals and specifications.Act as resolving function for construction team and consultant questions throughout the project.Have weekly project meetings with construction team and maintain development checklist and meeting minutes.Reinforce and follow up on action items.· Lease up and Stabilization· Support the VP of Development on growing and improving the development department and Company as a whole.Market analysis, zoning research and planning code review.General design and entitlement projects.Research and expand network of contractors, sub-contractors and consultants.Business Development with potential investors, lenders and partners.Construction administration and overall quality control.Any other duties as may be requested. Qualifications: The ideal candidate for this position will thrive in a highly entrepreneurial, social, and fast-paced environment. The candidate should be extremely motivated to improve their understanding of all aspects of the real estate investment and development field, be an enthusiastic team player, offer innovative ideas, and can manage multiple priorities. Excellent communication, analytical decision-making and follow-up skills are required. Experience will dictate if this will be an Analyst or Associate position. · Must desire a long-term career in multi-family real estate development.· Minimum of a BS or BA in Real Estate, Planning, Construction, Architecture or related discipline· MSRED not required, but preferred· 3+ years’ experience in Architecture, Development, Construction or a related field. · Proficiency in MS Office, including Word, Excel, Power Point and Project, Adobe Illustrator and AutoCAD· Ability to read and interpret architectural drawings and specifications· Strongly values communication, both written and verbal, between both internal team and external parties.· Self-starter with excellent time management and organizational skills· Team player who can prioritize varied tasks in a fast-paced environmentRiaz Capital is an equal opportunity employer and values diversity in the workplace.Salary: Commensurate with experienceStatus: Full-timeStart Date: ImmediatelyLocation: Oakland OfficeSDL2017

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