What are the responsibilities and job description for the Development Associate/Sr. Associate position at Blue Heron Asset Management, LLC?
About Blue Heron
Blue Heron Asset Management, LLC is a private equity real estate investment management and development firm based in Raleigh, North Carolina. The firm seeks to achieve superior risk-adjusted returns within well-balanced and actively managed investment funds with a primary focus on the acquisition and development of multifamily and mixed-use properties in high-growth southeastern U.S. markets.
Role Overview
Blue Heron is seeking a proactive, organized, and detail-oriented candidate to join us as an Associate or Sr. Associate on our Development team. This person will participate in all aspects of real estate development including deal sourcing, underwriting, project finance, and project management. The position will report to the Director of Development and will support a number of currently active investments as well as investment sourcing and underwriting. This full-time role is based in Blue Heron’s Raleigh, NC office and will require some travel.
Key Responsibilities
Investment Sourcing & Underwriting:
- Proactively identify and source new potential real estate development opportunities through market research, networking, and relationship building.
- Conduct thorough financial underwriting and feasibility analysis of potential investments, including developing detailed proformas and financial models.
- Analyze market trends, comparable sales, and rental data to inform underwriting assumptions and investment recommendations.
- Prepare investment memoranda and presentations for internal and external stakeholders.
Project Management & Execution:
- Manage and coordinate all phases of the development lifecycle, from due diligence and entitlement through construction and completion.
- Develop and maintain project schedules, budgets, and deliverables, ensuring adherence to established timelines and financial targets.
- Maintain clear and consistent communication between all parties involved in the development process.
- Oversee and coordinate with architects, engineers, contractors, consultants, and other project stakeholders.
- Oversee construction activities, ensuring compliance with approved plans and specifications.
- Provide regular internal reporting on project status, including budget, schedule, and risk assessments.
Due Diligence, Entitlements:
- Conduct comprehensive due diligence on potential development sites, including zoning, environmental, and title reviews.
- Manage the entitlement process, including applications, hearings, and negotiations with local municipalities and agencies.
- Monitor and ensure compliance with relevant zoning regulations, building codes, and land use policies.
Candidate Qualifications
- Bachelor’s degree in finance, business administration, engineering, construction management, or a related field
- Minimum 4 years experience in development, finance, investing, construction project management, or a related field
- Experience in real estate or the financial services industry, particularly in private equity, venture capital, or asset management, is preferred
- Direct experience with multifamily design or construction preferred
Candidate Core Competencies
- Proven ability to manage multiple projects, coordinate multi-disciplinary teams (architects, engineers, contractors), and deliver on established timelines and budgets
- Demonstrated ability to manage multiple tasks and meet deadlines
- Excellent ability to convey complex information clearly
- Demonstrated ability to identify challenges and develop solutions
- Advanced proficiency in Microsoft Office Suite (Excel, PowerPoint, Word) for data analysis, presentations, and reporting
- Ability to build and maintain positive relationships with colleagues and contribute to a collaborative team environment
- Adaptability to thrive in a dynamic environment and manage changing priorities
- Openness to feedback for professional growth
Compensation and Benefits
Competitive compensation to be determined based on candidate’s experience and qualifications. Blue Heron offers a robust benefits package including:
- medical, dental, vision, life, and long-term disability insurance
- 401(k) with employer matching
- competitive PTO policy
- volunteer days
Blue Heron is an equal opportunity employer and complies with all applicable federal and state laws.
If you'd like to share more about your experience and interest in the Development Associate/Sr. Associate role, please email careers@blueheronfund.com
Unsolicited Resumes from Third-Party Recruiters
Please note that we do not accept unsolicited resumes from third-party recruiters unless such recruiters are engaged to provide candidates for a specified opening. Any employment agency, person, or entity that submits an unsolicited resume does so with the understanding that Blue Heron will have the right to hire that applicant at its discretion without any fee owed to the submitting employment agency, person, or entity.
