Development Manager - Multi-Family

Position Description

Development Manager - Southeast

About Lockwood Development

Lockwood Development is a fully integrated real estate firm specializing in the development and production of affordable multifamily and senior housing across the Midwest and Southeast. The company was established in 1986 and has been directly involved in the development of over 6,000 residential units.

Primary Function:

As a Development Manager, you will be responsible for sourcing and analyzing multi-family residential development opportunities and ground-up development projects in the Southeast. You will have an opportunity to analyze complex business opportunities and issues to provide actionable insights into our investments and influence decision-making. The position is based in our office in Brunswick, GA.

The Development Manager reports to the Vice President of Development- Southeast.

Typical Duties:

• Prospect for new acquisition and development opportunities using various sourcing strategies including internet data sources, referrals, networking, broker relationships, broker listed properties, appraisers, lenders and other relationships.
• Complete underwriting and financial analysis for potential acquisition and development projects, including operating proformas, construction/renovation budgets, and investment return analysis. 
• Manage the predevelopment process to ensure timely submission of LIHTC and other funding applications.
• Manage the land entitlement process
• Perform market research to understand demographic, economic, and multi-family real estate trends of potential development/acquisition markets and sub-markets. 
• Participate in reviewing and analyzing due diligence related materials such as property financials, contracts, real estate taxes, capital expenditures, etc. 
• Prepare investment thesis summaries and presentations to investors and lenders.
• Assist with overall transaction support including legal matters, lender due diligence, third party inspections, investor relations, and closing preparation. 
• Collaborate with cross- functional partners such as Accounting, Construction, and Property Management to prepare accurate construction, renovation, and operational budgets for proformas and investment return analysis. 
• Prepare post-closing acquisition documents and summaries to Property Management and Asset Management to provide a seamless post-close transition process. 
• Assist with ad hoc projects and analysis related to real estate development and acquisition activities. 
• Must be available and willing to travel. 
• Participate in all assigned education and training programs.
• Maintain clear lines of communication. 
• Complete other regular duties or projects as directed or assigned. 

Skills and knowledge necessary for satisfactory performance include but are not limited to:

• 3 years of relevant multi-family real estate analysis and underwriting experience is required. 
• Bachelor’s degree in real estate, finance or related business discipline is required. 
• Valid Driver’s license.
• Experience with the LIHTC program and other government affordable housing
• Programs at the federal, state, and local levels is a plus.
• Experience with financial analysis and modeling.
• Understanding of the land planning, entitlement and permitting process.
• Proficient with Microsoft Office, specifically Excel. 
• Strong attention to detail, accuracy, and presentation skills. 
• Self-starter with strong initiative to take ownership and the ability to work independently.
• Strong project management and organizational skills, with the ability to multi-task and manage multiple projects and meet deadlines. 
• Ability to become proficient with internal software programs as necessary. 
• Possess strong financial analysis, analytical, and create problem-solving skills. 
• Exercise sound judgement and discretion at. 
• Excellent written and verbal communication skills. 
• Ability to work in a fast-paced, dynamic environment with changing priorities.
• Flexibility and ability to regularly work outside of normal business hours to meet deadlines if necessary.