Wexford Capital LP is seeking a Development Associate to join its real estate private equity investment team based in West Palm Beach, FL with an immediate start date. Wexford manages a ~$1B real estate portfolio comprised of 21 residential and 29 commercial assets located in 10 U.S. States and Canada with a focus on the southeast and southwest U.S. including 12 construction projects at various stages. Given the team’s recent and expected continued growth, Wexford is seeking to hire a full-time Development Associate to take the lead role in overseeing all development and construction related activities within the portfolio working on both joint-venture investments with operating partners and on independently owned development assets. In addition, the Development Associate will be expected to assist the investment team in their pursuit of new development projects and other asset management work as needed. Over time an ideal candidate will be able to help source direct investment opportunities and oversee transactions from acquisition through completion of development. The role will require the individual to multi-task and prioritize assignments with limited oversight.
- Oversee all aspects of the development process including pre-development, pre-construction, construction, closeout and pre-operation phases of Wexford’s and its affiliates projects.
- Assist in the day-to-day management of development projects including the oversight of development partners, project contractors and consultants.
- Work with the Investments team to provide due diligence information and feasibility analysis of potential acquisitions, including production of massings, review of zoning and other ordinances effecting development, costing exercises from the general contractor community and plan and construction document review.
- Assist in negotiating and drafting contract terms and scope with design consultants and contractors.
- Responsible for reviewing project budgets and timelines, ensuring milestones are met on time and within budget.
- Provide reports related to project status to Investments team and other stakeholders.
- Assist in securing the appropriate approvals, certifications, permits, etc. from city and other government agencies as required.
- Responsible for maintaining and executing project contracts in accordance with department and corporate requirements.
- Manage project documents including discretionary and non-discretionary approvals, agency releases/declarations/determinations, easements, covenants, tract maps, construction documents and related contracts, A/E design and engineering plans and specifications, change orders, shop drawings, allowance selections, and closeout documentation.
- Tracking and reporting project status to Investments team
- Review and track monthly construction progress reporting received from partners including but not limited to schedules, applications for payment, etc.
- Microsoft Excel
- Ability to prepare massings to help assess site feasibility (CAD or alternate software skills)
- Ability to understand zoning and other code requirements
- Ability to read construction drawings
- Self-motivated and diligent
- Strong communication skills
- Detail oriented
EDUCATION/EXPERIENCE REQUIREMENTS: (including certification, licenses, etc.)
- Bachelor’s degree in Real Estate Development, Design/Architecture, Construction or related major. Advanced Degree preferred.
- Minimum of five years' experience in real estate development and/or construction with demonstrated knowledge of real estate development and construction process including a focus in project management. Applicant must evidence his / her experience by pointing directly to projects that he / she successfully managed the development of.
- Must have experience developing residential property types (multifamily, senior housing, and for sale condominium projects comprise the bulk of our development portfolio). Commercial develop experience is a bonus but not mandatory.
Start Date: Immediate Desired
Office Location: West Palm Beach, FL
Compensation: Competitive salary (based on experience level) and benefits package, plus discretionary performance based bonus. The Development Associate will also have the opportunity to invest in Wexford’s and its affiliates real estate deals after 6 months of employment.
- Project Management
- Hospitality / Entertainment
5+ to 7 years
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