Investment Associate | Development

The Invesment Associate is responsible for supporting the acquisition, underwriting, and execution of ground‑up development and redevelopment projects from initial feasibility through construction and stabilization. This role is designed for development-oriented professionals who want hands‑ exposure to execution while building strong investment judgment and capital structuring expertise. The Investment Associate partners closely with senior development and investment professionals to evaluate opportunities, manage risk, and support successful delivery of approved projects.

At Buckingham, our standard is to push the standard. We take a customer approach to all projects, big or small. Real estate is an investment and at Buckingham, our biggest investment is our people. Our diverse teams are blended with individuals who foster the company’s entrepreneurial spirit, have unparalleled industry expertise and aren’t afraid to exceed expectations. Our team members are valued and encouraged to explore creativity, to be free‑thinkers that bring outside‑the‑box solutions.

We offer the opportunity to build the future. From our branded onboarding and orientation, First Day by Design, you’ll be empowered to seek new challenges, to earn respect and the admiration of others. Recognized as a consecutive year Best Places to Work awardee, we build our future leaders through our professional development programs, paid tuition and certification programs and executive coaching.

• Minimum of 2 years of experience in real estate development, investments, or a related role with direct exposure to development underwriting and execution.
• Demonstrated experience building and maintaining development financial models, including sensitivity and scenario analysis.
• Working knowledge of zoning, entitlements, and the development process from site acquisition through construction.
• Experience supporting financing and transaction execution, including exposure to capital stacks, joint ventures, and return waterfalls.
• Experience with public incentive processes, including tax increment financing, abatements, or other development‑related incentive programs.
• Strong understanding of the deal negotiation process and how negotiated terms translate into underwriting assumptions and investment outcomes.
• Bachelor’s degree in Real Estate, Finance, Economics, Engineering, or a related field.
• Strong written and verbal communication skills with the ability to explain assumptions, risks, and conclusions clearly.

• Ground‑up development experience in multifamily, mixed‑use, or other complex real estate projects.
• Deeper experience with joint venture structuring, promote mechanics, and return waterfall analysis.
• Exposure to land acquisition negotiations and development‑related legal documentation.
• Experience preparing investment memoranda or materials for internal approvals, lenders, or equity partners.
• Familiarity with working across development, construction, asset management, and capital market teams.
• Demonstrated ability to oversee or review work prepared by junior team members.

• Underwrite ground‑up development and redevelopment opportunities from initial feasibility through investment approval.
• Build and maintain development financial models incorporating budgets, schedules, operating assumptions, and exit scenarios.
• Synthesize zoning, entitlement, design, construction, market, and negotiated deal inputs into clear feasibility conclusions.
• Identify key development risks and evaluate their impact on cost, schedule, and returns.
• Coordinate due diligence activities including zoning and entitlement review, environmental and geotechnical reports, surveys, and market studies.
• Interface with municipalities, consultants, and third‑party advisors to advance entitlement, permitting, and incentive‑related efforts.
• Translate diligence findings into underwriting adjustments and development strategy recommendations.
• Support transaction execution, including land acquisitions, joint venture formations, and financing processes.
• Analyze sources and uses, capital stacks, and return waterfalls across alternative financing…