ABOUT GREYSTAR
Greystar is a leading, fully integrated global real estate platform offering expertise in property management, investment management, development, and construction services in institutional-quality rental housing. Headquartered in Charleston, South Carolina, Greystar manages and operates over $350 billion of real estate in more than 260 markets globally with offices throughout North America, Europe, South America, and the Asia-Pacific region. Greystar is the largest operator of apartments in the United States, managing over one million units/beds globally. Across its platforms, Greystar has nearly $79 billion of assets under management, including over $34 billion of development assets and over $36.5 billion of regulatory assets under management. Greystar was founded by Bob Faith in 1993 to become a provider of world-class service in the rental residential real estate business. To learn more, visit www.greystar.com.
JOB DESCRIPTION SUMMARY
The Development Associate will contribute to both investment analysis and development management, supporting the assessment, acquisition, and delivery of living projects across Italy. Based in the Madrid office, the role will focus on the Italian market and will require recurrent travel to Italy. This role offers broad exposure across financial modelling, market research, development feasibility, planning processes, cost control, and reporting to senior management.
JOB DESCRIPTION
Key Role Responsibilities
Financial Analysis & Investment
- Conduct detailed financial modelling, valuation, and feasibility analysis of potential acquisitions and development opportunities.
- Develop and interpret complex financial models including multi-tier waterfall structures.
- Assist in budgeting, cost control, and cash flow monitoring of development projects throughout the lifecycle.
- Prepare financial and technical data required for investment memorandums, including detailed pro-forma construction budgets and feasibility studies.
- Support the negotiation of sale and purchase agreements with financial and technical analysis.
Development & Project Support
- Support the planning and approvals process, including analysis of planning permissions, zoning regulations, and compliance with Italian development control requirements.
- Assist in the preparation and monitoring of project plans, programme schedules, and cost documentation.
- Monitor budget and project schedule performance and contribute to regular progress reporting.
- Support the management of third-party relationships with consultants, contractors, and external stakeholders to ensure project delivery.
- Assist in ensuring all required permits and approvals are obtained and that technical quality standards are met.
Reporting & Presentations
- Prepare investment papers, market reports, and presentations for internal committees and senior stakeholders.
- Contribute to project internal reporting and approval presentations (DCSR, Pre-Flight, BLIC).
- Produce meeting minutes, progress reports, management reports, and quality reports as required.
Market Research & Strategy
- Conduct market research and sector analysis, identifying trends and opportunities in residential real estate.
- Maintain awareness of Flex Living, Build to Rent (BTR), and PBSA market dynamics in Italy.
- Contribute to the broader strategic objectives of development projects.
Knowledge & Qualifications
- Bachelor's degree in Finance, Business Administration, Real Estate, Accounting, Economics, or a STEM-related discipline.
- Demonstrable interest in real estate investment and development.
- Expert level proficiency in MS Office suite – Word, Excel, PowerPoint.
- Fluent in English and Italian.
- Working knowledge of Italian building regulations, technical building specifications, planning application processes, construction and procurement processes is required.
- Knowledge of multifamily (build to rent), student, or related residential asset classes (desirable).
Experience & Skills
- Previous experience (including internships or placement years) in real estate, investment banking, private equity, or corporate finance.
- Strong understanding of financial modelling, asset valuation, and investment analysis.
- Knowledge of the Italian planning system, including development approvals and regulatory compliance.
- Experience in development cost control, budgeting, and cash flow monitoring.
- Understanding of construction and technical processes related to real estate development.
- Experience in market research, analysis, and reporting.
- Strong knowledge of the Italian living real estate market, including relevant regulatory, planning, and permitting frameworks.
- Exposure to large-scale or phased development projects (desirable).
- Experience applying Environmental, Social & Governance (ESG) principles to development projects (desirable).
- Strong written and verbal communication skills; including the ability to effectively write and present reports and information.
- Excellent interpersonal skills including the ability to establish and maintain positive relationships, communicate with tact and diplomacy.
- Influence with impact at all levels.
- Strong analytical skills with meticulous attention to detail.
- Commercially minded, proactive, and solutions-oriented.
- Highly organised and capable of managing multiple workstreams and tight deadlines.
- Professional, collaborative, and adaptable team player.
- Commitment to developing a long-term career in real estate investment and development.
- Willingness to work in a dynamic, fast-paced, and collaborative environment.
Important Notice: Greystar will never request your banking details or other sensitive personal information during the interview process. Greystar does not conduct any interviews via text or messaging, and all communication will come from official Greystar email addresses (@greystar.com). If you receive suspicious requests, please report them immediately to AskHR@greystar.com.
