Please note: Fluent Italian language skills required for this role 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.

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.

About You We are looking for a commercially focused and analytical real estate professional to join our growing team. The successful candidate will have a degree in Finance, Business, Real Estate, Economics, Accounting, or a related STEM discipline, alongside experience in real estate, investment banking, private equity, or corporate finance. You will bring strong expertise in financial modelling, investment analysis, asset valuation, and development performance monitoring.

Fluent in both English and Italian, you will possess an excellent understanding of the Italian real estate market, including planning, permitting, regulatory frameworks, construction processes, and development delivery. You'll be highly organised, detail-oriented, and comfortable managing multiple priorities in a fast-paced environment,



while building effective relationships with stakeholders at all levels. Knowledge of residential asset classes such as Build to Rent, Student Accommodation, or other living sectors, as well as exposure to ESG initiatives and large-scale development projects, would be advantageous.

This is an excellent opportunity for someone seeking to build a long-term career in real estate investment and development within a dynamic, collaborative, and international environment.

About Greystar

Greystar is a leading, fully integrated real estate company offering expertise in investment management, development, and management of rental housing properties globally. The company's business model is unique in its ability to own, operate, and develop multifamily, student, and senior housing across the globe. Building a general platform with a local presence, Greystar continues to expand its geographic reach around the world, bringing a globally interconnected professional rental housing platform and industry funded with institutional capital to countries where the sector does not yet exist.

Greystar’s pan – European platform was established in 2013 and has scaled rapidly, now with investment, operational and development presence in the UK, Ireland, France, Denmark, the Netherlands, Germany, Austria, and Spain.

One of Greystar’s core values is Equality, and as such, we continue to pride ourselves on being an equal opportunities employer, accounting for all protected and identifiable characteristics. We truly value diversity of thought, background and of experience. Please reach out to the Talent Acquisition team to explore opportunities at Greystar in more detail or visit our careers site at https://jobs.greystar.com/ .

📌 Development Associate (Italian Market) (Madrid)
🏢 Greystar (International)
📍 Madrid