Development Operations Manager (Real Estate Development)

Position Title: Development Operations Manager (Real Estate Development)Company: Reef CapitalSalary: $140,000-$160,000Location: Lehi, UT; In-office with project travel as needed

About Reef: Reef is a Utah-based vertically integrated investment and development firm founded in 2005. Reef's team is currently involved in some of the most prominent development transactions in Utah and other targeted geographies across the United States.Built on two decades of success, our investment approach combines proven expertise with purposeful innovation. Reef's team has completed more than 500 transactions across all lines of business. In addition to our real estate investment strategy, Reef and/or affiliates own and operate various businesses that add significant long-term value to its projects. We have grown rapidly, growing from about 25 employees to well over 400, with managed assets on behalf of over 750 institutional and individual partners worldwide. With the motto "Expect the Best," Reef's most prominent developments include Black Desert Resort, a $2 billion luxury resort in Ivins, Utah; Marcella, a luxury private golf community in Park City, Utah; Tributer Resort, Virginia's newest premier private lakeside golf destination; Cornerstone Club, a 5,000-acre residential community, private club, and resort in Telluride, Colorado; Sweetens Cove, a renowned and evolving golf destination nestled in the Tennessee Valley; and the restoration of the historic Coco Palms Resort in Wailua, on the island of Kauai, Hawaii.Our culture is defined by a shared set of principles that guide how we think, collaborate, make decisions, and pursue success together. This mindset serves as the foundation for the five principles that define how we work together: first, we are One Reef, always prioritizing the success of the whole over individual agendas; we speak candidly and respond collaboratively; we move in solidarity once a decision is made; we take full accountability for outcomes in our domain; and we refuse to settle for anything less than extraordinary. These aren't aspirational values posted on a wall. They are the behaviors we hire for, develop, reward, and exhibit each day. Candidates who thrive at Reef bring energy, ownership, and a genuine commitment to raising the bar on everything they touch.Position Summary:Reef is seeking a Development Operations Manager to serve as the integration and intelligence backbone on some of our current and upcoming real estate development projects. The Development Operations Manager keeps Reef's development platform aligned, informed, and moving. Sitting between the project strategy group and project execution teams, this role owns the financial models, master schedules, and cash flow plans that turn approved strategy into executable plans, while also working to turn execution reality into clear, timely reporting back to leadership.This is an informational and analytical role, not a field execution one. The Development Operations Manager doesn't direct construction or manage consultants but ensures every material decision is made with a full understanding of its financial and schedule impact. The right candidate is equal parts financial analyst, project scheduler, and organizational connector, and is someone who can build a financial model, run a Gantt chart, and run a meeting with the same level of rigor.Responsibilities:Own and maintain the master financial model for each assigned project, overseeing the Development Analyst on updates

Evaluate scope, design, and scheduling decisions for impact on IRR, equity multiple, and returns

Prepare return scenarios (base, stress, upside) and present to leadership

Monitor compliance with capital plans, debt repayment schedules, and distribution waterfalls

Identify financial risks and variances early; escalate to Project Strategy Group through the Chief Development OfficerSupport financing decisions with return, liquidity, and risk analysis

Coordinate deliverables across Legal, Accounting, Finance/Capital Markets, Design, Development, Sales & Marketing, HR, Asset Management, and IT for each project

Own the master integrated project schedule (Gantt), tracking dependencies and critical path items

Monitor progress against milestones and flag schedule drift early

Keep financial projections current as decisions and delays occur

Prepare monthly Project Strategy Group agendas and decision memos

Manage weekly sync cadence with Development Directors, VPs of Development, and Project DirectorsTrack Project Strategy Group decisions and follow-through items to completion

Maintain current budgets, schedules, and risk registers; standardize documentation across platforms

Manage project-level cash flow forecasting, draw timing, and capital obligations; recommend countermeasures for cash shortages

Qualifications:Bachelor's degree in Real Estate, Finance/Accounting, Construction Management, Business, or related field required; MBA or MRED is a plus

Experience in real estate development, project finance, or development operations, with ownership of financial models and integrated schedules

Strong financial modeling skills (IRR, equity multiple, return scenarios)Working knowledge of the full development lifecycle, from underwriting through operations

Experience building and maintaining master schedules and tracking cross-department dependencies

Familiarity with construction draws, cash flow forecasting, and capital markets concepts

Excellent communication skills; able to translate complex data into decision-ready materials for leadership and governance bodies

Strong cross-functional coordination skills across Legal, Accounting, Finance, Sales & Marketing, HR, and ITHigh organizational discipline; comfortable owning meeting cadences and follow-through tracking

Sound judgment distinguishing execution-level issues from those requiring escalation

Company Benefits:401(k) Plan with Company MatchGenerous Health Plan with HSA MatchFlexible Paid Time-offDaily Company LunchesCell Phone Service AllowanceDiscounts at Company-owned Resorts and Golf Courses

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