Real Estate Underwriter

Responsibilities

• Evaluate commercial real estate investment opportunities, build financial models, analyze deals, and guide investment decisions.
• Underwrite commercial real estate acquisitions and recapitalizations across hospitality, retail, and industrial asset classes.
• Build and maintain complex Excel financial models, including cash flow projections, IRR, equity multiple, and waterfall analyses.
• Analyze investment opportunities and think critically to identify risks, opportunities, and creative solutions.
• Structure and evaluate first mortgage, bridge loan, and preferred equity investments.
• Review key financial metrics including LTV, DSCR, debt yield, and exit scenarios.
• Conduct market research, rent analysis, cap rate analysis, and comparable property research.
• Prepare investment committee memos, deal summaries, and investor presentation materials.
• Review appraisals, environmental reports, title, and other due diligence materials.
• Communicate with brokers, lenders, attorneys, and third-party consultants throughout the transaction process.
• Support acquisitions and asset management by monitoring investment performance and underwriting assumptions.

Requirements

• 3-6 years of commercial real estate underwriting experience.
• Experience in real estate private equity, debt funds, investment banking, or commercial real estate finance.
• Strong Excel and financial modeling skills.
• Excellent analytical skills with the ability to evaluate complex real estate transactions.
• Great with numbers and able to interpret financial data to make sound investment recommendations.
• Experience working directly with brokers and other real estate professionals.
• Ability to analyze deals, identify opportunities, and think outside the box.
• Strong understanding of commercial real estate financial metrics including IRR, DSCR, LTV, debt yield, and equity multiple.
• Excellent communication and organizational skills.