Analyst, Asset Management & Capital Markets

Summary:

A prominent commercial real estate company is currently seeking an Analyst to join its Capital Markets and Investments team. Based in Rockville, MD, this role will be central to the firm’s investment underwriting, asset valuation, and capital markets execution functions. The position requires close collaboration with the asset management, development, leasing, accounting, treasury, and legal teams. Although technically grounded in detailed financial analysis, this role offers a compelling platform for professional growth across real estate investment strategy, capital markets, and portfolio management.

Essential Duties and Responsibilities:

• Investment Underwriting & Financial Analysis
• • Construct and maintain financial models for acquisitions, recapitalizations, and joint ventures across multifamily, office, retail, and mixed-use product types.
• • Underwrite prospective acquisitions including property-level cash flow modeling, lease-by-lease analysis, mark-to-market assessments, and hold/sell/recapitalize evaluations.
• • Prepare investment committee memos, executive summaries, and deal briefs that synthesize quantitative analysis with market context and strategic rationale.
• • Run sensitivity and scenario analyses key value drivers including rent growth, cap rate, interest rates, and construction cost escalation.
• • Support the annual asset valuation process including cap rate-based valuations across the portfolio.
• • Track and synthesize market data including sales comps, leasing comps, cap rates, and capital markets conditions to inform underwriting assumptions.
• • Analyze joint venture structures including waterfall and promote mechanics, preferred return thresholds, and distribution scenarios under multiple IRR outcomes.
• • Own all financial deliverables required to advance investment decisions from initial screening through closing.
• • Support the annual asset valuation process including cap rate-based valuations across the portfolio.

• Capital Markets & Transaction Execution
• • Support debt and equity capital markets activity including new loan originations, refinancings, loan modifications, and equity raises.
• • Compile and organize loan closing packages, lender due diligence materials, and sponsor financial statements for submission to lenders.
• • Model debt structures including fixed vs. floating rate analysis, DSCR/LTV covenant tracking, and prepayment analysis.
• • Assist in the preparation of financing requests, financial summaries, and marketing materials for investment sales and equity raises.
• • Maintain the firm’s transaction pipeline database and deal tracking system including status updates, key milestone dates, and outstanding deliverables.
• • Monitor macroeconomic and capital markets conditions including SOFR/Treasury benchmarks, lending spreads, and institutional fund performance.
• • Coordinate with title, escrow, and legal teams on transaction closings, funding confirmations, and post-closing reconciliations.
• • Establish and enforce best practices for financial models, deal memos, and transaction documentation across the team.

• Knowledge, Skills, and Abilities necessary to perform essential functions:
• • Bachelor’s degree in Real Estate, Finance, Economics, or a related field; CFA, MBA, or MSRE is a plus.
• • One to three years of commercial real estate finance experience, preferably in investment banking, institutional investment management, or a private real estate firm.
• • Proficient financial modeling skills in Microsoft Excel, including DCF analysis, waterfall mechanics, and multi-scenario sensitivity analysis.
• • Proficiency in Argus Enterprise is strongly preferred.
• • Understanding of real estate capital structures, debt instruments, and joint venture economics.
• • Exceptional written and verbal communication skills with the ability to synthesize complex financial analysis into clear, executive-ready narratives.
• • Strong attention to detail and commitment to accuracy under deadline pressure.
• • Ability to manage multiple work streams independently while consistently delivering high-quality work.
• • Fluency in using AI tools to drive workflow efficiency and analytical productivity.

Job Demands:

A minimum of 40 hours per week is required Monday through Friday on site at Lerner’s HQ in Rockville, MD. Individuals should be able to reach above and below, stoop and bend, sit, walk, and stand. Individuals should also be able to lift, carry and/or move items up to 15lbs.

Additional Note:

The above statements are intended to describe the general nature and level of the work required. They are not exhaustive lists of all duties and responsibilities, knowledge, skills, abilities, physical job demands and working conditions associated with the job. Successful candidates will seek additional duties to master.

EEO Statement:

All qualified applicants to Lerner are considered for employment without regard to race, color, religion, age, sex, sexual orientation, gender identity, national origin, disability, veteran's status, or any other protected characteristic.