Senior Investment Analyst - Underwriting & Investment ...

Role OverviewBehring Capital is a vertically integrated real estate investment and operating platform. We invest across multifamily, office, retail, mixed-use, and operating company assets, and we're looking for an Investment Analyst to join the team at the center of that process "” building models, preparing investment committee materials, and supporting transactions from sourcing through close.This role offers genuine breadth. You'll work directly alongside senior leadership, develop a strong command of institutional underwriting, and engage with the full lifecycle of deals across multiple asset types and strategies.Base salary range: $145,000 - $165,000Core ResponsibilitiesFinancial Modeling & UnderwritingDevelop comprehensive Excel-based financial models for acquisitions, ground-up developments, recapitalizations, refinancings, and platform-level strategic initiatives. Create discounted cash flow (DCF) analyses, sources and uses statements, pro forma cash flow projections, lease-up and stabilization models, sensitivity tables, and return metrics (e.g., IRR, equity multiple, MOIC). Accurately incorporate underwriting assumptions from senior leadership, ensuring internal consistency, logical flow, and alignment with market realities. Adhere to best-in-class model architecture: maintain transparent, auditable structures with modular design, error-checking mechanisms, and comprehensive documentation for seamless handoffs and reviews. Conduct robust scenario and sensitivity analyses to quantify downside protection, base-case viability, and upside potential, including stress testing for macroeconomic variables, cap rates, and operational risks. Investment Committee & Investor MaterialsDraft initial Investment Committee (IC) presentations and memoranda adhering to institutional-grade standards, including executive summaries, risk assessments, and recommendation frameworks. Synthesize complex model outputs into concise, visually compelling tables, charts, graphs, and exhibits optimized for senior stakeholder review and decision-making. Reconcile all financial data across models, IC decks, memos, and ancillary materials to eliminate discrepancies. Contribute to mid-year business plan revisions, annual operating plans, quarterly performance updates, and bespoke investor analyses (e.g., scenario planning for capital calls or distributions). Iterate efficiently on feedback through multiple revisions, maintaining version control and incorporating changes with exactitude. Diligence & Data Execution Process and scrutinize raw data sources, including rent rolls, historical operating statements, pro forma budgets, capital expenditure forecasts, third-party appraisals, market reports, and environmental/engineering assessments. Proactively detect data deficiencies, logical inconsistencies, (e.g., anomalous expense trends or lease rollover risks) and escalate with proposed resolutions. Facilitate due diligence coordination, respond to lender inquiries, and perform follow-up analyses to support transaction closings. Organize and maintain virtual data rooms, analytical workpapers, and centralized repositories for efficient team access and audit trails. Portfolio & Platform Support Aid in portfolio monitoring, including KPI tracking, variance analysis, and benchmarking against peers or internal hurdles. Assist with integrated analyses across verticals, linking real estate assets, operating entities, and platform initiatives to holistic outcomes. Build expertise in portfolio aggregation: understand how asset-level performance influences fund-level NAV, total returns, and investor reporting under frameworksPerformance ExpectationsProduce pristine, self-explanatory models that withstand rigorous scrutiny with few revisions. Exhibit accuracy and meticulous attention to detail in all deliverables. Accelerate proficiency through iterative feedback, demonstrating rapid adaptation and error reduction. Master institutional underwriting norms, including conservative assumption-setting and risk-adjusted return profiling. Required Qualifications & Technical Skills4-7 years in real estate private equity, investment banking, institutional advisory, or structured finance.Expert Excel skills "” building models from scratch, advanced functions (XIRR, XNPV, data tables), and clean model architecture.Strong foundation in DCF valuation, cash flow forecasting, and capital stack analysis.Clear, precise communication "” in models, presentations, and written materials.ARGUS Enterprise experience is a plus.Application RequirementsCandidates should submit:Resume highlighting relevant RE deal experience and technical achievements. A redacted sample financial model or investment memorandum demonstrating your modeling and analytical prowess. Pedigree is secondary to demonstrable quality and craftsmanship. 

Created: 2026-05-09