Real Estate Underwriting Analyst – Needham, Massachusetts

Join a nationally recognized commercial real estate owner operator and support underwriting and forecasting for an existing retail portfolio. This is a hands-on financial modeling role where your analysis will be used by senior leaders and partners across Asset Management, Capital Markets, and Leasing to drive investment, leasing, and capital decisions.

One important note before you apply: this team requires strong ARGUS Enterprise experience. If ARGUS is not a core part of your current underwriting toolkit, this role will not be a fit.

Key Details
* Work Arrangement: Hybrid schedule, 4 days per week in Needham, 1 day remote
* Pay Range: $110,000 to $120,000 base salary plus a bonus target around 10 percent
* Benefits: Comprehensive Health, Dental, Vision, 401K with match, and additional perks

Why This Job is Awesome / Your Impact
* Step into a newly added seat created by portfolio growth, with direct ownership of underwriting outputs
* Get pulled into real decisions: leasing strategy, capital planning, refinancing, dispositions, and business plan updates
* Turn property level performance into portfolio level insights that shape value, returns, and capital allocation

Responsibilities
* Build and maintain ARGUS models for retail assets, with Excel models used for underwriting, valuation, and scenario work
* Refresh and manage assumptions (leasing, expenses, capital plans, market inputs) and roll updates into portfolio forecasts
* Track actual results against underwriting and business plan expectations, explain drivers of variance, and quantify impact
* Run scenarios and sensitivity analyses to evaluate risk, upside, and decision paths across the portfolio
* Support lease reviews and deal economics, including downtime, tenant backfills, TI, leasing commissions, rent spreads, NPV, NER, and incremental returns
* Analyze capital projects and redevelopment concepts, including return on cost, incremental NOI, and value creation metrics
* Assist with regular reforecast cycles using actuals plus updated leasing, capex, financing, and exit assumptions
* Package conclusions into materials that are clear, defensible, and ready for senior leadership and Investment Committee conversations
* Identify opportunities to streamline models, improve reporting cadence, and increase visibility into portfolio performance

Required Qualifications
* 3 to 5 years of commercial real estate experience in asset management, portfolio management, acquisitions, valuation, or another underwriting-focused role
* ARGUS Enterprise proficiency at a level where you can independently build, adjust, and maintain property models
* Advanced Excel skills with experience creating real estate underwriting models from scratch
* Working knowledge of core investment concepts: DCF, IRR, NPV, lease economics, and debt/refinancing analysis
* Strong written and verbal communication skills with comfort presenting conclusions to stakeholders
* Ability to commute to Needham four days per week