2027 Investment Analyst

Pzre; Washington (District of Columbia); On-site; USD 75,000 - 95,000; Full time

Job summary

Penzance is seeking an Investment Analyst to support underwriting, execution, and ongoing management of investments across acquisitions, development, asset management, and capital markets. You will underwrite live transactions early in your tenure and work directly with senior investment professionals to build a long‑term career in real estate private equity.

This role offers direct exposure to institutional real estate in the Mid-Atlantic, with relocation to Washington, DC.

Qualifications

• Near-term Spring 2027 or recent bachelor’s degree from a competitive undergraduate institution.
• Strong quantitative and analytical capability with sound commercial judgment.
• Excellent written and verbal communication skills.
• Demonstrated attention to detail and accuracy under transaction deadlines.
• Ability to prioritize competing workstreams across multiple live transactions.
• Ability to work independently and collaboratively within a transaction team.
• Demonstrated interest in building a long-term career in real estate private equity.
• Fluency with AI tools, including the ability to build custom tools that accelerate analytical workstreams.
• Proficiency in Microsoft Excel; experience with ARGUS Enterprise preferred.

Responsibilities

• Underwrite acquisition and development opportunities through complex financial analysis, including discounted cash flows, sources and uses, promoted and carried interests, and scenario and sensitivity analysis
• Perform valuations, sell/hold analyses, leasing analyses, and other critical investment decision analyses on new and existing investments
• Prepare memoranda for the Penzance decision-making committees and for prospective partners
• Leverage AI tools to accelerate research, underwriting, and diligence workstreams, and to build lightweight tools that improve the team's analytical speed and quality
• Prepare development budgets and track them against actual capital deployed through the development period
• Support site evaluation, including land assemblage economics, entitlement and zoning risk, utility and infrastructure availability, and the schedule assumptions that drive returns
• Conduct site inspections and market tours throughout the Mid-Atlantic
• Direct third-party diligence across legal, environmental, engineering, and title workstreams, assessing findings and determining which issues bear on underwriting, valuation, or closing risk
• Assist with arranging and closing debt financing for acquisitions and refinancings
• This role may be assigned other duties, as required, and the activities, duties, and responsibilities of this role may change at any time, with or without notice.

Skills

Quantitative analysis

Analytical capability

Communication skills

Attention to detail

Prioritization

Independence & teamwork

Interest in real estate private equity

AI fluency

Education

Bachelor's degree (Spring 2027)

Tools

ARGUS Enterprise

Microsoft Excel

Job description

The Investment Analyst supports the underwriting, execution, and ongoing management of Penzance's investments across acquisitions, development, asset management, and capital markets. Analysts underwrite live transactions early in their tenure and work directly with senior investment professionals.

The position offers direct exposure to institutional real estate investment in the Mid-Atlantic and is structured to develop the financial modeling, market research, presentation, and relationship-building capabilities required for a long-term career in real estate private equity. This position is expected to start Summer 2027.

ROLE & RESPONSIBILITIES

• Underwrite acquisition and development opportunities through complex financial analysis, including discounted cash flows, sources and uses, promoted and carried interests, and scenario and sensitivity analysis
• Perform valuations, sell/hold analyses, leasing analyses, and other critical investment decision analyses on new and existing investments
• Prepare memoranda for the Penzance decision-making committees and for prospective partners
• Leverage AI tools to accelerate research, underwriting, and diligence workstreams, and to build lightweight tools that improve the team's analytical speed and quality
• Prepare development budgets and track them against actual capital deployed through the development period
• Support site evaluation, including land assemblage economics, entitlement and zoning risk, utility and infrastructure availability, and the schedule assumptions that drive returns
• Conduct site inspections and market tours throughout the Mid-Atlantic
• Direct third-party diligence across legal, environmental, engineering, and title workstreams, assessing findings and determining which issues bear on underwriting, valuation, or closing risk
• Assist with arranging and closing debt financing for acquisitions and refinancings
• This role may be assigned other duties, as required, and the activities, duties, and responsibilities of this role may change at any time, with or without notice.

QUALIFICATIONS

• Ideal candidate is a near-term (Spring 2027) or recent recipient of a bachelor's degree from a competitive undergraduate institution, with a strong academic record
• Strong quantitative and analytical capability, with sound commercial judgment
• Excellent written and verbal communication skills
• Demonstrated attention to detail and accuracy while working under transaction deadlines
• Ability to prioritize competing workstreams across multiple live transactions
• Ability to work independently and collaboratively within a transaction team
• Demonstrated interest in building a long-term career in real estate private equity
• Fluency with AI tools, including the ability to build custom tools that accelerate analytical workstreams
• Proficiency in Microsoft Excel required; experience with ARGUS Enterprise preferred

Practical Requirements

• Willingness to relocate to Washington, DC. This position is based in the firm's DC office and is not remote
• Availability to travel for site inspections and market tours

ABOUT PENZANCE

Penzance is a fully integrated real estate owner, operator, developer, and fund manager. Founded in 1996, the firm has built a track record of successful investing in multifamily, industrial, data center, and other commercial properties across the Mid-Atlantic, creating a reputation for attention to detail and disciplined execution. Penzance professionals combine entrepreneurial and institutional real estate experience with deep local market knowledge. Its core competencies include acquisitions, development, asset management, leasing, property and construction management, capital markets and finance, fund management, and investor reporting. Over its history, Penzance has managed over $4.4 billion of gross asset value and today manages over $1.1 billion of discretionary capital on behalf of high-quality institutional investors through its series of flagship funds.

The pay range for this role is:

75,000 - 95,000 USD per year (washington dc)