Real Estate Underwriting Analyst

ProPivotal; Needham (MA); Hybrid; USD 110,000 - 120,000; Full time

Benefits offered by this job

Health insurance

Dental insurance

Vision insurance

401K with match

Comprehensive benefits

Job summary

ProPivotal in Needham, MA is seeking a hands-on financial modeling professional to support underwriting and forecasting for an existing retail portfolio. This role reports to senior leaders across Asset Management, Capital Markets, and Leasing.

You will build and maintain ARGUS models, refresh assumptions, and run scenarios to inform leasing, capital planning, and value creation. The position is hybrid with four days in Needham and one day remote.

Qualifications

• 3–5 years CRE experience in asset/portfolio management or underwriting.
• ARGUS Enterprise proficiency, able to build and maintain property models.
• Advanced Excel with real estate underwriting models.
• Familiar with DCF, IRR, NPV, lease economics, and debt analysis.
• Strong written and verbal communication; able to present to stakeholders.
• commuting to Needham four days per week.

Responsibilities

• Build and maintain ARGUS models for retail assets and underwriting.
• Refresh assumptions and roll updates into forecasts.
• Track results vs underwriting; explain variance drivers.
• Run risk and scenario analyses for portfolio decisions.
• Support lease reviews, deal economics, and TI/commissions/NPV/NER.
• Analyze capex and redevelopment for return on cost.
• Assist reforecast cycles with updated leasing and financing.
• Prepare concise materials for senior leadership and Investment Committee.
• Identify opportunities to streamline models and reporting cadence.

Skills

Financial modeling

Underwriting experience

Communication

Portfolio management

Analytical thinking

Tools

ARGUS Enterprise

Excel

Job description

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