Acquisitions Analyst, Asset Management Services

JLL•Madison, CO

5d•Onsite

About The Position

JLL is seeking an Acquisitions Analyst for its Asset Management Services team. This role supports a client mandate within a regional investment team, evaluating various property types, markets, and investment strategies. The Analyst will focus on underwriting, market analysis, preparing client investment committee materials, due diligence, closing execution, and transaction data governance. The position involves close collaboration with client acquisition officers, cross-functional teams, and the Asset Management Services team, with opportunities to develop increasing independence. JLL's Asset Management Services is transforming its approach by building a data-enabled, capital-aware, and globally consistent platform that directly links real estate operations to investment strategy. This offer combines strategic Asset Management expertise, optimized analytical processes, and JLL's "quants-driven" approach to enhance asset-level performance and empower clients in making informed investment decisions.

Requirements

Bachelor's degree required
3-5 years in a relevant transaction-focused role, whether in acquisitions, asset management, investment banking, real estate private equity, or a similar analytical capacity
Track record underwriting commercial real estate deals and constructing property-level cash flow models
Comfortable working in Argus alongside Excel, PowerPoint, and Word
Grounded in real estate financing structures and standard modelling conventions
Familiar with leasing fundamentals, spanning contractual versus market rent, escalations, renewal assumptions, tenant improvements, leasing commissions, free rent, expense recoveries, and tenant options
Able to weigh market evidence, pinpoint the underwriting variables that matter most, and form an independent view on the investment
Solid quantitative and analytical capability paired with strong writing, presenting, and verbal communication
Careful and disciplined about keeping data accurate across models, memos, pipeline systems, and asset information platforms
Capable of juggling several assignments and transaction deadlines with minimal oversight
Works well both internally and with external transaction counterparties

Nice To Haves

Has run acquisitions end to end, from underwriting through investment committee approval, diligence, closing, and handoff to asset management
Background spanning different property types, markets, or investment strategies
Familiarity with underwriting development or redevelopment deals
Some exposure to joint ventures, incentive-management structures, promote waterfalls, and how transaction documents translate into modeled economics
Working knowledge of physical, environmental, lease, title, survey, zoning, tax, insurance, regulatory, financing, and closing considerations
Curious, resourceful, and willing to challenge unsupported assumptions

Responsibilities

Construct, maintain, and audit cash flow models at the property level in Argus and Excel.
Apply discounted cash flow and deal-specific valuation approaches to underwrite acquisition opportunities.
Model a range of scenarios, stress-testing assumptions such as rent growth, tenant rollover, leasing costs, capital expenditures, financing terms, hold period, and exit pricing.
Lead independent reviews of models, working through discrepancies to keep underwriting accurate.
Revisit and adjust underwriting as due diligence surfaces new operating, leasing, market, capital, financing, tax, insurance, or transaction-cost information.
Ensure underwriting at closing aligns with approved deal structure, final capital stack, closing statement, lender budget, and related investment records.
Evaluate market, submarket, and capital-market dynamics affecting each investment.
Analyze comparable sales and leases, competing properties, replacement cost, and how in-place economics compare to market, to inform property positioning.
Gauge tenant or resident demand, functionality of the asset, leasing assumptions, competitive positioning, market liquidity, and risk at exit.
Lead assigned diligence workstreams from award through closing, spanning kickoff, gathering documents, coordinating third-party reviews, tracking issues, securing internal sign-off, and completing checklists.
Keep the transaction timeline current, covering site access, contract execution, deposits, expiration of diligence periods, approvals, financing, and closing milestones.
Examine financial and operating diligence items, such as leases, lease abstracts, estoppels, historical operating statements, expense recoveries, other income, receivables, payables, deposits, prepaid rent, service contracts, warranties, tenant credit, and reports from third parties.
Coordinate with client engineering team to assess physical, environmental, development, capital, zoning, and permitting-related findings, folding their financial implications into underwriting.
Assist with reviewing closing statements, prorations, invoices, estoppels, sign-offs, completed checklists, and closing paperwork.
Stay ahead of open items, spot execution risks early, and raise them promptly.
Build out investment committee memoranda and presentation materials from established templates.
Write clear, focused analysis that lays out key assumptions, flags priority risks, and backs the investment recommendation.
Put together closing memoranda that tie closing underwriting back to investment committee underwriting and call out material changes.
Log outstanding action items and transition matters for handoff to the asset management team.
Take ownership of data accuracy, completeness, consistency, and timeliness across the deal pipeline tool and asset information system.
Cross-check data across models, investment committee materials, closing memoranda, source documents, pipeline entries, and the asset information system.
Input closing underwriting figures, capitalization, projected returns, and final costs into the asset information system.
Keep acquisition records organized and current in designated document-management and workflow platforms.
Coordinate handoff of finalized models, diligence findings, action items, transition matters, and supporting files to the asset management team and other relevant groups.
Look for ways to strengthen data quality, controls, process consistency, and reporting on transactions.
Partner effectively with client senior investment professionals, functional teams, operating partners, brokers, lenders, consultants, service providers, and outside counsel.
Manage multiple assignments at once, respond quickly to requests, and deliver models, memos, reports, and updates on schedule.
Spot and raise potential issues tied to investment, execution, guidelines, compliance, data, or controls.
Adhere to client risk controls, policies, procedures, and documentation requirements.
Act as a final check on the analytical accuracy and data quality of assigned deliverables.
Manage relationships across multiple client and JLL stakeholders, and share insight into client processes gained through this work to help inform how JLL's service model evolves over time.
Ensure all activities comply with JLL's ethical, legal, and operational standards.