Associate, Asset Management & Investments

Marquee Development•Chicago, IL

4d•$110,000 - $130,000•Onsite

About The Position

Marquee Development is a full-service real estate firm specializing in mixed-use sports and entertainment districts. The Associate, Asset Management & Investments supports underwriting, financial modeling, fund management and analytics, research, investment committee materials, and technology-enabled workflow development. Working closely with the Associate Director of Investments and the SVP of Asset Management and Investments, the associate evaluates development opportunities, maintains project and fund models, supports asset management, prepares investment and capital committee materials, supports RFPs, and analyzes portfolio and market information. The role combines real estate investment judgment with analytical, data, and technology capabilities, including identifying ways to automate and standardize work while maintaining accuracy, confidentiality, and professional judgment. The associate develops and maintains models for mixed-use developments, joint ventures, financings, recapitalizations, and dispositions; supports fund and portfolio analysis, forecasting, valuation, and investor reporting; and prepares financial analyses and decision materials for investment and capital committees. Asset management work includes budgeting, forecasting, performance and valuation analysis, debt and covenant tracking, leasing analysis, and support for refinancing, recapitalization, hold/sell, and disposition decisions. The role also helps implement AI-enabled workflows, maintain underwriting templates and a model library, and improve model governance and data reliability. Associates are expected to work primarily in the office. The role is based in Chicago, Illinois, and reports to the SVP of Asset Management and Investments.

Requirements

Bachelor’s degree in Finance, Real Estate, Accounting, Economics, Business, Data Analytics, or a related field.
Approximately 5+ years of experience in real estate private equity, acquisitions, development, investment banking, asset management, transaction advisory, or valuation.
Strong experience building and reviewing complex real estate financial models.
Understanding of development underwriting, acquisitions, joint ventures, debt financing, and fund-level economics.
Advanced proficiency in Excel and PowerPoint.
Experience preparing investment committee materials, RFP responses, underwriting memoranda, or transaction analyses.
Ability to review transaction documents from a financial and commercial perspective.
Strong research, analytical, communication, and problem-solving skills.
High attention to detail and commitment to model accuracy.
Strong judgment regarding confidentiality, data controls, and appropriate use of AI.
Ability to manage multiple transactions and deadlines in a fast-paced environment.
Collaborative working style and willingness to document and share analytical processes.
Demonstrated reputation for accuracy, intellectual curiosity, responsiveness, and execution.

Nice To Haves

MBA.
Experience with mixed-use, hospitality, retail, residential, office, entertainment, or sports-adjacent real estate.
Experience with business intelligence or AI-enabled investment tools.

Responsibilities

Develop and maintain financial models for mixed-use developments, joint ventures, financings, recapitalizations, and dispositions.
Analyze project- and fund-level returns, including IRR, equity multiple, cash-on-cash return, development yield, and return on cost.
Underwrite projects involving retail, hospitality, residential, office, entertainment, parking, infrastructure, and sports-adjacent uses.
Model lease-up, operating projections, capital structures, financing terms, and exit scenarios; perform sensitivity analyses, downside cases, and stress testing.
Review third-party models, appraisals, market studies, operating forecasts, and development budgets, identifying unsupported assumptions, inconsistencies, risks, and analytical gaps.
Maintain model accuracy, transparency, documentation, and auditability; develop waterfall analyses for promote structures, preferred returns, catch-up provisions, and sponsor and investor distributions.
Support development and maintenance of the fund model, including capital deployment, investment pacing, management fees, expenses, cash flows, distributions, financing activity, and investor returns.
Evaluate investment concentration, diversification, liquidity, risk, and contributions to fund returns; prepare portfolio analyses of deployment, performance, commitments, valuations, and projected exits.
Maintain consistency between project underwriting, asset management forecasts, and the consolidated fund model; develop dashboards and analytical tools for performance, risk, and capital requirements.
Support quarterly forecasting, valuation, and investor reporting processes.
Prepare financial analyses, return summaries, sensitivity tables, capital structures, risk assessments, and exhibits for investment and capital committees.
Coordinate with development and investment professionals to convert project information into decision materials, and maintain consistency among presentations, models, memoranda, and source materials.
Track committee questions, approvals, conditions, and follow-up requirements; update analyses as deal assumptions, terms, financing structures, or development plans change.
Compare actual and forecast performance against original underwriting and maintain an organized archive of committee materials, approvals, and supporting analyses.
Implement and monitor asset-level business plans with property managers, operating partners, leasing teams, lenders, and other stakeholders.
Lead annual asset budgeting and reforecasting, including operating assumptions, capital expenditures, leasing costs, and funding requirements.
Compare actual and forecast asset performance with approved budgets and original underwriting, identify material variances, and recommend corrective actions.
Prepare and maintain asset-level valuations using operating performance, leasing assumptions, capital plans, market data, capitalization and discount rates, and projected cash flows.
Maintain debt and covenant tracking schedules, including compliance tests, reporting obligations, reserve requirements, maturity dates, extension options, interest-rate exposure, and lender deliverables.
Evaluate leasing proposals, renewals, amendments, and terminations based on rent, concessions, tenant-improvement allowances, leasing commissions, credit considerations, and asset-level returns.
Monitor occupancy, lease-up, lease expirations, tenant rollover, and leasing pipeline activity, assessing their impact on cash flow and asset value.
Support refinancing, recapitalization, hold/sell, and disposition decisions based on asset performance, business-plan execution, capital needs, and market conditions.
Identify recurring investment activities that can be standardized, streamlined, or automated, and help implement AI-enabled workflows for research, document review, reporting, data extraction, variance analysis, and presentations.
Develop tools to reduce manual entry and improve the consistency and speed of investment analysis; establish controls for AI use in underwriting and investment decisions.
Support the firm’s AI task force and prioritize practical use cases with measurable business value.
Maintain approved underwriting templates and a centralized model library; implement quality-control checks and improve model usability, transparency, and backup coverage.
Support a reliable source of truth for investment, fund, and portfolio data.

Benefits

On-site parking
Transit benefits
Paid time off, including personal, sick, vacation time, office holidays, and winter break
Flexible work arrangement
Casual work attire environment
Complimentary meal and beverage plan
Access to campus-wide Wrigley Field events and pre-sales
401(k) plan with employee contribution and employer match
Medical, dental, vision, and life insurance benefit plans
Health and wellness engagement and programming
Associate special events, volunteer opportunities, and partnership discounts
Monthly allotment for internal rewards and recognition platform
Complimentary access to EV charging stations
Eligible for discretionary bonus plan