Due Diligence Associate, Private Placements

Realized Holdings•Austin, TX

About The Position

Realized Holdings, Inc. is an Austin-based investment platform focused on tax-advantaged private placement real estate, including Delaware Statutory Trusts (DSTs), UPREITs, Qualified Opportunity Zone investments, and various fund structures. The Due Diligence Associate will lead a substantial portion of the review of new offerings and sponsors and help improve the systems and processes used to make diligence faster, more consistent, and easier to defend. The role works with the Research, Product, and Technology teams and reports into senior leadership. The position is based in Austin, Texas, or may be remote. The associate will evaluate sponsors and assets across property types, strategies, and markets, lead complex transactions and projects from initial review through recommendations to management, and serve as a diligence subject matter expert for Product and Development. The role also supervises an offshore data-entry team and serves as a resource to junior analysts.

Requirements

Bachelor’s degree in Real Estate, Finance, Accounting, Economics, or a related field, or equivalent experience.
3 to 5+ years of experience in commercial real estate lending or credit, multi-property-type real estate investment management, or securities due diligence on alternative investments.
Exposure to multiple property types, investment strategies, and geographies, with the judgment to compare them rather than specialize in one market.
Strong financial modeling skills, including cash flow analysis, valuation, and complex debt and equity partnership structures.
Ability to critically read real estate and offering documents and identify issues others miss.
Advanced Excel skills.
Clear writing and speaking skills, including the ability to explain complex investments to audiences ranging from a CEO to an individual investor.
Curiosity, integrity, and self-direction to manage several projects at once and solve problems independently.

Nice To Haves

SQL.
Prior experience in a formal due diligence role on the lending, investment management, or securities side.
ARGUS experience.
Working knowledge of real estate taxation, including 1031 exchange mechanics.
Knowledge of REITs and other commercial real estate investment vehicles.
Experience in structured finance, securitization, or tax credits.
Experience working with software or data teams on workflow or tool development.

Responsibilities

Lead due diligence on new offerings and sponsors, reviewing Private Placement Memorandums, leases, operating statements, development budgets, equity and debt term sheets, and third-party reports.
Write executive summaries that identify issues and support clear recommendations.
Evaluate sponsors’ track records, strategy consistency, fee and alignment structures, financial condition, and operational capability.
Underwrite and model structured commercial real estate investments across property types and strategies, including cash flow, valuation, and complex debt and equity partnership structures.
Build new models when existing models are insufficient.
Identify diligence-process inefficiencies and work with the Technology team to move Excel-based models and manual workflows to software-based solutions.
Serve as the diligence subject matter expert for Product and Development on new products and features, including requirements, review, and testing.
Represent Research on valuation and reporting projects.
Use AI-assisted tools to accelerate document review and data extraction, and verify outputs against source documents.
Monitor the competitive landscape across real estate, alternatives, and capital markets.
Lead complex transactions and projects from initial review through a recommendation to management.
Supervise an offshore data-entry team and serve as a resource to junior analysts.