Real Estate Analyst - Ensemble

Another Source•Philadelphia, PA

17h•Hybrid

About The Position

Ensemble Investments is seeking a highly analytical and detail-oriented Real Estate Analyst to support its Philadelphia-based development and investment team, Ensemble East. The position offers hands-on experience across the real estate lifecycle, from evaluating opportunities through financing, construction, leasing, and stabilization, with meaningful responsibility and direct exposure to senior decision-makers. The analyst will evaluate development and acquisition opportunities; build and maintain financial models; analyze investment returns, risks, and financing options; monitor project performance; conduct market and comparable-property research; prepare investment and reporting materials; and collaborate with internal teams and external partners. The role also uses AI tools such as Claude and ChatGPT to support analytical workflows, with independent validation of outputs. The position is based in Ensemble’s Philadelphia Navy Yard office. The schedule is in-office Monday through Thursday, with work-from-home flexibility on Fridays.

Requirements

Bachelor’s degree in Real Estate, Finance, Accounting, Economics, Business, or a related discipline.
Advanced Microsoft Excel proficiency and demonstrated experience building sophisticated financial models.
Strong understanding of real estate finance, including development costs, operating cash flows, debt, equity, investment returns, cap rates, and valuation.
Proficiency with ChatGPT and/or Claude and an understanding of effective AI use in a professional analytical workflow.
Strong analytical and quantitative skills, sound judgment, and exceptional attention to detail.
Ability to organize complex information and communicate clear, concise findings.
Ability to manage multiple projects and competing priorities in a fast-paced environment.

Nice To Haves

Two to three years of experience in commercial real estate investments, development, investment banking, private equity, lending, real estate consulting, or a related field.
Experience underwriting commercial real estate acquisitions or development projects.
Familiarity with construction budgets, development schedules, and debt and equity underwriting.
Experience conducting commercial real estate market research and comparable-property analysis.
Experience preparing professional presentations and investment materials.
Familiarity with ARGUS Enterprise.

Responsibilities

Evaluate development and acquisition opportunities, supporting projects from initial concept through construction and stabilization.
Conduct underwriting, market research, and due diligence.
Build and maintain financial models and detailed pro formas covering sources and uses, construction budgets, development costs, operating projections, financing, cash flows, and investment returns.
Calculate IRR, equity multiples, cash-on-cash returns, NPV, and development yield; conduct sensitivity analyses on rents, costs, timing, absorption, financing terms, and exit values.
Analyze construction loans, permanent financing, refinancing, loan extensions, interest reserves, and debt sizing.
Track project performance against approved budgets and underwriting assumptions, identify material variances, and communicate their implications.
Review market studies, appraisals, construction budgets, broker opinions, comparable sales and rents, and competing development activity.
Prepare investment committee materials, lender presentations, investor reports, and concise analyses for senior management.
Use AI tools to support research, modeling, document review, and reporting while independently validating outputs.
Collaborate with accounting, construction, property management, leasing, legal, and external partners on portfolio analyses, strategic initiatives, and time-sensitive projects.