Real Estate Analyst in San Antonio, Texas at Escalera Capital

About Escalera Capital

Escalera Capital is a commercial real estate private equity firm investing across the San Antonio to Austin corridor. We acquire, operate, and develop commercial real estate, combining institutional discipline with the speed and hands-on ownership mentality of an entrepreneurial operator. As we expand our platform across asset types and into ground-up development, we are looking for a sharp, motivated Analyst to grow with us.

Real Estate Analyst

We are seeking a detail-oriented and analytical Real Estate Analyst to join our dynamic team. This role offers an exciting opportunity to contribute to our real estate investment and development projects by providing valuable insights and data-driven recommendations. This role will sit at the center of our investment activity, supporting acquisitions, asset management, and ground-up development across all commercial real estate asset types. This is a high-visibility seat with direct exposure to firm leadership and the full deal lifecycle, from sourcing and underwriting through closing, operations, and disposition. You will build and own financial models, conduct market research, manage diligence, and help drive value across the portfolio. If you have a passion for real estate markets and a strong analytical mindset, we encourage you to apply.

Why Join Escalera Capital

You will work directly with firm leadership across every part of the business, gaining exposure that is hard to find at a larger, more siloed firm. You will see deals from sourcing to disposition, touch every asset type, and have a real hand in how we grow. For an analyst who wants to develop into a well-rounded investment professional, this is a rare seat.

Key Responsibilities:

Acquisitions

• Build and maintain detailed underwriting models for prospective acquisitions across all CRE asset types, including industrial, retail, office, multifamily, and land.

• Conduct market and submarket research covering rent comparables, sales comparables, supply pipeline, and demand drivers.

• Support due diligence, including lease abstraction, financial statement review, and coordination with third-party reports.

• Prepare investment memoranda and presentation materials for internal review and investor communications.

Asset Management

• Track property-level performance against pro forma, including rent rolls, occupancy, NOI, and cash flow.

• Support lease analysis, renewals, and commission calculations, and assist with NNN reconciliations and operating expense reviews.

• Maintain ongoing portfolio reporting and contribute to quarterly investor letters and performance exhibits.

• Monitor debt covenants, loan maturities, and refinancing opportunities.

Ground-Up Development

• Build development pro formas covering hard costs, soft costs, financing, and lease-up assumptions.

• Track project budgets, draw schedules, and timelines in coordination with project teams and consultants.

• Support feasibility analysis, entitlement tracking, and site-level due diligence.

Skills and Qualifications:

• 2 to 4 years of experience in commercial real estate, in roles such as acquisitions, asset management, development, brokerage, lending, or valuation.

• Bachelor's degree in finance, real estate, accounting, economics, or a related field.

Advanced Excel skills, including the ability to build dynamic models from scratch and work fluently with functions such as INDEX/MATCH, SUMPRODUCT, and lookups. Argus experience is a plus.

• Strong command of core real estate finance concepts, including NOI, cap rates, IRR, equity multiples, waterfalls, and discounted cash flow analysis.

• Sharp attention to detail and the ability to manage multiple workstreams across an active deal pipeline and portfolio.

• Strong written and verbal communication skills, with the ability to translate analysis into clear, decision-ready materials.

• A self-starter mindset and genuine interest in building alongside a growing firm.

Escalera Capital offers a comprehensive benefits package designed to support the health, financial well-being, and long-term success of our employees and their families. Eligible employees have access to medical, dental, and vision insurance, company-paid life insurance, short-term and long-term disability coverage, an Employee Assistance Program (EAP), and a 401(k)-retirement savings plan with company matching contributions.

Please submit your cover letter and resume with a brief note on why this role interests you to careers@escaleracapital.com