Investment Analyst - Real Estate

Location: Boston, MA (In-Office)

Reports to: Managing Partner

About Epogee

Epogee is a Boston-based alternative asset management firm focused on delivering differentiated investment opportunities to ultra-high-net-worth individuals and family office clients. In addition to our Alternatives Advisory services, Epogee’s platform spans both direct real estate and private equity verticals, requiring seamless coordination and strategic execution across operational and investment personnel. Our team combines institutional investment experience with an entrepreneurial approach to sourcing, evaluating, and managing alternative investments. We emphasize rigorous analysis, operational excellence, and long-term partnerships built on trust and transparency.

Position Overview

The Investment Analyst – Real Estate will play a critical role in evaluating, analyzing, and monitoring real estate investment opportunities across Epogee's direct real estate and real estate private equity fund investments. This role requires a broad understanding of real estate fundamentals spanning multiple asset types, geographies, and investment strategies – from ground-up development and entitlement-stage opportunities to stabilized, income-producing assets and value-add repositioning. The ideal candidate will demonstrate strong analytical capabilities, attention to detail, and the ability to communicate investment insights effectively to senior leadership and clients.

Key Responsibilities

Investment Analysis & Underwriting

Conduct comprehensive financial analysis and underwriting of direct real estate investments across multiple asset classes including multifamily, office, industrial, retail, hospitality, and mixed-use properties
Build and maintain detailed financial models incorporating acquisition assumptions, operating projections, capital expenditure planning, financing structures, and exit scenarios
Evaluate development opportunities including entitlement risk assessment, construction budgeting, timeline analysis, and feasibility studies
Analyze value-add and opportunistic strategies including repositioning plans, lease-up projections, renovation scope and budgets, and market repositioning approaches
Assess core and core-plus stabilized assets with emphasis on cash flow analysis, lease rollover risk, tenant credit quality, and market fundamentals
Prepare investment memos, executive summaries, and presentation materials summarizing key investment merits, risks, and recommendations

Real Estate Private Equity Fund Evaluation

Conduct investment due diligence on real estate private equity funds and co-investment opportunities, including manager track record analysis, strategy assessment, and portfolio construction review
Perform operational due diligence evaluating fund manager organizational structure, investment processes, risk management frameworks, and operational infrastructure
Analyze fund terms including fee structures, carried interest arrangements, GP commitments, investment periods, and liquidity provisions
Review historical fund performance across vintage years, assess portfolio company performance, and evaluate realized versus unrealized investment outcomes
Coordinate information requests, organize data room materials, and synthesize findings into actionable investment recommendations

Market Research & Portfolio Monitoring

Conduct market research and competitive analysis across target geographies and property types, tracking supply and demand fundamentals, rental rate trends, cap rate movements, and economic indicators
Monitor portfolio investments on an ongoing basis, tracking asset performance against underwriting assumptions and identifying early warning signals or value creation opportunities
Prepare quarterly portfolio performance reports, investment updates, and variance analyses for internal review and client communications
Maintain investment tracking systems, deal pipeline databases, and market intelligence repositories
Develop relationships with brokers, lenders, consultants, and other market participants to source off-market opportunities and gather market intelligence

Client Support & Communication

Assist in preparing client-facing investment presentations, quarterly reports, and performance updates
Support investor due diligence requests and coordinate responses to client inquiries regarding real estate investments
Participate in client meetings and investment committee presentations as appropriate
Contribute to marketing materials and thought leadership content related to real estate investment themes

Qualifications

Required

Bachelor's degree required; concentration in finance, real estate, economics, business, or related field preferred
1–2 years of professional experience in real estate investment analysis, acquisitions, development, asset management, real estate private equity, or related field
Broad understanding of real estate asset types (multifamily, office, industrial, retail, hospitality, mixed-use) and investment strategies across the risk spectrum
Working knowledge of real estate terminology and concepts including entitlement processes, zoning and land use, development economics, construction methodologies, value-add repositioning strategies, lease structures, and property operations
Strong financial modeling skills with advanced proficiency in Microsoft Excel, including cash flow modeling, sensitivity analysis, and scenario planning
Excellent written and verbal communication skills with the ability to synthesize complex analyses into clear, concise investment recommendations
Exceptional attention to detail and accuracy in analytical work
Proficiency with Microsoft Office Suite (Excel, Word, PowerPoint); experience with Argus or other real estate modeling software a plus
Self-motivated and proactive approach with ability to work both independently and collaboratively in a team environment
Strong work ethic and willingness to take on challenging assignments

Preferred

Experience analyzing real estate private equity funds or fund-of-funds investments
Familiarity with multiple U.S. geographic markets and regional real estate dynamics
Understanding of debt financing structures including construction loans, bridge financing, permanent financing, and joint venture equity arrangements
Exposure to both investment and operational due diligence processes
Knowledge of ARGUS Enterprise, CoStar, Real Capital Analytics, or similar industry platforms
Previous internship or work experience with institutional investors, family offices, real estate developers, or investment banks covering real estate

Compensation & Benefits

Base Salary: $65,000–$75,000, commensurate with experience
Bonus Structure: Discretionary annual bonus and profit-sharing participation based on individual and firm performance
Benefits Package: Comprehensive benefits including health insurance, dental, vision, 401(k) retirement plan, and other standard benefits

Growth Trajectory

This role offers significant professional development opportunities for an analytically driven individual seeking to build a career in real estate investing. As Epogee continues to grow its real estate platform, the Investment Analyst will have opportunities to:

Develop deep expertise across multiple real estate asset classes, investment strategies, and geographic markets
Gain hands-on experience evaluating both direct real estate investments and fund manager selection
Build relationships with industry participants including operators, developers, lenders, and service providers
Progress into senior analytical roles with increased transaction responsibility and client interaction
Potentially transition into investment leadership positions such as Senior Analyst, Vice President, or Portfolio Manager as the firm scales
Participate in firm-wide strategic initiatives and contribute to platform growth across both real estate and private equity verticals

Epogee Capital Management

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