Company Description
Ultimate Realty is a family-owned real estate investment platform specializing in acquiring, repositioning, and operating infill commercial real estate along the U.S. East Coast, with a focus on industrial properties. The firm targets middle-market opportunities that offer potential for significant risk-adjusted returns through strategic acquisition and active asset management. Known for its off-market deal sourcing and principal-to-principal relationships, Ultimate Realty leverages industry credibility to deliver certainty of execution. With a vertically integrated model, the team employs a disciplined, hands-on approach from underwriting to business plan realization. Guided by a philosophy of disciplined buying and thoughtful execution, the firm emphasizes long-term value creation in infill markets with strong demand drivers.
Position OverviewUltimate Realty is seeking a detail-oriented and analytically rigorous Real Estate Analyst to support our acquisitions, and financing activities. The Analyst will play a central role in evaluating new industrial investment opportunities, building underwriting and development models, producing institutional-quality offering memorandums and investment committee materials, and conducting market research to inform deal strategy.
This is a high-visibility seat with direct exposure to senior leadership and meaningful involvement in the full transaction lifecycle from initial sourcing through entitlement, construction, lease up, and refinancing or sale. The ideal candidate combines strong financial modeling skills with sharp commercial instincts, intellectual curiosity, and the ability to manage multiple deals in a fast-paced environment.
Key ResponsibilitiesUnderwriting & Financial Analysis
- Build and maintain detailed underwriting models in Excel for prospective industrial acquisitions and ground-up developments, including warehouse, distribution, last mile, IOS (industrial outdoor storage), and flex/light-industrial product.
- Model development budgets including land basis, hard costs, soft costs, contingency, financing carry, and lease-up reserves; analyze yield-on-cost, untrended/trended returns, and development spreads to market cap rates.
- Build operating cash flows and returns analyses (IRR, equity multiple, cash-on-cash), JV waterfall structures, and sensitivity/scenario tables.
- Stress-test assumptions around market rents, TI/LC, downtime, exit cap rates, construction costs, and financing terms.
- Review historical operating statements, rent rolls, T-12s, leases, and tenant financials to validate seller- or broker-provided data.
Offering Memorandums & Investment Materials
- Prepare offering memorandums (OMs), investment committee memos, and investor/LP presentations that clearly articulate deal thesis, financial returns, market positioning, and risk factors.
- Produce supporting exhibits including site plans, building specs (clear height, dock doors, trailer parking, power), aerial maps, lease and sale comp sets, and financial summary tables.
- Coordinate with internal team members, brokers, and external designers to deliver polished, institutional-grade marketing and capital-raising materials.
Market Research & Data Gathering
- Conduct in depth market and submarket research across the New York metro industrial landscape including markets in Florida, Georgia, Texas as well as other target industrial corridors.
- Track supply pipeline, rent and sale comparables, absorption, vacancy, and demographic/logistics drivers (port volumes, population density, last-mile demand, infrastructure projects).
- Maintain databases of comparable transactions, land sales, lease comps, and broker relationships.
- Leverage data sources such as CoStar, CompStak, RCA/MSCI, ESRI, and local broker reports to build a fact-based view of each market.
Acquisitions & Development Support
- Screen inbound deal flow and broker offerings; prepare quick-turn deal summaries and "first-cut" underwriting for senior leadership.
- Support letter-of-intent (LOI) and purchase-and-sale agreement (PSA) negotiations with data-driven analysis.
- Coordinate due diligence on acquisitions and land deals, including third-party reports (appraisal, PCA, ESA Phase I/II, zoning, ALTA survey, geotech), title review, entitlement risk, and lender deliverables.
- Support development execution by tracking project budgets, draw schedules, leasing progress, and key milestones in coordination with the development and construction teams.
- Maintain deal pipeline, CRM, and acquisition tracking systems.
Refinancing & Capital Markets
- Support refinancing efforts across the existing portfolio, including preparation of loan request packages, lender outreach materials, and sources-and-uses analyses.
- Compare construction, bridge, and permanent debt quotes from banks, life companies, debt funds, and CMBS lenders; model the impact of various financing structures on returns.
- Coordinate with lenders, brokers, and legal counsel through closing.
QualificationsRequired
- Bachelor's degree in Finance, Real Estate, Economics, Accounting, or a related field.
- 1–3 years of experience in commercial real estate, investment banking, private equity, brokerage (investment sales or debt/equity placement), or a related analytical role. Industrial sector exposure is a plus.
- Advanced proficiency in Microsoft Excel, including building models from scratch and working with complex formulas, JV waterfalls, and development cash flows.
- Strong proficiency in PowerPoint and Word; comfort producing client-ready and IC-ready materials.
- Excellent written and verbal communication skills, with the ability to translate complex financial concepts into clear narratives.
- Strong attention to detail, organizational skills, and ability to manage multiple deals concurrently under tight deadlines.
- Eligible to work in the United States; able to work on-site at our New York office on the company's hybrid schedule.
Preferred
- Direct experience underwriting industrial product (warehouse, distribution, last-mile, IOS, or flex).
- Familiarity with the New York metro / Tri-State industrial market.
- Experience with development underwriting, including cost budgeting and forecasting.
- Working knowledge of construction loans, life company debt, and CMBS execution.
- Experience with Excel, CoStar, CompStak, RCA, or similar industry platforms as well as AI. .
- Familiarity with joint venture structures and promote/waterfall mechanics.
- Prior experience producing offering memorandums or investment committee materials.
