Analyst, Institutional Real Estate (Summer 2026 Start)

RCLCO is a leading real estate investment consulting firm that advises large institutional investors. They are seeking qualified Analysts for their Investments & Portfolio Management team to underwrite new investments, analyze opportunities, and prepare reports for clients. Responsibilities Underwriting new investments on behalf of institutional investors (comprising over $50 billion in invested real estate equity) across multiple property types and locations, including the review of cash flow assumptions, pricing, fees, and preparation of discounted cash flow models including complex waterfall fee structures Analyzing investment opportunities in operating companies, separate accounts, programmatic joint venture, and funds Evaluating potential investment partners based on track records, strategies, pipelines, financial and operating structures, and management interviews Research and develop knowledge of industry trends and participants Reviewing existing assets, including investment performance reporting, hold/sell analyses, budget reviews, capital plans, restructuring analyses, and appraisal reviews; and Preparing reports and presentations to communicate key findings and recommendations Skills Bachelor's degree in real estate, finance, economics, or with a demonstrated interest in quantitative analysis in the real estate industry Work experience requiring quantitative analysis, either through internships or working in the private/public sector Proficiency in Microsoft Office applications including Word and PowerPoint, and particularly in the use of Excel for financial modeling and analysis Excellent written and verbal communication skills Demonstrated knowledge of commercial real estate underwriting and valuation Ability to structure quantitative and qualitative problem-solving approaches, and attention to detail and accuracy Benefits Hybrid schedule flexibility, with team members in the office 3 days per week and the option to work fully remote 4 weeks each year 100% employee-paid healthcare, dental, and vision insurance (with the option to upgrade plans and add dependents at team member's expense) Employee stipend for continuing education and professional development 100% employer-paid family leave after one year of employment, family planning and fertility benefits, and access to services for back-up childcare, long-term childcare, pet care, and senior care Commuting stipend for team members not driving to work Cell phone stipend Wellness benefits such as an Employee Assistance Program, standing desks available to all team members, and healthy snacks supplied in each office location Option to participate in FSA or HSA Employer contribution annually to 401(k) Enjoyment of hosted in-office lunches and social events on a regular basis Paid time off to volunteer Company Overview Since 1967, RCLCO (formerly Robert Charles Lesser & Co.) has been the “first call” for real estate developers, investors, the public sector, and non-real estate companies and organizations seeking strategic and tactical advice regarding property investment, planning, and development. It was founded in 1967, and is headquartered in Bethesda, Maryland, USA, with a workforce of 51-200 employees. Its website is