Senior Real Estate Development Analyst

Ketone Partners is seeking a Senior Real Estate Development Analyst to play a key role in supporting and expanding our real estate advisory and development platforms. This position offers meaningful exposure to the full life cycle of commercial real estate projects and the opportunity to take on increasing responsibility within a small, entrepreneurial firm.

The Senior Analyst will work closely with senior leadership and project teams and will be involved in nearly every phase of the real estate process
, including site selection, underwriting, entitlements, development, financing, construction, leasing, and ongoing asset management. The role has a primary focus on industrial and office properties
, including both new construction and existing assets.

• Analyze and evaluate development pro formas, operating statements, and investment assumptions to assess feasibility, valuation, and risk.
• Participate in site selection and early-stage deal evaluation
  , including market research, zoning review, and feasibility analysis.
• Prepare detailed financial models and projections reflecting development costs, operating revenues and expenses, historical performance, and current and projected market conditions.
• Underwrite acquisitions and development opportunities, including cash flow modeling and preparation of internal investment approval materials.
• Perform sensitivity analyses related to rental growth, exit cap rates, development costs, and projected investment returns.
• Research and analyze market conditions, including competitive landscape, pricing, demand fundamentals, and site-specific considerations.
• Prepare investment memoranda and support financing requests for lenders and equity partners.
• Assist with due diligence efforts and provide transaction support throughout the acquisition and development process.
• Support development projects from planning and design through construction, occupancy, and closeout
  , including budgeting, scheduling, procurement, and coordination with consultants and contractors.
• Assist with entitlement and permitting activities, including coordination with municipalities, engineers, architects, and land‑use professionals.
• Review and interpret real estate‑related documents, including purchase agreements, leases, contracts, work letters, surveys, and drawings.
• Assist with processing loan draws, payment applications, and lender reporting requirements.
• Support property and asset management activities
  , including operating budget preparation, variance analysis, capital planning, and performance reporting.
• Assist in the ongoing analysis of existing assets, including leasing activity, tenant performance, operating expenses, and long‑term value optimization.
• Develop and maintain strong working relationships with brokers, lenders, consultants, attorneys, property managers, and other industry professionals.

This role is well‑suited for someone who thrives in a small‑company environment and is eager to gain exposure across all aspects of real estate development and ownership. The ideal candidate has an entrepreneurial mindset
, strong work ethic, and intellectual curiosity, and is comfortable operating without rigid silos or narrowly defined responsibilities.

The successful candidate will be given significant responsibility early
, with the expectation that they will grow into a highly self‑sufficient professional capable of managing projects and assets independently. A high degree of initiative, accountability, and self‑motivation is essential.

• Bachelor’s degree in real estate, finance, economics, business, engineering, or a related field.
• 2‑4 years of experience in commercial real estate analysis, development, investment, or related roles.
• Experience supporting underwriting of development and/or acquisition opportunities, including market research, cash‑flow modeling, and return analysis.
• Strong financial modeling skills, including development and operating pro formas, sensitivity analyses, and scenario modeling.
• Familiarity with zoning, entitlements, and development processes sufficient to evaluate feasibility, risks, and timelines (direct management experience not required).
• Ability to interpret construction budgets, schedules, and basic contract structures for analytical and reporting purposes.
• Experience working with or coordinating information from brokers, architects, engineers, contractors, and municipal agencies to support deal evaluation.
• High proficiency in Excel and comfort working with large data sets; experience with ARGUS is a plus if applicable to the role.
• Strong written and verbal communication skills, with the ability to present clear, concise analysis to ownership and senior leadership.
• Ability to manage multiple projects, work independently, and thrive in a lean, fast‑moving, entrepreneurial environment.

Mid‑Senior level

Full‑time

Sales and Management