Associate​/Senior Associate - Real Estate Investments

Real Estate Private Equity Associate / Sr. Associate Role Overview

Step Stone is currently seeking candidates with excellent quantitative, qualitative, and interpersonal skills for an Associate / Senior Associate position on Step Stone’s Real Estate Investment Team. The primary role is to assist in the identification, evaluation, due diligence, and execution of real estate investments across geographies and asset classes. The Associate/Sr. Associate will work in a team environment with other team members to source, underwrite, and diligence new investment opportunities, negotiate acquisition terms, manage existing assets, and conduct asset dispositions.

The Associate/Sr. Associate will have the opportunity to present recommendations, with the investment team, to the Real Estate Investment Committee.

Step Stone prides itself on the Firm’s collegial atmosphere, encouraging team-building initiatives and a collaborative approach to accomplishing projects. The Associate/Sr. Associate will have exposure to all levels of the Firm, from Partners to fellow Associates/Sr. Associates, on a daily basis.

The ideal candidate will possess a bachelor’s degree and a background in real estate private equity/credit, investment banking, or other real estate- or finance-related industries. The Associate/Sr. Associate will adhere to the highest ethical standards, as well as demonstrate maturity, reliability, and attention to detail.

• Identify, source, and evaluate high-potential acquisition opportunities across various real estate asset classes (residential, commercial, industrial, mixed‑use, etc.), geographies, and risk spectrums
• Participate and lead in the underwriting and due diligence process for potential acquisitions, including financial analysis, structuring, market research, site visits, and document review
• Perform financial modeling and sensitivity analysis related to investment opportunities
• Prepare for and participate in meetings with managers and investors and conduct on‑going due diligence
• Form an independent opinion about the attractiveness of a sector or investment opportunity
• Construct an argument around an opinion and efficiently communicate that argument both verbally and in written materials, and defend the position in a team environment, including Investment Committee meetings
• Draft investment memorandums and presentations related to acquisition opportunities
• Assist with asset management duties, including financial analysis and investor reporting for existing investments
• Support the fundraising process, including creating fundraising presentation materials and coordinating historical fund and asset‑level performance analysis
• Develop and maintain a network of key relationships, including brokers, developers, institutional investors, and financial partners
• Bring investments through the investment committee process, presenting acquisition opportunities and providing insights and recommendations

• 4+ years of experience in real estate private equity/credit, investment banking, or related real estate finance field
• BA/BS in Business, Finance, Economics, Accounting, Real Estate, or related field
• Extensive experience in real estate acquisitions, including a proven track record of successfully identifying and closing investment opportunities
• Takes pride of ownership in work, and work ethic
• Ability to represent the Firm credibly in written and interpersonal communications
• Demonstrable analytical capabilities, including strong quantitative and modeling skills
• High proficiency in Word, PowerPoint, and Excel
• Developing investment judgment and general understanding of risk/reward trade‑offs
• Flexibility to work within Step Stone’s dynamic and entrepreneurial organization
• Based in Chicago, with availability to travel, primarily domestically

• Highly analytical with exceptional problem‑solving skills
• ARGUS experience optional but preferred
• Promote and demonstrate a positive, team‑oriented attitude

At Step Stone, we believe that our people are our most important asset and crucial to our success. We are an Equal Opportunity Employer that strives to create an environment that empowers our employees and allows them to be heard, regardless of title or tenure. Our organizational community features multiple Employment Resource Groups as well as mentorship programs to enhance the employee experience for all.

As an Equal Opportunity Employer, Step Stone does not discriminate on the basis of race, creed, color, religion, sex, national origin, citizenship status, age, disability, marital status, sexual orientation, gender identity, gender expression, genetic information or any other characteristic protected by law.

Candidates must be at least 18 years old to apply.