Associate, Private Debt

This Opportunity

Our Chicago office is seeking an Associate to join the Private Real Estate Debt Investment team. We are looking for a self‑starter, highly collaborative, analytical, with a strong interest in Real Estate. The Private Real Estate Debt team invests via senior debt, mezzanine and preferred equity structures across all asset classes. The focus is on value‑add business plans which include physical and/or operational improvements, re‑development, or ground‑up development.

• Assisting the Chicago based investment professionals in analyzing and underwriting real estate debt opportunities across the western region of the US.
• Supporting the firm’s asset management team in monitoring and managing existing real estate debt opportunities across the western region of the US.
• Preparing and confirming pro forma cash flow projections for potential investment opportunities across all property types, structures, and risk profiles for multiple real estate funds and separate accounts.
• Analyzing property data and reports, including operating statements, rent rolls, leasing reports, and appraisals to assist in concluding feasibility of investment opportunities.
• Utilizing third party data providers and conducting own research to analyze markets, trends, and competitive sets to assist in preparation of underwriting assumptions.
• Preparing models and summaries of investment opportunities for internal or client presentation through thorough understanding of investment factors, market research, and credit risk analysis.
• Coordinating and participating in due diligence and closing processes relating to investment opportunities.
• Working collaboratively with other groups such as research and portfolio management.

• 0-3 years of professional commercial real estate experience.
• Bachelor’s degree in finance or real estate.
• General understanding of real estate finance, property valuation, and investment analysis.
• Excellent communicator with strong writing skills.
• Well‑organized, detail‑oriented, and deadline driven.
• Enjoys working in a dynamic team environment.
• Ability to prioritize tasks, work on multiple assignments, and handle ambiguity.
• Enjoys working both independently and as part of a team with professionals at all levels.
• Proficiency in Microsoft Excel and Word.
• Proficiency in Argus.

• This position is based in our Chicago office.
• Our teams work in a hybrid environment and in‑office days vary by team.
• Some travel may be required.

We are looking for great candidates who have a unique combination of experiences, traits, and talents. We couldn’t describe you in a list of bullet points, so consider this posting a conversation starter. If you check some, but not all, of our boxes, we still want to talk! Please apply for this role if much of this job description describes you.

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Founded in 1966, Heitman is a global real estate investment management firm. Our mission is to lead the evolution of real estate through investments that fulfill the needs of people and communities in a world of constant change. To learn more about our organization and culture, .

At Heitman, we believe that our success is driven by the success of our team members. That's why we use market data to ensure competitive compensation for every role, reflecting our commitment to investing in our team. When we grow, you grow!

The expected annual base salary range for this role is $75,000-$90,000 and will be further discussed during the interview process. This range represents what Heitman reasonably and in good faith believe we would pay a qualified candidate for this role at the time of posting (based on a full‑time equivalent schedule). Your actual base salary placement will depend on factors such as (but not limited to): your relevant experience, time in role, base salary of internal peers, prior performance, business sector, and geographic location.

In addition, all of our team members are bonus eligible and participate in a generous annual bonus plan, with the percentage varying based on…