2027 Real Estate Investment & Advisory Summer Analyst

Final date to receive applications:
August 21, 2026

We are global private markets specialists delivering tailored investment solutions, advisory services, and impactful, data driven insights to the world’s investors. Leveraging the power of our platform and our peerless intelligence across sectors, strategies, and geographies, we help identify the advantages and the answers our clients need to succeed.

Step Stone Real Estate (SRE) boasts extensive knowledge and experience with $190B in AUA and $20B in AUM as of December 2025. SRE leverages the strengths of our investment and advisory teams, drawing on our deep market research and investment analysis to create compelling opportunities and tailored portfolios of fund investments, secondaries, and co-investments for institutional investors worldwide. The Investment Team invests discretionary capital through co-mingled funds and a number of separately managed accounts (SMAs).

The advisory team offers a full suite of capabilities to serve institutional investors seeking access to the private real estate markets at scale through committing to funds.

Step Stone is currently seeking undergraduate students graduating between December 2027 through June 2028 to join our Real Estate team as Summer Analysts. This internship offers an exciting opportunity to achieve valuable learning experience working across the Real Estate industry. Through analysis of opportunistic, value-add, core and credit funds, Summer Analysts gain exposure to a wide array of property types, markets and capital structures and become accustomed to a variety of real estate private equity funds and investment strategies.

As a Summer Analyst, you’ll collaborate with the investment team to prepare and present recommendations to the Real Estate Investment Committee and our institutional investor clients.

• Underwrite and assess prospective fund manager materials to identify key value drivers and areas for deeper analysis
• Participate in the underwriting and due diligence process for potential GP-led secondary and co-investment transactions, including financial modeling/analysis, market research, site visits, and document review
• Conduct market research using public sources and proprietary databases to analyze macroeconomic trends across property types
• Participate in meetings with potential partners and fund managers, supporting all aspects of active investment and advisory due diligence
• Support full-time staff on coverage responsibilities including asset and portfolio management of existing real estate portfolio and sourcing, and managing the inflow of investment opportunities

• Must be able to work legally in the U.S. without requiring visa sponsorship now or in the future
• Undergraduate student graduating anywhere from December 2027 through June 2028
• GPA of 3.2 or higher
• Strong proficiency in Microsoft Word, PowerPoint and Excel
• Excellent written and verbal communication skills
• Demonstrable analytical capabilities, including strong quantitative/modeling skills
• Collaborative mindset with a proactive and team-oriented approach
• Enthusiastic interest in Real Estate

At Step Stone, we foster a supportive and inclusive team culture where collaboration and learning are the core of what we do. Our collegial atmosphere encourages teamwork, mentorship, and professional development. This summer internship is a great opportunity to gain practical experience and develop critical skills that will help you launch a successful career in Real Estate.

Salary: $95,000 annually

The salary is an estimate of pay for this position. Actual pay may vary depending on job-related factors that can include location, education, skill, and experience. The salary does not include any benefits or other forms of possible compensation that may be available to employees.

#LI-Hybrid

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.