Associate - Portfolio Management, Real Estate Equity

About this role

Business Unit Overview:
Black Rock Real Estate currently manages nearly $20 billion invested in direct properties within the United States, Europe and APAC. The Real Estate Equity business invests across a broad array of investment strategies including core, value-add and opportunistic, through separate accounts and commingled funds. Our extensive experience encompasses all major property types including residential, industrial, retail, and office.

Black Rock Real Estate Investment Management is seeking an Associate based in Newport Beach to support portfolio management, client reporting, and investment analysis. This execution-oriented role will be responsible for conducting financial analysis, preparing client reporting materials, and supporting underwriting and asset-level decision-making across the portfolio.

• Client Reporting & Portfolio Analytics Support the preparation of monthly, quarterly, and ad hoc portfolio reports, including operational performance, returns, and attribution analysis
• Prepare quarterly property summaries covering leasing activity, operations, capital projects, and market conditions
• Maintain and enhance internal databases, reporting models, and portfolio tracking tools
• Respond to data and analysis requests from clients, portfolio managers, and senior leadership
• Financial Analysis & Asset-Level Support Build and maintain property-level cash flow and return models using Excel and ARGUS
• Assist in the review of operating budgets and the development of business plans
• Evaluate capital projects and renovation programs, including return on cost and ROI analysis
• Review financial statements, capital calls, and distribution requests in partnership with accounting teams
• Monitor market trends and key performance drivers affecting asset performance
• Leasing, Operations & Asset Management Support Review lease proposal analyses, including tenant credit and valuation implications
• Monitor property performance against underwriting assumptions and budget expectations
• Support the evaluation of operational initiatives and asset-level business strategies
• Investment & Transaction Support Support acquisition and disposition underwriting through financial modeling and analysis
• Prepare investment committee materials, memoranda, and supporting analyses
• Assist with due diligence and transaction execution, including data organization and analysis
• Team & Platform Support Contribute to process improvements across reporting, analytics, and portfolio management workflows
• Participate in special projects and ad hoc analyses as needed
• Partner closely with internal teams, including investments, accounting, and valuations, as well as external partners

• Bachelor’s degree in finance, Real Estate, or a related field
• 1–4 years of relevant experience; internships may be considered for Analyst-level candidates
• Strong financial modeling, analytical, and Excel skills
• Familiarity with ARGUS and PowerPoint preferred
• Foundational understanding of accounting, debt structures, and capital markets
• Highly organized, detail-oriented, and able to manage multiple priorities in a fast-paced environment
• Strong written and verbal communication skills
• Collaborative team player with the ability to work effectively across functions and stakeholders
• Demonstrated ownership, sound judgment, and a strong execution mindset

For Newport Beach, CA Only the salary range for this position is USD$ - USD$ . Additionally, employees are eligible for an annual discretionary bonus, and benefits including healthcare, leave benefits, and retirement benefits. Black Rock operates a pay-for-performance compensation philosophy and your total compensation may vary based on role, location, and firm, department and individual performance.

To help you stay energized, engaged and inspired, we offer a wide range of benefits including a strong retirement plan, tuition reimbursement, comprehensive healthcare, support for working parents and Flexible Time Off (FTO) so you can relax, recharge and be there for the people you care about.

Black Rock’s hybrid work model is designed to enable a culture of collaboration and apprenticeship that enriches the experience of our employees, while supporting flexibility for all. Employees are currently required to work at least 4 days in the office per week, with the flexibility to work from home 1 day a week. Some business groups may require more time in the office due to their roles and responsibilities.

We remain focused on increasing the impactful moments that arise when we work together in person – aligned with our commitment to performance and innovation. As a new joiner, you can count on this hybrid model to accelerate your learning and onboarding experience here at Black Rock.

At Black Rock, we are all connected by one mission: to help more and more people experience financial well-being. Our clients,