Asset Management Associate

Pearlmark is a Chicago-based investment firm that targets domestic core-plus to value-add real estate opportunities via commingled funds, separate accounts, and joint venture structures. Since 1996, the Pearlmark team has sponsored more than 15 real estate equity and debt investment programs and completed over 600 real estate equity and debt transactions on behalf of investors, representing $6.3 billion in equity capital commitments and $14.7 billion in gross investment value.

The company currently employs 30+ professionals and is based in Chicago.

Pearlmark is seeking a motivated Asset Management Associate to join a lean, high-ownership team with direct exposure to senior leadership from day one. This role offers responsibility over industrial assets. This individual will be responsible for leasing, capital projects, valuations, strategy and dispositions on an institutional portfolio of industrial assets. The individual will work closely with senior leadership across the firm and report to the Managing Director of Asset Management.

• Build, maintain, and enhance asset-level financial models (ARGUS and Excel)
• Support quarterly valuations, business plan updates, and performance tracking against underwriting
• Analyze operating results, variances to budget, and key value drivers across the portfolio
• Assist in preparation of internal and investor reporting materials

• Underwrite new leases, renewals, and amendments, including cash flow and return impact
• Track leasing pipelines and support deal approval processes
• Analyze market comps, tenant demand trends, and competitive positioning
• Draft lease approval investment committee memos

• Assist in underwriting and tracking capital expenditures (TI/LC, redevelopment, repositioning)
• Monitor project budgets, timelines, and ROI relative to business plans
• Coordinate with property management and third-party consultants
• Support asset-level and portfolio-wide strategic initiatives
• Conduct hold/sell analyses, refinance scenarios, and sensitivity testing
• Assist in evaluating asset-level risks and opportunities
• Hold/Sell analysis along with working through disposition process

• Partner with Acquisitions on transition of new investments and underwriting alignment
• Support new acquisition through due diligence support and identifying investments risks through the lens of Asset Management
• Coordinate with Accounting on reporting needs, capital calls, and distributions
• Partner with Investor Relationship to fulfill investor reporting requirements
• Interface with third-party property managers, leasing brokers, and lenders

• Bachelor’s degree in Finance, Real Estate, Economics, or related field
• 3-5 years of experience in real estate asset management or consulting
• Familiarity with commercial, lease structures, and valuation methodologies
• High attention to detail with strong analytical and problem-solving abilities
• Excellent written and verbal communication skills

• Demonstrated interest in real estate private equity and value-add strategies
• Ability to manage multiple priorities in a fast-paced, team-oriented environment
• Proactive mindset with a desire to take ownership of work streams
• Strong interpersonal skills and ability to work with cross-functional teams

Compensation: $100,000 – $125,000 annually with placement within the range based on relevant experience, skills, and qualifications. In addition to the base salary, there is a discretionary bonus based on company and personal performance.

Pearlmark offers a competitive benefits package to full-time employees including medical, dental, vision, life insurance/ADD, 401(k) retirement plan, long-term disability insurance, and FSA.

Pearlmark is backed by Generali, one of the world’s largest insurance asset managers. This backing offers the financial strength and global reach of an established institution while preserving the agility and conviction-driven culture of an entrepreneurial firm. For professionals early in their careers, the environment at Pearlmark is designed to accelerate growth. This individual will work closely with senior leadership, benefit from structured mentorship within the firm, and develop relationships across the broader real estate industry.

Pearlmark encourages and supports its employees in participating in real estate boards, networks, and events across the industry.