Applicants must be U.S. citizens or otherwise authorized to work in the U.S. without sponsorship. We are not able to provide visa sponsorship at this time.

Note: This application has an excel test requirement. Please make sure to complete and upload the results with your resume.

Overview

Avison Young is seeking a Real Estate Analyst to join our US Investment Sales Group (USIS). USIS is a national platform focused on Multifamily, Office, Retail, and Development assets in the urban cores of the Major US Markets. Launched in 2025, the USIS platform is building greater connectivity across markets, leading national brokerage efforts, and bringing best-in-class resources to assignment to deliver a superior service to our clients and customers. The analyst will work closely with and report to James Nelson, Principal and Head of US Investment Sales and Erik Edeen, Principal and Senior Director of US Investment Sales.

The Analyst opportunity will provide unparalleled exposure to top assignments and clients across the country with direct hands-on impact. Candidates should bring a strong understanding of commercial real estate finance, the ability to work independently to solve problems, and a desire to contribute in other ways that helps our team grow. The fast-paced environment will require resourcefulness and the ability to work on many projects with different personnel at once without losing attention to detail.

The Analyst will be an immediate key contributor to the team who can operate in a dynamic, multi-tasking environment with tight deadlines. Initiative to take on projects and while applying techniques from one project to the next is key. Work ethic and ability to learn on the job are essential.

Start Date: ASAP

Status: Full Time employee

Compensation: $80,000 base. Bonus based on individual and team performance

Office Location: 530 Fifth Avenue, in-person

Responsibilities

•    Analyze all asset classes for Broker Opinion of Value and Exclusive Listing materials

•    Prepare, organize and present due diligence required for the reports (review and abstracting of leases, appraisals, income and expense statements, rent rolls, etc.)

•    Clearly write to explain the project, analysis and conclusion

•    Operating statement analysis, prepare pro forma projections and, discounted cash flow analyses

•    Developing offering and presentation packages

•    Analyze comparable sold and for sale listings, submarket statistics such as competitive inventory, availability, lease rates, etc.

•    Ad hoc analysis and projects as needed

Capabilities

•    Experience at a National Brokerage or Appraisal firm preferred

•    Bachelor’s Degree required

•    Prior commercial real estate experience and/or Master’s in Real Estate preferred

•    Deep understanding of return metrics including cap rates, IRR, equity multiple, ROC, CoC

•    Experience modeling development and debt structures a plus

•    Strong Microsoft Excel and ARGUS underwriting ability

•    Ability to write clear and concise on complex topics

•    Strong organizational skills with the ability to prioritize and manage multiple projects in a timely and thorough manner

•    Team player on a nimble team with connectivity to 300 professionals nationally

Excel Prompt:

Build a five year hold dynamic yearly cashflow model, based on the assumptions below:

Assumptions:

Property Size:

• Rentable Square Footage (RSF): 10,000
• Gross Square Footage (GSF): 8,000

Revenue:

• A tenant signs a 10-year lease at $100/RSF, with rent growing at 3% per year
• Six months of free rent at lease commencement (Year 1)

Leasing Costs (Year 1):

• Tenant Improvements (TI): $75/RSF, paid upfront in Year 1
• Leasing Commissions: 3% of the gross rent on year 1 to 5 and 2% on years 6 to 10, paid upfront in Year 1

Expenses:

• Base Operating Expenses: $35/GSF, growing at 1.5% per year

Disposition:

• Cap rate at sale: 5.25%

Financing:

• Loan-to-Value (LTV): 60%
• Interest rate: 4.0%
• Amortization period: 30 years

Questions:

1. Using Goal Seek, determine the maximum acquisition price required to achieve an 20% levered IRR.
2. What is the unlevered IRR?
3. What is the Year 3 Return on Cost?
4. What is the Year 3 Cash-on-Cash Return after debt service
5. Construct a sensitivity table for the levered IRR, varying:

• Reversion cap rate (ranging from 5.00% to 5.75%)
•  Hold period (ranging from 3 to 7 years)