Analyst/Associate – Real Estate Private Equity Investments

NYC Based

About our client

Alpaca Real Estate is a Real Estate Private Equity firm founded in 2023 and backed by the U.S.’s largest institutional investors. Alpaca is purpose-built to capitalize on today’s volatility with a clean slate and a differentiated approach. The firm combines proven investment acumen with modern technology and AI to gain an edge in sourcing, underwriting, and execution. The founding partners have led 100 transactions and deployed $3B of equity.

About the role

Alpaca Real Estate is looking for a sharp, driven Analyst or Associate (depending on prior experience) to join its New York-based investment team. This is a rare opportunity to gain full-cycle exposure across the real estate private equity stack—from sourcing and underwriting to deal execution and asset management—inside a lean, entrepreneurial environment.

As an Analyst/Associate, you will work directly with the Partners and broader team to evaluate investments, support due diligence, and help manage active deals. They will also play a key role in scaling internal systems, data infrastructure, and decision-making processes as the platform grows.

Responsibilities

• Serve as a key part of the tight-knit investment team—directly supporting acquisitions, preferred equity, and recapitalization transactions
• Conduct market research and thematic deep dives across logistics, multifamily, and BTR residential sectors
• Build, analyze, and stress-test financial models—including returns analysis, waterfall structures, and capital stack optimization
• Prepare investment committee materials and memos for internal review
• Assist in asset management activities, including monitoring asset performance, tracking KPIs, and supporting value creation initiatives
• Work directly with brokers, operating partners, and external stakeholders to diligence deals and manage execution
• Help shape and evolve internal systems and processes—including underwriting templates, CRM tooling (DealCloud), and tech integrations
• Attend industry events and support relationship-building efforts across the institutional investor and operator ecosystems

Qualifications

• 1–3 years of experience in real estate private equity, investment banking (ideally real estate coverage), or a similar analytical role
• Deep familiarity with financial modeling, real estate valuation, and transaction structuring
• Proficient in Excel, PowerPoint, and financial modeling (Argus experience is a plus)
• Strong communication skills—able to articulate ideas clearly both in writing and in meetings with partners, LPs, and operators
• Comfortable juggling multiple live workstreams and delivering high-quality work on tight timelines
• Entrepreneurial mindset—resourceful, self-directed, and solutions-oriented
• Bachelor’s degree from a top academic institution, preferably with a focus in finance, economics, real estate, or a related field
• Bonus: Experience with Salesforce, DealCloud, or other platforms used for CRM and internal ops
• Bonus: Interest in AI, data-driven underwriting, or proptech innovation

Culture Fit & Impact

• New York-based
• A resourceful, self-starting, and entrepreneurial personality with a strong business sense and work ethic, who can work both independently and in a collaborative culture
• Transparent, open communicator with well-rounded interpersonal capabilities to build rapport and work effectively
• Excellent communication skills, instilling confidence and capable of explaining complex issues with clarity and sophistication
• Possesses a strong set of personal business values that coincide with that of the firm
• Ability to balance a high level of personal motivation and a hands-on approach with a focus on the shared success of the firm and its investors
• High degree of intellectual curiosity; constantly seeking the creation of business value
• Unquestioned integrity, moral character, and solid business judgment
• Prioritizes getting along with others, completing work with a positive, energetic attitude, and having fun while working with a small, tight-knit group who really enjoy what they are doing day-to-day

Benefits

• Competitive salary and performance-based bonus
• Comprehensive health insurance for employees and their families
• PTO and paid holidays
• Access to mentorship, industry events, and professional development opportunities
• High-exposure role with direct access to Partners, LPs, and operating partners
• In-person team collaboration in the NYC office—plus periodic offsites and site visits
• A tight-knit, ambitious culture with a focus on impact, velocity, and ownership
• $100-150K base with discretionary bonus

Join the team and contribute to the future of real estate private equity—combining institutional depth, modern tech, and a relentless drive to capture opportunities in a changing market.