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.