Associate – Real Estate Private Equity

Location: Houston or Austin, TX (On-Site)

About Marble Capital

Marble Capital is a real estate fund manager with $3.3 billion in AUM across a series of closed-ended and open-ended vehicles. The firm invests on behalf of the nation’s largest endowments and RIAs, as well as family offices and private capital sources.

Position Overview

We are seeking a highly motivated Senior Associate to join our investment team. This individual will play a critical role in underwriting, structuring, due diligence, and executing commercial real estate transactions across our diversified platform, with a core focus on industrial, retail, and select other asset types.

The ideal candidate possesses a strong institutional background and is looking to transition into a highly entrepreneurial environment. We are looking for an inquisitive, driven professional who is eager to work on creative deal structures and complex transactions.

Key Responsibilities

Underwriting & Financial Modeling

Construct dynamic, institutional-grade operating and joint-venture financial models, inclusive of waterfalls and promotes, from scratch in Excel.
Model and analyze debt investments, with a specific emphasis on structuring preferred equity positions and loan originations.

Transaction Structuring & Due Diligence

Lead a comprehensive underwriting process, including comparables, demographic, and supply/demand analysis.
Manage deal pipelines and direct due diligence workstreams, thoroughly reviewing leases, tenant credit, and third party reports.

Investment Committee Capital Materials

Synthesize complex market data, localized demand drivers, absorption trends, and new supply pipelines into clear, actionable investment narratives.
Draft and present comprehensive Investment Committee (IC) memoranda and supporting collateral to defend underwriting assumptions, deal structures, and risk-mitigation strategies.

Portfolio Support & Asset Management

Interface effectively with internal asset management teams to monitor ongoing portfolio performance against established business plans and underwriting metrics.
Provide analytical support for ad-hoc hold/sell scenarios, lease negotiations, and quarterly fair market valuations as required by the asset management division.

Qualifications & Requirements

Experience: 2–4 years of total professional experience. The preferred background includes 2 years in real estate investment banking.
Technical Proficiency: Extensive experience with ARGUS Enterprise, financial modeling capabilities in Excel, and utilizing AI.
Asset Class Expertise: Experience executing transactions within the industrial and retail sectors.
Academic Credentials: Bachelor’s degree from a leading university with a strong academic record.

Core Cultural Traits

Inquisitive & Curious: Demonstrates a fundamental desire to thoroughly analyze data and understand the underlying structural reality of an asset or market.
Driven & Goal-Oriented: Hungry for professional growth and increased responsibility.
Entrepreneurial Mindset: Highly adaptable and eager to contribute to a growing, entrepreneurial environment.
Creative Problem Solver: Enjoys navigating non-traditional deal structures and developing creative capital solutions.

Marble Capital

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Associate - Real Estate Private Equity