Rotational Analyst

US-TX-San Antonio
3 weeks ago
# of Openings

Company Overview

USAA Real Estate Company was founded in 1982 as the real estate investment arm of USAA. With over $17 billion in assets under management, the company provides co-investment asset management services to U.S. pension funds, as well as to foreign and domestic institutional investors. USAA Real Estate Company also provides capital to partners for development. The portfolio consists of office, medical office, industrial, multi-family, retail and hotel properties as well as investments in real estate operating companies. Our commitment to service and integrity reflects the core values put in place by our parent company, a trusted worldwide insurance and financial services organization.  USAA Real Estate Company is headquartered in San Antonio, Texas.

Job Description

The Rotational Analyst Program is designed to offer analysts a hands-on learning experience, the ability to gain exposure to multiple disciplines within the firm and the opportunity to make a meaningful impact. Throughout the program, Analysts will have the opportunity to interface with senior leaders, be mentored by industry experts, and work closely with seasoned professionals. The Rotational Analyst Program is an intensive two year program which will rotate through four departments, spending approximately six months in each area. Departments participating in the rotational program include Acquisitions, Capital Markets, Development, Asset Management, Portfolio Management, and Global Investors Group. Department rotation assignments will be determined based on business and project needs. Analysts will gain an in-depth understanding of financial concepts, financial analysis, underwriting, valuations, property and portfolio reporting, due diligence, and much more. Analysts can expect to work in an inclusive and dynamic culture, one that instills in its employees their core values: Honesty, Integrity, Service and Loyalty.  Upon completion of the two year program, analysts who have demonstrated exceptional performance and are aligned with the company culture and core values, may have the opportunity for longer term employment.


Department Overviews:

  1. The Acquisitions department is responsible for sourcing new real estate investment opportunities. This includes evaluating potential investments, conducting financial analysis and underwriting, submitting offers, negotiating the purchase terms, performing due diligence, and closing on the transaction.
  2. The Development department oversees the design, development, and construction of real estate properties. Key responsibilities include preliminary transaction underwriting, preparation of investment brief(s), market feasibility analysis, coordination and execution of the due diligence process, tenant/client interaction, site acquisition, permitting, financing, and oversight of development partners, contractors and other third party vendors until construction completion.
  3. The Asset Management department ensures superior operational performance of the real estate assets in the portfolio. Asset Management strives to generate strong net operating income and maintain high occupancy levels to maximize value creation at the asset level.
  4. The Capital Markets department is responsible for all aspects of debt financing for assets within the portfolio. This includes sourcing, underwriting, approving, and closing on both permanent financing and construction loans. Capital Markets also oversees the lending platform which originates first mortgages to third party borrowers and hedging activities with interest rate swaps.
  5. The Portfolio Management department manages the various funds and separate accounts that hold the individual real estate investments.  Portfolio Management includes a wide range of functions such as: managing the overall strategy of the fund, determining optimal asset allocation, cash management and distribution activities, fund modeling, hold/sell analysis, compliance, and interaction with current and prospective investors.
  6. The Global Investors Group is responsible for the capital raising activities for all of the funds and separate accounts in the portfolio. GIG also oversees all investor relations communication and reporting functions to both new and current investors.


At USAA Real Estate Company our employees enjoy generous benefits packages including comprehensive medical, dental and vision plans, 401k, USAA Membership eligibility, educational and professional designation assistance, business casual dress attire and much more!  Qualified applicants must successfully complete a pre-employment background and drug screen.  The above description reflects the details considered necessary to describe the principal functions of the job and should not be construed as a detailed description of all the work requirements that may be performed in the job.



            USAA Real Estate Company is an Equal Opportunity and Affirmative Action Employer of Females, Minorities, Veterans and Disabled.



Minimum Qualifications

  • Pursuing a Bachelor’s degree, ideally in Real Estate, Finance or Economics, or a relevant field
  • Graduation Date: December 2017 - May 2018
  • Demonstrable interest in the commercial real estate industry and in USAA Real Estate Company
  • Understanding of basic finance concepts and how to calculate metrics such as internal rate of return, and net present value / discounted cash flow
  • Computer proficiency and demonstrated experience with financial modeling in Excel
  • Familiarity with Argus Enterprise is a plus
  • Candidates must be eligible to work in the U.S. without USAA Real Estate Company sponsorship

Physical Requirements

  • Regularly required to sit for extended periods of time; frequently required to stand, walk, and use business equipment daily such as computer, copier, fax, telephone, etc.; frequently required to reach overhead, bend, and lift objects of up to 25 lbs.
  • Ability to handle stress caused by multiple priorities, and other unforeseen situations associated with the organization.
  • Eyesight and hearing must be correctable to standard level.


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