Investment Associate

Macdonald & Company is proud to partner with a growing, principal side real estate investment and development platform is seeking an Investment Associate to support the analysis and execution of new development and redevelopment opportunities in the Cincinnati market and surrounding region.

This position offers hands on exposure to the full investment and development process, from early stage opportunity screening through construction, stabilization, and transition to long term ownership. The Investment Associate will work directly with senior investment and development professionals and will play an active role in evaluating opportunities, structuring capital, and supporting project execution.

This role is well suited for someone looking to deepen their development oriented investment skill set within a collaborative, entrepreneurial environment.

• Evaluate prospective development and redevelopment opportunities through financial modeling, return analysis, and early stage viability assessments
• Work alongside senior investment and development leadership to assess project risks, return profiles, capital structures, and execution strategies
• Incorporate inputs from design, construction, entitlements, market research, and negotiated deal terms into clear investment recommendations
• Support transaction related activities including site acquisitions, partnership structures, and debt and equity financing processes
• Analyze project level capital inflows and outflows across various financing and incentive scenarios
• Assist in coordinating diligence efforts and collaborating with consultants, municipalities, and internal stakeholders as projects advance toward approval
• Track development progress against approved budgets, schedules, and key milestones to ensure alignment with underwriting assumptions
• Prepare internal investment materials and analytical support for leadership review and approval processes
• Contribute to ongoing reporting and analysis as projects move through development and stabilization
• Monitor local and regional market conditions, construction pricing, capital markets activity, and regulatory changes to inform underwriting
• Review analytical work prepared by junior team members and help maintain consistency and quality across deliverables

• 2 or more years of experience in real estate development, investments, or a closely related field
• Prior exposure to development focused underwriting and deal execution
• Strong Excel based modeling capabilities, including scenario and sensitivity analysis
• Familiarity with the entitlement and development process from site control through construction
• Experience assisting with financing or transaction execution, including exposure to partnership structures
• Knowledge of public incentives or municipal financing programs is a plus
• Bachelor’s degree in Real Estate, Finance, Economics, Engineering, or a related discipline
• Ability to communicate assumptions, risks, and conclusions clearly in both written and verbal formats