Investment Associate

Keystone National Group is a private investment firm founded in 2006 to capitalize on private market inefficiencies. The Firm’s strategic focus on private credit and real estate debt/equity investments emphasizes consistent income from asset‑backed contractual cashflows. Keystone currently manages approximately ~$2.5B in assets (as of Q4 2025). To inquire, contact

Keystone is currently seeking candidates with excellent quantitative, qualitative, and interpersonal skills for an Associate position on its growing Real Estate Team. The candidate will support the firm’s growth across platforms including (1) Keystone Private Income Fund (“KPIF”), an open‑ended private credit vehicle, (2) Keystone Real Estate Investment Trust (KREIT), an open‑ended equity vehicle (private REIT), (3) Keystone Real Estate Lending Fund (KRELF), an open‑ended bridge lending platform.

The candidate will support the deal team in underwriting, financial analysis, documentation, and participate in weekly Investment Committee meetings. This individual will work in a team environment with opportunities to work on various U.S. geographies, real estate asset classes (Multifamily, BTR, Student Housing, Industrial, Self‑Storage, NNN Retail, Extended Stay Hotels), and structures (Construction, Participating Senior, and Bridge Loans, as well as Preferred Equity, and Common Equity).

This Associate will collaborate with other team members to source and underwrite new investment opportunities, negotiate terms, and manage existing investments, as well as present recommendations to the Real Estate Investment Committee weekly.

Keystone prides itself on the Firm’s collegial atmosphere, encouraging a collaborative approach to accomplishing projects. This role will provide weekly exposure to all levels of the Firm, from Partners to fellow Analysts / Associates.

The ideal candidate will possess a bachelor’s degree and a background in real estate private equity/credit or investment banking. The Associate will adhere to the highest ethical standards, as well as demonstrate maturity, reliability, and attention to detail.

The position will be based in Salt Lake City with the requirement of being in the office full‑time.

• Participate in the underwriting and due diligence processes for potential real estate private credit and equity investments.
• Perform financial modeling and sensitivity analysis related to investment opportunities.
• Present underwriting and analysis to team members in written and verbal formats.
• Work directly with investment sales brokers, joint venture / operating partners, and developers.
• Draft investment memorandums and presentations related to investment opportunities.
• Join and participate in discussions during Investment Committee while deals are presented and discussed.
• Assist with asset management duties, including financial analysis and investor reporting for existing investments.

• 1-4 years of experience in real estate private equity/credit, investment banking, or related real estate finance field (No candidates with less than 1 year of applicable full‑time experience will be considered).
• Pursuing a bachelor’s degree in finance, accounting, economics, or other finance‑related degree.
• High proficiency in Word, PowerPoint, and Excel.
• Demonstrable analytical capabilities, including strong quantitative/modeling skills.
• Developing investment judgment and general understanding of risk/reward trade‑offs.
• Ability to represent the Firm credibly in written and interpersonal communications.
• Takes pride of ownership in work, and work ethic.
• Financial modeling experience preferred.
• Outstanding communication skills, both written and verbal.