Acquisitions Associate, Asset Management Services

JLL empowers you to shape a brighter way.  

Our people at JLL are shaping the future of real estate for a better world by combining world class services, advisory and technology for our clients. We are committed to hiring the best, most talented people and empowering them to thrive, grow meaningful careers and to find a place where they belong.  Whether you’ve got deep experience in commercial real estate, skilled trades or technology, or you’re looking to apply your relevant experience to a new industry, join our team as we help shape a brighter way forward.   

The Commercial Real Estate industry (CRE) is at an inflection point driven by several macroeconomic factors including on-going market volatility, changing demographics, rapid evolution in technology and data analytics, and the implications of ESG regulations. These factors are contributing to increased complexity and cost in owning, managing, and occupying real estate assets. Investors are requiring faster, data-driven insight, consistent reporting and an integrated view of risk, return and operational performance.

JLL is evolving its advisory approach to key clients by drawing together current complementary skill sets into a newly formed team focused on Strategic Value Advisory within the Value & Risk Advisory group. The team will deliver advice to clients alongside the Valuations business through three Advisory service pillars – Investor, Credit and Asset (including Asset Management Services).

The Strategic Value Advisory offer is powered by JLL's market-leading "quants-driven" approach, combining proprietary analytics, predictive modelling, and execution capability to deliver measurable asset and portfolio performance for clients and compelling commercial outcomes for JLL.

Within JLL Asset Management Services, we are reimagining how Asset Management solutions are conceived and executed: building a data-enabled, capital-aware and globally consistent platform that connects real estate operations directly to investment strategy in a streamlined and scalable way. The Asset Management Services offer combines established strategic Asset Management expertise, optimized analytical processes, and JLL's "quants-driven" approach to enhance asset-level performance and equip clients to make confident, well-informed investment decisions.

The Role

The Acquisitions Associate, Asset Management Services will support the delivery of a client mandate across a generalist, regional investment team evaluating opportunities across property types, markets, and investment strategies. This role will focus on underwriting, market analysis, client investment committee materials, due diligence, closing execution, and transaction data governance in service of the client mandate. The Analyst will work closely with client acquisition officers, client cross-functional teams, and Asset Management Services team, while developing increasing independence on defined workstreams.

JLL Key Responsibilities

Financial Analysis and Modelling

• Construct, maintain, and audit cash flow models at the property level in Argus and Excel

• Apply discounted cash flow and deal-specific valuation approaches to underwrite acquisition opportunities

• Model a range of scenarios, from base case through alternative, downside, and upside outcomes, stress-testing assumptions such as rent growth, tenant rollover, leasing costs, capital expenditures, financing terms, hold period, and exit pricing

• Lead independent reviews of models, working through discrepancies to keep underwriting accurate

• Revisit and adjust underwriting as due diligence surfaces new operating, leasing, market, capital, financing, tax, insurance, or transaction-cost information

• Ensure underwriting at closing aligns with approved deal structure, final capital stack, closing statement, lender budget, and related investment records

Market and Investment Research

• Evaluate market, submarket, and capital-market dynamics affecting each investment • Analyze comparable sales and leases, competing properties, replacement cost, and how in-place economics compare to market, to inform property positioning

• Gauge tenant or resident demand, functionality of the asset, leasing assumptions, competitive positioning, market liquidity, and risk at exit

Transaction Diligence and Execution

• Lead assigned diligence workstreams from award through closing, spanning kickoff, gathering documents, coordinating third-party reviews, tracking issues, securing internal sign-off, and completing checklists

• Keep the transaction timeline current, covering site access, contract execution, deposits, expiration of diligence periods, approvals, financing, and closing milestones • Examine financial and operating diligence items, such as leases, lease abstracts, estoppels, historical operating statements, expense recoveries, other income, receivables, payables, deposits, prepaid rent, service contracts, warranties, tenant credit, and reports from third parties

• Coordinate with client engineering team to assess physical, environmental, development, capital, zoning, and permitting-related findings, folding their financial implications into underwriting

• Assist with reviewing closing statements, prorations, invoices, estoppels, sign-offs, completed checklists, and closing paperwork

• Stay ahead of open items, spot execution risks early, and raise them promptly

Approval and Closing Documentation

• Build out investment committee memoranda and presentation materials from established templates

• Write clear, focused analysis that lays out key assumptions, flags priority risks, and backs the investment recommendation

• Put together closing memoranda that tie closing underwriting back to investment committee underwriting and call out material changes

• Log outstanding action items and transition matters for handoff to the asset management team

Deal Data Management and Coordination

• Take ownership of data accuracy, completeness, consistency, and timeliness across the deal pipeline tool and asset information system

• Cross-check data across models, investment committee materials, closing memoranda, source documents, pipeline entries, and the asset information system

• Input closing underwriting figures, capitalization, projected returns, and final costs into the asset information system

• Keep acquisition records organized and current in designated document-management and workflow platforms

• Coordinate handoff of finalized models, diligence findings, action items, transition matters, and supporting files to the asset management team and other relevant groups

• Look for ways to strengthen data quality, controls, process consistency, and reporting on transactions

Collaboration and Compliance

• Partner effectively with client senior investment professionals, functional teams, operating partners, brokers, lenders, consultants, service providers, and outside counsel

• Manage multiple assignments at once, respond quickly to requests, and deliver models, memos, reports, and updates on schedule

• Spot and raise potential issues tied to investment, execution, guidelines, compliance, data, or controls

• Adhere to client risk controls, policies, procedures, and documentation requirements

• Act as a final check on the analytical accuracy and data quality of assigned deliverables

• Manage relationships across multiple client and JLL stakeholders, and share insight into client processes gained through this work to help inform how JLL's service model evolves over time

• Ensure all activities comply with JLL's ethical, legal, and operational standards

Candidate Requirements

• Bachelor's degree required

• 3-5 years in a relevant transaction-focused role, whether in acquisitions, asset management, investment banking, real estate private equity, or a similar analytical capacity

• Track record underwriting commercial real estate deals and constructing property-level cash flow models

• Comfortable working in Argus alongside Excel, PowerPoint, and Word

• Grounded in real estate financing structures and standard modelling conventions

• Familiar with leasing fundamentals, spanning contractual versus market rent, escalations, renewal assumptions, tenant improvements, leasing commissions, free rent, expense recoveries, and tenant options

• Able to weigh market evidence, pinpoint the underwriting variables that matter most, and form an independent view on the investment

• Solid quantitative and analytical capability paired with strong writing, presenting, and verbal communication

• Careful and disciplined about keeping data accurate across models, memos, pipeline systems, and asset information platforms

• Capable of juggling several assignments and transaction deadlines with minimal oversight

• Works well both internally and with external transaction counterparties

Preferred Qualifications

• Has run acquisitions end to end, from underwriting through investment committee approval, diligence, closing, and handoff to asset management

• Background spanning different property types, markets, or investment strategies

• Familiarity with underwriting development or redevelopment deals

• Some exposure to joint ventures, incentive-management structures, promote waterfalls, and how transaction documents translate into modeled economics

• Working knowledge of physical, environmental, lease, title, survey, zoning, tax, insurance, regulatory, financing, and closing considerations

• Curious, resourceful, and willing to challenge unsupported assumptions

Performance Metrics

• Delivers underwriting models and return analyses that are accurate, internally consistent, and free of errors, on schedule

• Communicates the assumptions, sensitivities, risks, and critical variables behind each investment recommendation clearly

• Produces investment committee memoranda, closing memoranda, and transaction updates that are high-quality, consistent, and genuinely useful for decision-making

• Reconciles closing underwriting against approved underwriting accurately, with variances, action items, and transition matters documented ahead of closing

• Keeps acquisition data complete, current, and consistent across the pipeline tool, asset information system, underwriting models, approval materials, and closing records

• Coordinates assigned diligence workstreams, contributors, open items, and deadlines effectively through to closing

• Identifies material investment, execution, data, and control risks early, communicates them directly, and escalates appropriately

• Shows growing independence in underwriting, transaction coordination, data governance, and preparing decision materials

• Earns positive feedback from senior team members and cross-functional partners for accurate, responsive, collaborative, risk-aware work

• Consistently adheres to internal controls, procedures, and transaction-documentation requirements

What you can expect from us

We succeed together across the desk and around the globe, and believe the best inspire the best, so we invest in supporting each other, learning together, and celebrating our success. Our Total Rewards program reflects our commitment to helping you achieve your career ambitions, recognizing your contributions, investing in your well-being, and providing competitive benefits and pay.

JLL is an Equal Opportunity Employer Applicants are considered regardless of race, color, religion, creed, age, sex, pregnancy, family responsibility, national origin or ancestry, citizenship, marital status, sexual orientation, transgender status, veteran's status, genetic information, or status as a qualified individual with a disability or any other protected characteristic in accordance with applicable law.

This position does not provide visa sponsorship. Candidates must be authorized to work in the United States without sponsorship.

Estimated compensation for this position:

This range is an estimate and actual compensation may differ. Final compensation packages are determined by various considerations including but not limited to candidate qualifications, location, market conditions, and internal considerations.

Location:

If this job description resonates with you, we encourage you to apply, even if you don’t meet all the requirements.  We’re interested in getting to know you and what you bring to the table!

Personalized benefits that support personal well-being and growth:

JLL recognizes the impact that the workplace can have on your wellness, so we offer a supportive culture and comprehensive benefits package that prioritizes mental, physical and emotional health. Some of these benefits may include:

• 401(k) plan with matching company contributions

• Comprehensive Medical, Dental & Vision Care

• Paid parental leave at 100% of salary 

• Paid Time Off and Company Holidays

• Early access to earned wages through Daily Pay

At JLL, we harness the power of artificial intelligence (AI) to efficiently accelerate meaningful connections between candidates and opportunities. Using AI capabilities, we analyze your application for relevant skills, experiences, and qualifications to generate valuable insights about how your unique profile aligns with the specific requirements of the role you're pursuing.

JLL Privacy Notice

Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously. Generally the personal information we collect from you are for the purposes of processing in connection with JLL’s recruitment process. We endeavour to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely.

For more information about how JLL processes your personal data, please view our Candidate Privacy Statement.

For additional details please see our career site pages for each country.

For candidates in the United States, please see a full copy of our Equal Employment Opportunity policy here.

Jones Lang LaSalle (“JLL”) is an Equal Opportunity Employer and is committed to working with and providing reasonable accommodations to individuals with disabilities.  If you need a reasonable accommodation because of a disability for any part of the employment process – including the online application and/or overall selection process – you may email us at HRSCLeaves@jll.com. This email is only to request an accommodation. Please direct any other general recruiting inquiries to our Contact Us page > I want to work for JLL.

Pursuant to the Arizona Civil Rights Act, criminal convictions are not an absolute bar to employment.

Pursuant to Illinois Law, applicants are not obligated to disclose sealed or expunged records of conviction or arrest.

Pursuant to Columbia, SC ordinance, this position is subject to a background check for any convictions directly related to its duties and responsibilities. Only job-related convictions will be considered and will not automatically disqualify the candidate.

California Residents only

If you are a California resident as defined in the California Consumer Privacy Act (CCPA) please view our Supplemental Privacy Statement which describes your rights and disclosures about your personal information. If you are viewing this on a mobile device you may want to view the CCPA version on a larger device.

Pursuant to the Los Angeles Fair Chance Initiative for Hiring Ordinance, JLL will consider for employment all qualified Applicants, including those with Criminal Histories, in a manner consistent with the requirements of applicable state and local laws, including the City of Los Angeles’ Fair Chance Initiative for Hiring Ordinance.

Pursuant to the San Francisco Fair Chance Ordinance, we will consider for employment qualified applicants with arrest and conviction records.

Accepting applications on an ongoing basis until candidate identified.