USAA Real Estate

Analyst, Office Asset Management (San Antonio, TX or Bethesda, MD)

Job Location US-TX-San Antonio | US-MD-Bethesda
# of Openings

Company Overview

With approximately $29 billion in assets under management and 11 global offices, USAA Real Estate is an industry leader in acquiring, developing, financing and managing the highest quality real estate assets in North America and Europe. The mission of USAA Real Estate is to serve the financial interests of its investor clients by strengthening the profitability and diversity of the USAA investment portfolio, which includes multifamily, industrial, office and hotel properties, as well as e-commerce logistics and distribution centers, media production facilities and data centers. Aligned with a series of strategic partnerships cultivated over decades of co-investment, USAA Real Estate engages with preeminent sector leaders demonstrating proven domain expertise in a shared drive to achieve superior, risk-adjusted returns. For more information, visit

Job Description

The Office Asset Management Analyst provides support to Asset Managers and assists with the financial and operational oversight of commercial real estate assets, including, but not limited to financial modeling & analysis, prospective leasing, capital projects, valuation, property-level & portfolio reporting, and supporting the implementation of comprehensive asset strategies. The Analyst will primarily support the Office product type but may support other product types such as Data Centers and Life Science. 

Essential Duties:

  • Assist with leasing activity for assigned properties including the financial analysis of prospective leases, routine communication with leasing teams, lease negotiations, credit underwriting, interaction with legal teams, and the submittal of required internal documentation.
  • Provide support to asset managers by maintaining a high level of knowledge on market fundamentals such as rental rates, occupancy, supply/demand, capital market trends, and transaction activity for assigned geographic areas.
  • Prepare detailed financial analyses of real estate assets including, but not limited to the following: discounted cash flow analysis, time-weighted returns, leveraged and unleveraged IRRs, equity multiples, promote calculations, and other various financial and performance measurement metrics.
  • Perform quarterly valuations for assigned real estate properties. Maintain ARGUS Enterprise models for internal valuations. Provide support and assist with coordination of external appraisals.
  • Prepare and coordinate the annual budgeting process for assigned properties. Assist with the review of annual CAM reconciliations. Create variance reports and cash reforecasts as required.
  • Prepare, coordinate and ensure timely completion of property-level and portfolio reporting such as annual business plans, quarterly fund reports, monthly status reports, investor specific reports, and other reports as required.
  • Demonstrate a high level of initiative and ownership by assisting with the timely resolution of various property-level issues. Resolve with minimal supervisory oversight.
  • Contribute to the improvement of existing processes and promote the adoption of best practices as related to the above duties and responsibilities.
  • Provide secondary support to the Portfolio Management and Dispositions departments as required. May also support other departments with various projects related to Acquisitions, Development, and Capital Markets.


At USAA Real Estate our employees enjoy generous benefits packages including comprehensive medical, dental and vision plans, 401k, 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 is an Equal Opportunity and Affirmative Action Employer of Females, Minorities, Veterans and Disabled.


Minimum Qualifications:

  • Bachelor’s Degree in Finance, Real Estate, Business, Accounting, Economics or relevant degree field. Relevant commercial real estate experience will be considered in lieu of specified majors.
  • Up to 3 years of commercial real estate industry work experience. Asset management and/or office asset experience strongly preferred.
  • Solid understanding of financial analysis concepts.
  • Ability to travel and to work extended hours when necessary.
  • Must be willing to work on-site and show proof of COVID-19 vaccination (or request and receive an authorized exemption)
  • Qualifications may warrant placement in different job title.

Key Competencies:

  • High level of proficiency in Excel and Argus Enterprise.
  • Accuracy and attention to detail.
  • Ability to prioritize assignments to meet numerous deadlines.
  • Excellent analytical, quantitative and problem-solving skills.
  • Exceptional written and verbal communication skills.  


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