USAA Real Estate

Infrastructure Analyst

Job Location US-TX-San Antonio
# 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


Attexo Capital is USAA Real Estate’s infrastructure investment and investment management subsidiary.  As a new venture, Attexo Capital presents elements of a small startup within a much larger institutional parent; accordingly, a demonstrated entrepreneurial energy and drive is important. 

Job Description

The Analyst provides advanced level financial analysis and technical support in valuing assets and evaluating investment and portfolio returns, financing alternatives, and partnership return analysis for infrastructure investments.  This role will also include deep infrastructure and economic market research, legal documentation review, and internal portfolio reporting and stakeholder coordination.

Essential Duties:

  • Prepare detailed infrastructure financial analyses, assist with financial modeling and develop models to compare alternative investments or scenario comparisons. 
  • Research market information to incorporate prudent modeling assumptions.  Assist in market underwriting.  Research includes fundamental market economic analysis to forecast business trends, sales and income for applicable investment opportunities.
  • Coordinate, compile, review and summarize investment-related due diligence materials. Work with other team members on issues related to investment due diligence. Coordinate with consultants and other due diligence vendors as required.
  • Assist in supplying information for co-investment partners to include the preparation of pro-forma financials.  Assist in the underwriting, formation and structuring of co-investment relationships and investment structures with third parties.
  • Assist, as requested, with debt financing packages, investment pro-formas, lender due diligence, investments in public or private stocks or mergers, and assist with preparation for Investment Committee and Board of Directors’ meetings.  This will include taking the lead on drafting Investment Committee transaction authorization briefs.
  • Assist, as needed, with transition of investments upon closing. This will include onboarding investments to the team’s cloud-based investment asset management platform.
  • Maintain and input infrastructure submissions information and provide regular reporting.
  • Maintain team transaction and portfolio management records in coordination with the team, for future review and audit purposes.  Learn and use internal and external software platform systems related to all workflows referred to above.
  • Provide assistance as needed with preparation of cash flows, analysis and budgets.  This will include understanding the industry level economic overlay that investment opportunities are affected by, and the macroeconomic forces which may impact investment performance and competitive market positioning.
  • Contribute to the improvement of existing processes and promote the adoption of best practices as related to the above duties and responsibilities.
  • Perform other essential duties as assigned, particularly in regard to flexibility of workflow management and ad hoc projects.  This position will require the ability to manage multiple deadlines in a fast-paced environment.  The ability to work independently, seek guidance when appropriate, and communicate clearly across various levels of the organization is essential.


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 Business, Finance, Accounting, Economics or related technical field such as Engineering.
  • 1-2 years of investment analysis experience in the real estate, infrastructure, private equity or a closely related industry.  Real estate valuation and appraisal work experience will also be considered relevant.
  • Solid understanding of financial and economic concepts such as the time value of money and net present value calculations.
  • Ability to regularly work extended hours.
  • 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 a different job title.

Key Competencies:

  • High level of proficiency in Excel and PowerPoint.
  • Accuracy and attention to detail.
  • Ability to prioritize assignments to meet numerous deadlines.
  • Excellent analytical, quantitative and problem-solving skills.
  • Ability to perform market and economic analyses to support due diligence and investment underwriting.
  • Exceptional written and verbal communication skills.  


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