Senior Associate, Mission-Critical Net Lease

Reports to: Managing Director, Mission-Critical Investments About PRP PRP Real Assets ("PRP") is a real estate investment management firm focused on high-quality multifamily, special situations, and mission‑critical net lease assets across the United States. Founded in 2005 and headquartered in Washington, D.C., PRP has acquired or developed more than 60 assets exceeding $5 billion in value across all major property sectors on behalf of its institutional investors, family offices, and financial institutions. Location: Washington, D.C. (in‑office) PRP’s mission‑critical net lease strategy targets build‑to‑suit and long‑term net‑leased facilities occupied by investment‑grade and credit‑anchored corporate tenants with a focus on large‑scale manufacturing, infrastructure, and logistics industrial. In the net lease space, PRP has acquired or developed 30 properties representing $3.6 billion of invested capital and 12.8 million square feet nationally. PRP is actively growing this platform and is looking for high‑potential professionals who want to grow with us. Opportunity PRP is hiring a Senior Associate to join our Mission‑Critical team. This role is focused on the underwriting and execution of new investments and is responsible for driving the analytical work that carries build‑to‑suit and net lease transactions from initial evaluation through Investment Committee approval, closing, and construction. The ideal candidate is analytically rigorous, detail‑oriented, and able to synthesize large amounts of disparate information into clear, decision‑ready investment recommendations. Working closely with senior members of the Mission‑Critical team and partnering across the firm, this individual will evaluate tenant credit, build and refine financial models, structure transactions, and manage diligence to a successful close. Responsibilities Build, maintain, and enhance underwriting models, development pro formas, and return analyses (IRR, cash‑on‑cash, equity multiples, and residual value) in Excel for build‑to‑suit and net lease investments. Perform comprehensive credit analysis of prospective tenants, including evaluation of the business, its industry, financial statements, and overall credit quality. Conduct in‑depth real estate and market research to support or challenge the investment thesis under consideration. Prepare Investment Committee memorandum for review and approval by PRP’s Investment Committee. Coordinate and perform due diligence, including review of leases, operating agreements, loan documents, budgets, and third‑party reports and site visits, in collaboration with consultants and counsel. Support deal structuring and negotiation by preparing the analysis underpinning Letters of Intent, Purchase & Sale Agreements, and Joint Venture agreements, working alongside senior leadership and legal counsel. Develop clear, well‑organized investment summaries and presentation materials for internal and external stakeholders, including capital partners and lenders. Collaborate cross‑functionally with asset management, capital markets, and operations teams through closing and post‑close transition. Travel to assets and markets as needed for diligence. Ideal Candidate Profile 3–6 years of relevant experience in net lease, real estate acquisitions, investments, investment banking, or capital markets, ideally with exposure to the net lease or build‑to‑suit sectors gained at a REIT, real estate private equity firm, or private operating company. A credit‑led investment style, attuned to risk management, portfolio diversification, and value creation. Advanced Excel modeling skills and proficiency with Argus Enterprise. Strong understanding of credit analysis, debt and JV structures, legal documentation, and the full transaction lifecycle. Demonstrated ability to underwrite and help execute institutional‑quality transactions in a thorough but time‑efficient manner. Excellent written and verbal communication skills, with the ability to produce clear, IC‑ready analysis. Bachelor’s degree, ideally with a concentration in finance, real estate, accounting, economics, or a related field. High integrity, intellectual curiosity, and a proactive, collaborative approach that thrives in a fast‑paced, entrepreneurial environment. Must be prepared to work in our Washington, D.C. office five days per week and be located in, or willing to relocate to, the D.C. market. Compensation & Benefits Competitive base salary. Performance‑based discretionary bonus and transactional participation. Comprehensive healthcare, 401(k), and benefits. Long‑term opportunity to grow within PRP’s Mission‑Critical platform. EEO Statement PRP does not discriminate in employment on the basis of race, color, religion, sex (including pregnancy and gender identity), national origin, political affiliation, sexual orientation, marital status, disability, genetic information, age, membership in an employee organization, retaliation, parental status, military service, or other non‑merit factor. #J-18808-Ljbffr PRP Real Assets