Investment Associate

Macdonald & Company is proud to partner with a rapidly expanding, institutionally backed UK student accommodation investment platform to appoint an Investment Associate. Our client is a high-growth real estate investment and operating business specialising in the acquisition, aggregation, and professional management of student accommodation across the UK. The platform has built a scalable operating model in the PBSA-adjacent shared student living/HMO segment, targeting high-quality, well-located assets and deploying a disciplined, data-driven investment strategy. With significant capital support and a leadership team with deep experience in operational residential real estate, the business is positioning itself as a leading consolidator within the sector. This is an exceptional opportunity to join a fast-scaling platform with a differentiated strategy, strong acquisition pipeline, and meaningful mandate to grow. Gain broad exposure across underwriting, acquisitions, execution, asset optimisation, and portfolio analytics within an entrepreneurial, high-velocity environment. Role Overview Based in the UK, the Investment Associate will support the sourcing, underwriting, and execution of new student accommodation acquisitions, while also contributing to ongoing portfolio performance analysis and strategic planning. Working closely with senior leadership, the Associate will take ownership of key financial analyses, market insights, and investment materials that directly influence decision-making. Key Responsibilities Investment Underwriting & Financial Analysis Build and maintain detailed Excel-based cash flow models for single-asset and portfolio acquisitions. Underwrite rental assumptions, refurbishment capex, operating cost profiles, and stabilised yields across multiple UK university markets. Conduct valuation analysis using DCF methodologies, comparable sales, operational benchmarks, and rental comps. Run sensitivity and scenario analyses around financing, occupancy, capex, and exit strategies. Market Research & Due Diligence Conduct granular market research on student demand drivers, rental trends, licensing requirements, and regulatory considerations across target cities. Lead components of the due diligence process, including lease reviews, compliance checks, surveyor reports, and operational data verification. Support site inspections and engagement with valuers, brokers, and third-party consultants. Synthesise findings into clear, actionable insights for the investment team and Investment Committee. Execution, Asset Management & Portfolio Support Prepare high-quality investment memoranda and presentation materials for Investment Committee approval. Assist with end-to-end transaction execution, coordinating solicitors, lenders, valuers, and other advisers. Support portfolio monitoring, rent roll analysis, MI dashboards, and performance reporting. Work closely with asset management to optimise refurbishment plans, occupancy strategies, and operational KPIs. Candidate Profile Experience & Education Undergraduate or postgraduate degree in finance, economics, real estate, or a related analytical field. 3+ years of experience in real estate investment, private equity, investment banking, or corporate finance. Exposure to residential, PBSA, HMO, BTR, or operational real estate is highly advantageous. Technical & Analytical Skills Strong financial modelling capabilities, including building granular cash flows from first principles. Solid understanding of UK residential/operational real estate valuation techniques. Proficiency in Excel, PowerPoint, and data analysis tools; Argus experience beneficial but not essential. Excellent written communication skills, able to distil complex information into concise recommendations. Professional Attributes Highly organised, detail-oriented, and commercially minded. Strong interpersonal skills with the ability to liaise effectively with brokers, valuers, and senior stakeholders. Comfortable working in a fast-paced, entrepreneurial environment with incomplete or evolving data. Proactive self-starter with strong ownership mentality and collaborative approach. Location & Travel Based within a commutable distance to Central London.