Associate – Real Estate Valuation and Advisory Services

Job Description

Overview

Financial And Valuation Advisory

Generalist/REVS

Houlihan Lokey, Inc. (NYSE:HLI) is a leading global investment bank recognized for delivering independent strategic and financial advice to corporations, financial sponsors, and governments. With uniquely deep industry expertise, broad international reach, and a partnership approach rooted in trust, the firm provides innovative, integrated solutions across mergers and acquisitions, capital solutions, financial restructuring, and financial and valuation advisory. Our unmatched transaction volumes provide differentiated, data-driven perspectives that help our clients achieve their most critical goals. To learn more about Houlihan Lokey, please visit HL.com.

Over the past 50+ years, Houlihan Lokey has established one of the largest worldwide financial and valuation advisory practices. Our transaction expertise and leadership in the field of valuation inspire confidence in the financial executives, boards of directors, special committees, investors, and business owners we serve. In 2025, LSEG ranked us the No. 1 global M&A fairness opinion advisor over the past 25 years. Our stability, integrity, technical leadership, and global capabilities make us a trusted advisor for clients worldwide, across a wide range of services, including the Transaction Opinions, Transaction Advisory Services, Corporate Valuation Advisory Services, Portfolio Valuation and Fund Advisory Services, Real Estate Valuation and Advisory Services, and Dispute Resolution Consulting practices.

Houlihan Lokey’s Real Estate Valuation and Advisory Services practice (REVS) brings dedicated expertise to the unique challenges inherent in valuing real estate assets. Our seasoned team of real estate professionals has a distinguished history of valuing real estate companies and their underlying securities, large real estate portfolios, and individual properties.

The group is composed of credentialed industry professionals who hold the MAI designation awarded by the Appraisal Institute, Certified Public Accountants, as well as Accredited Senior Appraisers of the American Society of Appraisers (ASA) and professional members of the Royal Institute of Chartered Surveyors (MRICS and FRICS). Our capabilities go far beyond appraisal, with our REVS team regularly working alongside our Real Estate, Lodging & Leisure Group (Corporate Finance/ Restructuring) to provide distinctive expertise in transaction execution. Such market intelligence empowers our REVS team to deliver real-time insight based on real-world transactional experience.

Our Real Estate Valuation and Advisory Services (REVS) team is recruiting for a new Associate. We have availability in our Los Angeles, Chicago, Dallas, Atlanta, and New York offices. As an Associate, you will conduct financial research, review and analyze complex real estate models, help lead client diligence calls, and work with other Analysts, Associates and Officers to execute valuation advisory work, often in connection with high-profile real estate transactions. You will work with many leading REITs, real estate private equity firms, and real estate operators, analyzing and valuing their investments for a variety of purposes.

The Associate will work with a highly talented and dedicated staff of professionals who will give broad exposure to the many different issues and concerns affecting real estate businesses and investors today. The environment at Houlihan Lokey is collegial and entrepreneurial and rewards Associates with substantial responsibility and interaction with senior-level professionals.

Responsibilities

Work alongside Analysts, Associates, and Officers valuing commercial real estate investments across various asset classes (multifamily, retail, industrial, hospitality, and more).
Be actively involved in various client engagements, including valuation and advisory work related to investor and financial reporting, due diligence, and transaction opinions.
Collect, manipulate, and analyze property, market and financial data.
Acquire knowledge of the use and capabilities of subscription data sources and software, including Costar, REIS, Green Street, Real Capital Analytics, Marshall Valuation Services, ARGUS, etc.
Analyze historic property operating statements and analyze leases.
Assist Officers in the preparation of complex cash flow models using Excel and/or ARGUS software, including analyzing available data to estimate revenues, costs, and rates of return.
Estimate value of real estate investments at various levels of the capital stack, including asset-level valuations, equity valuations, preferred equity valuations, and debt valuations.
Prepare reports and presentations to team and clients, including graphic and written sections.
Review Analysts and Associates work products, providing real-time coaching on technical and real estate market matters.
Regularly present results from modeling and valuation projects directly to Officers and Clients.

Qualifications

3-5 years of direct real estate valuation experience demonstrating analytical capabilities.
A strong interest in real estate advisory work (ie, valuation consulting).

Preferred Qualifications

Teamwork is essential to the firm’s success.
At the same time, creativity and new ideas are encouraged.
Associates are given substantial responsibility and are encouraged to help us grow our business.
The ideal candidate should be motivated, creative, outgoing, and possess strong financial analysis skills.
Undergraduate coursework in real estate finance, real estate valuation, or related fields
Strong understanding of real estate valuation theory, methodologies, and applications
Exceptional analytical abilities
Strong Excel modeling skills (e.g., waterfall calculations, building discounted cash flows, writing macros, etc.) and PowerPoint
Proficiency in ARGUS
Excellent verbal and written communication skills
Strong work ethic and attention to detail
Ability to multi-task and work in a fast-paced environment

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