Real Assets, CMBS Associate

Blue Owl (NYSE: OWL) is a leading asset manager that is redefining alternatives®.

With over $307 billion in assets under management as of December 31, 2025, we invest across three multi-strategy platforms: Credit, Real Assets and GP Strategic Capital. Anchored by a strong permanent capital base, we provide businesses with private capital solutions to drive long-term growth and offer institutional investors, individual investors, and insurance companies differentiated alternative investment opportunities that aim to deliver strong performance, risk-adjusted returns, and capital preservation.

Together with approximately 1,365 experienced professionals globally, Blue Owl brings the vision and discipline to create the exceptional. To learn more, visit www.blueowl.com

Responsibilities:

• Partner with senior team members to source, underwrite, structure, and execute new investments across the capital structure, with an emphasis on CMBS and other securitized CRE credit, with a primary focus on SASB CMBS.
• Actively trade CMBS and other securitized CRE credit assets in the secondary market, originating trade ideas and delivering best execution for clients.
• Engage in all aspects of due diligence and investment analysis to develop and refine investment theses. This includes asset-level analysis, market research, deal negotiation, structuring, and underwriting.
• Assisting in the development of investment memos and supporting analysis to help drive the investment process and inform the decision-making of our investment committee.
• Involvement in portfolio management and asset allocation for our various strategies and investment objectives.

Qualifications:

• A bachelor's degree from a top-tier undergraduate program is required.
• 2-4 years of experience in real estate finance investing (preferably real estate investment banking, securitized product trading, private equity, private credit, family office, hedge fund, institutional brokerage, or REIT acquisitions roles).
• Exceptional quantitative and analytical skills.
• Excellent verbal and written communication skills.
• Ability to work effectively in a team environment.
• Ability to manage multiple priorities with autonomy to accomplish objectives promptly.
• Strong understanding of financial markets and trading.

It is expected that the base annual salary range for this New York City-based non-exempt position will $125,000. Actual salaries may vary based on factors, such as skill, experience, and qualification for the role. Employees may be eligible for a discretionary bonus, based on factors such as individual and team performance.