Job Description

Research Associate, Real Estate/REITS

Our highly regarded Australian Equities Research team delivers differentiated, high-conviction investment insights to institutional investors across the Australian market. We provide independent, research-driven analysis covering a broad universe of ASX-listed companies across key sectors including Financials, Resources, Energy, Industrials, Consumer, Healthcare, Technology, REITs and Small & Mid-Cap Equities.

We are seeking a Research Associate to support the Australian Real Estate Equity Research team through financial modeling, company and industry analysis, thematic research, and client engagement. The ideal candidate is intellectually curious, analytically rigorous, highly accountable, and thrives in a fast-paced, deadline-driven environment.

Responsibilities

• Support the Australian Real Estate Equity Research team in delivering high-quality, independent, and objective investment research to institutional investors.
• Conduct detailed analysis of Australian REITs, property developers, and real estate operating companies, including management teams, asset portfolios, capital structures, and industry trends.
• Maintain and enhance company financial models, including earnings forecasts, NAV models, DCF valuations, and relative valuation frameworks.
• Monitor and analyze key sector drivers including property valuations, rental growth, occupancy trends, development pipelines, capital management initiatives, interest rates, and macroeconomic developments.
• Assist in the preparation of earnings previews and reviews, initiation reports, thematic sector publications, company updates, and other research products.
• Participate in meetings with company management teams, property tours, site visits, industry conferences, and discussions with industry experts and consultants.
• Support client interactions by responding to investor inquiries, preparing marketing materials, and assisting with institutional client engagements.
• Develop and maintain industry databases covering property transactions, valuation metrics, leasing activity, and sector performance benchmarks.
• Collaborate closely with sales, trading, and research colleagues to deliver timely and actionable insights to clients.
• Appropriately assess risk when business decisions are made, demonstrating consideration for the firm's reputation, clients, and assets by adhering to applicable regulations, policies, ethical standards, and control procedures.

Qualifications

• Bachelor’s degree in Finance, Accounting, Economics, Real Estate, Commerce, or a related discipline. CFA progress or completion is preferred.
• 1-3+ years of experience in equity research, consulting, investment banking, asset management, commercial real estate, valuation, or a related analytical role.
• Prior experience covering Australian real estate, REITs, property developers, or real assets is highly desirable.
• Strong financial modeling, accounting, and valuation skills, including experience with NAV, DCF, and relative valuation methodologies.
• Understanding of key real estate performance metrics, including FFO, AFFO, NTA/NAV, cap rates, occupancy, leasing spreads, and development returns.
• Proficiency in Excel, PowerPoint, Bloomberg, FactSet, and other financial databases.
• Excellent written and verbal communication skills, with the ability to distill complex information into clear investment conclusions.
• Strong attention to detail, organizational skills, and ability to manage multiple priorities under tight deadlines.
• Demonstrated intellectual curiosity, commercial awareness, and a collaborative mindset.

Jefferies is a leading global, full-service investment banking and capital markets firm that provides advisory, sales and trading, research, and wealth and asset management services. With more than 40 offices around the world, we offer insights and expertise to investors, companies, and governments.

At Jefferies, we believe that diversity fosters creativity, innovation and thought leadership through the infusion of new ideas and perspectives. We have made a commitment to building a culture that provides opportunities for all employees regardless of our differences and supports a workforce that is reflective of the communities where we work and live. As a result, we are able to pool our collective insights and intelligence to provide fresh and innovative thinking for our clients.

Jefferies is an equal employment opportunity employer, and takes affirmative action to ensure that all qualified applicants will receive consideration for employment without regard to race, creed, color, national origin, ancestry, religion, gender, pregnancy, age, physical or mental disability, marital status, sexual orientation, gender identity or expression, veteran or military status, genetic information, reproductive health decisions, or any other factor protected by applicable law. We are committed to hiring the most qualified applicants and complying with all federal, state, and local equal employment opportunity laws. As part of this commitment, Jefferies will extend reasonable accommodations to individuals with disabilities, as required by applicable law.

#LI-AS#

Jefferies is a leading global, full-service investment banking and capital markets firm that provides advisory, sales and trading, research, and wealth and asset management services. With more than 40 offices around the world, we offer insights and expertise to investors, companies, and governments.

At Jefferies, we believe that diversity fosters creativity, innovation and thought leadership through the infusion of new ideas and perspectives. We have made a commitment to building a culture that provides opportunities for all employees regardless of our differences and supports a workforce that is reflective of the communities where we work and live. As a result, we are able to pool our collective insights and intelligence to provide fresh and innovative thinking for our clients.

Jefferies is an equal employment opportunity employer, and takes affirmative action to ensure that all qualified applicants will receive consideration for employment without regard to race, creed, color, national origin, ancestry, religion, gender, pregnancy, age, physical or mental disability, marital status, sexual orientation, gender identity or expression, veteran or military status, genetic information, reproductive health decisions, or any other factor protected by applicable law. We are committed to hiring the most qualified applicants and complying with all federal, state, and local equal employment opportunity laws. As part of this commitment, Jefferies will extend reasonable accommodations to individuals with disabilities, as required by applicable law.