Underwriting Associate

About Columbia Creek:

Columbia Creek is a privately held real estate investment firm focused on acquiring and repositioning distressed or mismanaged retail assets throughout the United States. Our specialty is single-floor strip malls and free-standing retail centers — from $3M local properties to $40M redevelopment projects. We operate as a lean, fast-moving team executing high-leverage strategies to unlock value through repositioning and hands-on asset management.

About the Role:

We’re hiring an Underwriting Associate to act as the “first responder” on new property leads. Your job is to quickly (within 1 h) evaluate raw retail opportunities and turn them into investable business cases. You'll assess the potential upside, pressure-test assumptions, and help us make buy decisions — fast.

This is napkin underwriting with real impact: based on your analysis, we decide whether to make an offer. You’ll also support deeper second-round reviews and follow-up diligence for deals we pursue.

• Underwrite property leads daily across U.S. markets, with a focus on Washington

• Quickly turn around high-level investment analyses: check zoning, pull lease comps, assess value-add potential

• Build and maintain financial models (cash-flow, sensitivity, DCR, IRR, equity multiple, waterfall)

• Call brokers, qualify leads, and clarify assumptions

• Conduct market and HBU analysis: rent/sales comps, zoning/FAR, demographic trends, parking requirements

• Draft concise IC memos and lender packages that clearly defend the business plan and risk profile

• Support deeper diligence for deals that move to the next phase

• 1–3 years of hands-on underwriting experience (real estate or investment banking) for the U.S. market

• Direct exposure to U.S. retail real estate, especially strip malls or value-add repositioning

• Bachelor's degree in Finance, Real Estate, Economics, Engineering, or a related field

• Proficient in Excel and Google Sheets (including nested formulas, Power Query or VBA a plus)

• Demonstrated ability to model ground-up or heavy-value-add projects (IRR, equity multiple, waterfall).

• Comfortable interpreting zoning codes, reading architectural drawings, and discussing site layout plans

• Clear written and verbal communication; able to distill a 50-tab model into a five-slide pitch.

• Sharp, fast, and organized — you don’t wait for instruction, you take initiative
  

⏰ Working Hours:

The Managing Partners are based in Seattle (PST), and we need someone who can reliably overlap with our core working hours. Required availability: 8:00 AM – 3:00 PM PST (Monday to Friday). The remaining 2 hours are flexible. We value responsiveness during working sessions and give you autonomy for deep focus the rest of the time.

• Full-time job (8 working hours per day, Monday-Friday). Please note that we will not consider candidates planning to combine several jobs.

• Direct Impact – Your underwriting will directly influence multimillion-dollar investment decisions. You’ll be a key part of a lean, entrepreneurial team—not a cog in a corporate machine.

• Speed & Autonomy – We move fast and value independent thinking.

• Salary will be discussed during the interview. Paid in USD.

• Quick selection process.

Hire5 is a hiring agency that connects US startups with remote global talents. To empower startups by providing access to a diverse pool of global talent, enabling them to innovate and grow efficiently.