Real Estate Data Center Analyst

Location

Milan / Italy (or hybrid / remote-flexible, to be discussed)

About Lio DC & Lio Factory

Lio DC is the data-center arm of
Lio Group / Lio Factory
, developing, owning, and operating digital infrastructure assets powered 100% by renewable energy.

Lio Factory is an investment platform building long-lasting businesses in transformational verticals, including real estate, hospitality, data centers, and renewable energy
.

Within Lio Factory, we combine deep capabilities across real estate development, energy (via Lio Energy) and infrastructure (via Lio DC) to create synergies across our platforms.

As part of this integrated approach, the Real Estate & DC Analyst will help connect the dots—sourcing land, analyzing development potential, and enabling high-performance, green data center projects.

Reporting Line

You will report directly to the
Head of Investments
(Lio DC), and work closely with the acquisitions, development, engineering, and energy teams.

Role Summary

We are seeking a motivated, analytical, and proactive Real Estate / DC Analyst to support Lio DC's growth and site acquisition pipeline. Your core mission will be to identify, evaluate, and underwrite potential land / site opportunities (for data centers, ancillary uses, or mixed-use), help with permitting and regulatory diligence, and feed your insights into investment decisions.

You will act as a bridge between real estate development and data center engineering, ensuring that land/site acquisition decisions are grounded in both real estate fundamentals and technical constraints of DC projects (power, cooling, connectivity, grid interconnection, environmental constraints, etc.).

Key Responsibilities

• Site / Land Sourcing & Screening
• Identify and evaluate potential sites / land parcels suitable for data center development (or redevelopment)
• Analyze zoning, land use, permitting constraints, environmental restrictions, and local regulations
• Build and maintain a pipeline of site leads, liaising with brokers, local governments, consultants, and landowners
• Financial & Investment Analysis
• • Construct financial models, pro formas, and sensitivity analyses to assess feasibility and returns
• • Support valuation, underwriting, due diligence, scenario analysis, and risk assessment
• • Monitor benchmark metrics (land cost per MW, build cost, operational cost) for comparable projects
• Development & Permitting Support
• • Collaborate with engineering, permitting, and construction teams to validate site technical feasibility (power, connectivity, cooling, site topology)
• • Assist in preparing permit packages, regulatory submissions, environmental studies, and local stakeholder engagement
• • Support logistics around site acquisition (title, easements, surveys, legal diligence)
• Market Research & Intelligence
• • Track and analyze data center, real estate, and energy / renewables market trends
• • Map competitive supply, infrastructure, power availability, fiber connectivity, and regulatory regimes
• • Prepare investment memos, presentations to investment committee, and internal reports
• Cross-Platform Coordination
• • Collaborate with Lio Energy and other Lio Factory teams to integrate considerations of renewable energy sourcing, grid constraints, and energy storage
• • Help identify synergies between data center, real estate, and renewables (e.g. co-location of generation, shared infrastructure)
• Ad hoc tasks & strategic support
• • Assist with special projects as needed (e.g. market entry studies, partnership diligence, alternative site strategies)
• • Contribute to buildout of internal processes, templates, and best practices

Requirements & Qualifications

• Bachelor's or Master's degree in Real Estate, Finance, Engineering, Economics, Urban Planning, or related field
• 1–2 years of experience (depending on seniority) in real estate investment / development, infrastructure, or data center / telecom sectors
• Strong financial modeling skills (Excel, scenario / sensitivity analysis)
• Familiarity with real estate valuation, underwriting, discounted cash flow, IRR, NPV
• Comfort with technical constraints relevant to data centers (power, load, cooling, site topography, fiber, grid interconnection)
• Strong analytical, problem-solving, and quantitative skills
• Excellent written and verbal communication, ability to present to senior stakeholders
• Ability to work cross-functionally and manage multiple parallel tasks
• Strong attention to detail, critical thinking, and ability to question assumptions
• Proactive, entrepreneurial attitude and willingness to engage in hands-on work
• Experience with GIS / mapping tools, site due diligence, permitting or local authority processes is a plus
• Knowledge of renewables / energy policy or PPA / grid integration is a strong plus

What We Offer

• Opportunity to shape and scale Italy's / Europe's next-generation data center infrastructure
• Exposure to a unique, vertically integrated platform combining real estate, renewables, and infrastructure
• A collaborative, high-performance culture with talented teams across engineering, investment, energy
• Competitive compensation, bonus / equity upside (to be determined by seniority & experience)
• Flexible / hybrid work policy (depending on role)
• Professional growth and exposure to all phases: site sourcing → permitting → development → operation