The job description was more tailored towards due diligence than underwriting, but had 1 line about updating financial models for investments.
The majority of the duties are making sure all the due diligence material is in order etc, with the financier, etc.
Any thoughts about this type of position?
It's not uncommon that a REIT will have a "Transactions Manger/Analyst/Associate". Their primary duties are more qualitative rather than quantitative in my opinion. Essentially, the person will schedule the various customary inspections during diligence, communicate with the lender, report findings to the acquisitions team, ensure legal documentation is in order, etc...
Those in this position are not considered to be on the "business side" or revenue generating side of the business. For that reason I'd pass unless you believe there to be a path to the acquisitions or asset management teams.
I'd also add that this position may be somewhat of a glorified paper pusher type situation with limited creative or thought provoking work.