I'm about to start my summer internship at a large development firm on the west coast and wanted to see if anyone can speak to what tasks they have had as a development/acquisitions intern? Just hoping to get an idea of what I should be learning before so I'm not dead weight, thank you!
| +48 | Being asked to stay behind and train my replacement | 14 | 2d | |
| +45 | New Comp Database - Google Form (Now with Data Validation) | 24 | 1h | |
| +30 | What does REPE actually do? | 12 | 22h | |
| +25 | Leave brokerage to be GP | 1 | 12h | |
| +24 | Public Homebuilders | 9 | 1d | |
| +23 | Seeking Career Guidance in Real Estate Development Post-Graduation | 3 | 3h | |
| +22 | REPE/Development GPA | 15 | 1d | |
| +17 | MSRE/MSRED with no RE experience; Naive to think I’ll land a job afterwards? | 4 | 3d | |
| +16 | UC Berkeley MRED vs Columbia MSRED? | 2 | 4d | |
| +15 | Hospitality Finance - Perks? | 3 | 6d |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Interning at a multifamily development firm also. Would like to hear some advice as well.
I did an internship at a large multifamily development company but by design I worked primarily alongside their general contracting arm. That being said, I still interfaced with the development team and did a bit of work for them as well.
Common projects would likely be either gathering rent comps for potential developments or sifting through public databases to help track overall market activity. I think it would be a really good idea to familiarize yourself with the various public tools available in the markets your employer is active in.
For example:
Tax Assessors Website - Know how to research who owns a parcel of land, what the land is zoned for, when did it last sell / for how much. All useful information when looking for future development sites.
Public Records Search/Recorders Office - Learn to analyze the documents that are recorded against a property. A deed of trust can tell you who holds the construction debt & when it was originated. A regulatory agreement will tell you that the project includes an affordable component. Part of a developer's job is knowing what's going on in their market.
Permitting/Planning/Contruction Departments - Know how to research and identify developments that already have approval from the city. You can also potentially find project proposals for planned/prospecitive developments as well.
Do you know if you will be assigned to a specific team or function? That pretty much sets the pace of duties for most interns. Generally, interns at our firm do a lot of research, run around tasks, note taking in meetings, odd job organizational tasks, and sometimes gets special projects based on abilities/trust.
The exactly what depends on who they get assigned to and what stage project they are running.
You could also get 'passed around' the office and do all sorts of things that can vary day by day and week by week. So really, there is commonality in this regard. That's the fun of internships.
Congrats!
When I interned at a large development company, I ended up floating around between finance, development, and construction groups. Tasks varied wildly each day and didn't really have a 'go to' boss which was great and at times not so great. If they don't have structure in place for interns, it will be up to you to create a great experience by being proactive. It can be tough because everyone is so busy. I'd recommend any meeting you sit in to take notes and email the summary to those it may help. Ask if there is anything you can help with. Just finding ways to take tasks off other people's plates goes a long way.
Ultimately, the most valuable part of the internship is the relationships formed. Try to meet and have coffee with as many people in all parts of the company as you can.
Good luck!
Dolore voluptates velit rerum laboriosam quae. Doloribus id eligendi voluptate rerum.
Totam velit culpa aut rerum magnam omnis. Eligendi laborum dicta aperiam odio nulla aut. Soluta eveniet neque commodi eum omnis.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...