Advice for a Junior

Hi All,

I'm a junior at a lower target (Brown/Cornell/Penn/etc) who's very interested in a BB IBD internship next summer. Pretty typical and similar to everyone else on this site, but I am in a slightly unique situation at the moment and would appreciate some advice from the WSO community.

My background is all in real estate: I spent freshman year buying foreclosed properties for conversion into rentals with my dad at his business and I spent this summer at a top BB (GS/MS) doing real estate, more specifically, management of internal real estate investments.

Going into this summer, I knew I was more interested in banking and made that known to my manager during my firm's mobility process. I had networked extensively during the internship and one of my contacts called me before my last day to ask about my plans for next summer. I had a sort of informal interview with two VPs from the group the next day and I think it went pretty well as one was an alumni who talked a lot about our school. They said they would be in touch, but I haven't heard back yet. I also haven't heard from HR regarding the formal internal mobility process either.

Concerns:
1) HR did call to alert me that my group did not extend a return offer. I'm not certain how bad this is, as I wasn't planning on going back regardless and I had great reviews all summer from my manager and my analyst buddy- both of whom I was close to. How bad does this look to IBD? Does this kill my chances for mobility at my BB?

2) If mobility is out of the equation, how well does my resume set me up for BB (I'd take any IB internship, but would prefer BB) interviews? Many of my friends did Boutique IB this year and I'm concerned because I don't really have any IB experience and I'm also a liberal arts major at school although I am involved in several finance clubs. In terms of recruiting, is BB BO experience a lot worse than Boutique IB experience? I haven't networked too much with individuals at other firms though my school has a large alumni network.

3) How should I spin my real estate internship on my resume? I had projects where I ran cost comps for services the firm would employ for real estate management and did modeling although it was schedule modeling rather than any sort of financial modeling. I also projected cash flow, although it was all outflow for developments the firm was investing in. Because my title for this job on my resume just says "Summer Analyst" I can make the job sound quite similar to banking.

Thanks for reading such a long post and I really would appreciate any and all advice offered!