Nuveen RE Teams - Industrials, Single Family, Retail and Life Sciences
Hi everyone, recently accepted an offer for Nuveen's Real Estate summer program for 2023 in the NYC office and now have to choose a team to intern with. As mentioned, my top choices right now are Industrials, Single Family, Retail, and Life Sciences. For context, I was at a multifamily REPE fund last summer and want to diversify.If anyone can offer some insight or advice about which team would be best for an internship, I would greatly appreciate it. Or if you have some intuition about the sectors in general, would love to hear what trends you are seeing / which would provide the best exit ops.Looking to learn as much as possible over the summer. Thank you! (posting for a friend)
If you are trying to diversify from your previous experience, I would exclude SFR. It falls under resi and you wouldn't be getting much diversification there and probably would be limited to residential opportunities going forward. If that is your calling and residential (MFH, SFR, BTR etc) is your calling, then go for it.
Personal opinion would be 1) Life Sciences 2) Retail 3) Industrial. The main importance for these is that I would assume you would get Argus experience, and thus be able to add to your resume. For someone like you in undergrad (assuming), this would be a great resume booster.
1) Life Sciences - seems to have strong tailwinds although news about Venture Capital funding has been seen to decline. I personally just like the details involved in underwriting it and looking at it from a design perspective such as ventiliation, vibration of building etc. There are some good research reports on it as well. Believe there is another forum on WSO outlining what there is to consider when analyzing so definitely take a look.
2) Retail - Being more incorporated with mixed-use and master development plans so could lead you to underwrite a retail portion of a mixed-use asset such as office/retail and you could demonstrate your curiosity to learn about the other component of the asset as well. If Nuveen has a "mixed-use" platform that this would fall under, I would add to list if you could instead of SFR. I don't think stand-alone retail would be bad but probably would see less deal flow than Life Sciences and Industrial at this point.
3) Industrial - Been a hot product type and having a multi and industrial background could be beneficial as a lot of shops have been very focused on these two product types last 4-6 years.
Regardless, you are in a very good position and Nuveen is a great firm. Best of luck.
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