For a student who is trying to make their way into the REPE world post graduation, are these shops a good move for a summer internship? I have a close connection to a well known regional specific developer.
Any thoughts would be great
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What is a boutique legacy developer?
A developer that is small and has developed some trophy level assets but has nothing in the pipeline in the near future.
This is incredibly specific lol
In that case.. probably not great experience if you won't be working on anything
Yeah I mean better than nothing?? Could be good experience if you are either operating their existing assets or looking for new deals. And if it’s just an internship it couldn’t hurt. But a shop that is actively developing / acquiring assets would obviously be better
It’s an internship. It’s experience on the resume. Stop worrying. It’s 4 months of your life. Learn and see if you like it. Worry later.
Being a junior in real estate is about 2 things:
I would be skeptical that you will get much experience on the sort of execution work you'd be doing in REPE at a small developer. It might be helpful for your network, but you'd be much better off at a commercial brokerage or other place where you'd get lots of reps of evaluating / valuing opportunities.
If by "can you execute" you mean can you throw together a model and a memo lol
Literally anything is a good move when discussing a summer internship. No one will have expected you to underwrite a deal or be actively involved in a transaction/development project. You're dipping your toe in the water so that when you apply for a full time gig, employers know that you won't need a month of hand holding to understand terms and concepts.
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