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!
I am currently an undergraduate student who is graduating this December.
A bit left field here given that this is mainly a finance forum, but has anyone interested in CRE, and more specifically development, given serious thought to starting their career in a construction role as opposed to something more traditional like AM or IS?
I've been working with a well known developer in the Northeast US and listened to his story as to how he got involved in this business and why. What's your Why, When, How and Where?
Long time lurker, first time poster here.
I live in a secondary city and a lot of infill neighborhoods are seeing tremendous growth.
I’ve seen developers rezone sites that were originally 60ft MAX, and their variance was able to grant them the right to build 195 ft or 19 stories rather; extremly rare cases but I want to illustrate my concerns below:
Hoping to get some feedback from some vets in the real estate development arena. I am a civil engineer with 2 years experience developing large commercial industrial sites in Texas including the last half year managing projects. Ive done work for some of the big boys (Hines, Trammel Crow, etc) and do a lot of estimating, feasibility, design and permitting.
@WallStreetOasis.com" has been invaluable to me since I decided 5 years ago to make a career change into commercial real estate (from non finance) so its my turn to give back. I hope my story can help some people. ####Background * Extreme non-target school (undergrad and MBA) * Worked 10 years in non-finance employment (and unemployment as a stay at home parent), did some entrepreneurial ventures * Got a CRE brokerage job in secondary market from a different city.
Let's say you are an investor looking at an opportunity to capitalize either mezzanine debt or preferred equity to fund the development of an apartment building which will cost $100m. 65% construction loan, 15% mezz/pref, 20% common equity.