Course Overview

The Summer Internship program is a full-time, paid 10-week commitment

The goal of the program is to provide students with an in-depth look into the world of commercial real estate, specifically multifamily workforce housing. As you continue your education, our goal is that you will be able to apply your experiences and knowledge learned in the program.

CRP is a vertically integrated real estate company (i.e. investment, asset management, construction management, and property management), and the program will be structured so interns get exposure with each of these functions within the different business units.

Office Location: Austin, Texas, but will consider working remotely in lieu of COVID-19

Program Curriculum

During your internship, you will cover and learn about the following aspects of the business.

• Key Players – Principal, Equity Capital Sources, Debt Providers, Financial Intermediaries, Residents, Contractors, Subcontractors, Service Providers (Brokers, Property Management, Leasing Agents, Development / CM Services, Title Companies, Appraisal Firms, Legal Advisors)
• CRP’s Role(s) as an Industry Player – Acquisitions, Asset Management, Buyer and Seller of Properties, Investment Management, Property Management, Construction Management, Investment Manager / Sponsor
• Types of Investment – Nuances of: Core, Value-Add, Opportunistic, Nuances of: Urban v Suburban, First-Tier v Second-Tier, v Third-Tier cities
• Types of Business Units –Acquisitions, Refinances, and Dispositions, Investment Management, Property and Asset Management, Data Analytics, Construction Management
• Management Agreements –Property Management Agreements, Marketing and Leasing Agreements, Construction Management Agreements
• Third Party Consulting Agreements – Architects, Engineers, Specialized Consultants
• Economic Influencers – Population Growth, Employment Growth, Household Income, Vehicular / Foot Traffic, Consumer Confidence Levels
• Equity Capital Sources – REITs, Opportunity Funds, Institutional Investors, High Net Worth Investors, Family Offices
• Partnership Structures – Partnership Agreements, General Partner v Limited Partner’s Role, Distribution of Cash Flow, Waterfall Structure
• Debt Providers – Government Agencies, Commercial Banks, Insurance Companies, Debt Funds
• Debt Structures –Permanent Financing, v Mezzanine Financing, Loan to Value Ratio, Debt Service Coverage Ratio, Fixed v Variable Interest Rates, Recourse v Non-Recourse Loans
• Intermediaries – Listing Brokers, Debt Sourcing Consultants, Equity Sourcing Consultants
• Financial Analysis – Proforma / DCF, Investment Performance Yardsticks (Yield on Cost, Cap Rates, IRR), Management Tools (Rent Roll, Operating Statement, Market Research)
• Pre-Acquisition Analysis – Initial Underwriting, Property Tour, Investment Committee Preparation, Offer, Negotiation, Due Diligence, Business Plan Formation, Capital Raising, Closing, Takeover Transition
• Underwriting Terminology – Cap Rate, LTV / LTC, Economic Vacancy, Mark-to-Market, Capital Improvements, Net Operating Income, Distributions, Exit
• Post-Close – Asset / Property Management Hand-off, Business Plan Execution, Capital Event Monitoring

As a part of your internship – you will be asked to complete the following projects. As the internship develops, CRP will vet adjusting.

Case Study Ideas

• Underwrite an opportunity and put together SWOT analysis of the opportunity
• Aggregate research on new, target markets to better under the strengths, drivers, weaknesses, and risks that the markets pose to our investment strategy
• Re-vamp internal documents, models, presentations

Common Tasks

Your role as an intern is to add value to CRP’s assets by supporting the Investment Management business unit. The internship is intended to provide a forum for applying knowledge from your classroom. You will be provided to join in various site tours (if travel allows), weekly internal Investments meetings, lender / investors calls, and attend CRP internal operations and management committee meetings. In addition, you will be expected to participate in CRP provided real life case studies, perform tasks that require skill with various software (Excel, PowerPoint), gather project data, prepare, and assemble reports.

Qualifications

• Full-Time Undergraduate Student at Top 50 Institution between junior or senior year

OR

• Full-Time Graduate Student at Top 50 Institution between first and second year
• Interest in Commercial Real Estate and a desire to be exposed to multiple facets of the business
• Strong written and verbal communication (including presentation) skills
• Ability to gather, analyze, interpret, and summarize date, advanced Excel skills preferred

How to Apply

To be considered for the CRP Summer Internship Program, please send your resume to amiller@comunidadpartners.com or submit your resume www.comunidadpartners.com/careers

CRP will be scheduling the interview process in the last week of May with a goal of selecting the participants by the beginning of June.

About Us

Comunidad Realty Partners is a dynamic, vertically integrated real estate investment company specializing in workforce and affordable housing in culturally diverse communities throughout the United States. The firm is proudly a 100% minority- and women-owned firm and heavily focuses its investments activities on positively impacting communities through its environmental, social, and governance (ESG) practices and its corporate culture of diversity & inclusion. Core to it’s mission is creating culturally-relevant, inclusive communities that are tailored to the specific needs and wants of the diverse residents living at the communities it serves.

Comunidad Realty Partners has grown into one of the largest full-service workforce housing real estate investment firms in the Sun Belt. Our team of more than 100 professionals throughout our portfolio, delivers specialized expertise in investment management, asset management, construction management, and data analytics. The firm has a regional office in Austin, Texas where our investment professionals are located. We offer extensive, market-specific knowledge spanning across a number of markets from California to Florida, and everything in between.

At Comunidad, we’ve built our continued success on a simple formula: approach every relationship with integrity, be passionate about what you care about, and strive towards maximizing the triple bottom line where social, environmental, and economic returns are optimized. Our conscientious, innovative approach helps us earn resident and investor trust to drive better value for our stakeholders. We are a company dedicated to the needs of property owners, investors, tenants, and the community. It’s doing the right thing, for the right reasons to ultimately build communities and enrich lives.

Equal Employment Opportunity Statement

We believe that the unique contributions and perspectives of our employees is the driver of our success. We are deeply committed to creating an inclusive environment where every individual is supported and differences are celebrated. Comuna is proud to be an equal opportunity employer and is committed to giving every candidate equal consideration regardless of age, race, ancestry, religion, sex, gender identity, sexual orientation, pregnancy, marital status, ancestry, physical or mental disability, military or veteran status, national origin, or any other characteristic.

We're eager to meet people that believe in our mission and can contribute to our team in a variety of ways – not just candidates who can do the job, but candidates seeking a long-lasting opportunity to make a difference! If you have been searching for a company who takes great pride in their services and mission, let’s connect!

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