Program in Real Estate Internships
Although the real estate market is still far from being great, Cornell Program in Real Estate student’s are landing top internships. The common theme among almost all the internships is that they involve a Cornell Connection. One of the unique features of Cornell’s Program in Real Estate that differentiates it from other single year master in real estate programs is the opportunity for students to participate in an internship between their first and second years of the program. The internship gives students the ability to apply real estate fundamentals they have learned during their first year in a real world setting. Students have pursued a wide range of internships, both domestically and internationally, including, but not limited to: real estate investment banking, consulting and advisory services, development, and investment management. The internship is also the perfect opportunity for students who are changing careers and allows them to explore different areas of the real estate industry and gain valuable practical experience. Internships are secured through relationships the Program in Real Estate has with employers, student’s personal networks, and contacts students make during their first year in the program through conference attendance and networking functions.
A sampling of the Class of 2011 Summer Internships:
Andrew Green (MPS/RE ’11)
“The Cornell Program in Real Estate has prepared me well for my internship in private equity this summer. There is no other Masters program in the country that could have given me both the management and analytical skill set of a MBA program while also arming me with an in depth understanding of real estate specific assets and how they are affected by the broader market. Coming from a background in investment banking, the quantitative aspects of the program continues to challenge and excite me.”
Wylie Gibbons (MPS/RE ’11)
Project Management & Land Acquisition Summer Associate
Toll Brothers- Dallas Division
Bob Toll, President and CEO of Toll Brothers, is on the Advisory Board for the Cornell Program in Real Estate and commits to hiring two PRE students each summer. After interviewing over spring break, Wylie accepted a summer position in the Dallas Office working with project managers and the land acquisition team.
Richard Weidel (MPS/RE ’11)
Real Estate Capital Partners
Richard will be interning in private equity for Real Estate Capital Partners with the investments and acquisitions team. Richard found out about the opportunity from an alumnus while staffing at the Cornell Program in Real Estate booth in San Francisco during the PRE trip to the Urban Land Institute Conference. He expects to be working on equity investments in class-A office buildings and joint-venture development projects.
Stephen Woodard (MPS/RE ’11)
Westport Capital Partners
Stephen is excited to be joining Westport Capital for the summer and to be working in distressed and opportunistic investments. He was hired to assist in underwriting equity and debt transactions as well as real estate securities. Steve’s advice: “be persistent, leverage existing and Cornell networks and perform in class.” He was referred to the company through his teaching assistant who interned at Westport last summer.
Sam Bechtold (MPS/RE ’11)
Los Arboles Management
Sam will be interning with the portfolio and asset management group at Los Arboles Management.
He expects to be working on capital expenditure analysis and project management on cap ex projects that are already underway at Los Arboles Management.
Sam advises that a “successful internship search would be to do whatever it takes to get in front of the decision makers in the company that will be hiring you. It is not enough to send an e-mail and hope you get a call back. The decision makers get far too many e-mails on a daily basis and unless you have a very compelling story or sales pitch, chances are that you will not get a call back. Being proactive by calling and offering to travel to their office to interview in person will show your passion for the company and position.”