Development Intern

Acadia Realty Trust•Rye, NY

40d•$20 - $23•Onsite

About The Position

Acadia (NYSE:AKR), headquartered in Rye, New York, is a fully-integrated, self-managed and self-administered real estate investment trust. Through our REIT and Investment Management platforms, we are focused primarily on the acquisition, ownership, redevelopment and management of retail properties, including neighborhood and community shopping centers, urban high-barrier-to-entry street retail, and mixed-use properties with retail components. Acadia is currently seeking a qualified intern to join its Development department to provide assistance across active development, redevelopment, and strategic asset management initiatives, with exposure to both financial and physical aspects of projects. Interns are assigned a mentor who will provide guidance throughout the duration of their internship. Interns will also have opportunities to interface with cross-functional teams including Leasing, Construction, and Acquisitions. The intern should be prepared to work in a fast-paced team environment and will apply their skills and diligence toward the various disciplines within the Development department. The intern will finish the internship having gained broad experience in how successful retail and commercial real estate companies execute on development and redevelopment strategies.

Requirements

Must be enrolled in a college degree program at an accredited institution
Must have completed junior year of college
Must be able to work onsite in Rye, NY
Must have a GPA of 3.0 or above
Must have unrestricted work authorization in the US without a visa or sponsorship
Ability to work 40 hours per week

Nice To Haves

Highly Self-motivated
Ability to prioritize challenging work schedule/multi-task
Strong written and verbal communications skills
Proficient in Microsoft Office, particularly Excel
Pursuing degree in related area including commercial real estate.
Demonstrated ability to run financial models through Excel and Argus.

Responsibilities

Track and report on the status of assets currently under development and re-development, by monitoring estimated completion dates and budgets and understanding any changes to current projections.
Assist in the creation and maintenance of property-level financial models.
Assist in lease analysis including yield, payback, NPV, and other metrics.
Compile property-level information, analyze data, and prepare summary reports.
Perform market research and assist with various ad-hoc research projects.
Support preparation of internal presentations and investment committee materials.
Attend construction and development meetings, take meeting minutes, and coordinate or follow up on miscellaneous items.

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