*Applications due ASAP. Decisions expected to be made by the end of November. *
Acadia Realty Trust (NYSE:AKR) is an equity real estate investment trust focused on delivering long-term, profitable growth via its dual – core and opportunity fund – platforms. Our energized team is accomplishing this goal by building a best-in-class, location-driven core real estate portfolio with meaningful concentrations of assets in the nation’s most dynamic urban and street-retail corridors, including those in New York, San Francisco, Chicago, Washington DC, and Boston. At the same time, we are amplifying this portfolio’s solid growth by making highly-profitable opportunistic and value-add investments through our series of discretionary, institutional funds. For the trailing 15-year period ended December 31, 2014, Acadia’s stock achieved a cumulative total return of 1,388%, placing our company among the industry’s top-performing shopping center REITs.
Acadia is currently seeking a qualified intern to join its Development department, who can provide assistance with the overall management of the development process of large scale retail properties.
Interns are assigned a mentor who will provide guidance throughout the duration of their internship. Interns will be encouraged to learn as much as possible about Acadia and how all of the various departments inter-relate during their experience with us. 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.
INTERNS WILL BE EXPOSED TO & PROVIDE SUPPORT IN THE FOLLOWING AREAS:
Assist in the creation and maintenance of property-level financial models for Fund assets; which includes budgeting for re-development and re-leasing costs; projecting lease-up rents and cash flows; incorporating operating costs and net operating income; inserting debt and equity terms; and confirming investment metrics.
Perform updating and maintenance of financial models for current re-development assets, such as confirming current rent and operating cost projections; inserting actual income and costs; and re-projecting investment metrics.
Present financial analysis and updated models to SVP of Department and other executives.
Oversee in the development of concept plans for re-development properties, such as floor plans and renderings, and coordinate with leasing on the final product.
Track the status of assets currently under re-development, by monitoring estimated completion dates and budgets and understanding any changes to current projections.
Coordinate Acadia’s obligations that pertain to construction and development items for new tenants in our buildings and shopping centers.
Assist in Acadia’s interfacing with 3rd parties, such as lenders, co-op boards, neighbors, government entities, etc.
Attend construction and development meetings, and coordinate or follow up on miscellaneous items.
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
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.