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 September 25, 2020
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Student Internship Highlight - Liberty Bank
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Dylan Foley interned remotely with Liberty Bank's Commercial Credit Underwriting Department this summer with a focus on commercial real estate. Dylan is entering his final semester at UConn as a Real Estate and Urban Economics major with an expected graduation date of December 2020. This is his second summer interning with Liberty Bank. Liberty Bank is Connecticut's oldest bank and, in 2019, was ranked #4 in the United States on Forbes' World's Best Banks list. Liberty Bank offers service to customers through consumer and commercial banking, home mortgages, insurance, and investment services. Liberty Bank holds assets of over $6.7 billion dollars, with Commercial Real Estate loans making up over $2.1 billion. Through his experience at Liberty, Dylan became an active contributor in the underwriting of many loans secured by commercial real estate.
As a Credit Risk Management intern, Dylan focused on underwriting commercial real estate loans and creating loan presentations for the Bank's credit committee. Dylan worked on underwriting loans secured by properties located throughout Connecticut and the Northeast. In addition to underwriting, Dylan was involved in weekly team meetings, researching emerging markets and industries, and performing annual participant bank reviews. He participated in, and contributed to, credit committee meetings where the loans that he underwrote were presented for approval based on credit worthiness, ROI, reliability, and security. During this internship, Dylan learned about different sectors of the real estate industry including industrial, retail, multi-family, office, and storage. In addition to learning the industry in greater detail, he enhanced his knowledge in banking and real estate software including Microsoft Office, Argus Enterprise, Insight, and Sageworks.
Regarding his internship experience, Dylan stated, "I am extremely grateful to be invited back to Liberty Bank this summer to continue where I left off last year. I have learned so much about the banking industry, specifically Real Estate lending from an inside perspective, and I find that knowledge essential to understanding the world of Real Estate finance. Working here has opened up my eyes to the process of financing and all the work that goes into underwriting quality loans."
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Student Internship Highlight - GID
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Kristina Kasper, a rising senior, has spent the summer interning on the Portfolio and Asset Management team at GID. GID is a private equity real estate investment and fund management company. GID develops, owns and manages a portfolio of multi-family, industrial, and mixed-use development space across the United States.
GID's 10 week internship program was offered fully online and allowed for a well rounded experience that provided exposure to not only the Portfolio and Asset Management team, but the real estate industry as a whole. As a part of the program, Kristina participated in multiple educational series each week. These were presentations from different departments within the company to teach the interns about other areas within the real estate industry. Kristina learned about portfolio management, appraisal, acquisitions, development, property management and more. These presentations were often followed by projects which allowed for Kristina to work for and learn from professionals within different departments. Following the acquisitions presentation, Kristina worked on a group project with the Acquisitions team to underwrite an Atlanta apartment complex. This was an informative project that taught Kristina how GID values properties to determine whether or not they would be a beneficial addition to the portfolio.
Kristina's main individual project was to create a Property Summary Dashboard using Microsoft Power BI. She developed an interactive model that allows users to filter data to display financials, statistics, graphs, and general information about individual properties. This model was something that Kristina built from scratch and will be used by analysts on a regular basis. From working on this project, Kristina has developed a better understanding on how to analyze properties and manipulate data into easily digestible visualizations. She has also become very familiar with Microsoft Power BI and data modeling techniques.
Kristina is very grateful to have had the opportunity to take part in the internship program offered at GID. Despite having to transition to a virtual internship, Kristina's learning and overall experience was not at all compromised. With special thanks to her coach and mentor, Mike McMahon and Sabrina Sanders, Kristina learned so much and developed skills she is excited to carry forward in her career
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Student Internship Highlight - Situs AMC
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This summer, Anthony Riccio, a rising junior studying real estate, had the amazing opportunity to intern with Situs AMC, a commercial real estate valuation company, located in New Jersey. After a brief introductory period, he was placed on the JPMorgan team where he gained a deeper understanding of the valuation process across all asset classes while also focusing on multifamily and industrial properties.
Situs's intern process is highly educational and very exciting. They offer an extended internship program in which students can take a semester off from school and work in a real-world environment through the summer months, thus providing time for more experience. Anthony was able to sit in on calls with JP Morgan and their team where he gained tremendous insight into how Situs AMC model changes in their assets based on varying factors in the marketplace. He was also able to see the values of the assets change over the 8 months and gained an understanding of how the different asset types reacted to various market conditions.
Anthony values his education at UConn tremendously and is very excited to get into the core classes this year. However, he can't adequately express the positive impact this internship had. It was invaluable to take time outside of the classroom to get real world experience with an amazing team in a highly respected, global organization. He would highly recommend that future students in the Real Estate program, if given the opportunity, take advantage of internship programs at Situs or with similar corporations. That said, he will forever be grateful for this experience. He now has a practical base from which to launch his real estate career once he has achieved educational goals here at the University of Connecticut.
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Summer Internship Highlight - Zarrella Group
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This summer, Sophomore, Rich Santana has been interning on both the commercial and residential side of real estate with The Zarrella Group at Coldwell Banker.
Rich has been working directly with realtor, Stephanie Zarrella, who also runs her own family demolition company. More so, Rich has seen her many connections with developers, investors, owners of commercial property across Connecticut.
Rich has learned much in the value in establishing relationships, putting together proposals, CMA's, Commercial leases, listing/showing appointments, etc. He is anticipating getting his Real Estate salesperson license by August and will continue to work with the Zarrella Group throughout the school year!
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The Center for Real Estate and Urban Economic Studies has many students who have received full-time or internship placement for 2020, and are still in the process of placing others. Real estate students have or are in the process of completing what many consider to be one of the best academic real estate programs in the country.
To date 2020 student full-time and internship placement real estate firms include the following: AEW, Boston City Properties, Berkshire Hathaway, Buzzuto Group, CBRE - Hartford, Cushman & Wakefield, DCL, E Quality Valuation Services, Goedecke, GID, Horvath & Trembley, Greystar, Jones Lange LaSalle, Kairos Investment Management, Liberty Bank, Neighborhood Housing Services, Newmark Knight Frank, Northmarq, People's United, Redstone Equity Partners, SitusAMCE, Stone Harbor Capital, Sullivan & Hayes, The Zarrella Group, UBS Realty Investors, LLC and Walker & Dunlop
The Center offers a Resume Book accessible online. You are welcome to register your company's profile on the system. Upon completion, you will receive an email confirming your registration. For more information about the process, please email Debbie Philips and your request to debbie.philips@uconn.edu.
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