Job Description: Real Estate Acquisitions Intern
Company: Three Pillar Communities
Industry: Real Estate Private Equity
Start date: May 2022
Three Pillar Communities is a Top 50 owner, operator, and developer of manufactured housing communities (AKA mobile home parks) and RV parks in the United States with a portfolio value of over $300M. We are a young, entrepreneurial, fast-growing company. Founded in 2017, we have grown quickly, and we now operate 43 communities in 9 states serving 8,000 residents. We are a vertically integrated company with over 60 employees creating value through property acquisitions, property management, and manufactured homes sales.
Our asset class—manufactured housing communities—has shown stellar performance during the COVID pandemic. Demand for high quality affordable housing far exceeds supply, and we see that trend continuing in the decades ahead. We are bullish about our growth prospects, both near-term and long-term, and we are therefore looking to expand our team by hiring a Real Estate Acquisitions Intern.
- Class of 2023 or 2024 preferred.
- Start date is May 2022.
- The internship is for 10 weeks. The intern will work 40+ hours per week.
- The intern will be a member of our Real Estate Acquisitions team, reporting to our VP of Acquisitions.
- At the end of the internship, for the right candidate, we may offer the intern a full-time or a continued part-time opportunity during the school year. with the potential for equity upside down the road.
- Pay is $17 per hour during the internship.
- Location: Work from home (WFH) / remote. Our preference is for candidates based in the Western U.S or working West Coast hours.
- We are a young company. We have grown quickly by being scrappy, having a lot of hustle, and not being scared to dive into challenges and figure them out as we go.
- We are values-driven. You can see our values here: https://threepillarcommunities.com/our-values/. These are our core values and they guide every decision we make.
- We have a two-part mission: to deliver safe, reliable housing to our Residents and safe, reliable returns to our Investors. We care about making money, and we also care about our social impact. To succeed, we need to excel at both.
- Because we are a small team and a young company, you will never wonder, “Is my work making a difference?” Our acquisitions team currently consists of the company’s two co-founders (Daniel Weisfield and Yoel Kelman), a VP of acquisitions, and an acquisitions analyst (a 2022 college graduate). As an intern you will be working directly with the company’s co-founders to make investment decisions, raise equity and debt, and close multi-million dollar deals.
We have a strong pipeline of investment opportunities, so we are seeking an intern to help us analyze investment opportunities, conduct due diligence, recommend investment decisions, and execute on deals.
- Analyze manufactured housing community investment opportunities in various markets in the United States, including market-level and property-level due diligence
- Assess market quality, conduct market rent studies, analyze historical financial statements and rent rolls, etc.
- Develop property-level business plans
- Build project pro formas in Excel, based on historical financial performance and forward-looking projections
- Assess property-level cap ex needs and solicit bids for capital projects
- Solicit loan terms from our commercial real estate mortgage lending partners
- Communicate our investment thesis and business plan by writing investment offering memoranda for our equity investors
- Move transactions from “investment green light” to closing by working with title, escrow, lender, insurance, and legal to coordinate the moving parts of a live deal
- College senior or recent graduate
- Strong academic performance (minimum 3.5 GPA)
- Relevant coursework in finance, accounting, data analysis, or real estate
- Strong skills in Excel. We will ask candidates to do a financial analysis exercise in Excel as part of our evaluation process.
- Excellent written and oral communication skills
- A self-starter, roll-up-your-sleeves attitude with a strong sense of urgency
- Strong attention to detail
- Ability to thrive in a lean, entrepreneurial, fast-paced environment
- Passion for learning and growth with a mindset that no task is too small
- Proficiency in Microsoft Excel, Word, and Powerpoint
- Willing to work long hours with the team when needed. We work early and late when needed and the right candidate will too.
How to apply
Please apply online at https://forms.gle/TpsaTajqF7Lkt4Hr8