Waterford Property Company
Intern

Position Title: Intern
FLSA Status: Exempt
Department: Multifamily Acquisitions, Asset Management, Development
Pay Range: TBD
Reports to: Cole Tait (Associate)
Work Schedule: Flexible, 15-30 hrs / week
Location: Newport Beach, CA (in-person)
Send Resume and Cover Letter to: ctait@waterfordco.com Company Overview:

Company Overview: Headquartered in Newport Beach, CA, Waterford Property Company (“Waterford”) is an experienced owner, operator, and developer of multifamily, office, and retail real estate assets across California. Since its founding in 2014, Waterford has acquired over $2.8 billion in real estate assets.

Since 2021, Waterford has closed and acquired over $2 billion across 15 institutional-level multifamily communities (4,014 units) in California through the middle-income housing program and works closely with partners at firms such as Goldman Sachs, Eastdil Secured, and Greystar to ensure the success of each acquisition.

Why work with us? We are a specialized group of real estate professionals with an expansive knowledge of various aspects of the real estate investment industry, as exemplified by our portfolio spanning across various asset types. We are growing quickly to serve our core mission of solving the California housing crisis, and are looking for prospective team members who are aligned with our core mission and are passionate about developing their careers in real estate.

Job overview: We are looking for a current undergraduate college student to join our dynamic team as an intern to primarily assist with our multifamily acquisitions, asset management, and development operations. Responsibilities will include managing various reports, assisting with acquisition underwriting in Microsoft Excel, conducting market research, accompanying team members on property and site tours, sitting in and taking notes on calls and meetings, and assisting with creating pitch decks in Microsoft PowerPoint, among other miscellaneous responsibilities. From this, the intern will gain: a) fair compensation, b) an increased knowledge of the real estate industry, and c) powerful technical and soft skills that will support their career’s future success. We are seeking a candidate who is passionate about gaining first-hand knowledge of institutional real estate markets; in order to give the best learning experience we can, we expect the intern to be willing to work in-person at our Newport Beach, CA office.

Essential Functions/Responsibilities:

• Manage various multifamily reports, including (but not limited to) asset management reports, underwriting trackers, and weekly property performance box scores.
• Accompany team members on property and site tours.
• Assist with the underwriting of potential acquisitions.
• Organize data surrounding potential acquisitions and competitor transaction history. • Suggest ideas on improved methods of organizing information and displaying data. • Conduct market research utilizing CoStar and other online resources.
• Assist with updating and creating slides for pitch decks on PowerPoint.
• Read assigned reading and stay updated on current market trends.
• Work in-person at our Newport Beach, CA office.

Education and/or Experience Required:

• Pursuing Bachelor’s Degree and 0.5-2 years of related experience

Skills and Abilities:

• Current junior undergraduate student at an accredited four-year institution.
• Strong interest in institutional-level real estate investment acquisitions, asset management, or development as a career, and the ability to explain why.
• Basic understanding of real estate investment and finance concepts including (but not limited to) NOI, Cap Rates, and IRR.
• Exceptional knowledge of MS Word, PowerPoint, and Excel.
• Excellent organizational skills and attention to detail.
• Ability to think critically and creatively.
• Excellent oral and written communication skills.
• Willingness to take a real estate-specific financial modeling course and complete required reading.
• Experience with CoStar is a plus.

Competencies:

All employees, in performing their respective tasks and duties, are to perform quality work within deadlines, with or without direct supervision; interact professionally with other employees, customers, and suppliers; work effectively as a team contributor on all assignments; and work independently while understanding the necessity for communicating and coordinating work efforts with other employees and organizations.

Customer Service - Manages difficult or emotional customer situations; responds promptly to customer needs; solicits customer feedback to improve service; responds to requests for service and assistance; meets commitments.
Interpersonal Skills - Maintains confidentiality; listens to others without interrupting; keeps emotions under control; remains open to others' ideas and tries new things.
Oral Communication - Speaks clearly and persuasively in positive or negative situations; listens and obtains clarification; responds well to questions; participates in meetings.
Written Communication - Writes clearly and informatively; edits work for spelling and grammar; able to read and interpret written information.
Teamwork - Exhibits objectivity and openness to others' views; gives and welcomes feedback; contributes to building a positive team spirit; puts success of team above own interests.
Professionalism - Approaches others in a tactful manner; reacts well under pressure; treats others with respect and consideration, regardless of status or position; accepts responsibility for own actions; follows through on commitments.
Language Skills - Ability to read and interpret documents such as safety rules, operating and maintenance instructions, and procedure manuals; ability to write routine reports and correspondence; ability to speak effectively before groups of customers or employees of organization.

Working Conditions:

Physical Demands

The physical demands described here are representative of those the employee must meet to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job, the employee is regularly required to stand; walk; climb stairs; sit; use hands-to-finger, handle, or feel; reach with hands and arms and talk or hear. The employee is occasionally required to stoop, kneel, or crouch.

Work Environment

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Employee’s activities are exclusively limited to general office work (such as bookkeeping, data processing, and record keeping) and have no regular duties of any other nature, and unless working from home are never physically separated from the employer’s operations by building, floors, partitions, railings, counters, etc. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The noise level in the work environment is usually moderate. Waterford is open to finding an employee who wants to work full-time from home for the foreseeable future, but we anticipate that this role will have some days needed to be physically located in our office space for meetings, etc.

The above statements describe the general nature and level of the work being performed for this position and are not an exhaustive list of all duties and responsibilities. Waterford Property Company’s management team reserves the right to amend and change responsibilities to meet business and organizational needs.