Job Description

Blue Heron Summer Intern - Acquisition/Asset Management or Development

**Please see the application requirements at the end of the job description**

Blue Heron Asset Management, LLC is an equal opportunity employer.

About Blue Heron

Blue Heron Asset Management, LLC is a private equity real estate investment management and development firm based in Raleigh, North Carolina. The firm seeks to achieve superior risk-adjusted returns within well-balanced and actively managed investment funds with a primary focus on multifamily and mixed-use acquisition and development in high-growth southeastern markets with a concentration in Raleigh-Durham and Charlotte.

Role Overview

Blue Heron is looking for motivated and collaborative candidates to join our investment team as paid, full-time interns for the summer of 2025. The positions will be in-person at Blue Heron’s Raleigh, NC office. The interns will participate in several aspects of real estate investment analysis, including underwriting potential investments, conducting market research, and supporting ongoing investment activities for ground-up development and existing multifamily properties owned by Blue Heron.

Key Responsibilities - Acquisitions & Asset Management Intern

This position will report to the Director of Acquisitions & Asset Management. Occasional travel to Blue Heron properties may be required during the course of the internship including overnight travel.

Real Estate Investment Team Support

• Assist in underwriting potential real estate investments including acquisitions of multifamily and mixed-use properties and ground-up development projects
• Participate in due diligence of potential acquisitions and ground-up developments
• Attend weekly investment team meetings and assist in the preparation of memorandums and analyses

Asset Management Support

• Assist in the asset management of ongoing operations for existing multifamily properties
• Participate in regular asset management calls with onsite property management teams at portfolio properties
• Assist in weekly operating report reviews and analysis
• Assist in creating and maintaining operating and financial data dashboards
• Research submarket dynamics, competitive property rents, and relevant transactions
• Assist with quarterly asset reporting and other investor communications and marketing documents

Key Responsibilities - Development Intern

This position will report to the Director of Development & Construction Management. Occasional travel to Blue Heron properties may be required during the course of the internship including overnight travel.

Underwriting, Financial Analysis, & Deal Structure

• Assist in analyzing various deal structures, capital sources, and deal return metrics.
• Assist in underwriting potential real estate investments focused on ground-up development opportunities.
• Research submarket dynamics, competitive property rents, and relevant transactions.
• Tour targeted submarkets and peer properties as required.
• Assist in the preparation of investment memoranda for Investment Committee and participate in weekly Investment Team discussions.

Due Diligence and Entitlements

• Assist in the evaluation of potential development sites for suitability to support multi-family or mixed-use projects, including: Physical due diligence of property; Parking and multi-family unit yield; Zoning, UDO, and other local requirements; Availability of utilities; Proposed product type and construction costs; Debt availability and terms
• Participate in meetings with deal partners, authorities having jurisdiction, lenders, attorneys, consultants, contractors, property managers, and other development project stakeholders.

Design and Construction

• Assist in brand development, defining project aesthetics, and related market research.
• Assist in management of design, approvals, and construction processes including schedule, budget, and approvals.
• Attend construction meetings and perform site visits as required.
• Assist with documentation of construction progress and meetings.
• Participate in the assembly of monthly construction loan draw packages.

Ideal Candidate Qualifications

• University undergraduate with a course of study demonstrating technical proficiency, including Real Estate, Business Administration, Finance, Mathematics, Engineering or a related field. No real estate or investment experience is required to be considered for the position.
• Appreciation for Blue Heron’s guiding principles: Accountability, Curiosity, Integrity, Respect, and Stewardship.
• Motivated team player able to take initiative and work independently, as well as work collaboratively in a team setting.
• Analytical, with good problem-solving skills and attention to detail.
• Organized and adaptable, with the ability to respond to changing tasks and priorities.
• Good written and verbal communication skills and ability to communicate with other professionals outside of the firm.
• Proficiency in Microsoft Excel. Experience with data modeling tools is a plus.
• Candidates must be legally authorized to work in the U.S. Blue Heron does not currently sponsor employment visas.

To Apply

Provide a copy of your resume and written responses to the following questions, each in PDF format:

• Are you interested in the Acquisitions & Asset Management Internship or the Development Internship?
• Why are you interested in interning in the Raleigh-Durham, RTP area? If you have ties to the area, please include them in your response.
• Why would you want to intern at Blue Heron Asset Management rather than at the other intern opportunities you may have?

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