Lupas: Asana solidified my interest in CRE and expanded my technical skillset

The Wood Center amplifies the voices of students taking part in real estate-focused summer experiences in a student-produced series called Internship Reflections. Hear first-hand about the amazing professional development, project sites, and real-world real estate opportunities these students are being exposed to.

By Gracie Lupas

For the past two summers, I interned with Asana Partners on their investments team at the firm’s headquarters in Charlotte, North Carolina. Asana Partners is a vertically integrated retail real estate investment firm committed to creating value in dynamic and vibrant neighborhoods across the United States. On the investments team, I had the opportunity to contribute to a variety of multifaceted projects and take on responsibilities within the team’s daily operations. Primarily, I gained competence in the preliminary financial underwriting process of prospective investments and supported the team in various due diligence, research, and execution duties for active investment opportunities.

A specific project I assisted with over the summer was building a transitional climate risk management tracker by analyzing building performance regulations at both the municipal and state level. The project’s purpose included consolidating information on reporting thresholds, requirements, and potential fines and identifying assets that required compliance. The product provided asset managers with the necessary information to ensure portfolio compliance across the various climate requirements, including benchmarking, audit, retro-commissioning, and building performance standards. While my primary role was in acquisitions, through this project, I learned that climate risk management has become an increasingly pertinent component in the daily role for both asset management and acquisitions teams across the nation.

These opportunities in combination allowed me to work closely with various teams within the firm and develop a comprehensive understanding of how I can apply the knowledge from these interactions to my final year in college. My training in the financial underwriting process has significantly augmented my grasp of the real estate and finance coursework at UNC, allowing me to integrate practical examples from my internship into my studies. Further, learning about evolving sustainability requirements, asset management, development practices, market-specific nuances, and leasing logistics has reshaped the way in which I approach avenues in my daily life. Overall, the technical and qualitative skills gained from my internship have provided me with a more informed perspective, and as I enter the final year of my academic journey, I am eager to apply these insights and skills to my remaining coursework and future career.

Ultimately, my time with Asana Partners truly solidified my interest in commercial real estate. The hands-on experience across various facets of the business has been invaluable, enriching both my experience in the classroom and broader prospective on the industry’s impact. The past two summers have deepened my appreciation for the complexity and significance of commercial real estate, highlighting its influence on economic and community development. Upon graduation in the spring, I am excited to re-join Asana’s investments team full-time to build on this experience.