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 Vijay Mishra
This summer, I had the incredible opportunity to intern at Welltower, a REIT that invests in healthcare infrastructure, multifamily, and single-family asset classes. The connections and support I received from the UNC real estate community played a pivotal role in securing this internship, for which I am deeply grateful.
At Welltower, I served as the summer associate on the development team. I worked closely with the investments team on several impactful projects, particularly in the single-family rental (BTR) sector across the US. I was involved in underwriting and analyzing development deals from pre-development through construction, contributing to the closing of approximately $100M worth of transactions. This hands-on experience allowed me to apply the knowledge I gained during my first year at Kenan-Flagler in a meaningful way.
The real estate-focused courses I completed at UNC, such as “Cases in Real Estate” and “Real Estate Construction” were instrumental in preparing me for this role. These classes provided a solid foundation in real estate finance, development processes, and project management. I found myself frequently drawing upon the principles and strategies learned in these courses as I navigated the complexities of the projects at Welltower. Whether it was understanding construction timelines, managing budgets, or preparing materials for investment committee meetings, the academic rigor at UNC set me up for success.
In addition to technical skills, the internship provided significant professional growth opportunities. I had the chance to travel to various sites, including a memorable trip to Denver, where I participated in on-site walkthroughs and discussions with general contractors and development partners. These experiences were invaluable in deepening my understanding of the real estate development process and honing my ability to make informed investment decisions.
One project that particularly stands out was a 96-unit new build acquisition in Daytona Beach, Florida. Working on this deal enhanced my analytical abilities and provided a comprehensive understanding of the decision-making process behind acquiring performing assets versus new developments. This practical experience has given me greater clarity on the type of work I want to pursue post-graduation.
Overall, my internship at Welltower has been a transformative experience. It not only reinforced my passion for real estate but also allowed me to witness the power of the UNC network in action. I am incredibly thankful for the opportunities provided by the real estate department and its alumni. The combination of classroom learning, and practical application has equipped me with the tools and confidence to succeed in the real estate industry, and I am excited to continue building upon these experiences in the future.