John Baizer '19

Internship with Ryan Companies

This summer, I worked in the Real Estate industry as a development intern for Ryan Companies in Austin, Texas. Ryan Companies is a national commercial real estate company, based in Minneapolis, that specializes in both development and construction. My primary duty was to support senior developers by providing quantitative analysis and market research. This entailed working on equity packages and financial models for deal pursuits and equity raises. I also provided market comps analysis for multifamily (apartment) projects in Dallas and Houston meaning, I researched and analyzed similar apartment buildings to see the rents they were charging to get a better idea of what we should charge. This is an important part for a multifamily financial model as the better the rent estimation the more realistic the model is. I also created a multifamily comps model from scratch in Excel and used it to increase the underwriting accuracy of potential deals. My final project for the internship was completing a holistic analysis of the Austin multifamily market to see whether Ryan Companies should be developing apartment buildings in Austin, and if so, where. After a month or so of compiling my research and data, I presented it to the entire development team as well as the regional president. While this was a Real Estate internship, many of the skills I've learned and improved upon in Geology assisted me as Real Estate is like Geology in the sense that it deals with real, tangible objects making it important to be able to visualize and analyze these objects while sometimes never actually seeing them in person.