Reports from the National Association of Colleges and Employers (NACE) found that 88% of employers have a formal diversity recruiting effort and 67% have allocated more resources to recruit historically marginalized students. As organizations trend upward in social equity practices, Nareit is committed to fostering a more diverse, inclusive, and equitable REIT and publicly traded real estate industry through its DEI strategic plan.
As part of that plan, Project Destined and Nareit are partnering to kick off a program to help Nareit members identify and hire diverse students for paid summer internships at their companies.
“We are extremely excited to partner with Nareit to provide our community with access to early career opportunities at Nareit member companies,” said Cedric Bobo, co-founder of Project Destined. “This partnership will provide our students with REIT focused training and resources that prepare them to become the next generation of leaders in the industry.”
"Nareit’s partnership with Project Destined helps REITs and publicly traded real estate companies invest in a future generation of real estate leaders,” said Ayris Scales, Nareit senior vice president of social responsibilities and global initiatives. “Our members’ internships will offer critical skills, knowledge, and experience that’s needed to pursue careers in commercial real estate while developing networks that will allow for more inclusion in the industry. We are excited about this partnership and encourage REITs and publicly traded real estate companies to register their interest to participate."
Internship Program Details
Project Destined is a natural partner for Nareit in this initiative. As a leading social impact training platform that specializes in training underrepresented students in real estate and finance, Project Destined will work with Nareit to bring 20 Project Destined students and alums access to paid internship opportunities with Nareit members.
Application Process and Benefits
REITs can indicate their interest in this Nareit program by filling out a short form here. A key benefit of the Project Destined and Nareit partnership is the access that Nareit members will have to the Project Destined Career Platform. This platform enables companies to connect with diverse students from more than 300 colleges and universities.
Once a REIT confirms a summer internship through this program, the company will receive customized talent acquisition resources from Project Destined, while selected students will receive 40 hours of pre-internship training on REIT fundamentals, market research, property analysis, valuation, and financial modeling. Students will begin applying this month for REIT summer 2023 internships.
How The Internship Program Fits into Nareit’s DEI Strategy
One of Nareit’s goals is to increase the REIT and publicly traded real estate industry’s visibility to diverse talent and businesses through its DEI strategic plan, which focuses on people, partnerships, and philanthropy. As a part of that plan, Nareit creates, facilitates, and leads:
- data and research,
- education and training, and
- leadership opportunities.
The Project Destined-Nareit internship program is one of the ways that the REIT industry can introduce members of underrepresented groups to REITs and publicly traded real estate, develop talent, and create a more inclusive industry.
Research from the Community College Review (CCR) shows that students with paid internships gain innumerable benefits, including networking opportunities and increased confidence, knowledge, and job skills. Those benefits extend beyond the internship and into their career. According to the NACE Student Survey Report, paid internships help students in their job search in several ways: they receive more offers, achieve higher starting salaries, and have a shorter search. The survey also revealed that women, racial/ethnic minorities, and first-generation students are underrepresented in paid experiences.
Help equip students with the critical skills, networks, and experience they need to pursue careers in the REIT and commercial real estate industries. Sign up today to register your company’s interest in the Nareit-Project Destined internship program.*
*After the 20 slots offered through Nareit are filled, REITs can directly work with Project Destined to provide additional internship opportunities at their companies to Project Destined students and alums.