Checking in with Pine Tree's Summer 2022 Interns

Pine Tree hosted four interns for the 2022 summer season – our biggest intern class yet! With interns in Accounting, Asset Management, and Marketing, we’re?proud to introduce these incredibly talented individuals to the world of retail real estate and be a part of their journey in shaping the future of the industry. ?

As their internships come to a close, we were curious to see what they have learned and what advice they might have for the 2023's class.??

Describe your internship.

Trevor Cabanban (Asset Management): "The asset management team works with multiple departments to build and maintain property values. The need for collaboration with other positions has allowed me to work with property managers, acquisitions, and other analysts."

Declan Helm (Asset Management): "I’ve been gathering information on tenants and shopping centers while learning how to maximize profit. Some of the reports I’ve been running include cash flow, sales, and rent rolls. I've also been reviewing a lot of lease documents."

Reyna Zuno (Marketing): "I help facilitate projects related to brand strategy, social media, and design for the marketing team, for both their corporate marketing side as well as on a property level."

Nathaniel Schmitt(Accounting): "I’ve been steadily working my way around the entire accounting department, getting a taste of each little team and what they accomplish. My main goal is to absorb as much as I can about the different accounting procedures in retail real estate and to use what I’ve learned to help myself excel back at school."

What have you learned so far?

Trevor (Asset Management): "I have learned a lot of industry language since the start of my internship. It’s?surprising that the jargon for the retail real industry is so vast. I also am very surprised about how many moving parts go into acquiring and maintaining a shopping center."

Declan (Asset Management): "I have learned a lot of real estate language in addition to some important excel formulas."

Reyna (Marketing): "I've learned about brand marketing and how it's super important to be accurate and concise when carrying out any marketing projects – it affects a brand’s reputation."

Nathaniel (Accounting): "One of my favorite lessons I’ve learned so far is to never shy away from asking someone for help. The way we’re taught accounting in school is very focused on individuality – there isn’t any group work – so it’s a great change of pace to be working with such a collaborative group that wants to answer my questions and help me learn the ropes."

Who have you worked with that has been helping/you look up to?? ??

Reyna (Marketing): "I've been working with the entire marketing team. I've had the opportunity to work closely with Graham (Grochocinski), Arletta (Gromek), and Kerri (Wallace) on different projects anywhere from social media to digital strategies for tenants, as well as designs for content creation and company resources. I look up to Graham, I've learned a lot about how branding is a huge part of the reason that a company flourishes and I could not agree more. He has been super helpful and is easy to communicate with making my time here at Pine Tree something to remember for the rest of my career."??

Nathaniel (Accounting): "Everyone in the accounting department has been so welcoming and helpful, and I can’t begin to explain how much I appreciate that. So far, I’ve worked with Jacob, Ken, Kim, and Carrie M. on a few projects, and I’ll continue to make my rounds and collaborate with more members of the accounting team in the upcoming weeks!"

Declan (Asset Management): "I have worked closely with the whole asset management team already and I have learned something from each of them. Zach Fleisher has been a big help with any excel questions, and Zach Eltorai has helped a lot with many of my real estate questions. It is awesome to have a team who can help me with any questions I have and push me to work efficiently at the same time."

Trevor (Asset Management): "I have worked with multiple members of the investment team. Zach Fleisher has been a big help during this internship. His expertise in Microsoft excel has helped me learn and navigate spreadsheets effectively."

What project are you working on? ?

Nathaniel (Accounting): "I am currently working on consolidating some data from our latest utility invoices to help get a tenant's service up and running. I'm planning on working with Accounts Receivable sometime this week."

Reyna (Marketing): "I'm currently working on multiple projects. I'm working with Arletta on a social media campaign to get to know more about the people who help make Pine Tree so special. I'm also working with Graham on designing an infographic we'll be including in our Tenant Welcome Kits. I'm also working on digital marketing audits with Kerri for a few properties in the Western US."

Declan (Asset Management): "Right now, I am working on a summer-long internship project where my assignment is to sort out around 60 of our properties and find how much work each property needs. Then I need to pick three of those properties and make a SWOT analysis and a VOID analysis with the corresponding asset manager and present it to our AM team/Pine Tree leadership. In addition to this project, I have been working with the AM team on many projects from putting together spreadsheets of a list of our competition to running rent rolls and cash flow analysis."

Trevor (Asset Management): "I am currently working on my main summer intern project. I must evaluate 57 properties and place them in 3 categories. Then I must pick 3 properties and propose ideas based on research and how to add value to the property." ?

What have you learned that surprises you about the retail real estate industry? ??

Declan (Asset Management): "One thing that I have learned throughout this internship is that the business world is VERY small. I continue to see the same names/properties in many different places."

Trevor (Asset Management):?"The process and jargon used throughout the retail industry can be extremely vast and complex. I am constantly being surprised at how many moving parts there are to property management and acquisition."

Reyna (Marketing): "Retail real estate has a lot of components that can make it such a complex industry. People and communication matter most in this industry."

Nathaniel (Accounting): "I think it's interesting that brick and mortar stores have some tough competition in the form of e-commerce businesses like Amazon, so the retail real estate industry must continue to find ways to adapt."

What advice do you have for the next class of Pine Tree interns??

Reyna (Marketing):?"Don't be afraid to ask a lot of questions to gain more knowledge about the field you want to work in. You're not only helping yourself, but you're helping the company so you can gain more insight about what it is they need and want."

Trevor (Asset Management): "Some advice I would have for the next Asset Management intern at Pine Tree is to brush up their skills with (Microsoft) Excel. Excel is something that we have used for every project. I would also recommend taking notes during meetings and calls. A lot of information is being said and there is a lot to learn."

Declan (Asset Management): "Some advice I would give for the next asset management intern here at Pine Tree would be to soak in all the information – no matter who you hear it from. I have learned that everyone here has a different background, and I have picked up some information from all of my co-workers. Come in with a good attitude and be ready to learn because your experience is what you make of it."

Nathaniel (Accounting): "The best advice I have is to ask a ton of questions! It’s important to keep in mind that this whole experience is meant to help us interns learn as much as we can. Everyone at Pine Tree has been extremely helpful, since day one it’s been clear to me that everyone wants to help me learn and succeed. To get the most out of this internship, it’s important to be like a sponge and absorb as much as you can!"?