Liberal Arts Career Services
Liberal Arts Career Services

Virtus Real Estate Capital

Spring 2016 

Position: Asset Management and Acquistion Intern
Student: Economics Senior

Virtus Real Estate Capital is a real estate private equity firm focused on acquiring targeted recession resilient real estate asset types. Virtus raises private equity through a variety of capital sources and then deploys that capital in opportunistic and core plus acquisitions to assemble a well hedged portfolio of real estate assets. Virtus does not operate commercial real estate properties, but rather is a capital provider for operating partners.

Virtus employs interns to work within a business unit: healthcare, self storage, alternative multifamily, or student housing on acquisitions, asset management, or both. I worked in both asset management and acquisitions within the healthcare business unit, so I will speak to the responsibilities of that position.

The healthcare business unit includes acquisition and management of senior living and medical office buildings. The first skill that every intern should possess prior to joining Virtus is proficiency in Microsoft Excel. More of your time will be spent on excel than any other software. You should be comfortable putting together pro forma financial statements, analyzing financial return metrics, and building in sensitivity analyses for potential acquisitions.

On the asset management side, you will be doing the same thing except that you will be dealing with actual financials rather than pro forma financials. Interns are also responsible for conducting market analysis for potential acquisitions and current assets. Market studies will look at demographics, supply, demand, regulatory barriers, etc. and have the goal of assessing the viability of a given market as well as understanding the subject property’s position within the market. Finally, interns are responsible for other ad hoc analyses related to a given subject property. These include everything from variances to business plan, macro-level research on a given property type, reporting operator sales effectiveness, etc.

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    University of Texas at Austin
    FAC 18
    2304 Whitis Ave. Stop G6200
    Austin, Texas 78712-1508