Commercial Real Estate Intern to Full-Time Analyst
United Growth Capital Management | San Rafael, CA | Full-Time
About United Growth
United Growth is a boutique commercial real estate private equity firm headquartered in San Rafael, CA, specializing in the acquisition and management of necessity retail shopping centers and the development of single-tenant net lease retail properties nationwide. We manage approximately $250 million in AUM across two equity funds and are actively fundraising our third fund, with plans to launch additional investment vehicles over the next 18 months. Our team operates with broad individual ownership and direct access to firm leadership.
The Role
We are looking for a motivated and detail-oriented intern with an interest in pursuing a career in commercial real estate to join our team for an initial three-month period, with a clear path to a full-time Analyst position for the right candidate. The ideal candidate will be a spring 2026 graduate, as we intend to extend a full-time offer to begin immediately upon successful completion of the internship. This is a hands-on role in a small, collaborative office environment where you will contribute across investor relations, portfolio management, asset management, and development/acquisitions support from day one. You will learn by doing — working directly alongside senior team members and taking on meaningful responsibilities early.
Candidates are asked to send a short introduction email explaining their experience and interest in the position and commercial real estate to nate@unitedgrowth.com to be considered. Applications without email will be less likely to be considered.
Responsibilities:
Investor Relations & Fund Administration
- Support LP onboarding, respond to investor inquiries, and maintain investor databases and CRM systems
- Assist with the preparation and distribution of quarterly reports, investor updates, capital call notices, and tax documents
- Update fundraising materials, one-pagers, and marketing decks for ongoing Fund III capital raise and future vehicles
- Help coordinate due diligence requests from prospective institutional and high-net-worth investors
Portfolio & Asset Management
- Support fund-level financial modeling, valuations, and portfolio reporting using Excel
- Assist with hold/sell analysis, cash flow modeling, and performance tracking across a portfolio of retail shopping centers
- Help prepare materials for internal investment committee review and asset-level business plan updates
- Assist the asset management team with lease administration, vendor coordination, and routine capex projects
Acquisitions & Development Support
- Support the acquisition and development team with project tracking, communications with general contractors, and coordination with local municipal bodies on permitting and entitlements
- Assist with underwriting and deal evaluation for new acquisitions and development projects as needed
Qualifications
- Bachelor’s degree in real estate, finance, business, economics, or a related field (completed or in progress)
- Spring 2026 graduate preferred
- Foundational understanding of commercial real estate concepts — cap rates, NOI, DCF, NNN leases, balance sheet, income statement, and basic investment analysis
- Strong Excel skills; prior financial modeling experience preferred
- Excellent written and verbal communication skills; client-facing experience a plus
- Self-starter mentality with high attention to detail and ability to manage multiple tasks in a fast-paced environment
- Ability to commute to San Rafael, CA four days per week
- Prior experience in commercial real estate, finance, brokerage, investment, or a related field is strongly preferred
- Experience with Argus Enterprise is a plus, but not required
- Adaptability to learn new programs, including various real estate-related software applications (e.g.DealPath, Costar, Yardi, PayScan, AI applications, etc.).
What We Offer
- Internship paid hourly, with compensation commensurate to experience.
- Direct exposure to all facets of a growing real estate private equity platform — IR, asset management, portfolio management, and development
- Hands-on learning environment with mentorship from senior team members and direct access to firm principals
- Clear path to a full-time salaried Analyst position following a successful internship at the end of the three months.
Questions and inquiries are welcome. Reach out to nate@unitedgrowth.com for more information.