Real Estate Development Internship Jobs in Gary, IN

About the Role

Murphy Real Estate Services (MurphyRES), a Chicago-based real estate development and asset management firm, is seeking a Real Estate Analyst to join our team. This is a hands-on, high-visibility role that combines asset management with acquisitions and development underwriting. The Analyst will own the day-to-day asset management of a triple net portfolio, build and maintain the debt books for our financed assets, and support the underwriting of new acquisitions and development opportunities. The Analyst will report to the Chief Operating Officer and work closely with senior leadership to refine and execute MurphyRES’s investment, development, and asset management strategies.

Responsibilities

Daycare Portfolio –

Asset Management

• Serve as the day-to-day asset manager for the firm’s daycare property portfolio, acting as the primary point of contact for tenants and operators, third-party property managers, lenders, and vendors.
• Monitor property-level performance, including rent collection, operating expenses, CAM and real estate tax reconciliations, and lease compliance; prepare monthly and quarterly reporting with variance analysis.
• Track critical dates across the portfolio (lease expirations, renewal and termination options, loan maturities, tax and insurance deadlines) and drive the associated action items.
• Support lease renewals, re-tenanting of vacant or transitioning locations, and dispositions, including preparing LOIs, lease abstracts, and marketing materials.
• Coordinate property-level issues (maintenance, capital projects, insurance claims) with property managers, contractors, and tenants, and manage them through resolution.
• Maintain property-level budgets and financial models and update them as actuals come in.

Residential/Hospitality/Industrial -

Underwriting & Acquisitions

• Research market sales comps, rents, construction costs, real estate taxes, and other inputs needed to underwrite acquisitions of existing properties and new development opportunities.
• Underwrite and value potential acquisitions; build pro forma financial models; propose deal structures, including debt and equity options; and evaluate project feasibility and risk.
• Generate return analyses (IRR, equity multiple, cash-on-cash, debt yield, DSCR) for potential investments.
• Evaluate eligibility and competitiveness for various funding sources; review contracts, renewal options, and risks.
• Communicate with brokers, lenders, and investors to confirm underwriting assumptions.

Debt & Financing

• Create and maintain debt books: loan abstracts, key terms, covenants, guaranties, reserves and escrows, amortization schedules, rate resets, maturity dates, and extension options.
• Prepare recurring lender reporting and covenant compliance packages; manage draw requests and reserve disbursements.
• Support financings and refinancings, including assembling lender packages, coordinating third-party reports, and tracking closing checklists.

Qualifications

• Bachelor’s degree in finance, economics, real estate, accounting, or a related discipline.
• 1–3 years of experience in commercial real estate, finance, or a related field (relevant internships considered).
• Advanced Excel skills; experience building and auditing real estate financial models.
• Working knowledge of real estate finance concepts and key metrics (IRR, debt yield, cash-on-cash, DSCR, LTV).
• Familiarity with Juniper Square is a plus but not required.
• Ability to read, distill, and draw conclusions from complex documents and datasets, including leases and loan documents.
• Strong attention to detail, accuracy, and consistency.
• Proven ability to manage multiple projects and meet established deadlines with limited oversight.
• Clear written and verbal communication; comfortable interfacing directly with tenants, lenders, and property managers.

Compensation & Benefits

Base salary range: $75,000 – $85,000, plus a discretionary annual bonus. Benefits include health, dental, and vision insurance, a 401(k) plan (with employer match), and paid time off.