<aside> 🦙 Alpaca Real Estate

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<aside> ➡️ APPLY HERE

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About Alpaca Real Estate

Alpaca Real Estate (“ARE”) is an innovative real estate private equity platform based in New York and anchored by a group of prominent U.S. pension funds. Real Estate PE veterans, Dan Carr (formerly Ares) & Peter Weiss (formerly Prospect Ridge / AllianceBernstein), co-founded the strategy with Ryan Freedman & Daniel Fetner.

ARE is purpose-built to capitalize on today’s volatility with a clean slate and a differentiated approach. We combine proven investment acumen with modern technology and AI to gain an edge in sourcing, underwriting, and execution. Investment focus is on residential and industrial asset classes and will be executed through distressed investments, recapitalizations, and structured development transactions. Founding partners have led 100+ transactions and deployed $3B+ of equity.

Role and Scope

The intern candidate will work directly with both real estate partners as well as with investment associates and support staff across the organization.

• 50% = Investments. New deal focused, calls w/ sponsor, leading diligence, conducting market research and underwriting, drafting investment memos, sitting in on our investment team meetings;
• 25% = White paper / macro research. You will be responsible for one white paper, which will consist of either conducting an industry deep-dive in a sector OR developing a value-add climate and technology stack for an individual real estate asset class;
• 15% = LP Fundraising/IR support. We are in the market with a new fund and from time to time will be given projects related to answering questions for prospective LPs and helping buildout IR materials;
• 10% = Ops support. Miscellaneous day-to-day fund operations

This role will be based in New York City, with a portion of in-office time in ARE's Manhattan office preferred.

The Ideal Candidates For This Role Are

We are open to both first-year and second-year graduate students currently pursuing an MBA or a Master’s in Real Estate.

• For first-year students, we strongly prefer candidates who are able to continue full-time through the summer, creating continuity across the spring and summer terms.
• For second-year students, the spring MBA Associate role is structured as a four-month, hands-on interview for a potential full-time Associate position in real estate private equity, contingent on performance and mutual fit.

Additional qualifications include candidates who are:

• Experienced in the real estate industry, such as real estate investment banking, private equity, development, or asset management;
• Comfortable underwriting real estate investments;
• Willing to dedicate significant time and effort to the MBA Associate program; and
• Curious about innovation in the real estate industry.

We like to be upfront: this program is time-intensive and demanding. We recommend that candidates do not have major extracurricular commitments outside of Alpaca during the program period.

We offer a dynamic and collaborative work environment, exposure to real estate private equity and venture capital, and limited compensation. There is a strong preference—and meaningful opportunity—for the role to extend beyond the spring term, assuming strong performance and mutual interest.

Disclaimer: Alpaca Real Estate Management LLC is an affiliate of Alpaca VC Investment Management LLC, a U.S. Securities and Exchange Commission registered investment adviser. Alpaca Real Estate Management LLC is an equal opportunity employer that is committed to diversity and inclusion in the workplace. We prohibit discrimination and harassment of any kind based on race, color, sex, religion, sexual orientation, national origin, disability, genetic information, pregnancy, or any other protected characteristic as outlined by federal, state, or local laws.

Join our team and contribute to the future of real estate private equity—combining institutional depth, modern tech, and a relentless drive to capture opportunities in a changing market.

Please apply using the link at the top left of this page.