2026 Summer Intern, Investments & Portfolio Management

RCLCO Fund Advisors (“RFA”), a division of RCLCO, is a SEC Registered Investment Advisor and leading real estate investment consulting firm that advises some of the world’s largest pension funds, sovereign wealth funds, and institutional investors. Providing tailored investment solutions by leveraging its deep understanding of market dynamics, RFA assists its clients in the implementation of their real estate strategy through the allocation and management of real estate capital across all real estate strategies and property types. RFA currently has approximately $88 billion of assets under advisement and has advised on over $11 billion of equity investments for its clients.

RFA builds upon our decades of experience and renowned expertise in applied real estate analysis to address the important and unique issues regarding real estate investing faced by institutional investors, including:

• Developing strategies that maximize value throughout the cycle through the development and implementation of investment ideas, pacing plans, policies, and risk management systems;

• Providing high quality and forward-looking investment analyses, including review of buildings, separate accounts, and funds and programmatic joint ventures that will provide superior risk- adjusted investment returns;

• Developing and implementing asset monitoring systems that identify and manage risk in existing portfolios on a timely basis to maximize value; and

• Providing strategic thinking regarding investment analyses, portfolio construction, and management through presentations, articles, and custom work for clients.

Position Summary:

RFA seeks qualified Interns for our Investments & Portfolio Management team for summer of 2026. The position will be based in our Los Angeles office. Interns will be provided with a two-week training period where they will learn about the firm, policies and procedures, and basic skills in economic and financial analysis, research methods, and professional writing standards. Each intern will shadow an analyst or associate to perform market research, financial and statistical analysis, underwriting, due diligence, and portfolio management for potential and existing real estate investments. The internship will prepare each intern to independently perform full-time analyst responsibilities such as underwriting potential investments, preparing investment memorandums, and presenting to investment committee members.

Key Job Responsibilities:

• Conduct primary and secondary economic, demographic, and real estate research;

• Support the underwriting process for new investments through financial modeling and market research, including the analysis of economic and demographic trends and the review of cash flow assumptions and the preparation of waterfall structures;

• Research investment opportunities in operating companies, separate accounts, programmatic joint ventures, and funds;

• Review existing assets, including investment performance reporting, hold/sell analyses, compliance reviews, budget reviews, capital plans, restructuring analyses; and

• Prepare reports and presentations to communicate key findings and recommendations to Investment Committee and clients.

Preferred Qualifications:

• Entering senior year of an undergraduate degree program in economics, real estate, finance, economics, or with a demonstrated focus in quantitative analysis in the real estate industry;

• Excellent academic record;

• Ability to structure quantitative and qualitative problem-solving approaches, and attention to detail and accuracy;

• High levels of proficiency with Microsoft Excel, PowerPoint, and Word, and in conducting internet research;

• Excellent written and verbal communication skills;

• Professional attitude; and

• Desire to remain in or relocate to Los Angeles or Denver permanently upon graduation.

Please be sure to indicate your preferred office and report your grade point averages (GPAs) for all relevant academic programs. There will be an opportunity/consideration for those who perform well and excel, to be considered for a potential full-time position upon graduation.

This is a paid internship that runs 10 weeks in length. Compensation is $5800 per month, less required taxes and withholdings.

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Equal Opportunity Employer - RCLCO is an EEO Employer who celebrates diversity - Drug-Free Workplace

RFA is committed to Diversity, Equity, and Inclusion and strives to cultivate a diverse working environment that respects and values individuals from a broad range of backgrounds and experiences.