Who did you meet with today?

Dena Harte (Senior Vice President/ Team Lead)

Simon Wu (Vice President /Income Property Group)

Where do they work? What does the company do?

They work at City National Bank which is a larger bank that works with both private companies but also people like me and you. They are part of the company that I got to talk to today. They are focused on the real estate side, meaning that they look at a property to see if they are income producing and what they might not be best fit for the bank.

What did you learn today? What were some highlights?

Some of the things I learned today include that after COVID, both malls and offices have become significantly less productive in finding tenants, resulting in many being left vacant. I also learned how banks evaluate real estate; the concepts of Class A, B, and C properties were clarified for me. I had heard these terms throughout the internship but could never really visualize them. However, the presentation they shared with us was very helpful in this regard.

What insights did you gain into the field of real estate development? 

Some of the insights I gained from the presentation were about how important the surrounding area can be when evaluating real estate. For example, if I were to open a pizza place, having a Costco nearby might not be viewed favorably by a bank. Understanding these factors is crucial, as they can impact the likelihood of attracting tenants. I learned that this consideration is a significant aspect of entering the real estate market

What did you find the most interesting about the field after today?

One thing I found interesting about the field is just how much work goes into all aspects of the business and the property.

📸Estrellita Segundo