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Learning the Structure and Involvement of Commercial Bank of California and the Importance of Insurance
Who did you meet with today?
On July 18th, my fellow interns and I met with a variety of different people, each with different roles and careers within Commercial Bank of California. We gained insightful economic and financial knowledge from: Kevin Gonzalez, Tammy Jung, Thomas E. McCullough, Christopher Colella, Richard Cheng, Annie Knyazyan, and Derek (Jongseok) Jeon. Later that day, we also met and had lunch with Greg Martin, PCSD’s insurance agent from High Ground Insurance.
Where do they work? What does the company do?
Commercial Bank of California works closely with business and real-estate. It has many departments with focuses on bank lending, generating revenue or income, maintaining the stability of the bank, and assisting projects or clients to attain their goals while also ensuring the bank economically thrives and does well.
What did you learn today? What were some highlights?
We learned that there are a lot of risks that can occur in banks that can lead to them going bankrupt if the wrong investment or loan is made. As a result, there are lots of rules and regulations in place to prevent that, such as having compliance officers evaluate customers to minimize any risks.
Greg Martin further added to this idea with his career in assisting companies like PCSD to get trustworthy, quality insurance for any potential problem.
Some of the highlights today were gaining new information and general life advice from the people we’ve met. For example, learning about the Community Reinvestment Act from Richard Cheng, a CRA manager at Commercial Bank of California, helped us see that banks do more than just lending or gaining profit. They help the public and meet community needs around the area through this program. It helped us learn that giving back is an important part of life and the community’s overall well-being.
What insights did you gain into the field of real estate development?
My fellow interns and I were able to see the structure of how banks work and why each person and their role is important to making a project or idea work, similarly to the development and process of creating schools. Every role in both business and real-estate development is complicated and intricate, however, the end product is always something to be proud of. We could see that it takes a lot of diligence, hard-work, and passion that’s needed in careers to create a well functioning society.
Did you become more interested in the field after today?
After today, I did become more interested in the real-estate field because it is very diverse with what you could be involved in, whether that’s financially or not. It was a great experience getting to meet with new people and understanding a bit more about what other careers are out there.
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The Art of Listening in Order to Design: A Visit to Berliner Architects
Who did you meet with today?
On July 16th we met with Berliner Architects and received presentations from Ian Fitzpatrick, Abby Katcher, Danai Sougkara, Tannaz Mohtasebi, Lautaro Galvez, Tony Armer – all from Berliner. We also met with Ed Melo from Brandow Johnson, Matt Skokan from Saiful Bouquet, and Kelly Schall from Budlong.
Where do they work? What does the company do?
We went to visit Berliner Architects, an architecture firm founded by Mr. Richard Berliner himself, which is located near Culver City. It was a nice, compact, yet cozy office full of working staff at their computers who were busy working on their projects. We were able to witness them at work as well as receive a presentation from Richardhimself regarding two schools that they were in charge of working with; Immaculate Heart, a Catholic school, as well as Citizens of the World, a charter school.
What did you learn today? What were some highlights?
We were able to learn more about what an architect actually does. It is not just drawing and designing a house but there are many other intricate details involved in the process as well. One of the main lessons emphasized was that it is imperative to work alongside your fellow engineers, contractors and clients as well as anyone else in order to coordinate and get the job done. One important skill you must have is the ability to listen.
What insights did you gain into the field of real estate development?
I learned about PCSD’s role alongside Berliner. To put it simply, PCSD works alongside the architects when it comes to budgeting, in order to ensure the charter school is able to afford the school being built. The architects themselves are responsible for the design and aesthetic aspect of the building when it comes to real estate development.
Did you become more interested in the field after today?
I was for sure already interested in architecture as I will be going to UC Berkeley to study Architecture, however this only gave me insight I had previously not had and what to expect if I do go into this field.
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The Role of Public Finance in Charter School Facility Projects
Who did you meet with today?
Today, my fellow interns and I had the pleasure of meeting John Kim, Managing Director of Stifel’s Charter School Practice Group. We also got the chance to meet and connect with Tina Lin, VP of Finance at PCSD, and with John’s team of banking interns: Kenji Swun, Rachel Fox, Austin Chan, Miguel Grillo, Edric Viazon, and Arias Najmabadi.
Where do they work? What does the company do?
Stifel has a few main aspects that they are known for including Corporate Finance, which helps companies invest their money wisely to grow; Public Finance, which helps raise capital for public agencies or nonprofits; Asset Management, which helps individuals reach their financial goals; and Commercial Banking, which is financial services to corporations such as accepting deposits and lending money. Stifel’s Public Financing team helps support various nonprofits such as PCSD to create new projects/operations like schools through grants, loans, and bonds.
What did you learn today? What were some highlights?
Getting to speak with John, I learned how much of a crucial role public financing plays in everything around us. Whether it is the schools we attend, the buses that provide us transportation, or the utility infrastructure that provides essential services to our communities. Public Finance does this by helping to raise capital for governments and nonprofits primarily through selling bonds which is essentially debt. Additionally, I was able to learn how the financial system is accessible to everyone but the cost may differ. Stifel helps nonprofits such as PCSD fund the facilities needed to create these incredible charter schools. Equally important, I found it interesting to hear John talk about the high level of importance that trust and communication play in Public Finance Investment Banking. Because without these skills, people will not feel secure enough to invest their money.
Furthermore, some highlights of our conversation with John were getting to hear about his background and how he worked under his father at a young age. There he learned how to communicate with all types of people to create a welcoming environment and how to take pride in his work/service, no matter how small. John also explained how soft skills are just as important as hard skills and that they may be even more important. Lastly, my fellow interns and I enjoyed getting the opportunity to talk one-on-one with each of the interns at Stifel.
What insights did you gain into the field of real estate development?
From our meeting with John, I gained several insights into how public finance is crucial for real estate development. I learned that public finance professionals, like those at Stifel, help raise capital for important community projects through bonds. These projects include things like building schools, roads, and utilities, which are essential for real estate development. For example, when a city issues bonds to build new schools or improve roads, it makes more people want to live there and attracts more businesses to invest in. This can increase the value of the area and encourage more development to occur.
Did you become more interested in the field after today?
After our meeting today, I have grown much more interested in the financial aspects of real estate and public finance. Learning about how public finance directly supports and drives real estate projects has given me a new appreciation for the intricacies and opportunities within the industry. Understanding how bonds and other financial tools are used to fund essential infrastructure projects, like schools and roads, highlights the critical role of strategic financial planning in creating thriving communities. This knowledge has made me more eager to explore how financial strategies and public-private partnerships can shape and enhance real estate development.
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Stepping into the World of Construction & Meeting an Auditor
Who did you meet with today?
Today, I had the pleasure of meeting with Henry Escobar, who is a construction manager at Bernards, and Lili Huang, who is the Business Assurance Principal at CLA.
Where do they work? What does the company do?
Bernards is a commercial builder and construction management company that provides technical expertise and construction services to developers (e.g. PCSD), corporations, educational institutions (e.g. Bright Star Schools), and public agencies (e.g. LAUSD). CLA (CliftonLarsonAllen) is a firm that offers industry-focused wealth advisory, outsourcing, audit, tax, and consulting services with the goal of creating possibilities for private businesses, public enterprises, nonprofit organizations, and the individuals who own and run them.
What did you learn today? What were some highlights?
One of the things I learned from Henry today was that Civil Engineering is the best type of engineering (LOL). But, most importantly I learned the construction process of a school by touring Rise Kohyang High School with Henry and Gilbert Tercero, Project Manager, PCSD. Along with learning about built-up roofing, I also learned about the expansion of materials when not exposed to a constant temperature.
By talking with Lili I was able to learn about the firm she works with and the impact they strive to make with their clients. Learning about the firm’s diversity, equity, Inclusion, and belonging initiative was also really inspiring.
Some of the highlights of the day included visiting a construction site and being able to witness the planning and effort that is being made to complete the school first hand. Speaking with Lili and getting to hear about her experiences was also another highlight since she was really empowering and inspiring.
What insights did you gain into the field of real estate development?
One of the key insights I gained was a deeper understanding of the development process. I realized that developing a school can present a number of problems and challenges, and that numerous people, including the project managers, contractor, architects, and engineers , must work together to find a solution. This frequently requires compromise or a mutual agreement about the building’s structural vs. design elements. Additionally, completing a project in real estate requires a team of people. An auditor such as Lili is essential to the completion of a project, just as bankers, engineers, lawyers and contractors are. For example, I also learned that electricity is crucial for the operation of a school since it is required not only for the building to function but also for the students and staff. As a result, several engineers and contractors must collaborate to ensure that the project is managed properly.
Did you become more interested in the field after today?
I definitely became more interested in real estate development than ever before! I would also add that my interest in civil engineering and real estate development has grown as a result of learning about the planning, teamwork, and of the entire process involved in construction. Speaking with some of the contractors and project managers was also an excellent way to gain exposure, insights, and learn about the various aspects of real estate development. Furthermore, I had no idea that a business like CLA ever existed, therefore I found it really fascinating to hear from Lili about the various growth prospects and opportunities offered by a company like CLA.
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Pursuing Law and Engineering in Real Estate
Who did you meet with today?
Today, my fellow interns and I got the opportunity to speak with Mera Baker Ramos, an in-house lawyer for Pacific Charter School Development (PCSD). Later that same day we got the chance to speak to Gilbert Tercero, one of the many project managers working at PCSD.
Where do they work? What does the company do?
Both Mera and Gilbert work for Pacific Charter School Development (PCSD), a non-profit focused on real estate. The organization works tirelessly to achieve their goal of building facilities for charter schools who are under-resourced. From organizing the finances for the construction to finding locations for the facilities, PCSD looks to make the process of building a school more welcoming and simple for charter schools in order to promote access to high-quality education in our community.
What did you learn today? What were some highlights?
From speaking with both Mera and Gilbert, I learned about how law and planning go into real estate. I got to hear about Mera’s journey and how she came to work for PCSD. Also, I got to get her perspective on how difficult it is to study law and the work it requires. On the other hand, I learned from Gilbert that it is good to be well connected in college to secure a job through internships. Also, I gained more of an understanding about the work of a civil engineer and the work they do to make sure a property is set to start construction.
Some highlights from our conversations were hearing about Mera’s experience in criminal justice and Gilbert’s work on the Sofi Stadium and Intuit Dome. I got a good understanding about how there are many different types of law that someone can study depending on what you like most. Also, I got to hear about the work and process put into constructing a large project, with the challenges of flooding and traffic.
What insights did you gain into the field of real estate development?
One of the many insights I gained into the field of real estate development was the importance of law in being able to get multiple entities to agree on a project. The attorney on one side writes up a document representing their interests and needs on a project, then it gets sent back and forth between all parties until they all agree. But, the process is more difficult than this as both sides have redlines.
Redlines represent the editing of one side to better suit their needs in a contract as they won’t always agree, this is when the negotiations happen.
This showed me how real estate can become more complicated as many people disagree with each other in the process of writing a legal document that can affect their position in a project. So having someone who understands law is important as you want to make sure that you are being treated fair in any legal situation.
Did you become more interested in the field after today?
After today, I have become more interested in real estate, specifically in law and its many different sub categories that are all important. I have become more interested in the law side of real estate because I liked that you are able to justify your intentions and come to a reasonable compromise between many people legally. Furthermore, I think real estate is a field that I can see myself in as it has many career paths that are all some I like. Also, I think that it is very interesting how all the different careers come together to be able to effectively develop a property.
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