Taking Flight in Real Estate: Stephen Fialko’s Internship at Hines

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PREVIOUS CAREER BEFORE MBA

• Title: F-15E Weapons Systems Officer
• Company: United States Air Force

SUMMER INTERNSHIP

• Company: Hines
• Department: Hines Global Income Trust / Houston Development Team
• Location: Houston, TX

HOW DID YOU SECURE YOUR INTERNSHIP?

I secured my internship through the veteran network. A well-connected veteran introduced me to a few people within the company who were ultimately able to vouch for my candidacy, as I come from a nontraditional background.

WHAT WERE YOUR RESPONSIBILITIES DURING THE INTERNSHIP?

I analyzed real estate acquisitions and contributed to deal summary decks and investment committee memos that were presented to high-level decision-makers. I also analyzed and constructed financial models for potential developments to determine viability for investment.

HOW DID YOUR MBA COURSEWORK PREPARE YOU FOR THIS INTERNSHIP?

My Intro to Finance course taught by Alan Crane and my Real Estate Valuations course taught by Stephanie Johnson were pivotal in helping me understand the operations and not drown while drinking from the proverbial fire hose over the summer.

HOW DID THE INTERNSHIP ALIGN WITH YOUR CAREER GOALS?

This internship was with my target company in my target role, so it aligned perfectly with my goals.

WHAT WAS YOUR FAVORITE PART OF THE INTERNSHIP EXPERIENCE?

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My favorite part of the experience was seeing how deal flow and alpha generation are sustained at a global company through both good and bad times. Even though real estate is coming out of a down cycle, Hines never slowed down. It was interesting to see how structure, track record and connectivity to the industry have helped them thrive.

WHAT ADVICE DO YOU HAVE FOR PROSPECTIVE STUDENTS?

If you’re interested in recruiting for real estate, start networking and connecting with folks in the industry immediately. Not only will they be able to provide pivotal advice in your pursuit of your vision, but you need to immerse yourself in the vernacular, mindset and community as much as possible to stay in tune with current trends, cycles and news.

Stephen Fialko is a Full-Time MBA student in the Class of 2027.