Commercial Mortgages and Securitized Real Estate Assets Intern

Location: Minneapolis, Minnesota

Why Join Thrivent?

Thrivent is a leading Fortune 500 financial services organization dedicated to helping people achieve financial clarity and live generous lives. As a mission-driven, not-for-profit financial services leader, Thrivent offers a unique blend of purpose and professionalism. Our Fixed Income Real Estate team manages a diverse portfolio of securitized public and private debt, including ABS, CLOs, CMBS, MBS, and commercial mortgage loans. Joining Thrivent as a Commercial Mortgages and Securitized Real Estate Assets Intern means gaining hands-on experience in a rotational program across high-impact teams within a Fortune 500 investment division.

Minneapolis, Minnesota, serves as our hub for innovative financial strategies, surrounded by a vibrant economy and thriving real estate markets. Interns at Thrivent are not just support staff—they are integral to our investment process, interacting daily with portfolio managers, traders, and senior analysts. This real estate internship in Minneapolis provides exposure to industrial, multifamily, retail, and office investments nationwide, building a foundation for a career in commercial mortgage underwriting and fixed income analysis.

Our internship program stands out with competitive pay, professional development, networking events, and social activities. Thrivent fosters a collaborative culture where interns contribute meaningfully, preparing you for full-time roles in commercial real estate finance, securitized assets, and investment management.

Role Description

The Commercial Mortgages and Securitized Real Estate Assets Intern supports research and analysis for Fixed Income Securitized Public and Private Debt and Commercial Mortgage Loans teams. This rotational internship immerses you in underwriting commercial real estate debt, evaluating ABS (Asset-Backed Securities), CLOs (Collateralized Loan Obligations), CMBS (Commercial Mortgage-Backed Securities), MBS (Mortgage-Backed Securities), and whole loan mortgage investments.

You'll analyze properties across U.S. markets, focusing on industrial, multifamily, retail, and office sectors. Daily collaboration with senior professionals hones your skills in investment analysis, credit risk assessment, and portfolio monitoring. Ideal for rising juniors and seniors passionate about commercial mortgage underwriting, fixed income investing, and real estate finance careers.

Detailed Responsibilities

• Provide real estate and capital market research support for analyzing and underwriting bond and mortgage investments, including cash flow modeling and valuation.
• Monitor credit risk and performance of existing investment holdings, generating reports on portfolio health and market trends.
• Review due diligence documents associated with the origination and closing of mortgage investments, ensuring compliance and risk mitigation.
• Perform independent research on industries and sectors within the real estate and fixed income markets, such as multifamily housing trends or retail sector recovery.
• Participate and contribute to all aspects of the investment process, including meetings with issuers, management teams, and external stakeholders.
• Assist in building financial models using Excel and specialized tools to evaluate property performance and debt service coverage.
• Support trading desk activities by preparing market summaries and investment recommendations.
• Collaborate on rotational projects between securitized debt and commercial mortgage teams for comprehensive exposure.

Required Skills

Thrivent seeks interns with exceptional analytical prowess and a drive for real estate excellence. Key skills include:

• Proficiency in financial modeling and Excel for real estate cash flow analysis.
• Knowledge of underwriting commercial properties, including debt service coverage ratios (DSCR) and loan-to-value (LTV).
• Strong research abilities in capital markets, fixed income securities, and real estate sectors.
• Excellent written and verbal communication for presenting findings to senior stakeholders.
• Analytical problem-solving and decision-making in complex investment scenarios.
• Familiarity with Microsoft Office Suite; bonus for Argus, FactSet, Aladdin, or Bloomberg.
• Mathematical and statistical skills for risk assessment and performance metrics.
• Ability to thrive in team settings and work independently on deadlines.

Education & Experience

• Rising juniors or seniors pursuing a degree in Real Estate, Finance, Accounting, or related fields with strong academic performance (GPA 3.5+ preferred).
• Demonstrated interest in commercial real estate, fixed income, or investment analysis through coursework, clubs, or prior internships.
• Working knowledge of accounting, finance, corporate strategy, real estate valuation, and financial statistics.
• Experience or coursework in commercial property underwriting is highly preferred.
• Availability to work full-time during the summer in Minneapolis, MN.

Compensation Overview

Thrivent offers competitive compensation for this internship, reflecting Minneapolis market rates for top real estate finance talent.

Benefits

• Competitive hourly wage with potential performance bonuses.
• Full intern event program: professional development workshops, networking with executives, and social activities.
• Mentorship from portfolio managers and senior analysts.
• Exposure to Fortune 500 investment processes and real-world projects.
• Potential pathway to full-time roles in commercial mortgages or securitized assets.
• Hybrid work options in modern Minneapolis offices, plus wellness and commuter benefits.

Apply now for this premier real estate intern Minneapolis opportunity at Thrivent and launch your career in commercial mortgages and securitized real estate assets!