Greystar and Project Destined partner to support diversity in real estate with launch of virtual internship program at South Carolina State University
March 16, 2022
Greystar Real Estate Partners LLC (“Greystar”), a global leader in the investment, development, and management of high-quality rental housing properties, has partnered with Project Destined, a social impact education and investment platform that specializes in training underserved youth, to launch a three-year accredited and paid virtual internship program at South Carolina State University (SCSU). Greystar will be providing 10 students of diverse backgrounds with mentorship and the opportunity to work with a leading rental housing real estate firm, where live transactions will help participants gain real-world experience, and build connections in the real estate industry.
In 2020, Project Destined and Greystar partnered to launch the program in Durham, North Carolina for students attending Global Scholars Academy Middle School, Hillside High School, and North Carolina Central University. Since its launch, Project Destined and Greystar have partnered in six markets (including Boston, Charleston, Durham, Houston, Orange County and Washington D.C.) and engaged with students from 15 historically black colleges and universities (HBCUs). In addition, Project Destined’s platform has grown 10 times since Greystar’s partnership in 2020 and now serves over 500 undergraduates per year across 25 U.S. and International markets and 60+ universities.
SCSU’s students will receive three hours of college course credit for completing the program in addition to a $500 stipend. Project Destined will support the launch of SCSU’s Inaugural Real Estate Club providing members with best-in-class networking opportunities and career-building tools. Greystar will provide an Investment Bootcamp for SCSU’s students which includes an overview of commercial real estate (CRE) investing.
“We strive to give South Carolina State University’s students the best possible career opportunities and experiences and Project Destined has been one of the best platforms that enables real-world experiences,” said Dr. Barbara Adams, Dean, School of Business at South Carolina State University. “It is a pleasure to hear positive feedback from our students involved in the program and how working with Greystar is influencing them to pursue a career in real estate. Helping our students reach the next stage of their professional development is our ultimate goal and we believe we are able to achieve that with the help of Greystar and Project Destined.”
“We have hit major milestones since partnering with Greystar in 2020,” said Cedric Bobo, Co-Founder of Project Destined. “The fact that we are targeting more HBCUs is a positive indication that we will see more opportunities for students in underserved communities. The work we’re doing with Greystar not only exposes students to real-world real estate investment experience but helps them build relationship capital in the industry with one of the leading rental housing firms in the world.”
“We are excited for the opportunity to expand our partnership with Project Destined right in our home-base of South Carolina,” said Bob Faith, Founder, Chairman, and CEO of Greystar. “We believe in investing in the future leaders of the real estate industry and are committed to enabling the same opportunities for students of diverse backgrounds. This starts with a robust internship and mentorship program that provides sustainable growth opportunities. Greystar’s seasoned professionals are proud to share their deep industry insight, guidance and support with Project Destined.”
The organization was co-founded by Bobo, a former Carlyle executive and investment banker. As part of the program, interns will dedicate up to 40 hours per semester to working within the commercial real estate industry. In addition to building a range of technical, financial, and leadership skills, students will participate in team-based competitions every three weeks. The competitions will comprise presentations on multifamily transactions, offering students the opportunity to collaborate with real estate professionals on real-world scenarios. The program will culminate in a finale, in which each team of interns will present a live investment opportunity to industry leaders.
About Greystar
Greystar is a leading, fully integrated real estate company offering expertise in investment management, development, and management of rental housing properties globally. Headquartered in Charleston, South Carolina, Greystar manages and operates approximately $230 billion of real estate in 215 markets globally including offices throughout North America, Europe, South America, and the Asia-Pacific region. Greystar is the largest operator of apartments in the United States, manages more than 754,000 units/beds, and has a robust institutional investment management platform with approximately $49.9 billion of assets under management, including $22.6 billion of development assets. Greystar was founded by Bob Faith in 1993 with the intent to become a provider of world-class service in the rental residential real estate business. To learn more, visit www.greystar.com.
