Real Estate Summer Analyst

Founded in 1988, and headquartered in Toronto, Tricon is one of North America's preeminent rental housing providers. 

Tricon was one of the first movers to enter Toronto's purpose-built rental apartment sector with scale in 2016 and is developing the highest quality multi-family portfolio in North America's fastest growing city.  Tricon is the leader and most active developer in the marketplace with a 6,000+ pipeline of new units.  At Tricon, we are reimagining rental living – Tricon properties are concentrated in prime downtown Toronto locations, and are defined by design excellence, signature resort-quality amenities, exceptional customer service, and lifestyle programming that fosters connections and builds community. To learn more, please visit: Tricon Toronto.

Job Description

The Real Estate Summer Analyst supports Tricon's purpose-built rental apartment platform through a rotational program spanning investments, development, and asset management. The Real Estate Analyst gains hands-on exposure to all stages of the real estate development lifecycle, including evaluation and underwriting, design development, budgeting, and ongoing property performance.

The Real Estate Analst develops a deep understanding of residential real estate fundamentals, institutional investing, and the strategic considerations that drive long-term value creation within Canada's premier residential real estate platform.

Essential Duties and Responsibilities:

Market Research & Valuation

• Conduct detailed market analyses on rental trends, absorption, and demographic drivers across key Canadian CMAs.

• Benchmark comparable assets, rents, cap rates, and construction costs using internal databases and third-party sources.

Portfolio & Asset Management

• Support the preparation of financial and investment reporting packages summarizing project progress, leasing activity, and variance analyses.

• Contribute to ongoing asset management for projects in development and under construction, including return management and scenario analyses.

• Help identify opportunities for value creation, operational efficiency, and capital improvements across the portfolio.

Financial Analysis, Underwriting & Valuation

• Maintain and develop detailed Excel pro formas for multi-family rental and other residential development projects.

• Model project cash flows, IRRs, yields, and sensitivity scenarios for acquisition and development opportunities.

• Support debt and equity financing efforts through loan sizing, covenant modeling, and partner return waterfalls.

• Assist in preparing valuation materials and investment memoranda for internal decision-making and Investment Committee review.

General Research, Strategic Projects & Other

• Conduct research on housing affordability, purpose-built rental policy, and CMHC programs.

• Track macroeconomic indicators such as interest rates, inflation, and immigration, and assess their implications for the rental housing market.

• Contribute to RFP/RFQ submissions and partnership proposals with institutional partners.

• Support ad-hoc analyses and maintain internal databases to strengthen the firm's research and investment capabilities.

Qualifications:

• Demonstrated interest in real estate investment, development, or urban economics, as evidenced through coursework, extracurricular involvement, or prior internships.

• Strong analytical and quantitative skills, with proficiency in Excel and familiarity with valuation and investment analysis concepts (NPV, IRR, sensitivity/scenario modeling).

• Excellent research, problem-solving, and critical-thinking abilities, with attention to detail and intellectual curiosity.

• Strong written and verbal communication skills, with the ability to synthesize complex information clearly and concisely.

• Proven team orientation and interpersonal skills, with the ability to collaborate effectively in a fast-paced, professional environment.

• Self-motivated, organized, and eager to contribute to a dynamic, high-performance real estate investment platform.

Minimum Requirements:

• Enrolled in an undergraduate program at a top Canadian university.

• Exceptional academic performance with a strong record of achievement (minimum cumulative GPA of 3.7+/A- or equivalent).

• Currently in second or third year of study (returning to university in Fall 2026).

• Pursuing a business, commerce, economics, finance, engineering, mathematics, or other quantitatively oriented discipline.

Preferred Attributes:

• Proficiency in Microsoft Excel and PowerPoint; experience with financial modeling, data visualization, and presentation preparation.

• Understanding of Canadian real estate markets, particularly residential development in major CMAs (Toronto, Vancouver, Ottawa, Calgary, Edmonton).

Work Schedule: Employees are expected to work onsite Monday through Friday.

Physical Demands:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job, including:

• Frequently required to sit, talk, and hear.

• Frequently required to stand and move; use hands to grasp, squeeze, finger, handle, and feel; reach, push, and pull with hands and arms; occasionally required to twist; reach overhead; stoop, kneel, squat, bend, and crouch.

• Occasionally lift, carry, and move up to 10 pounds.

• Vision abilities required by this job include close vision, distance vision, and depth perception.

We are committed to fostering an inclusive and accessible recruitment process. If you require accommodations at any stage of the hiring process, please let us know, and we will work with you to meet your needs.

Tricon Residential Inc. is an owner, operator and developer of a portfolio of approximately 38,000 single-family rental homes in the U.S. Sun Belt and multi-family apartments in Canada.  Our commitment to enriching the lives of our employees, residents and local communities underpins Tricon's culture and business philosophy.  We provide high-quality rental housing options for families across the United States and Canada through our technology-enabled operating platform and dedicated on-the-ground operating teams.  Our development programs are also delivering thousands of new rental homes and apartments as part of our commitment to help solve the housing supply shortage.  At Tricon, we imagine a world where housing unlocks life's potential.

At Tricon, we are committed to creating a workplace where every individual is valued for their unique contributions, experiences, voices, and backgrounds. By embracing these principles, we aim to positively impact our business and the communities we serve, creating a lasting legacy where everyone can thrive.

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