So... it appears that Joe Sitt just dumped the Valentino property on 5th avenue for $525M after buying it for $142.5M in 2010. I'm perplexed by the ground floor retail lease that got signed with Valentino for $3,000 PSF. As in $250 PSF per month x 19,600 SF = $4,900,000 in monthly rent? That's $58,...
|9||2 min 23 sec ago|
Hi, I have a partner interview with a large commerical real estate firm, and I was wondering if anyone had any insight into what type of questions I should expect and how to best answer them. I've been told questions will be mostly fit questions. Any help will be greatly appreciated, and silver bana...
|12||10 min 28 sec ago|
I know titles across in our industry are weird but I was wondering if there are any "Development Managers" here. Wondering what your day to day is specifically, and how much you would be involved with the financial underwriting side pre acquisition and how much of the entitlements/construction phase...
|9||14 min 1 sec ago|
Currently working on arranging financing for a multi-site development project (approx $400mm cost (150mm in equity and the rest debt)). What would the market for a financing/brokerage fee be on a project this size. Any thoughts ...
|0||2 hours 23 min ago|
I'm trying to get a better understanding of the CMBS market and how it works. Does the market essentially act similar to Famnie and GSEs, where they buy pools of mortgages, only these are in office, industrial, and development, and the buyers are investors not the Gov? I'm reading on it now, from w...
Commissions and fees
|4||2 hours 45 min ago|
As title suggests, what are some ways you guys approach this. Can people copy and paste this part of your resume on here. Please redact as appropriate for privacy. Im in the hunt and Im trying to update my resume a bit but not sure how much in detail I should go about doing this. Thanks everyone! ...
|3||3 hours 55 min ago|
I know that traditional PE averages 60+, but what about REPE? Is it the same amount of hours on average? ...
|14||5 hours 23 min ago|
Hey guys, curious on your thoughts. Most of the stuff on here is acquisitions, AM, PM, at REPE firms and such but what about positions within corporations RE department. Just for example..real estate at let's say a non RE firm like a Johnson & Johnson. Are there any good exit ops or are corporat...
|1||5 hours 31 min ago|
Hey guys, need some help. I've done loans on pretty much every other asset class except hotels. My client, who is performing a portfolio refinance with me is considering refinancing his 63,000sqft, 110 room hotel here in San Diego. It's basically an A location but a C building. Any recommendation...
|4||13 hours 38 min ago|
This is a bit early but still curious, I'm looking to make the transition out of brokerage roles to lender/fund side. What are the differences in modeling required? I am used to making a 10 year DCF with equity hurdles and JV splits npv, irr, COC, MOIC, analyst,how would a lender look at the debt r...
|13||15 hours 27 min ago|
|0||1 day 4 min ago|
Real high level question here. Seen a lot of AH funds around run by people with pretty impressive backgrounds. Just curious as to your guys thoughts on the profitability of these strategies as I'm not familiar with them. Part of me thinks it's a good model because of all the government subsidies ...
|12||1 day 1 hour ago|
Just a bit of background...Currently in an investment sales role at a big brokerage house (think CBRE, JLL, Cushman) primarily focused on private capital (we sell assets between $2-$25 million). Looking to make a big transition in the next few years to a team or shop with institutional deal exposure...
|6||1 day 18 hours ago|
So this is a question for those who are in the actual real estate development game and have contact with the general contractors who build the projects. How does your shop go about finding general contractors for project? Is it normally word of mouth, or is it the guys who 'wine and dine' to get ac...
|7||1 day 19 hours ago|
In light of PIMCO's recent article and what appears to be a general consensus that over-development in this cycle is localized to a handful of specific property types in specific markets, would anyone care to throw out some markets you think are experiencing a little over-development? ...
|4||2 days 2 hours ago|
Does anyone know what the cut-off is for differentiating small-box industrial space vs big-box industrial? (in terms of square footage) ...
|7||2 days 17 hours ago|
I've seen several threads for happy hours/meet ups in other cities. I was hoping to see if there would be any interest in having a meet up in Chicago. Respond below if you would be interested in something like this in mid-April. If we have enough interest I'll put something together. ...
|22||2 days 17 hours ago|
Your thoughts on this article. 30% in NYC...cmon. Falling Prices Signs of a cooling real estate market have emerged across the country since the start of the year. Commercial-property values in big U.S. cities, which have seen the largest increases during the recent boom, have declined 3 percent in...
|19||2 days 20 hours ago|
Any NYC acquisitions guys who can comment on what assets they are pursuing and how often they are closing? ...
|2||2 days 20 hours ago|
Much debate over the forces causing steady falloff of labor participation. New jobs report today shows only 38,000 new jobs, yet 500,000 left the labor force and U/E drops to a new low of 4.7%. The report showed a broad hiring slowdown, including declines in payrolls in construction, manufacturi...
|67||3 days 4 hours ago|
Hi all, I'm planning to recruit for BX SA 2017. I am a rising junior from a target school. Any advice on how to approach BX recruiting from undergrad? Met one BX guy in the NY office recently. Thank you a;ll ...
|1||3 days 8 hours ago|
I am putting together a list of well-known real estate companies for the forum. Please recommend some institutional players or companies with national presence you are aware of that most CRE professionals can immediately acknowledge. They can be PE, developer, Asset Management, investment advisory, ...
|0||3 days 12 hours ago|
I recently completed my sophomore year at Fordham University and will be entering my junior year in September. I have an interest in real estate and would like to break into corporate real estate (firms or REITS such as Starwood Capital Group, Cushman & Wakefield Capital Markets, Vornado, Tishma...
|1||3 days 17 hours ago|
What do you guys think? This would be very useful to many of us. ...
|75||4 days 3 hours ago|
I have completed all of the financial models and certifications from REFM and I'm going through the BIWS models right now, and was wondering about the level of difficulty of those models in comparison with real life models. Do you guys have any experience with this? ...
|9||5 days 4 hours ago|
Would be great if we could get a list of the most successful/emerging real estate technologies and startups and get some opinions on the future of the industry. ...
|6||5 days 22 hours ago|
Hypothetical of course..... But lets pretend I have 3 years of underwriting experience in CRE at a BB ... go to Columbia MSRD and want to start developing/investing in multi family. How exactly would I go about getting investors to do so? ...
|10||5 days 22 hours ago|
Does anybody have any good stories of coworker f@#k ups? Like someone missing a ROFR or early termination for a major tenant during DD? Did he/she end up getting canned? ...
|16||6 days 3 hours ago|
If you look at the housing prices in Manhattan, it costs more than a whole average mortgage payment to rent and millions of dollars to buy. How can a normal person with a college degree afford to live this way? I am not talking about people with already millions or billions of dollars to invest in r...
|60||6 days 5 hours ago|
Hi everyone, let's say a property is going to REITs. How to price such property. Here are the parameters: entry CAP Rate: 10% NOI: 63 million and remain 10% YoY growth. Time: 5~7 years Exit CAP Rate: remain 10% or lower If we are going to REITs. How to value such property? Thanks. ...
|0||6 days 13 hours ago|
2016 real estate private equity rankings. (See attachment inside the post) ...
|6||1 week 1 hour ago|
hey I was just looking to see if anyone can shed some light on what its like working as an analyst on the lending side of real estate. whether its a bank, mortgage reit or any other kind of lender. what are the exit ops for a analyst? can one transfer to the equity side easily? what does an analyst ...
|12||1 week 1 hour ago|
I've noticed a lot of questions on this forum relating to promote structures, deal structures, and other topics relating to JV partnerships and return calculations. One of my former co-workers gave me an issue of the Real Estate Finance Journal that does a fantastic job diving into all these issues....
|0||1 week 2 hours ago|
I recently landed a Sr. analyst position at a large REIT in a secondary market. Thanks in a large part to the advice I got on WSO - Thank you (especially @CRE and @RE Bootcamp )! My question... I drive an old SUV, not junky, but definitely old (15 years) mainly because it still runs and I prefer to...
|56||1 week 17 hours ago|
Does anyone have any insight on the Multi Family Real Estate market in Hartford, CT? I understand the area has a low median income and the rents are not high at all but what do you see this place being in 10,20,30 years? Cap Rates average around 8-10% ...
|7||1 week 17 hours ago|
Just a quick question, what is the general consensus regarding Altus Group's research, valuation, and appraisal department as an entry into CRE for recent undergraduates? ...
|4||1 week 18 hours ago|
Has anyone heard of L.A. based Laurus Corporation? Supposedly ~$1.0 BN AUM with opportunistic/credit focused strategy. ...
|1||1 week 20 hours ago|
Ran a search and got nothing back. Does anyone have any insight or experience with this firm in Washington, DC? Trying to gather due diligence for potential opportunities after grad school. Looking for things like office culture, comp, opportunities for advancement, deal flow, etc. Any info is appre...
|6||1 week 1 day ago|
little background on myself... -graduated from reputable school -currently analyst at a massive corporation's Corp. RE department where I do project budgeting, handle project financials, etc (no specific modeling). basically a financial analyst for projects -had 3 months internship at small RE inves...
|7||1 week 1 day ago|
I was wondering how secure jobs are on the lending side of real estate, whether its a bank, lifeco, specialty lender etc? (especially in NYC) how secure are analyst/associate roles during a recession or downturn? would it be more or less than a role on the equity side? ...
|4||1 week 1 day ago|
HL City Bhadurgarh offering Best 2/3 BHK Flats and apartment in Bahadurgarh, Haryana with best Location like Doctor Residential Area, Metro Station, Aiims Hospital, Maharaja Agrasen Hospital, and Bahadurgarh Bypass, You can Find Flats under 30 Lack with many facilities. For more information you can ...
|0||1 week 1 day ago|
Every year a list of the largest real estate private equity firms is published. However I have yet to find a list of the best real estate development firms. I'm specifically referring to firms that have great analyst platforms where you'll learn the most, get exposure to a diverse multitude of deals...
|13||1 week 1 day ago|
Hi, has anyone ever heard of Columbia Investment Partners? I have a phone interview lined up with them and I'm not certain about their interview process. Additionally, how should I talk about a real estate investment opportunity intelligently? I can pitch a stock and talk about my transaction experi...
|0||1 week 1 day ago|
What do you guys think about negotiating a starting salary right out of undergrad? Starting a relationship on the wrong foot or just business as usual? Would love to hear the WSO consensus... Just got an offer as credit analyst at large bank in NYC in their real estate group. The offer salary is not...
|8||1 week 2 days ago|
All, I am an investment analyst with an operator/syndicator based out of the Midwest. We primarily focus on value-add multifamily opportunities in the Midwest and have a strong track record of delivering solid returns. We are vertically integrated with property management and construction all bei...
|3||1 week 2 days ago|
Does anyone have any input on (CRI) Certified Realty Investor vs CCIM vs CFA designations within real estate? Any thoughts are appreciated. ...
|9||1 week 2 days ago|
Where do you guys find Multi Family Listings from? I mainly search Loopnet but I am wondering if there are any sites the professionals in the industry browse for potential investment opportunities. ...
|2||1 week 2 days ago|
Hi Guys, I have an offer for a small healthcare appraisal company for their Fixed-Asset Valuation Analyst position. The main things being appraised are machinery, equipment, and personal property. How valuable is this type of experience? I tried looking for related topics but only found valuation...
|1||1 week 2 days ago|
I am wondering what types of refinancing tactics I could use to refinance old debt (6.25%) secured by real estate on a LTV of about 50%, 10-15 years left on the amortization schedule. I have seen in the market around 3.50% interest now days. The only issue is that the company's taxes aren't curren...
|9||1 week 3 days ago|
I was taught early on as an acquisition guy not to waste time attempting to negotiate purchases off-market with public REITS, due to their fiduciary obligation to market each deal to assure competitive pricing is met. Has anyone ever been successful buying from a REIT through a non listed sale? Can...
|7||1 week 3 days ago|
Anyone know where I can get cap rates and/or square foot rental rates for fulfillment centers and other types of industrial real estate? ...
|5||1 week 4 days ago|
Any recommendations? Is the Argus DCF course still worth taking? ...
|12||1 week 4 days ago|
Where is everyone looking for deals these days? From my point of view, I am seeing value in the affordable luxury market as well as value-add MF stuff in the least desirable neighborhoods of Manhattan. Can anyone comment on their recent NYC acquisitions activity? ...
|3||1 week 4 days ago|
Real estate peeps, I heading to grad school in a few months and can't decide between a PC or a Mac. What do you guys think? I had a Macbook Air since after undergrad until now (been 4 years) but it was damaged so I need a new machine. Functionality wise, I don't think we'll doing any models that ar...
|34||1 week 5 days ago|
Anyone know anything about these guys - working for them, rep in the market, etc? ...
|5||1 week 5 days ago|
Hello, Anyone have any experience with GS realty division in Washington DC? Culture? pay? their deal flow? Front office or Back office? Anything you know ! please share Thanks ...
|1||1 week 6 days ago|
Hey WSO. Right now I am a rising senior at a liberal arts school in Greenville, SC working towards a degree in Applied Math/Computing. Despite the degree I am working towards, I have long been fascinated with the real estate industry and have been putting a lot of thought into pursuing a career in t...
|2||1 week 6 days ago|
The Wall Street Oasis Real Estate Hall of Fame provides a comprehensive collection of some of WSO's best discussions on the real estate industry. Keep in mind this Hall of Fame does not include Q&A sessions by WSO veterans. To view a full list of Q&A’s & Interviews please navigate ...
|0||1 week 6 days ago|
Does anybody have a copy of CRE Finance Council's CMBS E-Primer? I have an analyst interview for a CMBS group and am trying to get my hands on a copy of this document to review beforehand. Thanks! ...
|9||1 week 6 days ago|
As a Financial Analyst, I am frequently modeling commercial real estate deals. Typically, I will do a 3 Year and 5 Year analysis. Most of the time, the 3 year analysis will yield a higher IRR than the 5 Year analysis. However, in the current deal I am modeling, the 5 year analysis is yielding a high...
|4||2 weeks 6 hours ago|
Hello everyone, I am modelling a debt financing structure for a real estate acquisition. The senior tranche is priced as a floating rate of X% over LIBOR. I don't have access to BBG at the moment and would hugely appreciate if someone could provide a table of 3-month GBP LIBOR forwards for the next ...
|0||2 weeks 22 hours ago|
I just found this site and I am jealous that there was nothing like this 20 years ago when I was starting my career. I am hopeful that many of you will be willing to share your insights with me as I start a search into the next phase of my real estate career. I am 40 years old with an unconventional...
|0||2 weeks 22 hours ago|
Anybody have any insight on ARA Newmark? I know NGKF has been making moves acquiring teams from C&W Boston/CBRE San Francisco/etc. Anybody have specific info on the ARA division? What is it like working there? working with them? Comp? Pros/Cons vs a CBRE/JLL/C&W? Future outlook? Woul...
|17||2 weeks 1 day ago|
Anyone care to share some knowledge on the three different types of financing sources? Pros and Cons? Lending tendency? Who they typically lend to? Leverage? Etc.. Thanks! ...
|7||2 weeks 1 day ago|
I hope to break into REPE and develop multi family housing. I am currently interning at a BB in their commercial bank but not in the CRE division. Would three years of CRE experience help me get into columbia's development program? ...
|0||2 weeks 1 day ago|
As the title states. Looking to make a career change and want to bolster my skills/resume a bit. Thanks. ...
|23||2 weeks 1 day ago|
For those of you who've left before the 1 year mark, has it impacted you in any other way besides ticking off the company you left and having to explain it in interviews? What are your thoughts on this - I'm in an analyst role where I spend more time updating and re-engineering excel formulas so tha...
|12||2 weeks 1 day ago|
Hello - just curious if anyone has any experience with doing CRE lending at an insurance company, and how would that compare to doing CRE lending (CMBS/BS/etc.) at a bank in terms of comp (salary + bonus) and hours at the analyst/associate level? I am honestly looking for a better lifestyle and want...
|8||2 weeks 1 day ago|
Hey- I've always had an interest in Real Estate both from a research perspective and a development perspective. I am looking to transition careers. Currently work in City Planning/operations research for the city of NY. I am currently studying for my GRE and have been torn between MSRE or an MBA wit...
|0||2 weeks 2 days ago|
Hello, Does anyone with knowledge of RE Debt Funds or who currently works in one have any advice on how to break in? I currently work at a CRE Debt platform at a US investment bank that mostly originates CMBS debt, but does some hairier balance sheet loans on non-stabilized assets with significant s...
|2||2 weeks 2 days ago|
Just wondering if there are a lot of similarities between the two and if certain courses are better for each? REIB deals with REITs rather than individual properties, so I'm assuming it is a bit more complicated. ...
|1||2 weeks 2 days ago|
This is my first post to WSO so I hope I'm doing this correctly. Here's a little about myself... Job : 1 year doing corporate finance at Top 3 Bulge Bracket bank Undergrad : (Mid-Atlantic) Non-Target - Penn State, Maryland, UNC Major GPA: 3.7+ Internships: 1 year at Elite RE development firm that bu...
|9||2 weeks 2 days ago|
Greetings! I spent the last two years working in the FO of an alternative investment firm and really liked Real Estate. So i have decided to go back to school to do an MSc Real Estate Investment (Cass Business School, London). My goal is to get into real estate fund management as an investment analy...
|3||2 weeks 2 days ago|
I need to get a handle on building such a model from scratch for an upcoming meeting and do not have one in my arsenal. I would obviously be happy to share any models in return that I have. Thanks. ...
|15||2 weeks 2 days ago|
I know many here work in PE and help raise money for their firms regularly. I am asking about for your own personal projects. Has anyone reached out to friends, family, investment groups or maybe even did some marketing looking for investors to help with a deal? I'm looking to do my first deal on my...
|34||2 weeks 2 days ago|
I wanted to hear what peoples experience or opinions are in regards to what job postings are asking for in a candidate vs. who applies/gets hired. In particular for young positions like analysts. It seems like they ask for candidates to already know a lot. Do they often accept candidates that don't...
|26||2 weeks 2 days ago|
Some background about me: Recent USC Real Estate Finance grad from Marshall. I'll be moving out to the east coast to work for a large national bank in their Real Estate Debt group. It's a 2 year training program and then I'll be sent out to another city once I'm finished. I've interned for a REPE fi...
|0||2 weeks 2 days ago|
Anyone have any info on what exactly it is they do? Being as how they are "the investment banking division of CBRE", is it basically REIT I-banking? Where do they rank in terms of market presence/deal flow? Comp? Any insight is greatly appreciated. ...
|20||2 weeks 2 days ago|
Alright is anyone actually using Argus AE? Argus keeps telling us that everyone is moving over but I haven't found anybody that actually does. ...
|82||2 weeks 4 days ago|
Is it true that the larger REPE funds operate very differently (primarily as capital allocators) then the RE-focused houses (that are more active and hands-on in their investments)? Are RE acquisitions roles at BX/Lonestar/Caryle uniquely different than the same at a Greystar/CIM/USAA Real Estate t...
|0||2 weeks 4 days ago|
I've been admitted into both the MIT MSRED and USC MRED programs and thoroughly enjoyed/respected both when visiting. Coming from a design background, I'd like to transition into development eventually (not necessarily immediately) ending up on the west coast. MIT: -prestigious, global brand -very ...
|12||2 weeks 5 days ago|
I am negotiating my contract now. I wanted to see if those who are working on the acquisition and development of projects are getting a piece of the deals they work on. If so, what title do you have, what level of experience, whats the deal size, how much are you getting, and how is it structured...
|13||2 weeks 5 days ago|
I looked around and I couldn't find a recent post covering this so since it is relevant to my current position, I was hoping I could get some advice from you guys. What would be a better place to start a career in real estate? Analyst at a debt and equity placement group (think Northmarq, Berkadia...
|4||2 weeks 6 days ago|
Ok, so I have been wondering how RE investment firms have their legal structures in place. For example, we have a company call XYZ Capital, which specializes in multifamily acquisitions. So essentially they set up XYZ Capital as a LLC since it may be family owned or only have a few partners, but the...
|6||2 weeks 6 days ago|
Hey guys, Have an interview coming up for a credit analyst position at a MM bank in their CRE group, and admittedly have little background in real estate. I'm very familiar with financial valuation (DCF, comps, etc.), but was hoping you guys could contrast the two. Also if anyone has any basic mode...
|1||2 weeks 6 days ago|
Hi all, just wondering whether you have any suggestion where to look at of Real Estate graduates program that focuses on Industrial sector? I plan to get my master degrees in Real Estate this year however i found difficulties in searching University that offers RE for Industrial sector. thank you...
|3||2 weeks 6 days ago|
Hi WSO RE people! Curious if anyone here focuses on the industrial sector, pm me if so. I know someone interested in meeting more people of your kind. Gracias! ...
|6||2 weeks 6 days ago|
Hey guys, Does Anyone have any experience with Georgetown's Masters Real Estate program? How does it place and where? What kind of stats do you need to get in? I have 3-5 years experience in the industry. Thanks ...
|40||2 weeks 6 days ago|
Hello, a little background on my self prior to getting into the topic. I am 24 year old recent graduate from a non-target school with a degree in finance with a 3.0 GPA. I've been going back and forth between going into the capital markets/analytical side of commercial real estate or becoming a com...
|2||3 weeks 2 hours ago|
Hi, currently I am a research analyst for a commercial real estate analytics company (real capital analytics, reis inc, costar etc.) I am also finishing up my Certificate in Real Estate Finance and Investment at NYU. Eventually, I would like to be an analyst/ in acquisitions on the buy side at a PE ...
|22||3 weeks 4 hours ago|
Does anyone have any experience with the REFM acquisitions self study lessons? any thoughts or reviews?https://www.getrefm.com/product-category/self-stud... ...
|0||3 weeks 4 hours ago|
Gentleman, Has anyone here made this move before? I'm currently an REPE Analyst and am increasingly being reached out to by headhunters for corporate PE jobs. While not yet sold on corporate PE roles, I was wondering how difficult the transition would be. I have very strong excel modeling skills a...
|2||3 weeks 15 hours ago|
Licensed Finance Major (1 year left) trying to get into investment sales. 4 months ago I interviewed with M&M (A friend of mine started off here and told me guys in their 20s are making $200K+) I was 1 of 3 but they chose someone with more experience. (I had zero) I now am a summer analyst for N...
|0||3 weeks 19 hours ago|
I created these interactive Debt Sizing Matrices after I observed that my colleagues and I were continually running the same calculations when trying value a property and/or size a loan. Feel free to post/send some feedback. ...
|32||3 weeks 1 day ago|
Hey I was not sure where else to put this but I am almost done my bachelor of commerce in finance and was looking for career advise. I am contemplating between becoming a real estate agent or getting into corporate finance. My main goals are to have a good work life balance while also improving my i...
|10||3 weeks 1 day ago|
Does anyone here know what it's like working for one of the big NYC real estate families or how you would even land that gig to begin with? A lot of their websites are skimping on details and you're lucky if you can find a generic company email. I can't tell if it would be a great spot to be in and ...
|17||3 weeks 1 day ago|
A few friends have asked me to help them find new analysts and I always like to help out fellow monkeys. JLL - Industrial Capital Markets team - Los Angeles, CA CW - R&D/Office/Industrial Capital Markets team - San Francisco, CA Both incredible opportunities to join successful teams. PM me if in...
|0||3 weeks 1 day ago|
Hi all, As a broker, in respect to prospecting for new clients (cold calling/email, attending real estate functions, etc), what does everyone's typical week look like? Do you have a set goal like "I am going to make 50 calls a day and attend at least one outside real estate function per week" o...
|6||3 weeks 2 days ago|
I am currently a finance student at Fordham University's Gabelli School of Business and was accepted as a junior year transfer to Boston University's Questrom School of Business and Northeastern University's D'Amore-McKim School of Business. I am a finance major and hope to enter real estate/real es...
|8||3 weeks 3 days ago|
I Currently attend Fordham University. I Was accepted to BU Questrom and Northeastern D'Amore-McKim as a transfer and I am deciding on where to transfer (or stay) for a future career in Wall Street/Finance. [Specifically Real Estate Finance related]. I would be coming in as a junior. Which school wo...
|1||3 weeks 5 days ago|