Hi all, I have a final round case study with a RE firm that does direct equity and debt investments. They have given me heads up that I am expected to project cash flows, model capital structure, and model returns. Is it common for case studies for analyst candidates to require a waterfall? If so, ...
|10||1 year 5 months ago|
[deleted] My ideal role would be more on the financial analysis side of things, but really I'm open to anything that helps me learn the ins and outs of the industry. Would be grateful if I could get some advice on finding an entry-level position. -Should I leave my GPA off my resume? I feel like it'...
|4||9 months 2 weeks ago|
I am interviewing for a position as a real estate analyst with Fortress Investment Group. I would assume it is commercial real estate but I am going in fairly blind. Can anyone give me any info? Any perspective or thoughts would be helpful and much appreciated. ...
|16||3 years 1 month ago|
Hi Everyone, I'm looking to start focusing my networking efforts with VPs/MDs. I want to do real estate investment banking should I focus on BB type banks or firms like CBRE/Cushman and Wakefield. Is there any difference working as a real estate analyst at a BB rather than a specialty shop? Thanks...
|5||3 years 4 months ago|
The job is for an asset manager and entails managing over 2 million SF of commercial real estate located in 8 states. After a couple years, what kind of exit opportunities can you expect? What about comp? ...
|5||2 years 4 months ago|
PwC & the ULI put out a 100+ page pdf bible filled with relevant awesome market data throughout the globe - more than you will ever need. Still, it's awesome info if you're interested: http://ht.ly/l3OZr You can also read it to your kids as a bedtime story or recite it aloud to attract a mate, ...
|8||2 years 11 months ago|
Hi all, Just wanted some quick insight into this term. Let's say there's a trust deed payment in place (or any other loan/bond) on an asset. When you acquire it "free and clear", what happens to this debt? Any insight into this would be great, SB for great help as always :) ...
|8||3 years 1 month ago|
I realize this probably happens more than I think, while at the same time something people in the industry don't talk about out in the open. A contact of mine in the business mentioned to me a few years back that he had completed an acquisition for his firm at the time, whereby his firm had supplied...
|16||2 months 1 week ago|
I'm wondering what analysts get paid at the "real estate investment banking" groups at major brokerages. The capital markets, IS, structured finance/debt/equity groups or whatever the groups call themselves. I've searched the forums/the salary sections and glassdoor, but there isn't much info or I'...
|9||7 months 3 weeks ago|
I have so far finished reading Rosenbaum on Investment Banking Valuation for "EBITDA companies" but this book does not cover any Real Estate valuation topics. I am interested if there is any book which is completely the same as Rosenbaum's one but for real estate modelling (i.e. it has thoroughly ex...
|5||11 months 3 weeks ago|
I always see people who worked in the special situations team - I get the sense that this is distressed debt investing? Second, Curious to know if these positions pigeon hole yourself even more into a specialized area of RE - or if the skillset you learn from debt investing can be used to move int...
|14||2 years 12 months ago|
I was interviewing some candidates today, and got a mix of standard and stupid answers. What are the BEST and WORST answers that you've come across? ...
|54||1 year 5 months ago|
The US government is auctioning off 100s of thousands of foreclosed homes and some see this as the tip of a $1 trillion iceberg of foreclosed asset sales... several PE firms & hedge funds are getting ready The buyers might also get help from the government to finance their acquisitions... kinda ...
|21||3 years 11 months ago|
Is a $600 million real estate PE considered big? If not, what's considered a large fund? (aside from the $20 billion KKR, Blackstone, Carlyle). What's the typical size of a real estate fund? ...
|1||9 years 1 month ago|
Eastdil informational/casual interview Okay ladies and gents I'm going to come clean. I've kind of got interest to take a look at grass on the other side. I have gotten a direct introduction to an MD at Eastdil from an MD/PM I've gotten to know at one of the largest institutional investment fund man...
|3||2 months 3 days ago|
|11||1 year 4 months ago|
|7||1 year 3 months ago|
|0||10 months 3 weeks ago|
1) What are type of property do you acquire? 2) What states & major metros? 3) Deal & property size? 4) Cap rate? 5) Value-add or stabilized? 6) How much capital do you need to deploy? ...
|21||2 years 5 months ago|
Just received an email letting me know that I have an admissions interview tomorrow morning for a MSRE program. I haven't been in the field for the last year, but I want this is future direction focus. Current job isn't anywhere near RE, so i'm looking for some current market conditions, recent ne...
|0||9 months 1 week ago|
Hi all, I'm a first year MBA Candidate and just found out that I'll be interviewing in early January for a summer associate program in real estate PE at a major firm. The firm doesn't recruit at my school and I essentially networked my way to this point. With that being said, I have very little insi...
|1||5 months 2 weeks ago|
I have a phone interview this week with Barclays' real estate group for a full-time analyst position. I was wondering if people could give me examples on what I would expect in terms of fit or tech. I would prefer more examples and help with tech. I have never interned for an i-bank and had a summer...
|2||6 years 1 month ago|
Has anyone heard back yet? I imagine they've made their decision by now... Someone ease my pain...! ...
|5||2 years 7 months ago|
http://www.cpexecutive.com/business-specialties/development/2014-top-development-firms/ How come Tishman Speyer didn't even make it to the top 25 this year? They didn't release their #s yet or something? ...
|3||2 years 2 months ago|
Does anyone have a copy of the 2015 Preqin Global Real Estate Report? Willing to give multiple SBs!https://www.preqin.com/item/2015-preqin-global-rea... ...
|7||1 year 1 month ago|
Anyone have a digital copy they are willing to share? ...
|0||2 months 3 weeks ago|
Hey all, I'm a junior at a non-target with an average GPA (3.0-3.5) majoring in Finance. Did a small real estate internship last summer and looking to get into something bigger this year. I've been applying to a few different internships for different banks in their commercial real estate divisions,...
|1||4 months 3 weeks ago|
2bhk Apartments ...
|0||3 months 1 day ago|
Does anyone have experience making on of these? I'm working on my first now and hoping to bounce some ideas off of someone. Thanks in advance! ...
The Duke of Wall Street
|12||9 months 2 weeks ago|
2012 jd grad spent 1 1/2 years at small firm practingin real estate (development, buy/sell closings, etc..). I am now working in house for a finance company in a niche real estate field. I am interested in moving out of law in a year or so and into finance solely. I have the following questions: 1. ...
|11||1 year 4 months ago|
A few weeks ago I wrote about 5 things I learned while I went through the process of purchasing an investment property. I have now been an investment property owner for several months and I thought the next logical step was to write about 4 more things you learn as a rental property investor. 1) Get...
|22||1 year 8 months ago|
I have a question regarding what kind of returns I can expect from underwriting multi-family value add acquisitions at a 5 cap. I am typically in the neighborhood of low double-digits IRR, CoC mid-single digits. Some basic assumptions: 10 year hold stabilized vacancy(5%) entry cap = exit cap Leve...
|56||7 months 3 weeks ago|
About six months ago a buddy and I thought it might be a good idea to purchase an investment property near where I live. After a few months of searching we found a great unit and decided to pull the trigger. The unit had been a rental apartment for over a decade and the interior showed it so we deci...
|27||2 years 6 months ago|
Can anyone tell me the difference between the two? I'm assuming the structure with 5 units or more is the building permit for an apartment complex but then whats the other one? Example here:http://www.multifamilyexecutive.com/building-permi... what is the difference between Number of building permit...
|0||2 years 4 months ago|
If you spend 5 years at a high profile place (CBRE, HFF, Prudential, Wells, etc) that does substantial amounts of commercial debt annualy(in every platform), how much will you make if you switch companies or leave for another company in a new role? 150k? more? less? ...
|4||3 years 2 weeks ago|
I understand the developer becomes the GP for the property and only puts up 10% of the equity, so typically around 2.5%-3% of the project costs. How often is this done on existing properties compared to new developments? Do most PE firms participate in the 90/10 split? What is the exit strategy for ...
|2||2 years 11 months ago|
Currently working on a deal where the sponsor is putting in 5% of the required equity. The 95% is coming from a pension fund. The sponsor has listed an acquisition fee in the loan amount. The package states that the sponsor will consider the fee to be used as the 5% equity portion. Is this something...
|22||1 year 11 months ago|
I am curious to know. I hear its possible to get 99% financing with a mix of senior and junior debt. So lets say a senior lender provides 80% of the value at 6% and Mezz guy provides 19% of the value at say 11%. The equity holder would still stand to return a very nice IRR. Do I have this right or i...
|21||2 years 7 months ago|
Need some advice from someone familiar with RE legal matters. We have multiple LLCs, we would like a corporation to own them all in order to make it simpler for us. Is there a way of doing this, while keeping liabilities separate? Example would be, lets say one of our projects defaults, we would nee...
|6||2 years 10 months ago|
Hi guys. I am really thankful for being part of this forum. You guys are fun and helpful at the same time. I will just tell you my little story and I would really appreciate the help, advice and support I will get from you. I work as a CPA in a private wealth mgt. firm in Palo Alto, CA turning my th...
|9||1 month 2 weeks ago|
Hey guys, I am just curious as to what the typical day in the life of a project manager is for a real estate development firm. I have been thinking about possible switching from acquisitions to the project management side. Also what are some basic things like comp, growth path, hours, etc. Thanks ag...
|5||1 year 5 months ago|
Hi All, First time posting here and hoping for some helpful feedback. I have a great opportunity in front of me and I'm really trying to make sure I do everything I can to make it happen. (Background) Over the past year, through a little bit of luck and networking, I was able to form a great relat...
|1||3 years 1 week ago|
Hey, First post on the site. Applying to Commercial Real Estate firms. CBRE, JLL, Cushman&Wakefield, Colliers. Also applying to REIB, REPE and Real Estate Consulting Firms, however I don't figure I have much chance of success with the ladder. Would really appreciate any insight and a critiqu...
|1||4 months 2 weeks ago|
I'm going to be interning at a REPE firm over the summer and I have ZERO knowledge on REPE. Both the industry and the technical concepts. If you're thinking I got a free ride then let me assure you, I didn't. I was pretty shocked myself when I got the offer (just did my best and didn't dare try to B...
|5||3 years 3 days ago|
Anyone have any experience with this REIT? They recently posted an internship opening for the summer that I am interested in applying for. This would be for the Rye, NY office outside of the city. Additionally, any idea what comp would be like? ...
|0||3 months 1 week ago|
I've been very curious about this shop and I'm sure I'm not the only one. I know that they're starting to branch out to the West Coast. Does anyone have the 411 on Ackman Ziff? Spill the beans: - Comp? - Culture? (I hear Simon Ziff is against wearing ties??? That's interesting...) - Notable assignm...
|3||11 months 2 weeks ago|
Any info? Thanks. ...
|6||3 years 10 months ago|
I am a first year acquisition and development analyst at a well-known development company. I work in the condo/apartment group underwriting deals in 4 major markets and am gathering research to enter a 5th. My experience has been great so far, but I am also looking towards my future goals and what I...
|6||1 year 2 weeks ago|
Anyone on here go from acquisitions (REIT/REPE) to a top 10 MBA? If so, what was your motivation for getting the MBA? What did you tell the adcoms was your reason for getting the MBA (i.e. what did you want to do after school)? I was looking at job placement stats for some of the schools and real es...
|13||2 years 5 months ago|
Hey guys whats the scoop on Invitation Homes? Can this potentially be a good opportunity to break into a big time REIT or PE? ...
|4||2 years 7 months ago|
At my shop we have slowed the pace of our acquisitions to a bare minimum and our only acquisition targets are heavy value add/opportunistic . We are now almost exclusively focusing on new development opportunities in the multifamily space. The few guys who are still working on acquisitions continue ...
|21||11 months 1 week ago|
To anyone currently in the market for an analyst gig in acquisitions in the DC area, just noticed a new posting for Federal Capital Partners on select leaders (sometime I just look for shits). I read about these guys before and they seem super legit (look at the four founders backgrounds - Harvard m...
|0||1 month 1 week ago|
Looking for advice on how to prepare for my next step after working as an acquisitions analyst. Current: I am currently at a mid-size multi-family acquisition firm that focuses on West Coast assets. I spend my time primarily looking at value-add acquisitions in SoCal. We are typically the JV partne...
|3||1 year 1 month ago|
I have a career dilemma. I have been offered a full-time position in multi-family acquisition. I am wondering if this kind of experience is complex enough to land a job in real estate private equity several years down the road? I am currently finishing my second year at a fund of hedge funds (that ...
|14||3 years 9 months ago|
Role A Currently, I'm in a summer internship at a small REPE shop. To be honest, it's closer to a Real Estate Investment Management shop in the sense that we do not have a typical, large fund and instead find specific LPs for each deal that we do. Being that it is a small shop, we do all the heavy l...
The Duke of Wall Street
|10||9 months 3 weeks ago|
So I have an interview set up with a real estate company (development, construction, investment, management). I am wondering what salary range this job is in. The factors are: one hour outside of major city (think allentown pa, stamford ct type place) company is around 200 employees projects are non...
|62||4 months 1 week ago|
if you ultimately wanted to work in development as a project manager, and had an opportunity to join as an analyst crunching numbers etc and getting promoted through the ranks, would you see any value in instead opting to do acquisitions for a few years at a big investment firm? my thought is if I j...
|3||7 months 2 weeks ago|
I have 2 years M&A IB experience and recently completed a MSRE program. While in the program, I interned for real estate PE firms. In the long run, I'm not sure whether I want to be in real estate PE or development. I received an offer for an Acquisitions position from a regional development ...
|2||1 year 9 months ago|
Anyone work in acquisitions for a retailer? Would this be a good path to REPE? I'm currently interviewing for an acquisitions analyst role for a retailer and was hoping someone on here might have some insight into the space. ...
|1||12 months 3 days ago|
Hey everyone, was just offered a summer internship with a small and new (5 years old, 10 employees) real estate private equity firm. The internship is on the acquisitions team and is unpaid but comes with a small stipend at the end of the summer. I have accepted the offer because it is something th...
|5||12 months 9 hours ago|
How much is an acquisitions VP's salary based on sourcing/closing deals? I would assume it could be significantly higher than base depending on the volume of deals, but could anyone give a range? Would it be based on a percentage of purchase price or do most firms compensate a VP based on a flat fee...
|22||1 year 6 months ago|
Gentleman, What's the big difference in these roles at the Junior Analyst level assuming the Investment Sales role would be at a top shop (Eastdil/HFF/CBRE/JLL)? Putting aside compensation, which would obviously be higher in an Acquisitions role. From my knowledge, both will spend majority of their...
|5||1 year 1 month ago|
I work at a small real estate investment shop as an asset manager. We have 17 buildings in major and secondary markets along the east coast, probably around $750mm AUM. I started here about 8 months ago along with an acquisitions guy. He was formerly an analyst at a major player and left a pretty go...
|28||10 months 4 weeks ago|
Hello Monkeys, Any shops in the DC area looking for a summer intern or short-term analyst to grind away on pro-formas for the summer? Not looking to put roots down in DC per se (goal is to get back to SF Bay Area in REPE) but out here wrapping up the Georgetown MSRE program until August, and would ...
|0||2 weeks 2 days ago|
I just broke into the industry,have been working for a few months as a commercial mortagage banker and love it. I see a lot of deals, know how they get financed and see do the valuations/underwriting from a lenders perspective. I dont get to see many of the developer/investor investment decision mo...
|2||2 years 6 months ago|
All, I am doing some analyst work for an existing client of my firm on a stand alone basis. Its a redevelopment project and I have done all of the modeling for the equity raise. My firm is involved, however not in the capacity of raising equity. The client has expressed that he will compensate me in...
Crazy Lloyd Braun
|9||23 hours 2 min ago|
Ok, so it's been 3 years since ADIA hired Bill Schwab to head Real Estate and make a move into direct real estate investments. As I understand it they've recapitalised / refinanced a few old deals they were in and have constrained the number of and amounts invested in the funds they deal with. They'...
|2||4 years 3 months ago|
Admin Please Delete Thread ...
|8||2 years 6 months ago|
I'm thinking about taking the plunge into graduate school in econ, although in the long-run I'd like to work with real estate investors and developers. I'm not exactly sure what exact job title I want in the medium- to long-run (I don't know how anyone does), but I know that I'm interested in basica...
|3||3 years 10 months ago|
Hi All, So I am currently interviewing for a job as a financial analyst at a real estate brokerage. The job description is: Underwriting of property values ? Creating financial analyses, packages, and investment proposals ? Support for client presentations and brokerage efforts in market ? Market ...
|19||2 years 3 weeks ago|
Thinking about jumping ship for another firm and was looking for some insight. I currently work at a small family owned firm, all the equity is in-house and we have no outside investors. We are a really lean group, our acquisitions/development is basically myself and two other senior guys. With a c...
|19||2 years 2 weeks ago|
Hi guys, I'm at an ivy league, and I've come to realize that corporate finance really isn't for me. I interned at a top boutique RE IB/investment sales shop and realized that RE acquisitions is where I want to be. Where should I start? I've been reaching out and networking with people, and have got...
|6||8 months 3 weeks ago|
I'm looking for help getting my foot into the door in the CRE industry in the Baltimore and DC areas. I come from an Ivy League school and am graduating at the end of May and have been trying to find an opportunity of some sort. I've put dozens of apps out there, had a ton of conversations with peop...
|4||4 weeks 6 hours ago|
Graduated in May from a non-target Midwest public school with a 3.77 GPA and a summer internship experience at a small real estate/ capital markets company. I'm looking for an analyst role, primarily interested in CRE (because of my internship experience), but also considering AM. Looking to go to ...
|3||9 months 1 week ago|
Hi all. I'm a senior in undergraduate and I have a second round interview for an analyst position with a firm involved with real estate private equity (consulting and some Asset Management). I was told there would be no formal testing but I should be familiar with how real estate properties are valu...
|3||2 years 2 months ago|
My friend just got me a interview opportunity with Barclays' I-banking team for an entry-level position. I was wondering if I could get any advice on how to study for this interview? I've never had any investment banking experience, instead been focused on real estate. I have had a prior real estate...
|7||6 years 1 month ago|
I am applying for a position as a Development Analyst at JBG Companies IN the D.C. area and am looking for some advice on prepping for the interview. Any advice I can get, be it for JBG specifically or just in general, would be amazing. I know most of the basics (i.e. NPV vs IRR, DCF analysis, etc.)...
|12||1 month 4 weeks ago|
Hey guys, So after months of networking, I interviewed with a MM RE PE shop and got an offer for a SA position! However, currently, I am waiting to hear back on a Elite Boutique doing RE IBD for FT. I have told the Elite Boutique about my offer and they said they will get back to me asap about accel...
|4||2 years 2 weeks ago|
I started a real estate investment firm with a buddy of mine in NYC about a year ago and we had a successful run in acquiring a small deal (excellent returns) and advised on a $300MM hotel development in Time Square. Unfortunately, my partner is quitting to pursue his passion for trading stocks. How...
|9||2 years 1 week ago|
I will be frank that I find the fund management team in my Corp RE PE is boring. We only deal with fund reporting (which we just basically passing property management report to the investors), do fund performance ( which is just change in NAV) and board paper. I feel that my job is purely administra...
|14||11 months 6 days ago|
So I've been working towards a role in equities / fixed for some time, landed a job at a big AM house on a grad scheme. After a year and a bit doing the rounds, I've been offered a job as a property research analyst, looking at global property markets and developing investment strategies to inform t...
|3||2 years 3 months ago|
Does anyone have information on these guys? They're a Real Estate focused Investment Management firm based out of Boston. According to their website they have $22B under management and do both public and private market investing.http://www.aew.com/overview.html ...
|32||1 year 1 month ago|
Anyone active on the GP/LP side of affordable housing? If you have funded or developed any of these deals, please feel free to share your experience or thoughts on profitability, risk, or unique structures. I figure it's a long shot but I am trying to get my hands a 4% LIHTC Bond financial model. An...
|20||1 day 11 hours ago|
Just noticed there was some activity on another thread so wanted to share these... ...
|0||1 week 6 days ago|
Anyone have any thoughts on the affordable housing market vs. other types of real estate? Aside from applying for the federal credits (the hard part), what type of returns do you see on Affordable Properties, specifically section 8? ...
|11||2 years 5 months ago|
Wow finally a RE forum. I've been waiting for this for years.. Thank you so much for this <3 ...
|13||3 years 10 months ago|
Is anyone familiar with AIG based in NYC, how does their group run what types of deals, good rep, exit opps, the usual. Any interview questions, modeling tests? ...
|16||1 week 20 hours ago|
Anyone have any info on these guys?? ...
|4||1 month 2 weeks ago|
Title says it all. Any help is appreciated! ...
|2||2 months 2 weeks ago|
Hi, I need help with a solution to the following interesting situation: - I'm creating a fund with senior and junior interests. The fund is initially funded with 75% senior and 25% junior. - The fund invests in loans earning 10%. The senior earns 5% and the junior earns all additional income receive...
|0||2 years 3 months 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? ...
|2||1 year 5 months ago|
Alright ladies and gents - I've spent the past year trying to figure out my plan, as I'm sure many of you have done. Looking for some guidance as I'm on the fence. I'm focused on spending the next several years in transactions. There are two paths I can take: 1) Lateral into acquisitions and stay pu...
|11||2 months 2 weeks ago|
was wondering if anyone has any good career advice. At a huge core fund now doing AM. It's pretty decent work and isn't purely reporting, but there is a bit too much mundane work for my taste. ultimately, my long term goal is to stay on the buyside in a more acquisitions-type role where you get to ...
the bank robber
|5||2 years 2 months ago|
What would you do if you had the opportunity to work in AM at top core investor or acquisitions at a smaller/lesser known but very active private firm? Both in NYC. Just curious to hear people's thoughts? ...
|11||1 year 11 months ago|
I see a post just like this was put up, but I have a slightly different situation and would love some feedback. I am currently finishing my first semester of an MSRE and have been working in market research for a little over a year. I've landed an opportunity to work in Asset Management with the rea...
|3||2 years 1 week ago|
Hi all, Long time WSO reader, but first time poster. The site's been a huge help as transitioned from Teach for America into the commercial real estate world, so I figured I'd try to give back a little. A bit about me: I graduated in 2012 from a New England liberal arts college. Always knew I wanted...
|14||1 year 7 months ago|
WSO has provided me tons of valuable information over the years and helped me break into real estate a few years ago. Now it's time to pay it forward. I am going to be 100% full disclosure on everything (except compensation). I work as an acquisitions associate for a small publicly traded REIT (Glad...
|58||5 days 10 hours ago|
I'm not sure if this interests anyone on here, but I'm bored so here it goes; I'm an Analyst at a large life insurance company doing commercial mortgage origination. We're typically top 15/ top 20 as far as volume is concerned. We write loans on all the typical property types with various structures...
|33||5 days 2 hours ago|
Office leasing broker in a top 5 major market here to answer any questions if you have them. ...
|7||2 years 10 months ago|