Development analyst at a major REIT?
I want to eventually make it to REPE.
debt placement analyst at HFF?
Same questions as above.
ultimate goal; REPE
I want to eventually make it to REPE.
debt placement analyst at HFF?
Same questions as above.
ultimate goal; REPE
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Depends on what the development analyst title really means. I’ve heard these jobs can be less finance oriented and more focused on managing the development process. There’s a really good thread about it titled “Life at a mega developer” that discusses the difference between different development jobs.
At HFF you’d see tons of deals across lots of property types and financing scenarios, but I’ve heard varying stories about the underwriting involvement in debt brokerage. At GGP you’d be developing a handful of malls which is a pretty specific property type which is probably less transferable to REPE.
I’d follow up with the people you interviewed with to get more color on your responsibilities in both positions. It also sounds like you don’t have either job yet? Focus on that first
For the development; They told me it’s pretty excel heavy for whatever that’s worth. You’re right about the sorta management stuff I have heard that, I will follow up with them regarding that. They said hours about 60 a week at GGP.
I was wondering specifically if anyone knew. And also along the lines of being in retail only. Will that hurt me in the long run in sense limiting my options to REPE?
GGP is getting bought out. Brookfield has been trying to take the firm private for the last year as their NAV is significantly discounted. The transition could may not be the smoothest when that happens so keep that in mind.
HFF may be a better choice here. Retail is scary for everyone right now (including GGP shareholders) and tying yourself to that wagon right out of school when you have optionality could be unjustifiably risky. Exit opps at HFF will always be strong, and you’ll probably look at all product types vs specializing which I would view as a positive early on in your career. Others may disagree on that.
Ok, do you know much about the role in general as a development analyst? Now what are some HFF exit opps? I don't want to be in brokerage.
Debt placement is brokerage for them. You’d be the intermediary sourcing debt for developers and other investors on a deal by deal basis.
Development analyst would probably be trying to figure out how to redevelop malls that have big box stores failing. Could be interesting, once the acquisition is over with. If anything I would be asking a lot of questions of GGP about the buyout, how your role with be effected if at all, and the changing retail landscape.
Is there a lot of analysis at HFF, or is it mostly just a "sales" job.
From what I've heard, their debt/equity placement folks will typically model client deals from scratch, and then go raise said debt or equity. The relationships you develop from engaging top lenders/debt funds/PE firms/lifecos in the daily work can help to build your network. I was always told deal flow should be top priority coming out of school; look, I think you could do fine at either gig, but again I would strongly question going into retail right now. Again, I would talk to people (rather than just this forum) who may have a different opinion on this.
Always go buy-side if that is an option for you...im a VP for an REPE firm. I interview people often...There is no substitute for buy-side experience. GL
What is your comp like? It is my goal to make it to REPE! The comp is pretty cloudy in my opinion. Is it the same as standard PE?
Check out the "What is your compensation in Real Estate Finance?" thread in the Real Estate Forum. Very informative on development, REPE and brokerage comp.
REIT Development Analyst exit ops? (Originally Posted: 03/22/2018)
Ultimately I want to make it to REPE.
What kind of salary can be expected for the first few years at Simon?
How does this compare to debt placement at HFF?
I’m trying to navigate th she roles.
goal; REPE
Hi Malpa, whoops, looks like nobody chimed in here.... maybe one of these discussions below is relevant:
Or maybe the following pros can chime in... DAmbrosio kami_kazii jsmith337
Hope that helps.
Inquiry re: REIT Development (Originally Posted: 06/10/2015)
Hello all, first post. I recently left medical school and will pursue finance, instead. This thread question is:
A friend of mine owns and operates a real estate development company. Development projects include from single-family luxury homes (3-4 mil), housing projects, multi-family rental units, and the development of new neighborhoods.
What kinds of professionals typically undertake these kinds of endeavors? What skills will be required? Will having a Series 7 enable me to prospect investors and brokering shares?
Any advice, questions, comments, or concerns would be appreciated.
Note: Also, his operations include approximately 3mil in direct lending for real estate ventures.
Newer to the game, are houses (not multifamily) big for the REITs? If you're paying dividends how are you making the money off housing to continually pay shareholders?
Oy vey...
Sounds like you and your partner are both very successful and intelligent but I don't think either of you should be in the position to legally set up a REIT. Talk to a good securities and/or real estate attorney about this formation because it is a lot more complicated than you think.
It is my understanding that - as you elude to - a REIT must pay out >90% of profit/income to shareholders in the form of dividends. The income from the sale of a house, the rental income, etc.
I am intelligent, but unless you consider dropping out of medical school after incurring $140K of debt, I am hardly successful. My friend, however, is Successful with a capital S ;)
My OP question seems like a niche question, and ultimately I think that consulting an attorney is the next logical step for my friend. From my perspective, I just got really excited at the prospect of performing any job remotely related to managing a REIT. And so, I posted to try to get some general feedback, as I am brand-new to this industry.
Thx
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