League Tables - Real Estate
(Chimp, 15
Points)
on 8/20/12 at 11:21pm
Anyone have any idea how the GS real estate group stacks up relative to other RE banking groups on the street? Anyone have league tables for Real Estate groups? Thanks.






GS has a decent group; they
GS has a decent group; they get their fair share of strategic real estate deals. BAML has always been the historic leader in the space, but their overwhelming dominance has waned in the last few years. Citi, DB, and JPM also have very strong groups. I'm not sure if this is still the case, but Morgan Stanley real estate analysts used to work in both MSREF and IBD, so that was perhaps the best place to start among the bulge bracket programs.
Real estate is a very capital markets intensive industry group for investment banks, since REITs aren't allowed to retain earnings (they have to distribute virtually all of their earnings as dividends) and therefore constantly turn to new equity offerings to expand. As a result, the banks with large balance sheets and distribution networks (like BAML, Citi, and JPM) have a significant edge in the real estate space.