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Real Estate Investment Banking RankingsI'm curious if anyone can provide some insight on who the top players are within this industry group. My understanding is that historically it has been BAML, JPM, and DB. Who are the top firms in this space today and are there any banks that seem to be quickly moving up or down the ranks? Thanks... 1 year 3 months


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Which should have the highest IRR: Office...Id would just add that you also have to consider not only the market risk, but the deal-specific factors of the investments (current vacancy, major tenant roll, capital projects), which all affect the risk and therefore the return profile of the investment. Esuric touched on that a little. For... 1 week 3 days
Best books on real estateReal Estate Finance & Investments by Bruggeman and Real Estate Finance & Investments: Risks and Opportunities by Linneman are considered the go-to books. 2 weeks 3 days
Tenant Rep vs. Investment SalesI would actually disagree with this. Tenants need space to work in no matter what (even if its a smaller space, or a short term extension during tough times). Investment sales, on the other hand, can dry up completely in a downturn and you can be sitting on your hands for a couple years. 3 weeks 2 days
PERE 50 2015 - Real Estate Private Equity RankingsThe ranking measures equity raised in the last few years - MS and GS funds got crushed in the downturn and my understanding is that they have not raised new funds since. MS just raised $400M for fund 8 but nowhere near as large as previous funds nor enough to make the list. 3 weeks 4 days
CRE UnderwritingAgree with the above. Sounds like a good opportunity so unless you have something else really compelling lined up, you probably dont want to walk away from it. 3 weeks 4 days
Marcus & Millichap (Major Metro Market...That being said, you still might be better off developing a stronger skill set at a larger shop. After that you would be able to dive into a given market and have the ability to figure it out for yourself, rather than work at M&M to do it. 4 weeks 1 day
Marcus & Millichap (Major Metro Market...OP, if all you ever want to do is small deals in a particular market, M... 4 weeks 1 day
Leaving a BB Analyst Program for Boutique RE...Only reason I said that is because it seemed like he expressed the 'step back' as a concern, not a foregone conclusion, and started the thread to get some feedback. I think you make some valid points about deal size / shop size - its not a question of right or wrong its a personal preference. I... 1 month 3 hours
Acquisition Guidance cap rate - interest rate spreads might be favorable but you are dealing with higher volatility because with cap rates are at compressed levels, a 100bp swing has a much bigger impact on value than it does if cap rates are higher to begin with. risk is compounded with higher leverage. 1 month 22 hours
Leaving a BB Analyst Program for Boutique RE...Not sure why everyone is jumping all over this guy but rather than dwelling on that, I think the fundraising advice is a good suggestion and would also try to get a hold of someone who has previously worked there if possible. Might be difficult to do since its a small place, but someone who has... 1 month 22 hours