Silver BananaTopicReplies
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Co working spaces as new asset classDear all, In a recent REPE interview I got asked about Co Working Spaces as emerging asset class. I was asked about specific yield and risks associated with the asset class. I reckon that this is probably the highest yielding and riskiest asset class in the market right now? Any input is much app...
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Adamas Partners - Interview - N/AI was asked what I thought about the recent developments made in what I was asked what I thought about the recent developments made in what I was asked what I thought about the recent developments made in what I was asked what I thought about the recent developments made in what I was asked what I t...
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LP Interest AcquisitionsHey WSO, I was recently underwriting a GP interest acquisition and wanted to know if anyone could provide guidance on how to search for **LP** interest acquisitions, and how they would work. Is there any database I could search? One idea I had was to look at tax credit syndicated projects from 200...
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Anybody have access to Bloomberg?- Can you find a credit rating of a company without access to bloomberg?I am trying to find the credit rating for safeway/albertsons. Any help is much appreciated, thank you!...
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Kimberlite (RE IB boutique)Has anyone heard anything about this bank? Anyone in the sector have some insight on the reputation/deal flow/etc?...
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Regions Bank - Review - Real EstateVery easy hours (40-50), but very little projects or challenging work. Very easy to revive a Full time offer.. No live deals or experience to work on and put on resume. Work can defiantly be repetivie and get boring after a while....
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Acquisition Fee (bonus on closed deals)Curious if anyone on the acq side has a bonus structure that pays an acq fee % on deals closed? And if so, how many basis points are you getting, and what is you typical deal size in dollars? Thanks...
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RE Debt | Managing the due diligence processI'm fairly new to the world of private debt. While I feel fairly comfortable building out a model, I find I have been struggling quite a bit with all of the due diligence. How did you all learn to go through this process? Or what is the process for due diligence at your firms? Specifically i'm t...
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Luxury Single Family Residential DevelopmentDoes anybody here have experience with single family development of luxury homes? I am not necessarily talking about large scale developments, more so want to learn about people who buy a single lot or tear down and build a brand new luxury house on top of it. Asked differently, are there any good ...
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RE IBD Organisational StructureCan anyone advise on RE IB structure at Goldmans? Is it Analyst/Associate, VP, XD, MD/Partner and do they operate a Staffer role to allocate workflow? Any help much appreciated!...
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Real Estate IB at a BBHi everyone, Doing an off-cycle at a BB in the RE IBD team in EMEA. Any tips on what I should know before I start? Understand valuations are a little different and terms like FFO/AFFO/Cap Rates will be used a lot. Also read how we should use the 12 month forward stabilized NOI for our calculations...
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Housing Prices Rise at a Cost: Fourth Straight Monthly Decline in Home SalesCNBC released [an article](https://www.cnbc.com/2018/08/22/us-existing-home-sales-fall-for-fourth-straight-month.html) describing the current state of the housing market: * Rising building materials costs, as well as shortages of land and labor, have left builders unable to bridge the inventory g...
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Off-Market Northern CA Land DealHi WSO, I have off-market commercial land available in Northern California. This deal could work for a land bank buyer that can close on the property by the end of this year or for a developer that wants to entitle and master plan the site. Price range $50-100MM. The Seller may need to 1031. Please...
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Fannie/Freddie college associate programFannie and Freddie both started college associate hiring this week, apply online Last round Freddie hired ~30 analysts for multifamily and many many more for single family and Capital market...
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Real Estate LondonAny thoughts on the likes of CS/Barclays for RE in London? Work that they do, reputation, culture etc....
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CBRE - Review - Capital MarketsSmall market Lots of opportunities Very active real estate wise Small teams, good exposure Possibility to rise quickly. Very cut throat environment Eat what you kill Long hours Pretty individual Not bad really, just something to know beforehand. All good to me...
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applying to be a brokerhi all, I've always been on the buy side, so I have no idea about becoming a broker. My wife would like to become a real estate salesperson and then later broker in CA. I've been really struggling going through all the materials on the CA Bureau of Real Estate pages trying to make sense of the appli...
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Post Grad ActivitiesHi all, I'm in need of some recommendations on ways to beef up my resume post undergrad. I've always been pretty heavy on the extra curriculars, from Elementary to College and now that I'm out I am lost. After a recent job interview, it became apparent to me that most of the stuff I talked about/ ...
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World Class Capital Group?Anyone have any experience working at or working with World Class Capital Group either in Austin or NYC? I've been Googling a bit and read mixed reviews and not sure what they are all about....
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JP Morgan Securities - Interview - Commercial BankingMost difficult interview question was - If you could create an app, what would it be? Definitely requires creativity on the interviewer' part. Other question that was asked and was a little more manageable was - When was a time you had to think on your feet? I've done many behavioral questions in t...
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CRE broker who just passed the CFA exams. Now that my CFA journey is over, I'm a little lost.I apologize if you have already read my post before from another website but I casting a wider net to see if I can get some additional ideas. Hi, I feel a little weird asking for life tips on Reddit but here goes... Quick background: I graduated with a BBA in Finance (it's a US top 30 business scho...
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occupancy required for agency financingmy firm is selling a multifamily property. any idea what occupancy is required for a prospective buyer to attain agency financing? getting conflicting information from brokers thanks in advance....
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Freddie Mac - Review - Credit Risk-good hours and pay -very good 401k Steady promotion Job security Can go work for seller servicer at anytime for higher pay if you want. Overtime during busy season Pay is not as high as sellers Living cost is high in tysons area Reallly not much cons ...
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Wells Fargo Seeking Two Commercial Mtg Associates - Job OpportunityHey guys, Just went through the most recent issue of Commercial Mtg Alert and thought I'd share a job opportunity for any looking. See the exact words from the issue below: "Wells Fargo is seeking two commercial mortgage associates to join its multifamily capital team. One opening, based in New Y...
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Freddie Mac - Interview - Securities UnderwritingThe interview questions were not hard because the interviewers were genuinely interested in getting to know me and see if I fit for the job. They thoroughly went through my resume and asked on some parts that seem relevant to the job requirement. No questions were difficult to answer. The interview...
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Basic Question- vacant space recoveries/rentWhy do we include "vacant space rent" and "vacant space recoveries" when we calculate our income? Our underwriting model at work has those two line items before we get to vacancy loss and EGI. But if we are strictly looking at in place numbers, then if a space is vacant, why do we include hypothet...
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Incoming Acquisitions Analyst in the Northeast Multifamily value add space looking for tips/guidance/adviceLong time lurker, finally secured an Acquisitions Analyst position at a lean shop investing in value add/core multifamily/apartments in the Northeast. I already purchased Peter Linneman's book which I have been reading through and the REFM Apartment/Multi-Family Building Acquisition Financial Model...
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Non-Finance Related Degree How much trouble will I have finding a finance related position in this industry with a BBA in computer information systems? The degree includes general business courses but nothing RE finance related. I'm seeing an adviser next week that might be able to make an exception and get me in the RE finan...
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Harrison Street Real Estate CapitalDoes anyone have any insight into this firm or experience interviewing at Harrison Street for acquisitions? Exit Ops?...
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West coast MSRE/MRED programs?My friend is looking at MBA programs and MSRE programs on the west coast. He has no experience in finance or real estate. What programs are his best bet to transition into a real estate career even if it's to an analyst position? USC MRED requires too much real estate work experience. Pepperdin...
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SFR Lot Development/Master Planned Community FinanceDoes anyone have any good resources/tools for SFR lot development/master-planned community pro forma modeling? I am willing to trade for w/e you may be looking for. Also - can someone outline how to model a lot release provision into forward cashflow?...
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Pepperdine MSRE: Any InfoHey everyone- I’m currently an undergrad student in a Southern California and also work full time in residential brokerage (as an agent, will get my broker’s license in a few months) full time. Long story short: I want to move into commercial development and am weighing out my options. Pepperd...
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Real Capital SolutionsIs anyone familiar with these guys? Family office/PE firm out of Denver. Any details would be helpful. https://realcapitalsolutions.com/...
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Is investing in Istanbul real Esate is good idea?As we all know istanbul is the one of the most beautiful cities in the world and fav international destination for many to travel, or business or vacation. I am thinking to invest money in Istanbul Real Estate, so if anyone can give some insights views on this or have any experience of investing in ...
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Goldman Sachs - Review - Real EstateThe group is very collegial group, everyone gets along very well and is always willing to help out. Senior management is also really friendly and social. Excellent group culture, among the best I've experienced. . The group isn't a first mover and sticks to what they know (traditional asset classes)...
Morgan Stanley - Review - Real EstateThe best thing about working at Morgan Stanley was that you get close with you coworkers and there are lot of corporate outings, such as baseball games.. A big con about working at Morgan Stanley was the rigid, hierarchical corporate structure that the company promotes. ...
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Analyst follow up interview (debt/equity placement)Can anyone provide any insight/advice on a follow up interview with an office head at a national debt/equity placement shop in a primary market? I have had several phone conversations and an in-person interview with 5 or 6 producers on the team. My next meeting is with the office head. Also any ins...
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Life as a CRE BrokerHi All, I was initially looking into becoming a RE Analyst but haven't been able to shake the want to become a CRE broker since learning more about the industry. Would current brokers be willing to share their current RE type, how many deals they close on average a year, and experience building the...
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Which is your preferred property type?Just like the title states..... What is your preferred property type that you enjoy working on. Additionally, why is it your preferred choice? Curious to see what you guys have to say, specifically those that have been in the CRE industry for a bit....
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GSE/DUS Lending Exit OpsFor those who worked in the GSE/DUS lending arena, what are some exit opportunities to look at pursuing? I've been on the production/underwriting side for awhile now. I like it but now I am wondering if it is for me in the long term. I'm willing to slow play it out, but not sure what exit opportuni...
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KKR - Associate Position in New York - Job ListingThought I would share this open position to those of you on the east coast currently looking. I saw this in a recent issue of the commercial mortgage alert. The blurb said specifically, "KKR is looking for an associate to join its real estate credit group in New York and assist with underwriting br...
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CRE companies focused on adaptive re-use I am a senior in college and currently in them midst of my full-time job search. A topic that has really fascinated me recently has been the renovation and re-development of older buildings whose useful life has ended, or "adaptive re-use". I have been searching for firms that specialize in these ...
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Writing Credit Papers and Credit ReportsHi All, I am a graduate pursuing a real estate and property developing career. Following from completing an development appraisal on a office to resi conversion project as part of an interview assessment, I have been asked to “list all the other elements to include into a full credit report(i....
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REIT InterviewI have an interview tomorrow with one of the nation's largest REITs. The role will be a Senior Analyst position on the Strategic Initiatives team. I am expecting some technical questions along with the traditional fit questions. I am looking for some advice regarding what to expect on the technical ...
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Cushman and Wakefield - Review - BrokerageGreat culture. Fun place to work. Good group of people. Lots of young coworkers. Exposure to top real estate owners.. Little clarity on how bonuses were paid/calculated. Little clarity on how titles/promotions worked. ...
Morgan Stanley - Interview - Real EstateThey presented a short case study of a real estate acquisition opportunity. They would then ask me to calculate the IRR, ROE of the property. They also asked questions about the concept to make sure I really understood the concept as a whole. They also asked several fit questions about real estate a...
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Meridian Capital Group (Training) / "Meridian University""Since starting in March 2013, Brian and Meridian's corporate training program have minted more than a dozen top-tier commercial mortgage brokers. In almost three years, the program (dubbed "Meridian University") has trained 16 in-house associates who have closed approximately $700M for clients, wit...
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RE Modeling Test - TRADEI enjoy practicing my modeling skills with these tests when I have (lots of) spare time. PM me if you want to trade tests and follow-up on our answers/models to compare and learn....
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NewMark Grubb Knight Frank - Review - Real EstateI think the setup was solid. The benefits were strong and the salary is great for a first year analyst. . Cons: Long Hours, no upward mobility, challenging bonus structure compared to other groups within the company. ...
NewMark Grubb Knight Frank - Review - Real EstateReally solid exposure to different real estate deals and structure. Work flow is absolutely ridiculous, I couldn't have expected to see come across the amount of deals I do . The hours are long, and as upper level management leaves its hard to get a good mentorship experience without learning on you...
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Where do you draw the line with the definition of anchored or unachored retail?When you have a neighborhood center with a national department store, grocery/drug store, you could call it an anchored center. But, I am underwriting a neighborhood center where you have a newer local arcade/play space for kids that occupies 25% of the center and then next you have wells fargo bank...
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Off Market PropertiesI have seen so many different meanings of "off market properties". I have seen the traditional buying a property with no broker, and I have also seen a property listed but says "off market". Whats your take?...
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Blackstone Group - Interview - Real EstateNothing unexpected or difficult. Simply was asked to explain experiences I had written down on resume. ...
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Nation wide provider of environmental and engineering reports need leads to help hit my sales number.Need some referrals to help hit my numbers. I work for a National Consulting Services Firm that provides environmental (Phase I ESA) and engineering reports (Property Condition) for you deals or portfolios please private message me I will get you pricing. Thanks!...
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Is it at all normal for a GP to have an LP be a co-signer for a recourse mortgage loan?In the deal that I've been posting about, pertaining mostly short-term rental properties, the GP is saying it's tough for them to get a mortgage without their LPs co-signing to be on the recourse loans. I'm not sure whether that's standard at all or totally wonky....
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Real Estate Investment BankingIncoming Senior at Target Non-Ivy looking to enter REIB. What are some groups that should be on my radar, whether it be RE groups at BBs or more boutique firms. Relatedly, if my end goal is REPE, is REIB the most logical first step or should I be looking into AM at a bank or REPE firm. Any informa...
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Percentage RentDoes anyone know how they model out percentage rent in operating/revenue proformas? Not the mechanics, but how to you arrive at the sales number with which to take a percent of? Do we ask the lessee for a 5-10 year operating proforma? Do we use market comps?...
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Cushman and Wakefield - Review - Real EstateSmart people to work for and work with. Lean team, great culture. Great deal flow and learning experience. Opportunity to take on additional responsibilities. . Upward growth is somewhat limited given the brokerage nature. Occasionally there are some confusions coming from the corporate level. Not t...
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Buying Ground LeasesI'm assuming there are firms/funds that have a specific investment strategy of purchasing land that is ground leased to the owner of the improvements. Is there a specific resource one could use to determine which properties in a specific geography sit on ground leases? It seems it would be a much ...
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What is the next big threat to CRE?Just thought it would be good to brainstorm on this. CRE is at a high and regardless of fed hikes, it doesn't seem like cap rates are increasing. Investors are willing to take smaller spreads. At what point will the market turn? Is there a black swan coming? ...
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Switching from Creative Advertising to Real EstateI'm trying to break into commercial real estate from creative advertising. I became obsessed with real estate investing about 2 years ago and even bought a SFH out of state as an investment property. I want to work in CRE to gain a lot of experience and eventually start my own firm that handles comm...
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Wells Fargo Summer Financial Analyst Program (Commercial Real Estate)I'm applying to various commercial real estate internships/programs as a junior. Wells Fargo is recruiting on my campus for their Commercial Real Estate program. When I mentioned it to a peer pursuing similar internships, he said "yeah I'm not interested. I'm not sure if I want Wells Fargo on my r...
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Mortgage Industry Advisory Corporation - Review - Risk ManagementGood hours, relaxed culture. A lot of smart people work here. Involved in truly all aspects of the mortgage , industry. A great place to start or finish a career. Low benefits, lack of direction. Occasionally we will have opportunities to do great things but because of half assed foundation work, we...
CBRE - Review - Equity Capital MarketsGot to be a part of a group that saw an incredible amount of deal flow. The office was state of the art.. The team was very busy but that didn't mean they always had work for interns, much of the business is done over the phone....
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MRED Rec Letter AdviceThis is a post I did a few days ago on the Business School Forum, posting here due to no replies Sup everyone I'm applying to a few schools for Fall 2019 and wanted to get some feedback on how I could go about asking my current boss for a letter of recommendation. I hope to be able to continue wor...
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Top Commercial Mortgage Brokers in DCCan anyone comment on the top 5 debt shops in Washington DC ranked by a mix of prestige, origination volume and interesting deals? ...
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Real Estate, Gaming & Lodging Interview Hello All, I'm a current semi-target Senior with a first round interview with the REIB group at a BB/EB coming up. I was wondering if anyone could provide some color as to the technical questions that might come up? I'm not sure if I should prepare for typical WSO/Vault guide IB questions, or more...
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Development vs. REPEI want to turn to this forum for some clarity. ** Thank you in advice for any advice! ** First a little background on myself… I am a junior at a non-target studying finance and accounting. I have developed an interest in RE Finance and have hit the networking trail hard. I have secured an interns...
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Wells Fargo and Company - Interview - Commercial BankingNone of the questions asked were terribly difficult. In the first interview they wrote 3 different asset classes on a whiteboard and asked me to tell this which was the safest and which was the riskiest. You could kind of explain any answer and as long as your explaination is okay they’ll let you ...
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REPE Acquisitions NYC - HoursI’m currently a 1st year Analyst at an REPE firm in NYC. Before starting, I expected to work maybe 45-55 hours, but now that I’m settled I’m constantly pulling 65-70 hour weeks. I can somewhat manage this for now, but I know long-term I’m definitely going to want a job where I spend less tim...
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Running Yield vs. Cash-on-CashHi there, Is there a difference between an asset's running yield and cash-on-cash calculation? If so, could you please explain the difference? Many thanks,...
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Q10 Capital Any insights on Q10 Capital? Thanks in advance. Bonus question to fill character minimum: any insights on mortgage banking (income potential etc)? I've already read a few threads on here (although there should be more) so I already have a decent idea. ...
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Discount Rate on Buyout of My Carried InterestI have a 20% carried interest in a real estate development project. Conservative assumptions are that the project will distribute an additional $30M over the next 4 years, thus my un-discounted interest is worth approximately $6M. For personal reasons, I am considering selling my interest to my part...
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Parking Lot - Cap Rates and ValuationHave zero experience in this niche. Looking at a commercial property that is ...
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MSRE vs. MBA decision - looking for opinions based on my situation/interestsI know the MSRE vs. MBA topic has been discussed here multiple times, and I have read through the old posts. I wanted to share my situation/goals and see if anyone here could shed some light on some of my thoughts. Me: - Analyst in acquisitions for a large owner/operator (mid/lower tier PERE 50 fi...
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Lone Star Funds - Review - Real EstateGood deal flow..experienced people..friendly staff..fairly young VP ..good travel opportunity..good growth opportunity. No position available at the end of summer..long hours..average pay..seems low vs hours done..important face to face..vs home working...
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Advice/Tips to get into REPE?I am a first year analyst at a small/mid-size commercial developer right outside Philadelphia. Currently, I am on a small acquisitions team and my responsibilities include running excel models, ARGUS models, preparing equity memorandum, observing due diligence process, reviewing leases, etc. for pro...
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Dwight CapitalWhat do people know about Dwight Capital? As in more info about the firm, interview process, office environment as well as exit opps from a company like that. Any relevant info would be very appreciated....
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Georgetown MPRE to REIB?Anyone have insight on if the Georgetown MPRE has decent placement into any REIB groups? Currently in commercial leasing but looking to make a switch. ...
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Exit options from top brokerage firms DP Vs. ISWhat do the exit options look like for debt placement VS. investment sales from a CBRE/HFF/C&W/JLL? ...
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CBRE - Review - Debt Capital Marketsgreat company to work for. considered one of the best real estate companies in the world. all of my coworkers are very smart. hours can get long, but that is to be expected. Your job is tied to the real estate market, so when it's up you're doing well and vice versa ...

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