Silver BananaTopicReplies
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2019 FT Analyst recruiting timeline - Real Estate Hi, I'm a rising senior at an elite liberal arts college (think Williams, Pomona) with a STEM major. I worked in a merchant banking group at a family office this summer, and am looking to take my buy-side experience to REPE, development, owner-operator investment firms, REIT, etc. Hoping to cast a ...
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CBRE Capital Markets ProgramDoes anyone have any idea on this program? The marketing material does not go into that much depth, however seems like a stepping stone to the investment sales side. Also wondering if this is more of a placement program, where you get placed into different areas in Capital Markets at the end of the ...
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What is included in the Reversionary Yield, Equivalent Yield and Running Yield calculations?Hi there, What is the correct calculation for the following yields: Reversionary Yield Equivalent Yield Running Yield Many thanks,...
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What is included in Net Rental Income calculationHi there, What is the correct calculation for net rental income: NRI = Rent – Vacancy NRI = Rent – Vacancy – Rent-Free Many thanks,...
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PGIM Real Estate Finance - Review - Asset ManagementCompany offers great benefits package, especially for families. Just implemented 10-week paid maternity paternity leave.. This is a large ship that makes very slow turns. Company is slow to pursue new or exciting business prospects, often trying to use internal talent instead of bringing in the ri...
Jones Lang LaSalle - Review - Real EstateThe company emphasizes work life balance and provides excellent training opportunities. The culture varies by office, but in my experience collaboration was encouraged.. The compensation structure was not transparent. Senior Leadership in each specific department drove the overall climate and mora...
Kennedy Wilson - Interview - Real EstateThe interviewer asked my opinion on a market that although I had included on my resume and lightly researched at my prior position, had never actually been to nor done a deal in. I was able to formulate an intelligent response that I think they agreed with. The second more difficult question was ask...
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Real Estate PE Technical Interview Question - Case StudyRecently I was invited to an interview where I was asked on the spot to build a real estate financial model with the following assumptions: NOI of 1 million Purchase at a 7% cap rate Expense margin of 45% Revenue Growth Yr 1: 7% Yr 2: 6% Yr 3+ 3% Expense Growth: Yr 1: 5% Yr 2+ 3% Acquisition clo...
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What would be reasonable equity compensation for arranging financing for a real estate investor?So I may be putting together a fund/line of equity for continual purchases of property for an acquantaince who buys and rents out homes. Is 3% equity in the properties fair to ask for? My responsibilities are basically to put together a good presentation of his current business and pitch it to fr...
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Am I crazy to turn down a chance to work on luxury high-rises?I'm a project manager with an opportunity to work on luxury high rises for a relatively small development shop, and they have a line up of towers I could work on for the next 5-10yrs. These guys are shaping the skyline of my city (2-3 million population). Base pay is 25% less than what I would like ...
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Greystar Analyst TestHello, does anyone happen to have any information on Greystar's Analyst test? Thanks in advance!...
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Goal is to do real estate acquisitions/ asset management, seeking adviceHi everyone, I'm interested in pursuing a career in RE acquisitions or asset management and am a current college junior at a top state school (Umich, UVA, UNC etc.). What is the best way to get into this field-- should I be looking at a general banking internship at a BB to jump over to a big REPE f...
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CRE Development - underwriting a marketHow do you underwrite a market to know if it's a good potential opportunity with landlord friendly requirements? I am looking for additional information more than rent growth, absorption, vacancy, etc to understand tenant wants and needs in a submarket. Reason I am asking is the CRE investment sho...
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Real Estate Finance Certificate..waste of money?First off, not expecting a certificate to be a miracle worker..just trying to get some advanced learning and show some initiative on my resume. Also, the certificate I am looking it, you can transfer credits if you decide to do the Masters or can transfer to possibly another school in area. Just tr...
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DDR Corp.Does anyone have any experience working at or with DDR Corp.? Or have any insights? I just recently had a phone interview for the financial analyst position in NYC. To be honest, from what I read online about the firm it doesn't sound too great and I'm not very interested in the position. Their exe...
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Fundrise: Raising Real Estate Capital Online - Thoughts?I've known the crowdfunding firm Fundrise for a while now, but never really looked into it: https://fundrise.com/ Basically you go to their website, select a deal you like, and invest cash ($5,000 minimum), without physically meeting the sponsor/operator/developer. It's like buying stocks online bu...
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Cushman and Wakefield - Review - OtherExcellent company, provides great value for clients. Strong culture focused on development. Company has many happy people. . This industry can be difficult for people to break into without comfortable background or connections...
CBRE - Interview - Real EstateWhy would you chose to be an analyst instead of being a broker? What would you do to develop a relationship/gain the trust of our brokers? Where do you see yourself in 10 years? What do you know about real estate markets? How do you prioritize multiple projects at once, if both are given to you ...
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What is a Financial Analyst anywayAt a small to mid-size firm are there different kinds of FAs, different responsibilities etc? At my firm the role is very broad from doing financings/debt, doing the development modeling, tracking the equity draws, reporting, presentations etc. I touch upon most of the food groups(leasing, debt, f...
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Politics Major to begin an internship as an analyst at a Real Estate Investment Firm - Need AdviceHey everyone, I recently landed an internship at a Real Estate Investment firm as an analyst. Even though I was told that everything can be learnt on the job, I fear that I'll be out of my depth when I begin, especially because I'll be working alongside analysts with prior knowledge and experience....
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NYU Real Estate Certificate - Thoughts?Has anyone completed the real estate online certificate through NYU? If so, would you recommend it to someone who has been in real estate for over a year? ...
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Need help who generally goes to market and gets pricing for Environmental Phase I ESA and Property Condition Reports services I am registered geologist and I have been in due diligence word on technical side for over 20 years providing advice to help close deals from the environmental and engineering consulting side. In my new position with a national provider I am working for is asking me to go generate leads for new proj...
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What is life at Corp RE like?Hey guys, curious on your thoughts. Most of the stuff on here is acquisitions, AM, PM, at REPE firms and such but what about positions within corporations RE department. Just for example..real estate at let's say a non RE firm like a Johnson & Johnson. Are there any good exit ops or are corporate ...
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RE PE within family office of founder of one of the mega PE shopsAll - I am considering joining the real estate arm of a newly-created family office (sponsor is the founder of one of the mega PE funds). I'm having trouble evaluating the comp structure they've offered (cash comp of few hundred K + a few points in the RE business - uncrossed deals). The cash comp s...
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Goldman RMD: Apply now (late to Period 1) or wait until Period 2?I realized that I'm a bit late to the game on FT recruiting for REPE-related roles. I recently found out about Goldman's RMD Analyst program and, upon checking out their website, found that there are a few application periods. Period 1 began on July 1st and goes until September 15th. Period 2 begins...
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To what extent will you be expected to model for summer analyst?I'm currently applying to different summer commercial real estate positions as an undergrad. I'm applying to most big banks that offer summer real estate related positions whether it be lending, acquisitions, i banking etc. I also plan to apply to CBRE, JLL, Cushman, Colliers etc. for their junior s...
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Need advice - would working holiday visa jeopardize my career?.......................................................................................................
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Investment Sales -> Real Estate Investment BankingHas anyone heard of a investment sales analyst going into real estate investment banking? Let's say after 2 years of I-Sales someone would lateral to an analyst role in REIB? I know the modeling is different, I-Sales very asset level, and REIB more portfolio level, but I would assume there would b...
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NCREIF Returns - Anybody have a recent Q2 report or advice on tracking to benchmark since inception?I'm trying to compare my firm's returns to a benchmark and align with a since inception date. I'm having hard time finding NCRIEF historical returns I'm looking for, like 2-3 year data. Anybody else tracking fund returns here? I used to be able to get the 3-year index return, but seems they only...
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IS Analyst vs Capital Markets Analyst? I am just curious from reading through all of the threads if an Investment analyst could be interchangeable with a Capital Markets analyst within the big three brokerages (CBRE/JLL/C&W)? Appreciate the feedback...
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Real Estate Certificate Programs Hi, Are there any real estate certificate programs that covers what an undergraduate degree would cover in around 3-4 months from reputable universities? Obviously not a whole undergraduate degree, but programs where someone who didn't take it in undergrad could go (or an online program through the...
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RE Finance Training/Certification ProgramsI'm a consultant with no RE finance knowledge or skills but want to learn so I can transition onto RE projects/future career moves. I was looking into certificate programs through various universities but don't want to break the bank. This lead me to ULI and REFM courses/certifications. Any advice/s...
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Luxury Resort to be the first major CRE asset to be "tokenized" in the US. https://commercialobserver.com/2018/08/aspen-st-regis-blockchain/ Elevated Returns, that owns St. Regis Hotel in Aspen is partnering with Indiegogo. ...
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whats the difference between a REPE vs landlord/property developerhi was wondering if someone can explain the difference between what separates a real estate private equity fund to a buy to let company/landlord/property developer? thanks...
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Tenant Credit Underwriting - How do you look at very small private companies <$10M EquityFor those in acquisitions/capital markets, how are you underwriting small private tenants? What are you looking at specifically? Are you incorporating any custom quantitative models? Any materials/models you could point me too? Background for question: I work in NNN/NN retail/office development....
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Real Estate Acq Excel Model TestHi all, I recently did a 2 hour long real estate acquisition excel model test. I didn't do so well on it, but i am very eager to learn from my mistakes. I plan to share the excel test here. I would greatly appreciate it if someone can help me figure out the answers to the test....
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NvmNvm I forget what I was gonna say now just filling up characters with bullshit til I hit the minimum....
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CadreAnybody know someone that works at Cadre? specifically on the RE investment side. Can't find much online but sounds pretty fascinating....
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Getting a job in acquisition (REIT/REPE), in a core market, as an international with MBAHi guys, I'm looking to find my way here and in general :) Background [8-10 yrs] in brokerage, top tier, small market in Europe. Looking for an MBA in a top 10 US program, and then to work in acquisition for REIT or REPE in a core market in US. How realistic is that? What should I know beforehand? ...
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From Tech to Real Estate Investment?Hello, I am Sophomore studying CS at a top tier college in the US. As a result, much of experience I have is related to data science and programming. I have done 'big data' machine learning at BB and research at my school's business school. I have a very good GPA. I have been interested in Quant i...
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How much do your bosses make per year?A majority of us are analyst/associate level. I've read through the salary thread on this forum and most of the postings are from junior level. I thought it would be beneficial for most of us to see what jobs down the line are making. Obviously, these are not going to be spot on and be closer to a r...
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Real Estate Entry Level Private CollegeIm a senior undergraduate at a private College school and I am looking at jobs within the Real Estate field. I have a pretty good understanding of how the different entry-level positions actually function within the industry, but I'm not sure how they would translate to jobs in the future. I was ho...
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Question on a refm problemI am just trying to educate myself by going thru the refm courses. In the attached image, what does "excess proceeds to equity from refinancing" mean ? I know that it derives from the difference between $356,250 and $315,000, but what does it mean? why is it tax deferred "play money"?? The videos on...
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CRE Brokerage technology and know howsI'm becoming more and more interested in starting out at a CRE brokerage and think it would be a great place to start out and get to know the industry. I was seeing if there was a specific kind of software or tech that a lot of firms use in brokerage that I could learn. Also, I wanted to find out ...
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Multifamily Syndication - Question on Deal StructureHow do you guys generally see the waterfall structures for syndicated multifamily deals? Talking sub-institutional Class B/C stuff that trades for $75,000/door and can be purchased for a 6.5-7.5% cap in markets like Cleveland or Kansas City? The PPMs I have seen over the years on these types of de...
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Structured Finance in real estate brokerage vs banksJust wanted to see if I could get a little context on the difference in these positions, mainly an insight into what a "structured finance analyst" would do in a large brokerage like CBRE/JLL/C&W. I understand that in banks, these analysts are very quant focused as they are essentially developing AB...
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REFM Private LessonsHi guys - has anyone taken private lessons from REFM? I am thinking of shelling over $4.2K to buy their Platinum package which includes 10 private lessons, three different self-study modules, $1K in credits towards different models they have created and other nominal benefits. My background is I am ...
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All my jobs interviewers ask, "do you have any family in real estate" Does a correct answer exist here? Does saying no effect my shot at landing the job? I don't have any family in the industry, would they prefer that i did? I know I might be overthinking this but any input would be appreciated. ...
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My friend is trying to quit his jobSo my good friend, who grew up in SF, started a new job after graduating from his MBA . He wanted to focus on primarily multifamily or retail but was getting desperate for a job and took a position in Ohio. It's only been 3 weeks and he wants to quit because the company will be focused more on resid...
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Do you need a sales license to work at a brokerage? What (if any) are the pros of getting one if not?If I wanted an analyst position at firms like CBRE/JLL etc., are there any pros to obtaining a license even though the job postings say it's not necessary? Just curious cause some also say "preferred". Curious to hear yalls experience with this. ...
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CRE broker compensation If you’re in or know anyone in the CRE broker industry, what position are you in at the firm and what is the structure of your compensation like??...
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Manufactured/Mobile Home InvestingCurious if anyone has any experience in this asset class, seems to be fairly niche similar to affordable housing, but is the general underwriting at all similar to multifamily? I'm assuming it;'s more yield driven due to property cap rates, locations, etc?...
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Multifamily Property Management Firms in Los AngelesDoes anyone based in the Greater Los Angeles area have any Property Management firms that would suggest working with? This would be for a sub-institutional quality asset so I'm excluding the Greystar, Alliance, etc. ...
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Multi-tenant ground up developmentHi Everyone, I work for a smaller PE firm in Austin and am interested in modeling a multi-tenant ground up retail center with flex space in the back. Does anyone have any experience with the REFM development model? Beginning of a site plan I have explored adjusting our current cash flow mode...
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Does Georgetown Masters offer better ROI than other RE masters programs? Tuition comparisonsGeorgetown's tuition is substantially lower than other programs. Obviously, there are far more factors in ROI calculations other than just tuition cost, but Georgetown looks a solid option, if you want to work in DC area. You could intern part time during masters, land FT and then finish degree whil...
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Green Street Advisors - Newport Beach? Is anyone familiar with their consulting/advising practice in addition to overall culture, exit ops, and comp? I know they're well respected within the REIT industry niche, but any additional info would be a big help! Thanks....
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Blackstone Group - Review - Real EstateGreat exposure to various asset classes, ranging from private equity to real estate and tactical opportunities. Gained understanding of multiple sectors such as industrial to retail and office.. Company staff worked independently, sometimes too extreme and thus there might be lack of communication....
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Real Estate Developmeng Modeling Does anyone have any good reals state development modeling classes they recommend? I work for a private development investment firm and have been doing more development than acquisition with where we are in the cycle. I traditionally use Argus for acquisition and have a decent ground up and stabiliz...
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RedSky Capital / JZ Capital PartnersHas anyone heard of Redsky or JZ Capital? The two firms formed a Joint Venture and are currently developing or redeveloping several significant projects in Manhattan, Brooklyn, and South Florida....
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How much does RE Asset Management pay a year?I've was working in CRE banking and now one of the Eastdil/HFF/CBRE/CWs in a major market. Quite frankly, I've a little burnt out with the hours and know brokerage is not for me long term. I'm looking to switch to something with a little more work life balance and am looking into asset management. D...
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Mining Building Stacks w/ Exp DatesAre there any good methods for acquiring and/or updating building tenant stacks without having to call on favors? Most importantly, finding ones with current expiration dates. If that's too much to ask for, are there places where a single tenant's lease expiration / RSF / floor would be made public?...
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MIT 6 Week Online Commercial Real Estate Analysis & Investment CourseWanted to know if anyone has taken the 6-week course at MIT or has heard anything about it in terms of the content they are teaching you, how it looks on a resume, and if you can network with the other students....
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WeWork- real estate analyst?Anybody have any insight on the work experience you will develop as a real estate analyst at a place like WeWork? What are the exit opps? Really appreciate any help or insight! Thank you!...
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CBRE - Review - Equity Capital Markets1. Unprecedented company culture. 2. Entrepreneurial environment in a fortune 200 company 3. Near transition to the companies coveted 360 office conversion.. 1. Currently undefined bonus structure (if applicable) 2. Management understanding of company systems and interconnected uses 3. Cross leverag...
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Mortgage and foreclosure outsourcing companyAllianze BPO Services.one of the best offshore mortgage and foreclosure outsourcing company providing the best quality services to our clients. We are specialized in outsourcing services like deed entry, foreclosure documentation, mortgage claim processing services, title search and form processing ...
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how do I deal source?I'm in a family office heading up the in-house capital group. It's a real estate business, and I need to source deals. I'm a one-man band. I've already contacted all the brokers, and am trying to get in touch with other developers to co-develop and share deals. Anyone got any ideas or tips on deal s...
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CPPIB Real Estate Thoughts?Seeing postings about the firm, what are everyone's general impression of the firm and RE team? All comments are appreciated....
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Advice?? First Career FairI will be attending my first career fair talking to students about my company. Second year CMBS analyst, recent grad. Any advice for the inevitable awkward conversations?? Unfortunately, I wont be hiring for my team but more or less collecting resumes for another group. ...
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Legal troubles; What is the effectCurrently looking at an MF project that we are almost ready to send out an LOI on. It seems to be that the owner may be in some legal trouble. Not sure the entirety of it, but it seems to have to do with people on the planning board of the city, as well as potentially illegal construction loans. Wh...
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Raising Funds/ EquitySo we are a 50+ year old Family Office who recently started doing some high/medium profile ground up developments in the past 5-10 years. We are currently looking to be the GP for over half a dozen different investments we have in the pipeline with several more in the next 5-10 years. Most of our ...
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Multifamily Loan Assumption (Amortizing Debt, assume or prepay?)Curious how those buying multifamily would approach this situation: Off-market deal in Tier I MSA (the submarket is probably a B/B+). Original developer, built two phases (150 units each) and is in process of building third phase delivering next year. Wants to sell the entire 450+ units to one bu...
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Morgan Stanley Investment Management- Real Estate Investing SA 2019Has anyone had an interview for this SA position? This would be a first round. Any insights would be greatly appreciated!...
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Imperium CapitalAnyone got info on Imperium Capital? Curious as to what their company structure is as they have a lot of their employees on 100% commission but in acquisitions....
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Keys to investing in industrial real estate?For those of you with experience in industrial real estate, what are a few of the key things you look for when evaluating whether to invest or not? Any suggestions for good books/articles on investing in the industrial space would be appreciated as well. ...
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MSRE, msRED, other programs - things to look for?Hi, I'm a senior at an elite undergrad looking into my career options headed into CRE. Planning on working right out of school, and probably going to a MSRE or msRED program after a few years. Assuming I can get into the top schools (I go to a top undergrad, near-perfect test scores and GPA, etc), w...
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Full-Time RE Private Equity RecruitmentHello All, Currently a rising college senior looking to recruit for a real estate private equity role (interned at a top real estate investment banking team, received an offer to return but want to move to the principal side ASAP). I was wondering if anyone knows which top real estate private equi...
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VBA MaterialHey everyone, quick question: I'm starting a new role in my firm's CRE business doing asset allocation/portfolio management, etc. There's a fair amount of VBA involved, which as I understood it through the interview process, will be taught as part of the initial training. I already have the VBA for ...
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REPE acquiring or developing Resort/Casino/HotelsHi everyone, Having interned at both a BB (M&A generalist) and a REPE, I realized that I was really interested by the corporate level of RE investing. I would also like to keep the 3 FS modeling knowledge that tends to lack with pure RE player (just investing at the asset level: offices, warehouse...
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Any Insight on STRH CRE IBD?I have a phone interview with SunTrust Robinson Humphrey's Investment Banking CRE group. Does anyone have an insight or information on what their focus is? Not much out there on the google. Thanks in advance!...
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Undergraduate analyst recruiting timeline - Real EstateHi, I'm a rising senior at an elite liberal arts college (think Williams, Pomona) with a STEM major. I worked in a merchant banking group at a family office this summer, and am looking to take my buy-side experience to REPE, development, owner-operator investment firms, etc. Hoping to cast a pretty ...
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Goldman Sachs Realty Management AnalystAnyone have any insight on hours/comp? Company name sounds sexy, but I'm not in RE to work 100 hour weeks....
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Goldman RMD AnalystI am having my 1st round of interview, which will be two phone interviews, with Goldman Sachs for an analyst position under Real Estate Management Division. I saw there were threads from 2014 and 2015 talking about the interview process. But did anyone recently (within a year) interviewed with them...
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Commission Schedules - What have you been seeing?Deal guys specifically - what commission rates are you currently charging/seeing in west coast markets? Brokers, what are you asking, and acquisition/disposition folks, what are you agreeing to pay? I'm trying to get a feel for the different rates in different markets across the west for different...
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Brokerage: Why not start your own firm?Maybe not you specifically, but the teams that are pulling in $1mm+ in fees. I know several teams in NYC whose book of business is their own (especially those in tenant rep or IS) but stay at a firm that takes $350,000+ to print marketing materials and keep data subscriptions paid up. The few I’v...
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Annaly Capital ManagementAnyone know much about these guys? Seem to be pretty big back East, haven't heard much about them on the lending side on the West Coast. ...
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iStar - anyone have any info?Anyone have any info on these guys wrt culture/comp/hours/how active they are in the market? Was contacted regarding an investment role in their NY office. Any help would be greatly appreciated....
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30 minute Excel TestJust like the title says, I have an Excel test "max 30 minutes". HR said nothing crazy, no macros, no VBA, nothing "intense" like that. I'll be given a file, and I have 30 minutes to answer questions and return the file... It's for a MF development shop. Company operates in multiple markets. I've b...
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