Silver BananaTopic
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Investors BankAnyone know anything about their CRE Lending which is predominantly on east coast (NY, NJ , PA, etc)??...
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Aerial photography for real estate offering memorandums?Can anybody out there in real estate recommend a firm that does aerial photography for real estate projects? Need a group that can work nationally. Seems like with the drone craze/ advent of cheaper drones there are a lot of people getting into this space and my firm is having trouble finding a reli...
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Looking for Career Advice (3+ Years)Hey WSO, I recently transitioned out of fund accounting and landed a role as an acquisitions analyst in a small real estate firm. From what I've read here and elsewhere, this is somewhat of an unique position. The firm does both market and affordable multifamily, ground up construction and develop...
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HFF Securities NYCDoes anyone have any feedback on the new NYC group? I saw that there was a thread after they acquired Hentschel in March. Does anyone have current feedback on deal-flow/comp/culture? ...
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Real Estate Investment Interview Thank YouJust finished up a final four interview with a RE investment and development firm. I'm looking to make a lasting impression with the follow-up email. What are the things that I absolutely should or should not include, it is a smaller shop so the role would be an associate one and wearing all hats (u...
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What do RE Asset Management Analysts actually do?I've read enough threads on RE Acquisitions to know what the acquisitions analysts do. I searched the forum and most threads were about comp and career paths for Acquisitions vs Asset Management. I understand at a high level what the asset management team does (performing hold/sell analysis, lease a...
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Lenders -- What are some of the various risks you look for at an asset level when evaluating a deal?To all the lenders/analysts at banks, lifecos, debt funds, etc. -- What are some of the various risks you look for at an asset level when evaluating a loan application? Thanks...
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Asset Managers - Where do you find Leasing Brokers add the most value?I'm a pretty green leasing broker in what a lot of people would call a 18-hour city in the southeast. As I learn this market and the business, I'm trying to pay attention to the type of broker I want to be and considering my Math major I have been thinking that I could somehow leverage my quantitati...
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Greystar interview on-campusI'm having an on-campus interview with Greystar. I applied to their investment analyst position in their HQ, Charleston. What shall I expect in the interview? ...
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No Job Luck - Advice?Howdy Monkeys, I am a May '17 Grad from a Big 12 school in TX looking to start my career in Houston, Austin, or Dallas. All of my networking has been in Houston, and I seem to have cast a pretty good net. However, I am not having any luck finding a job. I have a strong resume followed with a stron...
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Underwriting Multifamily Value Add and Development Deals So I currently work at a student housing developer and am starting to develop a good understanding of what the key metrics are when looking at new markets for development. However, I have been wondering what the key metrics and underwriting criteria are for multifamily market rate and luxury value a...
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Family Office: Jack of All Trades JobI work for an early stage family office... if you want to call it that. The family owns a business that does $1 bil+ a year in revenue and has a RE portfolio that's also worth $1 bil+. I am technically employed by the family's primary operating company but my job entails a lot of family office style...
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Living in NYC on a CRE salary - Advice?Hey Guys, Appreciate any feedback. I'm starting as an analyst in CRE IS/Capital Markets at a pretty solid shop in Manhattan. My max rent is1250 a month if I don't want to go over 1/3 take home salary. But...the hours will be long and if anything on par with certain jobs on the street and I feel li...
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Cap rates in Harlem NYCHi guys! I am reading up on NYC multifamily market and unfortunately do not have access to paid databases. I would greatly appreciate if someone could advise on what sort of cap rates you would observe in Harlem area right now? Many thanks in advance!...
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HFF Analyst vs. Berkadia AnalystI am located in a top 3 market for both of these groups and was wondering how the two differ for a debt analyst in terms of: 1) Culture 2) Deal Flow 3) Compensation (at analyst level and beyond) 4) Product Type/Focus Any other information is greatly appreciated. ...
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Company Review: Altus Group - Altus Group - Valuation ConsultantGood environment, good work culture, cool people. Really liked how my manager delegated tasks. It was better then what other teams had. Some would just dump everything on you. Mine would give it to you in chunks and was efficient with time management.. The work is not glamour. Its kind of boring and...
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Seeking Larger Nashville Multifamily Deals (80 units plus) Gents--I work for a large national multifamily owner/developer ($10B+ AUM) interested in expanding in the Nashville market. Seeking a portfolio of 3-6 deals (need operational scale to enter a new market), no single deal smaller than approx. 80 units. Looking for built product, maybe including one de...
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Best way to build your net worth in REIf you're trying to get into the hundreds of millions in net worth through real estate, how do you go about doing this? I was looking at a real estate companies financials today and saw that the owner had like 7 million in equity, and then there was non-controlling interest equity around 50 million....
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Company Review: JPMorgan Chase - JPMC Retail ReviewThe best thing about working in JPMC is the culture. Because there are many LOBs, and people come from various backgrounds, it is not ultra conservative like similar BBs.. Similar to any other firm in the industry, there are annual lays offs, even during good times due to re-examining budgets. JPMC ...
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GTIS PartnersWhat do you guys know about them? Culture? Hours? Comp? Deal flow? Any info appreciated. ...
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Tishman Speyer MBA Leadership Development ProgramThoughts? Has anyone been through this program? Does anyone know someone who has or know anything about it? ...
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Food Hall Models (Indoor and Outdoor)Due to overwhelming demand by WSO members seeking to improve the quality of grocery shopping for people worldwide, I've attached the two models I have. One is for an indoor market and the other is outdoor. Highly recommend reading a couple of the market case studies on Project for Public Spaces' (PP...
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MBB to REPE Hey all, wanted to see what feedback this forum had for someone in my shoes. I've worked at an MBB for the past year. I've been incredibly happy with my experience thus far but don't see myself doing this long term. Wanted to see if anyone has had success or knows anyone who has made the jump from...
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MSREI SFHas anyone heard back after the MSREI SF SA first rounds last week? I haven't seen anyone really talk about them but I would assume a few people on WSO are in my position as well....
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Research Analyst - Entry Level Hello All, I have a phone interview next week for a research analyst position at a big firm (JLL, CBRE, Cushman). The main point is to explain my skills and experiences, I was a finance & real estate major and have interned on a residential real estate team. This would be my first real job in CRE ...
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Amazon HQ2 LocationAlright folks, let's have everyone's best guess (or inside knowledge) of what city the new Amazon HQ2 will be located. I am going with Denver and Colorado Springs. The culture is really great Marijuana is legal Plenty of other large corporations have their HQ there The cost of living is much les...
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JP Morgan-CREHey all, anybody here apply specifically to their CRE team for the summer analyst-2018 position? When did you hear back, what did you get asked in the interview? And any opinions on their NY office? Will you work on all product types- office, multifamily, retail, industrial, hotel etc? Thank you!...
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HFF vs Eastdil Comparison (anticipating future UK dynamic)With the advent of HFF setting up shop in London at the beginning of this year, I thought it would be interesting to see a detailed comparison of the two firms over in the US to gain an idea of the likely dynamic once HFF establish themselves. Working culture? Services? Exit opps? Deal Size? Domina...
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REIB SA Opportunities?I'm a non-target junior at a TX school (Rice/SMU/Trinity), 3.9+GPA, spent last summer as a SA with a developer. I want to get REIB experience so that I can exit to REPE or RE private debt down the road. It seems like most BBs are done recruiting for all of their groups, so what would be some go...
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Mezz lending outlook for the next few yearsJust wanted to get people's thoughts on mezz financing in real estate, and the outlook for mezz lenders/originators in the next couple of years, given where we are in the cycle. I am searching old threads as well, but wanted to see if anyone had any current insight. Might have an opportunity at a sm...
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Addressing Capital Recommendations in the Property Condition ReportLooking at an off market office property, owner has owned for 10 years, and has not done a PCR since they originally purchased it. 70's vintage, definitely B/B- quality, walked the property last week and it definitely needs capex, both elective and required. That being said, without having the ben...
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Most technical Real Estate companiesI was previously an acquisitions analyst who enjoyed the works of creating JV,Waterfall, Real estate models, using ARGUS. I was wondering how much more technical real estate can get and which firms are the most technical/prestigious. What do these prestigious firms do? I understand that at the end...
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Company Review: Eastdil Secured - Eastdil Secured LAGreat Training Program that runs through the tasks that an analyst would get assigned to on an everyday basis.. Not the usual live deal experience like at other firms. A lot of down time that could have been used for other tasks....
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What is a "realistic" expectation on carried interest as part of comp package?Seems like once you reach the VP/Director of Acquisitions level, receiving carried interest as a portion of comp package becomes more standard. I'm curious as to how this piece of the comp stack is quantified (which I'm assuming could be highly lucrative depending on the performance and number of d...
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Company Interview: Guttenberg Housing Authority - Summer Intern at Guttenberg Housing AuthorityThere were no extremely difficult or unexpected interview questions. I was asked to give examples of times that I needed strong time management skills in order to handle multiple tasks. He also asked me about my experiences working in teams. Perhaps the toughest question was about leadership skills ...
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Goldman Sachs RMD Superday 10/26/16Hey guys, I recently was invited to a super day for Goldman's 2018 Summer Analyst position with the US Real Estate & Loan Asset Management teams at the Irving office. What tips do you have to prepare? Do they have any specific values that they are looking for in their candidates? Which technicals sh...
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first round RE PE junior interviewHi all, I have been invited to a first round telephone interview with a real estate private equity fund one of the big ones e.g. Blackstone, KKR, etc.. I am still an undergraduate so this would be for a junior role straight out of university/college and I have no idea what to expect. I was wonderi...
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Considering career pivot into real estate and concurrent education, any tips?I currently work in an industry that is far removed from real estate, finance, or banking as I took an opportunity to work in a family owned business. As this endeavor winds down I'm looking for professional opportunities elsewhere, primarily in real estate. Unfortunately, I have absolutely no e...
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Portfolio Analysis - Excel ModelI am looking to build a model in excel for CRE Portfolio Analysis. Not looking for an "investment/acquisition" model but more of a "historical operational" model. The intent of the model is for my Managing Director to get a snapshot of a portfolio at the Asset Management level. Looking for performa...
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[Meta] Does anybody else think it sucks having company reviews posted as if they were forum threads?What a horrible feature. Just spams up the forum page with shit I don’t care about and knocks threads down the page prematurely. I would even bet that forum commenting activity is down since they implemented this....
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Brokers/Principals using Marketing PlatformIs it safe to say that any deal on RCM, Co-Star, CBRE Dealflow, Loopnet, have already been shopped around and they aren't exactly GREAT deals? How many people do you brokers/principals go to off market before putting your disposition/listing on these sites? ...
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What's going on in the Market? (NYC, and National)Hey guys I have a couple interviews coming up for summer analyst positions at a couple real estate firms. I was just wondering how best to answer the questions. A similar question would be to pitch a market/ Asset type. I'v done some preliminary research but would really appreciate the answers of so...
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Borrowing a Balance Sheet - How to priceIndividual has assembled multiple parcels, spent time and $$ getting entitlements for mixed-use project. His desired plan would be to build it out, refinance, and hold it longer term. Entitled land value (based on residual valuation and sales comps) is roughly $10MM. Total cash basis in the lan...
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Summer Intern 2nd round interview with JLL/HFF/Eastdil. Any interview tips/insight?Hey guys, I was told the interview will be with a few analysts and would be technical. Are there any specific technicals I should know if I wanted to work for one of these companies? What would be the best way to prepare for this interview. Any insight would be greatly appreciated. ...
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Comp questions for debt/equity shopsI'm considering talking to a few debt/equity placement firms regarding job ops, after spending 10+ years on the principal side doing acquisitions. Looking at boutique type groups rather than the HFF/Eastdil/Cushman types. At the point in my career, I'm sorta burned out on the acquisitions side, ...
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Investment Sales Broker AMACurrently been working as an investment sales broker for four years specializing in multifamily, mixed-use, and development sites in the 1-30 million space in NYC. Go ahead, fire away. Oh, and if it counts for anything, I worked for three years at a prop trading desk in Chicago....
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Company Interview: Blackstone Group - AnalystThe interview asked what a capitslization rate was and also what the difference between all types of asset classes are. They had me compare the values relatively of each an office, residence and a mized use parcel available for development. It was interesting because the interviewer walked me throug...
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Company Review: JPMorgan Chase - GreatCompany does a lot of deals so I get a ton of exposure to various facets and companies in the real estate industry.. I have nothing to criticize of the company. I have learned a lot and the people there have been extremely supportive....
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Venture: When will you start?Recently read the post about using an FHA loan to start experiencing ownership of real estate. At what point do you plan on venturing off on your own? What would you like your first project to be? It seems every analyst I've met has some sort of exit plan. On the other hand, how many of you plan t...
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Multifamily loansIf I wanted to learn about all of the different loan programs and financing techniques used in the in the multifamily jndustry where would I go. I know about all of the industry publications like multifamily housing news, etc, but I want to dig into these loan programs and get a deeper understanding...
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Please advise !! Got accepted Into MRED program at Columbia , Cornell and NYU ? Really confused I applied to the Real Estate Masters program at Columbia, Cornell and NYU for the Fall 2016. And by gods grace got accepted in all three program !! Now I need your help guys as I am really confused. Some detail about the about the programs - Program Length - Columbia 1 yr , NYU - 1.5 yrs , Cornel...
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Landing a Brokerage Job out of CollegeHey everyone, long time lurker, first time poster. I am looking to land a CRE brokerage job right out of college, and would appreciate any tips/advice to stand out. I currently go to a state semi-target with a liberal arts major and shit GPA but stellar extracurriculars. I hold a broker's license in...
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Opinions on potential move?Hi all, I've currently got an interview lined up at a firm that I am not 100% sure about and any opinions on what I should do would be much appreciated. Before I outline my dilemma, here's a summary of my current background * I am currently working as an analyst in an investment team in a big 4 ...
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Has anyone here built wealth through FHA 3.5% downpayment 4-unit loan?[quote] FHA will finance a 4 unit home with only 3.5% down. The rental income of the 3 remaining units is calculated as income and assists buyer for qualifying. Like all FHA home loans this is for owner occupied homes only meaning you will need to live in the property. There is no maximum sales pri...
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Least Restrictive Asset ClassHi all, After doing some preliminary research, I have been unable to find much information regarding the issue that I am currently facing. I am about to begin my brokerage career in investment sales in a primary market, and I have a couple of options to choose from in terms of the asset class that ...
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Real estate ModelHello, I am trying to learn real estate modelling, I came across this model, I understand most of it bar 1 point. Kindly go to Modeloff website -> questions ->"Investment Property Maximizing Your ROI (2012)" Apologies as I am not allowed to post links --------------------------------------------...
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Blackstone - Spanish ResidentialOver the last severla years, Blackstone's real estate group has invested billions in the Spanish housing market (primarily in assets in Catalonia), with their most recent transaction being a majority (51%) acquisition of Banco Popular Espanol SA's real estate portfolio, just two months ago. At the ...
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NMHC OpTech ConferenceAnyone going next week? Firm's sending me by myself, so I would love to connect with fellow WSO'ers. ...
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Company Review: Wells Fargo and Company - wfs reviewCompensation, deal flow, collobarative team environment, networking opportunities, exit opportunities. Face time requirements, deal teams can get oversized at times making work more inefficient due to duplicative roles...
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Recourse in Affordable Multi-Family Projects Has anyone seen any structures or could give some feedback on how to limit developer recourse for affordable development (think 4% LIHTC) from either a legal or economic position? ...
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Company Review: Accenture - SatisfactoryOverall pretty happy. Interesting work with high profile clients is a plus. Smart colleagues make day to day activities fun!. Lack of employee recognition is an issue. Often feel like I'm an expendable analyst (which I understand I am). ...
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Wells Fargo CRE Exit Ops Given Current SituationHey guys, What do you think about interning at Wells Fargo in CRE given their current predicament? Thank you so much! ...
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REIB in NYC?I'm curious as to how many boutique (or just non-BB banks) REIB firms there are in NYC. Obviously HFF just bought Hentschel to propel their HFF Securities team, but I don't know of many others. There are shops that market themselves as REIB, but don't actually perform IB work. For example, I intervi...
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Wells Fargo Summer Financial Analyst Program - Commercial Real EstateHey guys, I'm semi-new here as I don't post much, but I have been around reading the forums for the past year and it's been a huge help. I am currently applying for the WF Summer Financial Analyst Program for CRE and was looking for some advice. The job description of my career services website d...
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Recommendable Architecture Books? Does anyone have suggestions for good introductory architecture books? I'm starting a project management position for a developer and, although I know it isn't necessary, I would like to have some architectural knowledge. Not looking for something academic, but something educational, at least. App...
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NYC Real Estate InternshipsAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA...
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Question for Acquisition GuysWhat are the first 5 things you immediately begin digging into when you get an Argus file from a broker for a potential acquisition? I recently started an acquisitions role for a smaller group with no real underwriting policies and procedures or manual. I have a little bit of acquisitions experience...
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Entry Level Question: Property Manager to Real Estate Investment side. How to transfer?Hi guys, I was an Property Manager in a local family real estate trust company in Encinitas, CA since I graduated last June, the job was really interesting because my boss was one of the world's greatest commodity trader who likes to keep a very low profile. So getting to work and learn beside him ...
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Advice for College Student Seeking Career in CREHello, I am a student at Temple University (non-target) in Philadelphia. I am double majoring in finance and real estate and want to work as a commercial real estate broker. I have five semesters to go including this one so I still have two summers to secure an internship. I need advice on how to ...
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PGIM RE vs. Morgan Stanley IB vs. PNC Capital MarketsHi all, I've been fortunate enough to be offered roles at the places mentioned above for their summer analyst programs and I'm having a hard time deciding. Long term, I'd like to do REPE and eventually venture off on my own to do developments and build my own portfolios; however, i've never had ex...
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How do I (CRE broker) get hired/poached from (JLL,HFF,CBRE) to other competitors (JLL,HFF,CBRE)?For privacy reasons I currently work for one of the 3 stated in the title. I started off with a team as an associate and currently grossed nearly $1.5M this year and $1M last year, which accounts for almost of half of my team's annual revenues. I am unhappy with the team and the current firm because...
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Company Review: Wells Fargo and Company - SatisfiedGreat people and you acquire modeling/analyzing skills. The hours are super easy, averaging 45/week . Your learning curve may plateau after a year or so. Likely why this group has a high turnover in its analyst class. ...
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JLL Capital Markets AnalystHi all, Looking at a job opening as a multifamily capital markets analyst at JLL. Any idea what the pay is like in a west coast market? I know they typically start around $60-70k but what would the bonus be like? Also, what kind of things will I need to know for the interview? They ask for financia...
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Credit Analyst at Community BankI would like to transition into a Credit role to gain some underwriting experience (specifically multifamily) and really like the deal volume banks have along with the work/life balance. I'm seeing a lot of community banks with Credit Analyst positions. How are these roles? Ive never heard of some o...
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Waterfall Pref QuestionDoes anyone have a model or know how to calculate a multiple-hurdle waterfall where GP and LP invest capital at different stages of the deal? (Basically, GP and LP are not putting in $ at the same time so therefore the pref on each starts at different times) Thanks!!...
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Debt automartisation and interest calculation, need help!Hi guys, anyone could tell me if the I correctly calculated payments in highlighted? (Term of debt is not given, only holding period). ![Interest][Interest] [Interest]: https://ibb.co/d4m6fb ...
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IRR/Waterfall QUestionDoes anyone have a model or know how to calculate a multiple-hurdle waterfall where GP and LP invest capital at different stages of the deal? (Basically, GP and LP are not putting in $ at the same time so therefore the pref on each starts at different times) Thanks!!...
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Company Interview: Avison Young - Brokerage Support AnalystMost difficult questions asked were what I would look for when prospecting for new clients and what I would in a pitch for why the prospect should hire our firm. I wasn't aware I would be interacting in client pitches because I didn't have my license and in the end I didn't end up participating but ...
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"JLL Project and Development Services"Hey guys, I'm currently working in RE lending as a credit analyst and would like to eventually move into development. Construction loans have always been my favorite and I think it would be a rewarding career - I like the upside possibility and entrepreneurial nature. One thing I like about my ba...
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Company Interview: Related Companies - internThe hardest question was "how does your experience line you up for this position" because they look for a certain type of credentials and if you are missing it youre out. If you go for development analyst you better have IB experience minimum and preferred PE experience. You also most likely will ha...
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Blackstone Real Estate Asset Management - AnalystHi, I had some questions about Blackstone Real Estate AM : 1 - Besides brick-and-mortar real estate, Blackstone is also buying companies. What is to be the asset manager of a real-estate operating company vs an individual asset ? What type of tasks do you perform concretely ? 2 - How close the ...
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Top 50 REPE 2017Read em and weep boys. I think it was just published today. Top 50 REPE 2017 Blackstone holding the #1 rightly so with Jonathan Gray still slaying deals. Notable moves to me are PGIM, CBRE global investors, and Cerberus. I know Prudential has been recruiting hard recently for the PGIM and PM...
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Capital Market Analyst at a real estate finance companyHey guys, I'm preparing for Capital Market Analyst interview at a small real estate finance group in the NYC. When it comes to capital market research, all I can imagine is to build a database and monitor the CMBS/RMBS/SFR/REIT market and then come up with a report w/ recommendations to institutio...
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Real Estate Market OverviewCould anyone help me with a quick overview of the US commercial real estate market. Could be anything in terms of trends and strengths and also individual asset types....
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EY Transaction Real Estate SuperdayHi everyone, This Friday I will have a superday with EY's Transaction Real Estate team. There will be 3 behavioral interviews and a 30 minute excel test. I believe that I will be fine on the behaviorals, but does anyone have insight into what to expect for the excel test portion? I have a solid und...
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lbo of a real estate companydoes anybody of you have a lbo model to acquire a real estate company? I have to do a case study for a REPE...
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If you had 500k cash to invest what would you invest it in?------------------------------------------------------------------------------------------------------...

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