Silver BananaTopicReplies
+2
Breaking into Real Estate IB / Asset Level DealsI am an associate in corporate banking (think BMO, RBC, TD) looking to transition to real estate finance or real estate IB at a bulge bracket or doing asset level deals (think eastdil). Was wondering if an MBA (Columbia, NYU, UNC, UTexas Austin, Wharton, UCLA) would position me best for this or an M...
4
+3
BNYMellon (hierarchy/job description)Hi all, I'm new here and think I will be spending a lot of time on this forum in the coming days to do a bit of research. I do have a quick question about a potential job opportunity and career path... So I am a CPA and most of my background has been in public accounting (audit/tax) with a focus o...
17
+2
CPA w/few years of RE experience, what are my options?* I'm a CPA * 6 years of public accounting experience, RE focus * $80,000 salary (Supervisory role) * Audited CRE companies, mainly property management, construction, and developers (plus lots of other non RE companies) * Prepared tax returns * I'm familiar with RE funds and NAV calculat...
18
0
What Are Exit Opps Like For Someone Starting at Small REPE Shop (2.5B AUM)Basically I'm graduating this year and will be working on the acquisitions/development side of a REPE shop with ~2.5B AUM, located in a pretty big city on the east coast. The only thing is, I'm not sure how many Analysts get promoted to Associate ultimately and what I'm wondering is - with in-dept...
9
+3
Job Searching OnlineHey chimps- Looking for a new position and have been trying to find potential opportunities on many sites. I am looking to relocated to NYC and have found that the only real positions that are worthwhile get posted on select leaders. I have noticed that when I search on LinkedIn, Indeed, or Zip-recr...
8
+1
Best Southwest US & SoCal Market Reports/News Sources?What news sources, market reports, etc. do you guys in the SoCal/Southwest US market read? Looking for recommendations ...
1
+2
Mezzanine Loan vs Prefered Equity?Hi guys, would really appreciate any help in simplifying this for me. I get that a mezzanine loan is secured by the equity interest in the entity that has invested in a real estate property, but what is preferred equity secured by? I am not getting it. Thank you so much!...
2
0
Current students/alum NYU MSREStarting this Fall and have a bunch of questions. If any of the above is cool with a long PM let me know....
16
+2
Exits From Dev? I may have an opportunity to convert FT at a single-office smallish development firm that I worked at last summer. It's a retail-focused shop in a good market with excellent managing principals and a solid culture. I'd prefer to do REPE to development, but I wouldn't turn down the job or the paych...
3
+3
Looking to lateral as a RE associate - Advice?Fellow WSO members, I am looking to lateral from my current position (RE associate working on acquisitions) to another firm. What are the best ways to network, find jobs out there? I have contacted several headhunters but received few responses. (current company culture, growth opportunities not wor...
14
+1
AIG Asset Management GroupDoes anyone know anything about the AIG asset management group? It looks like they are hiring for an associate, and I am really interested in. Thanks. ...
4
+2
Find Best Property in Perthhow i can find Best Property in Perth i am looking for villa in perth any one can suggest how i can find this in best price....
1
+1
Multifamily Due Diligence ChecklistAnyone know where I can find a due diligence checklist for apartment buildings? I have a more general commercial real estate checklist but was wondering if there is one that focuses on apartments. Thanks....
1
+1
Employment AdviceHi Guys, I've been lurking for awhile, a lot of great information on this site. My question is, how difficult will it be to transition from home building into commercial real estate? I am currently a Financial Analyst for a home builder in Denver, looking for the same position with a commercial re...
1
+1
Valuations to small residential developmentThrowaway account but I'm a long time lurker. Currently work for a Canadian pension fund in the valuations group. I've been an analyst here for almost 2 years. Our portfolio is global so I've been getting a lot of exposure to many regions and asset classes, I'm really learning a lot and I find the...
1
+1
Abacus Capital GroupYoung team of ex-Greystar guys based in NY. Does anybody know anything about this group that they’re willing to share? Thanks...
5
+1
Jamestown ReputationHi all, I am interested in learning about Jamestown's reputation as a firm. My very close friend recently received an offer from their asset management group and I am trying to help him decide whether it would be a good place to begin a career. Figured this would be the best place to find an answer...
5
+2
Personality wise, what's the difference between a broker and a developer?I've seen some topics around the forum of people identifying other individuals as fit to be a broker or a developer so it got me wondering. What is the difference in personality between a broker and a developer? Shouldn't they be the same?...
4
+5
Track to entrepreneurshipWhat are your goals and how do you plan to get there? What does your ideal career path look like and how will this help you later on in your career once you make the leap? I'll go first. Dev/AM Analyst --> AM or Acquisitions (not sure yet which path I want to take, see strong benefits to both) --> ...
16
0
CBRE - Review - Investment Bankinggood work life balance, flexible vacation as long as you get your work done. nice offices in west LA.. small group in LA not as much resources as you would expect from a big company. little to no training....
0
0
+20
What is your favorite building?For me, I'd have to say the Le Mont-Saint-Michel in Normandy France. Something about a huge castle on a tiny island close to shore. Also the Musée d'Orsay in Paris. Brings be back to a different time. P.S. Not french Whats your favorite building? Can be both new and old. My favorite new one wou...
79
+2
Transitioning to Acquisitions/Development (GP) from CRE LendingHey WSO - after ~2 years doing balance sheet lending in a Tier I city, I've been fortunate to secure an associate role at a GP working on acquisitions and development in said city. I have a few weeks before I start and was wondering if anyone has made a similar transition. Specifically: How exactly...
1
+1
Private REIT vs Real Estate Private Equity Fund Can someone explain to me the difference between these two? According to NAREIT, a Private REIT: "Private REITs, sometimes called private placement REITs, are offerings that are exempt from SEC registration under Regulation D of the Securities Act of 1933 and whose shares intentionally do not tra...
4
+3
Which job would lead to the best exit opps?Hi guys, Currently in my 3rd year, the following are all summer internships, which one would be the best from the POV of finding a REPE job once graduated? What about a development job? 1. Commercial Banking - Commercial Real Estate , at a top 5 bank 2. A large lifeco/pension fund - investment an...
8
+2
Buyer Broker Acquisition Fee - What’s Market?We are looking for boots on the ground knowledge of a certain submarket, and are willing to pay for assistance in sourcing/assembling development sites. This individual has relationships in town as well. I asked that he send his standard agreement over for our counsel to review, and noticed he wants...
6
+4
Parents Buy Property for me to rent: Good or Bad Idea?Parents are willing to buy a 2 bedroom in NYC for around $400-600K with the intention of letting me live there. I would pay rent to them and would gain equity value in the apartment. It would be up to me to keep the other room occupied with roommates/maintain it. I'm 22 so the thought of committing ...
16
+1
60 Guilders LLC? Hey guys- anyone familiar with this shop? They are in the news today as they are slated to buy more NYC retail despite having bought two properties for $125 million over the last few years that remain vacant. Any insight into these guys would be greatly appreciated. ...
1
+2
XIRR vs Effective Rate IRRAny thoughts/preferences on using the XIRR function vs Effective Rate IRR when modeling development projects? Both account more time value - is one more accurate than another?...
4
+3
Modeling returns for GP investors who aren't the development groupAs a buyside analyst I normally see JV deals from the LP investor angle, but now as a favor for a developer friend I'm trying to model a deal in which the GP sponsor's 10% equity will be comprised of a bunch of smaller investors. This will be a JV deal with a promote, so what's the most straightforw...
8
+2
Israeli Bond OfferingsSo a few of the sponsors in my portfolio of loans have been doing Israeli Bond Offerings the past several years to raise capital for development projects at really low interest rates. Is anyone familiar with this? Just curious why Israeli investors are taking on this much risk, other than diversific...
4
+2
Structured Finance PrimersAnyone have any primers on structured investments/finance in the context of CRE? Specifically opportunistic equity distressed loans, preferred equity, and subordinate debt investments....
1
+1
Best city in Canada for CRE ops? Hey everyone, I've been trying to break into the CRE industry for the last year. not too sure if i'm in the wrong city for ops or if Canada just isn't the place for CRE but according to a quick search on indeed, It looks like the ops are in these cities as follows: Toronto, Vancouver, Edmonton/Cal...
3
+1
Fortress Real Estate InterviewI am interviewing for a position as a real estate analyst with Fortress Investment Group. I would assume it is commercial real estate but I am going in fairly blind. Can anyone give me any info? Any perspective or thoughts would be helpful and much appreciated....
31
+3
Better entry role into commercial real estate: Asset Management or CRE Credit Analyst (MM Bank)First time poster. I've been trying to make a career pivot from consulting into commercial real estate. I have two very different interviews, and was hoping to get insight from individuals who are/have performed in similar roles, and the better exit opportunities. Given that I'm currently pigeonhol...
7
0
PwC PricewaterhouseCoopers - Review - Real EstateGreat work life balance. Awesome compensation for certifications and a culture emphasizing learning and development. Compensation is on the lower end for consulting work. Interviewing process was somewhat disorganized....
0
+11
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...
26
+1
JP Morgan ChaseJP Morgan visited my university and gave a presentation regarding the company and it was very interesting. They had a chance to interview students and give them offers for internship opportunities....
1
+1
Transitioning from REPE towards a broader range of Real Assets Hey guys, has anybody here transitioned from REPE (asset and portfolio level investments) to a broader range of real assets such as solar farms, infrastructure, timber, agriculture, etc. If so, how hard was the transition? How would you recommend getting up-to-speed on accounting, modeling, and over...
2
+4
Online Excel VBA CoursesDo you guys have any recommendations for an online VBA course? I see there are YouTube tutorials and cheap programs, but I want the good stuff. Anyone have any strong recommendations?...
10
+1
Real estate lead ProvidersThis is a very simple question, but its answer is not simple and not clear. Lead generation and the demand for it, while not new, has become more prevalent in today’s market...good suggestions are given in this post regarding it! Got to learn much from this post!...
1
0
+1
Investment Pitch Help - InterviewI have been interviewing with a smaller real estate investment advisor and he is coming to my university (he is alumni and has other business) and wants me to give him "an elevator pitch, as well as the 5 minute pitch", by choosing between 2 different properties. I do not have much experience at al...
2
+1
Exit ops from a CRE bank - mortgage banking / REPECurrently an analyst at (BB&T, Regions, SunTrust) in their CRE group working on the relationship manager track. Lots of deal flow and underwriting. I'm wondering about my exit ops if I'd like to go into either debt/equity brokerage (Eastdil, CBRE, Northmarq, NGKF) / REIT(Vornado, Empire Realty Trust...
1
+2
REIT Compensation and REIT -> PERE TransitionDear all, I am a second year MBA student in Chicago (Booth/Kellogg), and received an offer to join a REIT in NY, paying $135k base and a target bonus of 20 - 30%. Judging from comments on this forum in earlier topics, this seems a reasonable number. Would it make sense to negotiate in order to bump...
2
0
Starwood Capital Group - Interview - Real EstateIf you had two identical buildings next to one another, how could the value of each building differ? Again, was asked what the value is of a building with $4M NOI at an 8% cap rate. Was asked what I learned and had done in my previous internship. I was asked why I wanted to work at Starwood Capital ...
0
+2
Real Estate Career SalariesI was wondering about entry-level salary estimates for non-brokerage jobs for: Acquisitions Analyst? Underwriting Analyst? Asset Management Analyst? Assistant Property Manager? Private Equity Analyst? Insight on these salaries is VERY appreciated....
9
+1
Better to have a mentor or just throw yourself out there when starting out?I started as an intern/ analyst for a Caldwell Banker Commercial and then hung my license because I was tired of repetitive work that I felt was not teaching me anything. They recently laid off a significant number of the research staff ( one 5th year analyst was the one who was “showing me the ro...
2
+3
Greystar Information Is anyone aware of their compensation / lifestyle? What are the advancement opportunities and compensation at the more senior levels (VP/MD). I was hoping someone could shed some light on this. Thanks!...
6
+2
Is the "classic" value-add apartment business plan still a realistic investment strategy today?When I say "classic", I am referring to the narrative of rehabbing unit interiors (upgraded kitchens, baths, plan flooring, etc), refurbished leasing office, resort style pool furniture, new fitness center, dog park, blah blah. We have all seen the broker packages highlighting just how much rental ...
5
+3
PrologisDoes Anyone have any insights about Prologis? If so, How's the interview process for Investment analyst? Thanks....
6
+1
XIRR vs (1+IRR)^12-1Any thoughts/preferences on using the XIRR function vs Effective Rate IRR when modeling development projects? Both account more time value - is one more accurate than another?...
2
+3
Do all of the Top MSRE programs require work experience?Columbia, MIT, USC, Cornell...Do they all require work experience or can you get in straight from undergrad? Context: I'd be applying with 2 IBD internships and 1 PWM internship, 3.7 GPA. Top 15 public uni. No RE experience. I know NYU takes straight from undergrad, but what about the other top o...
10
+1
Coastal Ridge Real Estate - Multifamily REPE with ~$1.4 AUM - any info?Hey there - does anyone have any information on Coastal Ridge Real Estate? They have been growing quickly since inception in 2013 and are growing their Investments team. Currently looking at an Analyst position and determining if it would be a good role to potentially take if I receive an offer. Any...
5
+3
Operating Shortfall & Interest Reserve CalculationsOn a Construction loan... When submitting a construction budget to a lender... After you have calculated the amount of operating shortfall reserve (in monthly cash flows), do you build in a cushion on top of this? If so, what is your calc method? The example I am looking at projects an operating s...
5
+2
Backing out of a job offerLong story short: I engaged a high-caliber real estate advisory team and essentially created a tenant rep role in which I would be working with the team and learning the ropes of the business. This is an amazing and unique opportunity in and of itself. That said, a top investment sales team, that I ...
4
0
Deloitte - Review - Real EstateGreat co-workers. The opportunity to work on a variety of different product types and geographies nationwide. . Repetitive work. Learning curve is not very steep and once basic skills are mastered, there is not much to learn. ...
0
+22
Dress Code in Real Estate Asset ManagementI want to share an experience I just had on my third week of being a first year analyst in RE AM. To give a little background, I work in a second tier east coast market (Atlanta, Charlotte, Miami, DC etc) working at a large AM firm. The dress code here is very business professional, as in casual Fri...
43
+1
Development or Investment sales Thoughts?Been reading threads on here for a while and am recently in a posistion where I would appreciate some guidance. Little background, I am in a 5 year MBA program and wrapping up this spring while I work for a value add developer in a northeast market. It is a decent size shop, more than 60 people and ...
4
0
+1
Specific market focused vs many marketsHey guys what are your thoughts on being a “jack of all trades” relative to markets vs a firm who solely does work only in one market? I currently work for a firm who only invests in NYC however as much as I love NY I would like to see some RE outside specifically in the SE. Ideal would be work...
2
+12
Favorite real estate iconsI'm going through investors archive YouTube real estate interviews now but am still relatively ignorant regarding real estate leaders. I'm thinking along the lines of the Ray Dalios/Howard Marks of real estate; aside from our beloved President of course. Was wondering if anyone has some people in m...
59
+4
How to invest in a city you don't live in?I'm, admittedly, still comparatively new to real estate, so I apologize if this is a dumb question. I'm interested in starting to invest in cities I don't live in (especially since the city I do live in is insanely expensive). I'm, at the same time, a bit unsure of where to start. Admittedly a lot o...
7
+6
How do I get that experience that you are requiring for your job?I am a college senior and have been actively looking for a career in real estate. I have found that most of these positions require at least 1 year of experience. Well, how do I obtain this experience if every job requires it? All and any advice is appreciated....
15
+5
Tell me about the culture at REITsHow is the work/life balance? I am sure it varies by firm and group but are the hours generally under 60? Closer to 60-70? Also, what is the hierarchy? I’ve seen Analysts and Associates but where do Associates go if and when they are promoted? (Acquisitions, Credit, etc.)...
23
+3
How much more analytical do you need to be a mortgage broker vs an investment sales broker?How much more analytical do you need to be a mortgage broker vs an investment sales broker? Is there a significant difference? Thanks...
8
+4
Carlyle Real Estate Associate Compensation Does anyone have an recent comp data for Carlyle RE? Also, what are the hours typically like? Thanks in advance!...
22
+2
Underwriter compared to Production AnalystAny thoughts on the similarities and differences between cre underwriters and production analysts? Which do you think is better for starting a career when you're long term interested in repe ...
1
+1
100% Bonus Deprecation on an acquisition - how exactly does this work?Title. If someone could walk through a simple example that would be great. I was told that given the new tax reform it helps to "finance" the project for you during the first year. Trying to wrap my head around it.Thanks in advance....
1
+1
Exit OpportunitiesI am currently interviewing for an Assistant Property Management position for a large player in investing and managing multifamily properties in NYC. This isn't my ideal job position but it has been hard for me to obtain an entry level position in acquisitions or asset management or investments. W...
2
+4
Katerra, A Construction Company, Raises $865 MillionI thought I would drop this article in here to see what some of you guys think about this construction company. After looking at their website, it looks like a tech based vertically integrated construction company. Do you think this is the future of construction? And, if so, do you think this can br...
7
0
+1
Real Estate Asset Management in TorontoHello Monkeys, I graduated from one of the top 3 business schools in Toronto with a major in finance and economics, and I started my career in real estate development and property management. (also with some experience in brokerage sales) Now with almost 2 years of experience, I'm looking for a tra...
5
+2
2018 U.S. Real Estate Market Outlook (Multifamily)There have been some questions regarding economic downturns and the impact it would have on multifamily assets. I'd like to share the below synopsis from our latest report. Enjoy! OFFICE, MULTIFAMILY: AGILE BY CAPITAL STRUCTURE "The best-performing markets of the current expansion include some th...
1
+5
Avg. $/SF comparison between different size unitsHas anyone here made compared comps on similar product that has smaller average unit sizes? Have one building with rents at $2.66 PSF but avg units of 585, and another with average units of 789 and rents at $2.45 - would like to compare the 789 units at an equivalent $2.66 PSF price point....
11
0
+2
Real Estate Financial Modeling (REFM, ULI, etc)Hey everyone, I'm a rising college senior who just finished up a summer internship working at a REPE. I'd like to continue working toward a career in real estate so I was wondering if anyone had any insight on solid RE modeling classes. My mentor recommended a certificate at the Urban Land Instutu...
46
+7
REFM Private Equity Fund Modeling Self-Study CourseAs most of you probably know, GetREFM is having its end-of-year 50% sale on self-study courses. I've purchased an acquisition and development from the website and was happy enough with them (a couple of the more complicated formulas the narrator doesn't do a great job conceptually explaining them)....
25
0
+2
CIM Group MBA Internship RecruitingDoes anyone have an idea what CIM group interview process looks like for MBA Summer AVPs? Is it just fit? Modeling? ...
1
+2
How do you guys with some experience typically apply to openings that you find online?What is the best strategy here to supplement an online resume submission? Obviously alumni at the firm are the low hanging fruit but how do you approach them? When I was looking for my first gig it was simple because I could play the whole “would love to learn more about your firm / industry” a...
6
+1
Blackstone Property PartnersDoes anyone have any recent comp data for Blackstone? The position's for a PM analyst role under their core fund. What are the hours like? Appreciate any insight. ...
1
0
Stepstone Real Estate Interview process?Has anyone been through the Stepstone real estate interview process? Can anyone comment on case studies and modeling exams, if any? Any insight greatly appreciated. ...
4
+3
New Position, Need AdviceI recently was hired at a very small capital company with basically me and my boss/owner trying to expand his portfolio of CRE, I need to find a directory or a database for brokers so I can pound the phones to get our name out there. Anyone have that available to them or a website to find it? I al...
8
0
Real Estate Developers in KolkataHi All, I am here to discuss about real estate developers, property, flats and houses in kolkata and many more....
2
+1
LandVision software-sourcing off market assemblages and development sitesI wanted to reach out and see if anybody has a subscription for LandVision, whether through your company, through someone you know or yourself. I am in search for someone who has access to the software who would allow me to get on their account so I can put together a list of land sites and assembl...
1
+52
Life in Acquisitions (Analyst/Associate)I've had a couple of people PM me about what I do in REIT acquisitions and what the deal process looks like. I figured I'd post this for people's future reference. I work at a fairly large REIT (>$10billion AUM) so this process may be different for smaller shops. We also exclusively focus on CRE: ...
127
0
Fidelity Investments - Interview - Real EstateShe first asked me to her about myself and why I was interested in the position. Then she went through my resume and asked me to elaborate on certain clubs that Im involved with on campus and the most meaningful thing that I have gotten out of each of them. I think the best way to go about answering...
+1
Resource for understand impacts to RE of new Tax LawDoes any of you have a good resource for understanding broad impacts to commercial RE as an asset class? There have been a ton of articles in the WSJ, etc, but nothing seems to go into much depth. I have tried reading the actual law, but its a huge pain in the ass as it is written as excerpts and ...
1
+1
Structuring QuestionAssume the following - **Example** - REIT A would like to buy REIT B with a $100M Market Cap. However, REIT A would only like to own up to 75% of REIT B and syndicate out the remaining $25M. Therefore, REIT A retains retains 75% ownership of REIT B and syndicates out the remaining 25% to REIT C. Th...
2
+6
Success with SelectleadersHi all, I most recently came across select leaders and wanted to see if anyone has had any success landing a job from any of the posts. I've applied to a handful of companies on there but haven't really heard back but from 1 or 2 companies. Any success stories?...
21
+2
How do you shop multifamily comps?Curious to see what factors people look for when conducting market studies in multifamily. Also wondering: How do you identify rents when most properties these days use revenue optimizers? I have seen larger floor plans advertised cheaper than smaller floorplans. Or I've seen 13 month leases a coup...
10
+4
Development Contract TermsI am negotiating a contract with a developer for construction of an office building. I wanted to see if various experts on this forum can guide me with following terms. Are these market? What changes would you suggest? **Fee Schedule**: Twenty-five percent (25%) of the total DEVELOPER Fee at con...
7
+1
Jefferies Real Estate IBDHi all, There was recently a post in the IBD forum that I found interesting. There was a suggestion to post in the RE forum instead, but basically trying to see how Jefferies is in the real estate IB space. What sort of deals and exit opps (PE) there are would be helpful! Thanks....
1
+3
HFF/JLL/CW/CBRE Workplace Culture I will be joining one the four major firms in the coming year working in an angst role.What can I expect in terms of workplace culture/ politics. Any suggestions would be helpful. ...
9
+2
What are some names of the biggest Canadian Commercial Real Estate lenders? Trying to network for an internshipSo I'm currently studying at University of Alberta, and I'm interested in Commercial Real Estate lending mainly due to the the exposure to the high deal flow and the good exit opportunities. I'm having a hard time finding out some of the big players in Canada. Can anyone help?...
9

Pages