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+8
Why do the most prestigious RE firms focus on huge, class-A buildings in top markets?

BeaconStreet

This is something that has puzzled me as I’ve moved from the AEC side of the business to the finance side. There is a group of elite, prestigious RE companies. They tend to hire from target schools, and many of the posters here would like to work for them. You know their names: Hines,...

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+7
Real Estate Mezzanine Debt - Cause for Concern?

FutureCEO3

Throughout my discussions with investment and financing professionals within the real estate industry, we have reached the stage of the cycle where most seem convinced we still have “room to run”. The most common reasons and rationale I hear about why a downturn is not imminent is...

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+7
We might be at the bottom in Multifamily (MF)

PacNumber

It was just a few months ago when treasuries were at 3.25% and it appeared that 6% interest rates were a year away...5 caps in major markets appeared to be upon us. Then it didn't happen. Since I got in the business in 1995 one thing has remained true, we never raise rates to previous...

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+1
Property management responsibilities vs property employees employed by the owner

dinoRE

i should probably know this but what exactly are the property management firms responsibilities vs the property's employees? lets say that i have a property that is paying a property mgmt firm their 3% but on the op statement i the owner am also paying the payroll and benefits for the property level...

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+3
Bloomberg published detailed stats on real estate MBA hiring

5 million

The number of graduates working in real estate post-MBA and compensation. Full article................................................ ...

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+3
Difference between 'Real estate analyst' and 'Investment advisory analyst' at HFF?

press107

Does anyone know the difference between a 'real estate analyst' and an 'investment advisory analyst' at HFF? Tried to find info online but couldn't find anything. The only thing that comes to mind is that the Investment advisory team may be the investment sales team at HFF, and the real estate anal...

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+1
2018 South Sound Real Estate for tata housing mumbai

expressbags.in_1

Tata housing Mumbai one of the best places to invest and buy the property in Mumbai is the best investment for the feature. weplanithk Dot com ...

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+1
Forum Topic Title

CaliguyRE

This post has been deleted. Now I will continue to type things until the content minimum is up... ok...

1
+1
Student - Networking but at a roadblock

moeRE21

I am a current undergrad looking for employment in CRE. Have been cold calling and sending resumes/emails to VP/EVP, MD and Recruiting Managers at larger CRE firms. The calls seem to go well but being that I graduate in May, I feel like there is a disconnect for getting an interview when they send i...

4
+2
Timeline after getting an offer

futureREmogul

I have been recently interviewing with a few real estate companies in various aspects (debt/equity brokerages, private investment firm, development firm). All of these companies are on the smaller, flexible side and if I am to get an offer from one of these companies, and still want to explore the...

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+1
Career Path: From Family Office + Advisory to Where?

lottelottelotte

Throwing this here because at my wit's end. I work at a FO analysing early stage deals and raising funds for approved projects. We are sector agnostic so I am spread too thin over too many industries. I want to focus on one thing - either (1) real estate or (2) private banking. How do I choose whic...

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+5
Duties of Analyst vs Associate

Optimus_Subprime

Currently in analyst role and about 50% of my time is spent building/running Excel models. I am a good Excel monkey but....at what level is that reduced or eliminated? I am getting pulled into more development work which seems model heavy, but hoping to contribute on a higher level....

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+6
Rules of the office?

Anonymous Monkey

Can someone provide some general rules of the office? I am at my first full time gig. I find it hard to find balance between being a prick and not saying anything and getting too comfortable with my colleagues. I also find it hard to fit in. I didn’t want to be over the top initially and come ...

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+2
REIT vs REPE?

EssGee

Hey I'm a senior in undergrad and I have 2 RE offers, one from a Top 50 REPE and one from a very large REIT (Top 10 in AUM in the US). Both positions are for Acquisitions/Investments and in NYC. Anybody with more experience have thoughts on which would be a better role and lead to better long-term ...

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+1
Full time offer - midway through bachelor

Alhummer

So, I’m doing an internship at a CRE company in Stockholm, Sweden. I’m half way through my bachelor and I just got an offer from where I’m doing my internship. Full time (probably more since the properties were just acquired), manage 10 properties – 14 buildings (Logistic spaces, industrial...

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+3
Freddie Mac Multifamily Superday

ab1450

Just got sent the agenda for Freddie Mac's Multifamily "Freddie Day". Anyone have any advice/any idea what the interview process will be like? Thanks in advance. ...

17
+3
Colony Capital Summer Analyst

41seaguls

Recently received second-round interview with Colony Capital in LA. Curious if anyone can provide any insight on the firm or anything at all. If you know more about their summer internship program that would be great as well. Thanks....

8
+2
Development costs to Assessed Values

BirdoInBoston

Anyone have a halfway decent rule of thumb to estimate assessed values from development costs? A few projects I've worked on the assessed values have come in all over the map -- as low as 50 to as high as 80%. Trying to get a sense of what's "reasonable" and "typical" as I'm working on a project th...

5
+17
Moron Manager!! What to do???!

Mike-Bozzuto

Would kindly appreciate your feedback. I recently joined a boutique real estate firm after 4 years on the debt site to do acquisitions and development. it's a small shop with three principals, an acquisitions manager (aka moron from hell) and me as acquisitions associate. Here is the problem, t...

39
+3
Career Outlook - FP&A at a Major REIT

ReAnalyst02

I recently just landed my first job out of college at a major REIT (200b+ AUM). I interviewed for several different positions there, but the interview that I performed the best was for a Financial Analyst Role that focuses mainly on FP&A - (budgeting and monthly forecasting process for revenue and e...

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+2
FP&A at REIT

dcremonkey

Anyone have any insight on FP&A at a REIT? Exit ops/pay/exposure/interesting work? The specific roles I’ve seen are general analysis support for AM/acq/budgeting/development...

3
+5
CRE Stepping Stones

Anonymous Monkey

Looking to get some insight into a potential strategies for a career path in CRE. I'll start with the end goal first: Start my own shop and own/acquire a portfolio of CRE across asset classes. Nothing more specific at this point but bottom line is I eventually want to run my own show. I'm currentl...

15
+2
How important is your network?

MogulInTraining

Is it stupid of me to want to move to NYC right after college to get some work experience and the “experience” of living in a big city when I know I will want to move out of there in 5-7 years? I can’t see that lifestyle being a long term thing, but I definitely will feel like I missed out if ...

9
+1
NYC Rent Stabilized Multi-family Acquisition Price

Fedha

How would value a NYC MF property with 36 units where 30 units are being delivered vacant (purposely, to allow buyer to renovate), and the remaining 6 are rent stabilized? Are cap rates/property values impacted from the upside potential of bringing rent stabilized units to market? You purchase a pro...

3
+10
Would you ever consider working in Residential Development?

press107

Something that isn't discussed as much on this forum is Residential Development. I am curious as to see if any of you guys would ever consider taking a job in this field? Knowing what you know now would you tell your younger self to consider going this route? Think for a major company such as KB hom...

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+5
How do I go from the Big 4 to PERE?

Tefenomics

I’m an auditor in London who is about to qualify and I want to move into a PERE role. I understand that audit has limited relevance to PE as a general rule, so I’ve looked at internal roles at my current employer that I can transition across to in our Deal Advisory function- Corporate Finance, T...

13
+6
2019 RE Internship/SA Thread

bottles_n_models

Hi guys, I know this has been generally discussed and that most major RE companies don't stick to a set recruitment cycle as an industry like IB does. My interests in RE lie mostly in debt/equity capital markets and currently looking at shops like HFF/Eastdil/JLL etc for next summer (two years lef...

13
+2
Compensation Meaning

futureREmogul

Currently interviewing for a job, and haven't come to the conversation about what the salary is but on the job posting it is listed as " Highly competitive and progressive commission structure" What does this exactly mean? Base plus commission? Or just commission?...

7
+1
RE investing for non-accredited investors

LifeCoMoney

As most of us know, the vast majority of real estate investments require the investors to be accredited investors ($1MM NW or $200,000 AHI for past 3 years). That's obviously tough for the younger people in the industry that don't work for a developer who would give carry or something similar. What ...

1
+1
Wells Fargos 2019 Financial Analyst Program denied

kroo-CRE

Has anyone heard back from their superday saying that they didn't get the job? If you have heard back and did get the job, did you get an email or phone call?...

2
+3
Research Analyst Compensation

futureREmogul

What is the typical compensation for a research analyst in a specific asset for a big brokerage (Think JLL/CBRE/Cushman/Newmark)?...

20
+1
Equity VS Debt Funds (Lender)

zerojb34

excuse my ignorance as this isn’t really my specialty. If one were looking at a lending opportunity against an equity REIT with moderate leverage or a debt REIT with high leverage, how do you evaluate? I’m getting hung up on the embedded and credit facility leverage at the debt fund level. Sur...

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+5
Analyst Question

CryptoEnthusiast

Analyst at a development firm here. Just wondering, do a lot of analyst positions in real estate PE, development, and investments require a lot of cold calling and comp gathering? I am doing some underwriting as well, but I am also calling and checking on sales at various comps quite a bit. Is this ...

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+7
Investment Sales or REPE?

meridian_blue

Hi All, I'm at a bit of a crossroads. My long-term goal is to work my way up at a top-tier PERE50 firm (something along the lines of Carlyle, Starwood, or Brookfield) and am wondering which of these 2 offers would give me the best prospect at breaking in. **Option 1** is to take a position as an In...

53
+3
When will automation come for CRE?

cdnbig5

When do you guys think automation will come for REPE, REIB, REIT, CRE Development and CRE brokerage jobs? Are they at a higher or lower risk of automation compared to other jobs? ...

11
+1
Dream Unlimited Canada?

dbcr98989

anybody knows anything about Dream Unlimited Canada? reputation, comps, exit opss. anything is appreciated. Thanks!...

4
+4
Anybody here use Fuel CRE or Assess RE as Argus Alternatives?

Brody92

Fuel CRE- http://www.fuelcre.com/ Assess RE-https://www.assessre.com/ Any feedback, thoughts? Appreciate it. ...

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+2
Wells Fargo Summer Financial Analyst CRE Division 2019

Cali-CRE

Hey has anyone heard back with an offer? Just finished up super day last week and am still waiting to hear. If you did receive an offer, how long after your super day did you get it? Thanks!...

15
+2
RXR Realty

jtl1002

I have heard of them before and they are pretty well known institutional shop with quality assets. Does anyone know anything about culture/comp/etc? I have heard mixed things and their Glassdoor is pretty brutal....

7
+6
Opportunity Zone Rules Released

The Duke of Wall Street

If anyone has a few hours and is interested in reading the new rules. https://www.irs.gov/pub/irs-drop/reg-115420-18.pdf?mod=article_inline https://www.wsj.com/articles/new-opportunity-zone-tax-break-rules-offer-flexibility-to-developers-1539948600...

17
+3
Dream Unlimited Toronto Canada?

dbcr98989

anybody knows anything about Dream Unlimited in Toronto, Canada. Specifically for their strategic finance team. What's the interview process like, comps, exit opps and etc? Thanks. New to real estate....

3
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+1
Socal Hotel Cost Comparables (full-service)

Merchant_of_Debt

Has anyone worked on any full-service hotel development projects in Socal in the last 3-6 months? Looking to put together a cost comparables table in a financing memo to help justify our costs - please let me know. Thanks. ...

1
+4
Track Record in Real Estate

futureREmogul

At lot of times in many areas in real estate whether it be a principle firm, brokerage, debt agency etc., the decision of using your service comes down to looking at your record? As a young person in the industry, how do you get that track record?...

8
+2
Commercial Real Estate Capital Markets Analyst-Compensation

Gordon_C

At a private equity style Commercial Real Estate debt fund. Business: CRE bridge lending and CMBS B piece investment. As a Capital Markets (Quantitative) Analyst, I do modeling to study fund level (both bridge lending and CMBS B piece investment) returns, various forms financing (CLO, Repo, CLO, PE...

13
+1
CMBS Bond Trading - indexed to various curves

Gordon_C

Hi All, I worked on CMBS investment, although it's not my major functions. I got really interested in CMBS bond trading. I do support my boss in bond trading when he or the broker we hired to do a BWIC, like getting Price/Yield numbers from Trepp. (I don't have Bloomberg, btw.) What I wanna ask her...

2
0
Cerberus RE

NealCaffrey

Based on the non-RE forums, it appears that Cerberus has a pretty tough culture and terrible hours. Does anyone know if this is true for the RE group or if it is any different?...

5
+3
Moving to Real Estate Investment firms (MBA vs MSRE)

crow8308

I'm trying to move to Real Estate Investment industry from FICC trader. (I'm currently working as a trader in FICC of a well-known US bank, and I'm a VP and 33 yrs old.) I know they are totally different industries and different skillsets are needed to move, but I really want to break into real est...

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+1
Allianz RE analyst interview

micheal 345

Hello everyone, any ideas on how does a modelling test look like at Allianz RE? Any info much appreciated!...

1
+1
Entry-Level Job or Masters From NYU?

gpaone97

Hi Guys, I will be graduating from Rutgers University this December and want to pursue a career in real estate development, particularly in New York City. Although I have pretty decent experience in real estate sales and development while I was in college, I am finding it hard to get traction on po...

3
+56
Why do so few go into Real Estate?

Bankerstreet

Theres no statistical evidence for this but, why is real estate second to most other financial services jobs? Most people in business school are primarily looking for IB, consulting, AM or corporate roles. And even on employment reports of many top b-schools, real estate is rarely even listed, altho...

166
+26
Excel Formulas you use constantly on the job?

greekmyth

Was wondering what formulas most of you are using on the job? Thanks. I have excel tests that I will have to do for some final round interviews so was wondering if there are any recommended websites to practice....

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+1
Duff & Phelps Real Estate Advisory

JW199619

Can anyone tell me more about the starting salary and exit ops for an analyst with the real estate advisory group in a secondary market? Would really appreciate it. ...

5
+24
What percentage of your after tax income is devoted to housing?

REPE8

There is an age old adage that your monthly housing expense should never be above 30% of your after tax income that I think is completely irrelevant in today's rental and housing market. I'm curious to see what the average renter's/home owner's monthly expense including everything (HOA, utilities, ...

111
+11
Why are you buying?

yayaa

For anyone either working at a RE company (REPE, Family office, REIT, small shop) or even buying for yourself, what specific factors convince your investment committee to buy properties in today's environment? How do you make money in the 9th inning of even extra innings of a cycle? When the acqui...

32
+1
Origination Folks- Do you do targeted marketing?

Brody92

As a newer production analyst, one of my jobs is to assist with origination efforts. As I am on the CMBS side of the business and majority of our business comes from brokers, I wanted to target specific and relevant brokers. Using data from the MBA, I built a database of top brokers broken down by ...

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+1
PROP 10 DEFEATED IN CALIFORNIA

episeph

A great day for any firm with properties (esp multifamily) in CA. It’s been a scary few months, but as the day drew closer it seemed like a Yes was becoming more and more unlikely. Assuming we’ll see prices and activity bounce back up to normal soon....

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+2
Second Interview at Quasi-PE Real Estate Investment & Specialty Finance Firm

AssManager

First WSO post so I know I may get ripped for not posting in the right threads. As the title states, I have a second interview for an Investment Analyst position with a Southeast-based firm. The firm primarily serves as LPs (mezz debt, pref, and joint venture equity) to sponsors and operators for th...

1
+4
What to do? Role changed overnight to Real Estate Development from Back Office Accounting / Finance

woofwoof-husky

I spent the past year working in an accounting/finance role at a small firm ($1BB in asset value) that initially was PE but also starting to enter the development business. Several months ago, my boss (one of the senior execs in a different city) tasked me to low-key begin building the local devel...

5
0
The CEO of T-mobile’s house has been on the market for a while now, here’s a look into this.

Giants123

The CEO of t-mobile is selling his luxury New York City penthouse located in the Central Park West neighborhood. His house has been on the market for a while now, in February the Wall Street journal reported that the house had been selling for $22 million, now he’s asking for about $18 million, a...

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+1
Argus AE for Asset Management

JackyD

Does anyone use Argus for asset management? I have always used AE for acquisition, but am trying to get full utility from the software. Would love to hear how your shop utilizes it....

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+4
Multifamily DD Terms - What are you seeing?

The Creature

Question to all the monkeys who work in MF out there: Have you recently seen a dramatic change in DD terms whether it's deposit amounts (hard money up front or just stupid $), DD periods of 10 days or less, contingency periods of 10 days or less, or just other super aggressive/whacky closing terms o...

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+3
Real Estate “Production Analyst”

Jiggy95

does anyone have experience in this role? I’m very confused on the difference between this and that of a business analyst. Any help would be appreciated! ...

6
+6
Buying an Apartment in NYC

ComplacentCareerStudent

First time buyer here currently looking at studio condo apartments in NYC in the ...

39
+8
Most Innovative Real Estate Projects and Companies

CRE

As I sit here at my desk procrastinating by flipping through Urban Land magazine, I'm peppered by images of Boston Properties/Hines' Salesforce Tower, a top ten list of buildings with technologies that add versatility and conserve resources, and a description of how Related's Hudson Yards uses "big ...

28
+1
Wells Fargo Summer Financial Analyst offer turnaround time

Cali-CRE

How long after your interview for an internship with Wells Fargo did you hear back? Couple days, next day, several weeks? I’ve heard it varies by office but any insight would be great. Please provide location, position and how many days after superday you heard back. Thank you! ...

3
+1
Transitioning into an equity side asset management position

dinoRE

My background... i was previously a multifamily valuations analyst for an equity shop, i am currently an multifamily debt underwriting analyst. I am interested in and am looking to to switch over to and asset management analyst/associate role on the equity side. im in nyc but during my job search im...

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+27
Analyst Modeling Test

ChangedMyName

Figured I would give back to the community. I have a modeling test I was recently given for a debt/equity shop that I am happy to share. PM me and I will send it over. ...

83
+1
REFM Financial Modeling Advice

WSfinshackedatbowlsdaxasdf

Recently started at a top firm as an intern and am hoping to learn basic financial modeling and heard REFM was a great resource. I am trying to decide between Real Estate Self study course "Principles of Commercial Real Estate" and the levels 1,2 and 3 bootcamp. Any recomendations would be apprecia...

2
+3
Need to ace REPE Model Test on Tuesday - best prep/coaching?

leonmaximus

Hi guys, I am interviewing for a post-grad analyst position at a REPE in Europe next Tuesday. It's a third round interview and will include a 2h model test. I know that it will be an acquisition and I am supposed to build a "dynamic cash flow model including a rent roll (existing leases, renewals,...

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+3
How would you value a single tenant office building with the tenant being AAA rating versus BB rating?

Miaospirit

Hey guys, I am trying to value a single tenant office building but the tricky part is the value would be very much different if a AAA rating tenant comes in versus a BB rating tenant comes in. So I need to present two scenarios. What would be a reasonable way to value it in real world? Now I have...

6
+4
SL Green - Comp, Deals

NonRecourseLandLoan

WSO - I'm sure you've heard of SL Green. My experience is that they can do a lot of different kind of deals and have a ton of flexibility for REIT. Few questions: - What does comp look like at place like this? How about Vornado? Analyst, Associate, VP? - Do these guys have other funds they manage?...

17
+3
Project Based Section 8 - Underwriting compared to Market Rate

SoCal-RE

Underwriting my first projected based deal with 100% of the units under a HAP contract (two phases with separate HAP contracts for each, one expiring in 2019, the other in 2021). Deal is located in a major CBD market, in a decent area of the city (i.e. not the "projects", there are decent market ra...

9
+4
What should I do with that land?

French35

Hello guys! My grandfather is 91 and my grandmother just turned 80. When my grandfather was younger, he was working in the construction field and the company where he used to work failed. His boss did not have the money to pay him so he offered him a backhoe. During few years, my grandfather build ...

4
+3
Opex for full gut rehab - Multifamily

PacNumber

Assuming 1970's construction Class C apartment building in San Diego. Decent neighborhood. Full gut renovation with 2019 plumbing, electrical, roof, windows, everything, Is it possible to hit 30% expenses due to the effective age of the building being nearly new? Some basics are below. 30 Units ...

7
+3
REPE - Capital Allocator or Vertically Integrated Owner/Operator

NonRecourseLandLoan

WSO Member - Anon account. Do you learn the most at a traditional capital allocator (e.g. REPE 50) or at a vertically integrated owner/operator/sponsor? Has anyone here made the switch from one to the other? What did you learn in one and not in the other? Background: Finance/Banking (2-years). Cur...

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+4
Entry level job help/advice

futureREmogul

What are your guys' thoughts on going into a startup private real estate investment firm less than 1 year out of college? When I say startup, I mean less than 5 or fewer employees. The role would be focused on raising capital from HNW, UHNW, and smaller family offices. Eventually, once there is mo...

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+3
Argus & Base Year Reimbursements

Chum-Bucket

I am an experienced Argus user and have always had an issue (previously with DCF and now with Enterprise) with the way Argus models base year reimbursements. I have never seen discussion of this issue so I am wondering if there is a obvious workaround I am missing. The issue: Typically, in a new FS ...

7
+3
HFF Second Round Interview

CRE_Friar

Just found WSO, so far this is an incredible resource. As the title says, I have my second round interview with one of the major market HFF offices later this week. Does anyone have any experiences with HFF, or general 2nd round CRE interviews? I appreciate any and all help and advice. ...

6
+2
Arel Capital

Mandelbaum_Mandelbaum

Curious as to whether people have any insight into this firm. NYC-based but are heavily focused on multifamily in secondary/tertiary markets. Founded by former HF guys and seem to have been very active since their founding about five years ago. ...

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