Bedrock Detroit

So Dan Gilbert who essentially runs Detroit, owns Bedrock, was curious if anyone had any insight into the culture there or what its like. Being from the Midwest they do the most work in Detroit/Cleveland compared to the firms within those respective states. Doing a lot of cool development projects as well including the Hudson, but as there isn't much on here regarding them would be curious if anyone has any insights.

Comments (9)

  • Associate 1 in PE - Other
Jun 23, 2022 - 11:09am

You work remotely in the Detroit Metro? How are things there? Do you live in the city or burbs?

  • Associate 1 in PE - Other
Jun 23, 2022 - 10:57am

Generally curious - are you speaking from experience (i.e., do you live in Detroit / Metro Detroit)? 

Jun 24, 2022 - 12:03am
CRE Debt Fund Analyst, what's your opinion? Comment below:

I did an internship there. Terrible city... the "up-and-coming" bullshit you hear is the dying last breath of dan gilbert who is singlehandedly holding that city up

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Jun 23, 2022 - 9:44am
FloatingRate, what's your opinion? Comment below:

I interned there back in the day. Extremely cool company to work for. Great culture. Interesting projects. But, you have to be drinking the Detroit Kool-Aid -- Most of the deals don't pencil and you're betting entirely on the long term come back of the city. 

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  • Associate 2 in RE - Comm
Jun 23, 2022 - 5:39pm

I'll echo above. Also interned there back in their early days. Awesome experience but definitely not a typical developer/owner/operator type of shop. Uncle Dan isn't in it for the money and the underwriting was essentially useless although I do know that's not necessarily as true as it was in the past, especially on the new ground-up projects.

Strictly a Detroit and Cleveland focus but they look at a lot of really cool transformative mixed-use projects as really their entire M.O. is to rejuvenate both cities. I can say from first hand experience that Detroit has changed tremendously over the past 7-8 years largely thanks to Bedrock.

Pretty segmented internally as they essentially do everything in house (I.e design, construction, leasing, marketing, development, investment, finance, and acquisition teams) so you'll most likely get tossed into one of those buckets with that being your main focus.

As to culture you get sucked into what they call the "Family of Companies" which includes Rocket Mortgage and the 100 other or so companies Dan has his hands in. In turn that means a lot of company events, perks, benefits etc. in addition to an awesome office. As to comp I can't really say but pure speculation is that it's probably on the lighter end as unlike most other shops a lot of these deals aren't generating crazy returns and you're probably getting mostly compensated from the man behind the money, albeit that's a $25B man.

Jun 24, 2022 - 1:32am
weaksaus, what's your opinion? Comment below:

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