Can someone explain what the Big 4 do in CRE?
This has been a thought of mine. I am not talking about auditing or tax services because I get that. But can someone explain what these valuation, transaction, advisory/consulting groups do?
Let’s use the one group I hear most about in the EY Real Estate and Hospitality Transaction Group. What the hell do these guy do? I’ve seen job postings with descriptions as..”Perform valuation, advise owner/developers on feasibility studies, M&A, etc.”
Im just confused on what they do. Not once has anyone at my firm said “Let’s hire one of the Big 4s” to raise debt/equity or whatever.
I know there's a group at EY that does REIT income testing. There's another one called Transaction Real Estate group (TRE). It seems like they do third party DD work, because I'm pretty sure I've seen some people from that group actually cross over to the principal side to do acquisitions.
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