EBs of CRE??
Can someone provide a list of CRE shops that would be categorized as an EB in real estate? Pay top of the street, doing niche deals. One that comes to mind is Sculptor. Can someone help with some more? Also, do any of these place hire FT out of college?
Off top of my head: CrossHarbor, PCCP, Baupost, ICONIQ, Farallon
PCCP would not fall in this list.
good job but ive heard horror stories
It would, PCCP is near the top for many of our analysts trying for exits. Additionally they are incredibly nice to work with.
What do you mean by EB? Elite boutique as in Evercore/Lazard in the ib world? Those are all sell-side firms.
I mean a comparison in the real estate world. Firms that are regarded just how elite boutiques in the IB world are. Elite and responsible for crazy deals usually with leaner teams
Every major city probably has at least one. They just aren’t known outside of that city or region because they don’t do any deals outside of it.
Cardone Capital and Tides Equities for sure
i am removing my comment because i dont want to upset anyone, and honestly we're all chill in CRE yall are cool.
The elite of the elite right there
This is such a dumb post and shows you have a very poor understanding of the industry. Prestige matters far less in RE than IB/corporate PE; this is a sector where deal experience trumps all.
If you want to insist on calling them "elite boutiques", my 2 cents is that the hedge funds fall into this category (Farallon, Davidson Kempner, Elliott, etc.), as does Fortress, Oaktree, etc.
What does "pay top of the street" mean in real estate, exactly?
Main street? The interstate? The mandatory second fire escape route that ruins the landscaping setup?
There are small dev shops that build trophy product but I don't think the day-to-day employees are compensated very well. I'm thinking like JDS in New York/Miami, Samuels and Associates in Boston, Caruso in Los Angeles, etc.
But the idea of an EB in real estate doesn't really make sense.
I don't think anyone at JDS makes much money these last 10 years or so. Most of their projects are.... kinda flops, no?
I'm can sort of wrap my head around the notion of extremely successful, extremely profitable firms that run relatively small teams and knock out some really high profile projects. It's just that there aren't really any "BB" equivalents, in that case, because there are far fewer firms that do everything, do it well, and do it everywhere.
Thank you for not being so dense and getting what I was referring to... obviously, I know EB isn't a term in this industry. I was looking for an equivalent in this industry, in terms of team size, deal size, deal niche, and overall image.
I named three firms that would best fit the idea in terms of team size, deal size, niche, and image, and I'm sure there are more out there that focus on cities I'm not familiar with. But you're not going to make much money working there, it's not like IB where you get paid more for more impressive (read: large) projects, the fees don't get handed out the same way.
The nature of prestige real estate projects pretty much necessitates that they underperform. They're usually in high demand areas so land costs will be high, high demand areas are typically in dense urban environments aka big cities which usually have a lengthy and convoluted entitlement process, they require top-line designs to justify the high rental/sale price so you're paying for top architects, finishes and amenities, they're large profile in the public's eye so you're adding open green space and bike lanes, you need to get a variety of local community interests on board so you're adding affordable housing or making large contributions to affordable housing trusts, community pressure can also add union labor requirements to the project, the sheer size requires multiple equity partners who often demand favorable terms and pref, everyone wants to put their hand in the cookie jar so you typically need to fund infrastructure upgrades in the area (maybe even down line for power or waste treatment upgrades), and so on.
I understand what you're asking for, and I'm saying I don't think it really exists.
you're insufferable buddy
HFF ;)
I am legacy HFF and therefore am better than you
I probably work with you then
Worked for a legacy HFF team, loved the experience but realized how insufferable it can sound from the outside when I left
Id consequuntur consequatur aut nostrum. Vel beatae eum quae sit labore. Sit dicta voluptatem voluptatum ut.
Nobis quas ad rerum et facere. Labore quos voluptatem rerum rerum omnis enim est. Dolorum ipsam nihil et praesentium repudiandae magnam laudantium quia. Laborum perferendis ab fugiat voluptatum sed et.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Eveniet dolores quia ea facilis quo sit inventore. Porro eveniet aut optio et.