Greystar Investment Roles
Is anyone familiar with the investment side of the business at Greystar rather than Development? How hard is the modeling? Is Greystar doing core/core+/value add? What’s their thesis?
For anyone that worked there or works there. How hard is the modeling work day to day?
Omg modeling work is sooo hard at Greystar. They model every multi family unit individually so be prepared. I would say they model more hardcore than Kennedy Wilson but less hardcore than PIMCO (true modelers).
TBH if you don’t live and breath MODELS, then don’t even apply 😩
Can you clarify what you mean exactly? I mean that’s how I am used to modeling by each unit types, so want to make sure I’m not misunderstanding you.
I’m making fun. Apartment models are just… apartment models. Greystar doesn’t do anything materially different from anyone else. There is so much more to the job than excel
Garbage pay
What would pay look like for an experienced Associate as an example?
I'll add that a director is 235k + 65% bonus.
10+ years requested experience.
Would you say that’s good or bad?
Not good, at least to nyc standards
That’s like Brookfield senior associate pay LMAO
.
They were hiring multiple of the same position and it could be based in any of their offices… Dallas ATL Charleston Newport etc.
Very flexible on WFH. Hours can be long (as with any job), but are generally not that bad. I’d say they have a flexible culture and work with top tier capital partners on great deals. However, to take advantage of these factors and the brand name, you pay the price with lower than market compensation.
Ex-Greystar. I was on the development side, but had the chance to work with the fund investment teams. All great sharp people, lots of ex-bankers etc.Their modeling was fine, I'd say on-par with what you might expect from an institutional acquisitions model.From my perspective, Greystar has a tendency to pay below market. Not entirely sure why, but would love to hear y'all's take on it. With that said, WLB is great there and the managers are all great people to learn and work for.
Edit: From what I understand the investment teams sit in Charleston, with a west coast team in Newport.
Did you stay within development or move verticals ? How was your resume with Greystar on it received when exploring new opps?
Moved from Greystar to an institutional LP here in New York.
Greystar has a fantastic brand name, and works with some of the best partners in the industry. So to say, having the name on my resume helped a ton I believe. I recall that post hiring at my new job, my now current manager definitely saw the experience as a major plus.
Do you mind elaborating on how you made the transition from Greystar GP side to LP side? Was this a lateral move or bumping of a title? Was LP focused on your modeling skills at all?
Curious as to what a transition like this looks like.
Sure, it was a lateral move nothing too far fetched. I wanted to diversify away from multi family development. Opportunistically looked for roles online and applied.
Current company definitely cares about excel proficiency. As far as ARGUS goes, it was less so, which I thought was rare as many places now make it a requirement. Coming from Greystar, there was no ARGUS, but tbh ARGUS requirements are overblown because it’s very easy to pick up.
The transition was fairly seamless. A lot of what I did at Greystar was transferable.
Based on this thread and your questions, if you have an offer at Greystar and are solely focused on pay I think you’re going about it the wrong way. Sure the pay isn’t “market” but if that’s the only offer you’re considering, then just take it. Greystar is a great company with a great brand name. Easy place to lateral from if you decide it’s not for you or if you want to chase money.
Any insight on the London team? Saw there are multiple open positions
Bump
Brand name on resume and a top firm that’ll give you great experience, but working for a firm like Greystar with such a straightforward strategy sounds mind numbing to me.
Didnt realize that until I started here, first job out of school. What are some firms that you suggest may be worth looking into with more complex, distressed, opportunistic strategies?
Currently in Greystar acquisitions in Charleston and am attempting to lateral to REPE in NYC. Anyone have any advice ?
Wait for the job market to recover. It is super hard to do deals right now so there isn’t a ton of hiring on the acquisitions side. Because there’s so few openings, any NYC positions will just be filled by nyc candidates.
When deal flow picks back up, that’s when hiring will start being more competitive and NYC shops may have to start looking to other markets for talent
Couple follow up questions. Is any benefit of being at Greystar (aka a brand name company) discounted by the fact that I’m in Charleston? Is the fact that I’m only multi focused a discount to my candidacy? Additionally, what do you think signals acquisition activity picking back up? I’m not asking for you to forecast, rather I’m asking what it would take for acquisition activity to pick up (prices dropping even further to the point where investors feel as if they are getting a fait discount, recession being formally announced, etc?) Basically, what would it take for acquisitions people to transact again? I think many of us could disagree on the timing of this, but we should be at a somewhat of a consensus as to what we need to happen for us to transact again.
How have you liked CHS? NYC will be a very different lifestyle. When attempting to lateral I would stress that you are at HQ and rub shoulders / have direct exposure to Bob, Wes, etc. and really get to see what's going on behind the curtain of the biggest apartment giant in the world. A lot of people work at Greystar, but not everyone reports to HQ and I would make that very clear. Not sure what product type and markets you are focused on now that they're everywhere and seem to now be in everything from Active Adult / Overture, BTR, logistics, market rate multi, etc, but would go all in on how you saw the best deals in whatever space and worked with the best operators / partners / managers in the industry. A lot of people know the story about Bob and Barry at HBS, partner, and then split to form Starwood and Gstar. I would mention how those REPE roots are still part of the DNA of the company and how you're essentially looking to be less of a cog in a machine / number at what is now an industry behemoth. Sounds like you're with GIG so would also say you work directly with GDG to give the impression you're a versatile candidate in that you're not just an excel monkey but have some development / execution knowledge as well. Might help you stand out.
Not a fan of Charleston. The real estate community is very small. Limited opportunity beyond this company itself. Also, the city is very small. Not too much to explore and it gets old fast in my opinion. Yes, the weathers good and there's outdoor activities to explore, but I could get that in SF / LA / Austin / Miami as well while exposing myself to greater diversity. Dating scene is weak too.
Can anyone elaborate on their new Logistics vertical? Is this ground-up or going after existing product as well?
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