Investment Banking in REITs
So I just got an offer at a IB boutique that is real estate oriented. They do some buyside advisory on acquisitions (company A buys a portion of company B), but mostly PIPE financing, private placement type deals. Is this common for most IB boutiques, ie private placement? Could I leverage this skillet to other banks, PE firms?
Thank you
a lot of the stuff in the REIT space is capital markets oriented so that sounds about right if they don't have a research / S&T desk, and can't execute public offerings.
Hey!, thanks for the advice. So what do you think? Is an offer in this line of work competitive for future job offers in banking roles at an IB? Is capital raising alone, even though, I would work on a few M&A deals, a line of banking that is generally know for growing many valued skills which can be used for future career advancement?
I really don't know the answer. I appreciate your input, your obviously more knowledgeable in the area.
btw, I would love to short your CDO with a synthetic long mezz. CDS! :)
PIPEs are not very common in real estate. Nor are "boutique M&A" deals. To answer your question, yes, that is common in the boutique i-banking business, but it is NOT common in real estate. I'm not asking for more detail because I'm afraid you'll end up revealing the firm, but I can't help but wonder what you're talking about.
If you are in fact working on PIPEs and M&A transactions, then that could be really interesting experience, but that assumes you are describing this whole thing correctly. If it turns out that 95% of what they do is asset-level real estate deals, then that is NOT i-banking and it is not M&A. Which isn't the worst thing ever, but just know what it is going in.
To propsie's point there is a lot of fluffy lingo that goes on in real estate. A lot mortgage bankers call themselves "real estate investment bankers" when in reality they are just placing debt deals (again like prospie said, this would not be the end of the world). This explains the difference pretty well http://www.eastdilsecured.com/_businesslines/line/ibank.htm .
Still tryin to figure out if the link you sent me was to prove the point that "This" is real IB or that "This" is fake IB. Either way, in your link at Eastdill it mentions Private Equity / Joint Venture Fund Raising. I know this firm does a lot of those type of PE/JV deals. Another example of a deal they also worked on last year was valuing a minority interest purchase of a REIT by a large insurance company. Again, I am not sure if all this work is more along what JLL,CBRE's of the world do or what the bankers at real investment banks do.
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