Real Estate IBD in London - Interned at an M&A group

Hey all,

I'm starting at a BB in London this summer as an analyst and I've recently learnt that I have been placed in the Real Estate Team. It wasn't my top choice but, given that it wasn't one of the teams I was against joining either, the guys I have spoken to in the team seem really friendly and the RE Team at this bank is known to be sh*thot, I'm pretty satisfied.

I interned in an M&A group so I don't have much of a clue how RE Industry Teams operate. Given that the modelling is so specific, I'm guessing they don't outsource much modelling to the M&A group?

Also, any views on sector dealflow going forward? Obviously since mid 2007 the market value of all REITs have been absolutely battered but now that the rights issue phase seems to be coming to an end, any views of the extent of consolidation in the next year or so?

Any info/views would be much appreciated.