Top REPE firm culture variances?
Can anyone tell me from the top 15 firms if they are aware of the culture and work/life balance.
Naturally we all know that Blackstone is brutal. Also, I've heard that Starwood & AREA can also be sweatshops...while CBRE Investors tends to be fewer hours, fun, but severely below market pay. LaSalle tends to reflect its mid-western culture and offers a relatively good balance of compensation and culture/hours.
Can anyone else comment on what they know or experienced. I'm looking to gauge where culture & work/life balance is good in comparison to compensation.
1. The Blackstone Group
2. Morgan Stanley Real Estate Investing
3. Tishman Speyer
4. Colony Capital
5. Goldman Sachs Real Estate Principal Investment Area
6. Beacon Capital Partners
7. LaSalle Investment Management
8. The Carlyle Group
9. Prudential Real Estate Investors
10. Lone Star Funds
11. Westbrook Partners
12. AREA Property Partners
13. MGPA
14. KK daVinci Advisors
15. CBRE Investors
I have heard that LaSalle pays well, has good work life balance, and has great exit opps. However, I have also heard that the work is not nearly as exciting as other shops.
I've heard that LaSalle pays "ok" - I haven't gotten the impression that they pay very well, at least for junior professionals at analyst/associate level.
very interested in this as well. thanks for posting & look forward to reading the responses.
Correct on Starwood being a sweatshop. Can't comment on others.
Would be interested in this as well
Where is Heitman? Are they not a top 15?
Where did you get this list ?
I could be wrong though. http://www.perenews.com/Pages.aspx?pageID=3402
I could be wrong though. http://www.perenews.com/Pages.aspx?pageID=3402[/quote]
I could be wrong though. http://www.perenews.com/Pages.aspx?pageID=3402[/quote]
Correct, PERE ranking.
I'm sure there has to be people on this forum who have friends, former bull-pen buddies, or work at these firms themselves who can add some sort of value.
After digging around it appears that Colony is also a sweatshop if you are in their L.A. headquarters...not sure what it is like in other cities.
A friend that I spoke to said that Prudential PREI headquarters is located in suburban Morristown, NJ and a lot of the younger analysts/associates end up commuting from Hoboken/NYC ...and the reverse commute combined with long (but not brutal) hours tends not to be all that great.
Not sure if this is the exact input you are looking for, but if it were me looking to join one of these shops I would look for the ones that are growing the most. For example, I have heard great things about CIM in L.A. They just joined the PERE 30 list...very dynamic, young, growing shop.
I know a couple of guys there, very solid shop. They hire a lot of ex-bankers, so the hours are relatively tough (as you would imagine).
CIM pays severely under market. have fun
Morgan Stanley is basically non-existent. Even if they still have money left.
Any good REPE firms known for great culture & work/life balance? (Originally Posted: 06/12/2013)
Is there any reputable REPE fund/shop that has an amazing work life balance & atmosphere in NYC or Cali? I wish there where REPE shops that resembled tech start-ups - young fun people, open air office environment, casual dress code...am I dreaming? Perhaps I need to work for a small developer?
You are dreaming. In real estate your job is to make money for the principal(s). They control all the equity: points on the front end and back-end. REPE firms that are institutional (have money for investing) are hard working and not "fun/open-air" ... here results and returns matter. Small "boutique" guys are greasy salesmen who are in it to make money for themselves and their families.
Real estate is great, but having been in REPE I can tell you would do better at a sleepy REIT (some exist .... most are not though).
The only "fun/open-air" guys I've seen in the real estate investment industry are the young developers (stoners) that started Aspen Heights (student-housing in Sw/Se). Alot of it probably has to do with your location...
Stereotypically speaking, the way a large fund manager in NY carries himself is entirely different than a boutique developer in Georgia
Why not just join a tech startup like you stated?
If you're looking for new age tech style enviroment real estate is the wrong industry. It is an old, traditional industry.
Not saying there arent a couple one off guys who sit around in shorts but 99% of this industry hasn't changed in 20 years. Certianly not its culture.
Real Estate PE...hours, culture, lifestyle (Originally Posted: 06/04/2011)
I know this has been discussed before, but I would like to get a fresh perspective especially after the real estate collapse. (Some have said REPE is dead because of the collapse, others say this has become the land of opportunity to acquire assets below their value, assuming financing can be arranged.)
Overall, in comparison to banking and regular PE, what is the overall lifestyle, hours, and culture in REPE? I'm also quite interested to know how it will compare if you're working in a small division of large I-bank, or if you are working in a independent 15 person shop. Also whether you are working in NYC or not in NYC....as I've heard that this can be a huge predictor of the type of people, culture, hours, lifestyle, etc.
Second, how will REPE lifestyle vary if your fund is more invovled in the Asset Management activities (leasing, redevolopment construction, etc), vs. those who merely invest with developers or buy underperforming loan portfolios etc. From my understanding some REPE shops can be highly invovled in the actual physical assets.... or highly detached.
I would appreciate comments from individuals who have thorough knowledge of the variances across REPE funds, shops, companies.
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