Would firms like Blackstone or Eastdil ever create a commercial brokerage business line?
Showing my naivete here but would these REPE groups ever create or need a division for a commercial brokerage line akin to CB/JLL/CW?
Eastdil is a brokerage shop?
i thought they only deal in IB. no actual like licensed brokers you'd see at the other firms mentioned
A majority of Eastdil’s volume comes through brokerage. Even though they call themselves a premier REIB, that’s just a portion of what they do.
I’m going to assume (and sorry if this is incorrect) that what you refer to as “brokerage” is what the industry calls investment sales.
Eastdil is a debt/equity brokerage but because they don’t have investment sales (that I know of at least) nobody needs a salesman’s/broker real estate license.
Other firms with d/e and IS brokerage will require both sides of the house to carry salesmen’s licenses because it is “technically” a requirement to talk about any pending/potential/etc exchange of real property.
i guess what i meant is would they ever build out a IS and/or leasing division?
Eastdil only does investment sales, capital markets advisory, and corporate advisory work. The investment sales and capital markets advisory is traditional brokerage. They do not do leasing. I don’t know if they would ever build a leasing division but they have not done so to this day.
What do you mean they dont do investment sales? They do a fuck ton
You legally need a brokerage license to collect commissions. Eastdil is a brokerage. The people who work their have their real estate sales license and/mortgage brokers license (assuming they do equity investment sales or mortgage brokerage). The corporate investment banking teams (raising equity / debt for reits and companies) have their securities licenses.
if they don’t have their licenses, the real estate brokerage teams can’t legally collect commissions and the corporate teams can help create, issue, and sell securities. The analysts may not have their license, but you better bet that everyone else does. And you’re not getting promoted if you don’t have it.
Eastdil has one of the better investment sales platforms out of all of the major brokerages.
i guess what i meant is would they ever build out a IS and/or leasing division?
Lots of bad info here. Eastdil Secured is a brokerage, not repe. ES primarily deals in the large 100+ mill institutional deal space. You do need a salesperson license to work at ES above a certain seniority level. Lastly, I can't imagine why groups like Blackstone would want to start a brokerage.
All of this.
They try to scare all of the analysts by telling them their bonus will be impacted if they don't get their salesperson license.....I'd say only half my class got theirs....Their name can't be on the OM without a license though
thanks man. i consider myself knowledgable on CB/JLL, etc. but Eastdil confuses the sh*t out of me. They're also hard to find info on like a lot of the uppity PE shops tbh
Dude, did you ever think about going to their website? Pretty clearly lays out what they do. This might be the dumbest thread I’ve seen on here and could’ve been easily avoided if you took 5 mins to google both companies.
Prudential Financial used to have a brokerage business as well as Ana investment banking business. At the same time they used to be the biggest owner of CRE. So not totally unheard of.
Am I taking crazy pills or something? This is DUMB. One guy says Eastdil is one of the better investment sales brokers out there and the OP responds to him by saying he is curious if they would ever build out a IS and/or leasing division. Like wtf? dude what do you think IS stands for?, Its investment sales and people repeatedly have mentioned they are already investment sales brokers. My god, this is DUMB. All I can think of now is that "Everyone is now dumber...." Billy Madison quote. Like seriously, I am not the sharpest tool in the shed too but this is next level seriously.
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