Has anyone had experience working in the FCG at CBRE? The primary job function is working with tenant rep brokers and clients to model out different leasing options and buy/lease analyses. Interested to hear what the exit ops may be as it seems to be a very niche portion of the business. Would this be somewhat relevant experience if you were hoping to transition to Acquisitions or Asset Management eventually?
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Some of the work in FCG is tenant rep/occupancy analysis, but for the most part you're modeling out DCF cash flows/investment analyses in Argus/excel (unless the specific role is for tenant rep). Most of the time, the role is similar to an analyst role at Eastdil Secured where you're working for a sales/dispositions brokerage team. If so, FCG has a good rep and will open the door for you to become a broker or go work for a principal shop doing acquisitions, asset management or development.
Comparing the group work to ES is a bit of a stretch.
I use to work with these type of guys when I was in Corp RE. It mainly depends on the corporate client account you’re on. You’ll mainly just be doing occupancy. lease renewal analysis, business case studies and such.
I would say the most logical exit op is either AM or moving towards more traditional brokerage. Acquisitions would be tough but nothing’s impossible.
I believe the group will be mostly working with the occupier division.
As I mentioned below, think we are talking about different groups here. In FCG, of the 9 people I know in the group, 7 went to acquisitions, one went on to brokerage, and 1 went to AM.
FCG gets compared to Eastdil analyst program pretty regularly, at least here on the West Coast.
Did they go into the FCG straight out of school? And do most analysts do two years at the FCG and then move on to other teams/companies, or is there some upward promotion? Looking at getting into the FCG on the West Coast as well.
This information is from a conversation with some very important people who oversee FCG on the West Coast:
FCG is a great training ground. Some out of undergrad, some do something related (like research/ valuation) then switch to FCG. Your exit ops are pretty wide and diverse. It is really a 2 year and out deal for the most part. You pay your dues with long hours and okay at best pay, but you get really awesome modeling experience.
CBRE tries to keep it's people so they would like you to either stay on as a broker (investment sales/ leasing/ or debt structured finance) or work in their Global Investments arm (acquisitions). They have said you can even do CBRE REIB if you wanted.
As far as external exit ops: REPE acquisitions, maybe development, AM.. really dependent on you. You'll know how to model extremely well, understand CRE from the transaction side pretty well, and have a big brand name on your resume.
@Malta" how difficult is it to break into origination in debt/structured finance from FCG?
Others can probably weigh in much better info than I can right now.
[Merchant_of_Debt] has been a great resource. I know he’s in the origination side of debt.
Naturally, the path of least resistance would be to try and leverage any work you've done for any DSF producers that you've been sent deals from. CBRE FCG is an outsourced underwriting mill.
They don't do any deal execution but you're close enough to the producers who are using the group to try and open up that dialogue. I've seen a lot of FCG analysts go on to work for both investment sales and DSF teams on the West Coast.
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