Question about Commercial Real Estate, which is listed under DB's "Corporate & Investment Banking".
Is this an IB group where you do M&A, debt raising...etc etc? Or is this more like Jones Lang Lasalle where you invest in physical properties, rather than in REITs?
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Neither. The CRE group at DB (known as CMBS or Real Estate Finance at other banks) sits in capital markets and focuses on originating CMBS loans and other forms of debt to real estate firms (like term loans and revolvers to REITs). There is generally a separate Real Estate Investment Banking group that handles advisory and usually leads the client relationship. CRE and REIB will work together on deals involving secured debt (for unsecured bonds, the REIB group will partner with the high yield or investment grade DCM desk).
Thanks for the response. Do you know about the comps & exit pops for the CRE group? How is it compared to the RE Industry Group in IBD?
I think you meant comp (compensation) and exit opps, yes? At the analyst level base and bonus will be roughly the same. Most front office roles at bulge brackets pay about the same. Some groups might have more sway with respect to how many analyst get top bucket bonuses, but that means a ~$5-10K difference for a handful of analysts. Higher up, I'm not sure. I think the REIB MDs are probably somewhat better compensated; I would also think that CRE bonuses at the senior level are more lumpy than in REIB given that REIB can execute deals in different product areas throughout market cycles.
In terms of exit options, it is my observation that exit opportunities are substantially better from RE IB, at least in terms of moving to the buy-side.
'comps and exit pops' ... my new favorite buzz phrase on wall street
Deutsche Bank: Commercial Real Estate group? (Originally Posted: 07/20/2014)
Hi guys,
I am a rising junior and am starting out a career in the finance industry. Recently, I noticed that Deutsche Bank has its Commercial Real Estate group. Any ideas what the division exactly does?
I am currently interning at a commercial real estate company(one of the largest ones in the industry) and looking to break into the finance industry. Any suggestions?
hey, thanks for the reply. I was initially interested in the banking industry, but the commercial real estate internship was the only one I could get for this summer. I literally called like all the private wealth management firms and other investment firms in my area, but everything failed. So I ended up working at a commercial real estate company(thanks to the alum who helped me for this opportunity though).
they do CMBS
I do know that they do CMBS.. just curious what things they specifically do there... tried to research on google but codunl't really find them
Thank you so much for your reply.. Well.. So this is I am interested in the finance industry...preferably Sales and trading or capital markets divisions. And I knew that I had to demonstrate my interest in finance through an internship this summer. Heard that the local private wealth management firms are the relatively easiest firms to get an internship, but I did not get an offer from them. But I still knew that I had to do something business-related, and one of the alumni in my area helped me get an internship at his commercial real estate company. My question is, would I be able to leverarge my current experience into the deustche bank's commercial real estate internships opportunities next year?
CMBS origination.
Deutsche Bank Commercial Real Estate Group (Originally Posted: 02/10/2007)
What kind of question should I expect when interviewing for DB's cre?
hi dan bush
Deutsche Bank commercial real estate (Originally Posted: 01/30/2007)
Does anyone know anything about this group?
you're the expert, how about you tell us how Deutsche is perceived on your campus
they don't have much of a presence really, that's why I'm asking.
lol!?
Thoughts On DB Commercial Real Estate? (Originally Posted: 11/08/2015)
I was looking around for summer internships to apply to and was wondering what people thought of the group? Also, curious about possible exit opportunities that could exist within distressed real estate debt investing at a HF or acquisitions at a top developer or REPE firms? Thanks a lot.
It is good with a good reputation. REPE or HF with a CMBS strategy would be possible. Development would be a little harder but possible if you wanted it.
WIthout CMBS strategy too? For example, mezz debt, different types of debt, or direct acquisitions at RE PE firm if I will be focusing on underwriting at the job?
Bump.
Deutsche Bank Real Estate PE (Originally Posted: 01/08/2008)
I just wanted to know if anyone on the board had an opinion on Deutsche Bank's Real Estate PE business which comes under the RREEF brand.
It manages nearly $70 billion of real estate related assets, but there haven't been any threads on the group in the past.
Salaries, bonus potential, quality of the group, any information would be appreciated.
I consider them top tier in terms of real estate PE, so I would go for it.
Any other opinions? I am hoping to leverage the experience into an offer from a top tier debt hedge fund (sankaty advisors) or principal investment group (markets side) in a BB, considering that I will be working there for six months.
As far as working at a major bank in the Real Estate PE arm, you will do very well for yourself at DB. I know some people who have gone through the program at the analyst/junior associate level. In general, the salaries, bonus potential, work/life balance and any other metric of choice was identical to their compatriots working in straight investment banking at DB.
For career opportunities, it would put you in line for a job like the top-tier debt hedge fund. However, there are better places at DB to get that sort of position including, but not limited to, the debt prop desk (almost a hedge fund) and the DCM desk. I know people who have had both of these positions who have gone to similar hedge funds.
So, its mostly a banking job, good exit opps, very prestigious, the stock has taken a massive beating over the past year (RRRRX).
Hope this helps
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