Excellent place to start a career. You will learn the ropes and get reps in modeling which is exactly what you need as a first job. Very recognizable in the industry too when you decide to exit after a few years assuming you do.

 

I know as a prospect it is easy to see the allure of firms like Blackstone, but in reality, there is not much reason to actually worship these firms over other serious institutional shops. Even worse, to think that one somehow "failed" by not getting employed at one.... 

Trust me, you will laugh at this thought after a few years in the industry. Crow Holdings is a top flight place to work... as in more analyst/associates at the BX's of the world apply for jobs at the Crow Holdings of the world than vice versa, think about that!  

 

@redever why do you say more analyst associates at BX of the world apply to Crow versus the other way around ?

 

Thanks for the insight prospective monkey.  I am sure that your professional experience working with both of these groups has led you to this conclusion.  I for one have purchased deals from both Blackstone and Crow Holdings, and personally know people at both firms.  Both groups have world class people/professionals. 

With that said, I haven't been in Blackstone's HQ, but I have a hard time imagining that it is cooler than Crow Holdings' office.  The art in that place would rival any major art museum in the World.  I counted 3 Rembrandts hanging on the walls during my tour.  Also, no way that Blackstone has a Pig Room.

https://www.dallasnews.com/business/real-estate/2018/01/26/pig-room-deb…

 

Worth distinguishing..

Trammell Crow .... Development firm now owed by CBRE

Crow Holdings .... remainder of old Trammell Crow not sold to CBRE (my understanding is that the Crow family money resides here, but I don't think it is structured nor should be classed as a 'family office').

They are two separate firms as a result of the transaction back in the 00's

 

I find it to be a great place as well, but I can't get over the fact that I still am not able to land something at a top 10 shop. As redever said, I'll probably realize once I get into the workplace.

 

Being fair, I’d say real estate top 5-10 is relatively understood and standard. Hines, blackstone, Starwood, Tishman, related. There’s 5 already. Is crow Holdings among one of the standard top 5-10 that comes to your mind? For me, yes and no.

 
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I’m in college like yourself, so do take what i say with a grain of salt. 
 

Working at smaller, hell even unknown firm can have its benefits. Like a shop that’s still in the early stages, if you get in early and the shop is successful it can pay big dividends down the line. Don’t discount the fact that you’ll be a big fish in small pond, much easier to stand out and move up. Also you might not get siloed and be exposed to the whole deal process across multiple deals. Plenty of other reasons as well. Like others said don’t be so fixated on top 10, there is so much opportunity out there and firms doing really cool stuff and  you’ve never heard of them. Yes there are downsides, no brand name, less ‘prestigious’ and may be less efficient. But don’t discount the above.

 

Have you told your story on here? Might be make a cool post.

Anyway, I wouldn’t mind ending up at a BX or Starwood but won’t happen, at least not out of undergrad. So with that said, it seems cool to build your career at small shop and grow with it, it could be super useful since apparently everyone wants to run their own shop. I remember another post on here about your first job doesn’t matter, this guy mentioned a friend that was making like a mil plus in his late 20’s at small family office you wouldn’t recognize. He’s an outlier sure, but that opportunity is there, hopefully can end up in role like that lmao.

 

@MaxEpic" I pretty much have, here and there. Graduated from big state school in the South, worked for no-name firms, forced to shift gears due to 08 GFC (boutique REIB to consulting) and then into development. 

Personally, I don't think it is all that special, but does run counter to the "WSO" narrative (i.e. many, but far from all, of the people at my firm have Ivy backgrounds). I know a lot of people who have "non-standard" career paths in CRE, it's not really that unusual. But on WSO you would think impossible! 

There is nothing wrong with small shops, and the post about the person in late 20's making a 'mil plus' is not super rare,  real estate tends to pay based on value and results, and anyone can kickass. When I worked in the boutique I-bank our clients were mostly small-time developers, local RE companies, and basic syndicators. Many of them made seven figures as partners and paid their small teams well. I think that is what's so crazy about the love affair with BX and the like, you don't have to land there to make tons of money (or least a good amount, especially if in medium to low COL market) and frankly it is less guaranteed than people think if you do land there (and must be in high COL market). 

 

Good points. WSO is a great resource but sometimes the people on here have tunnel vision when it comes to career paths, there’s one way and that’s the path you HAVE to take. When I started networking heavily last year, I noticed so many people that were in completely different careers but found there way into CRE, be it brokerage, repe or dev, a lot of them at some great firms. Recently, I’ve come to the realization that a small, badass shop would be a better fit than a BX type firm regardless of preftige.

 

MonkeyWrench

At least you won't have to worry about finding a place to live in NYC.  Mass exodus from the city from chatter from my friends in the boroughs.

It's been pretty overstated.  I think a lot of folks who were probably on the way out in the next 2-5 years have moved up their timetables.  Other than that, you're already seeing people coming back into the city.  It's not like the city doesn't see an exodus every July/August of people heading out to the beach or upstate.

 

can anyone comment on the culture at crow holdings, the growth opportunities, what they look for, etc? 

 

There are a ton of responses already, but incase you haven't quite gotten the gist of it:

Top-tier firm, savvy investors at the property level. Have transacted with them and met several members of the acq team in various property types/strategies, the depth of knowledge is immediately apparent and reputation well earned. Great combo of capital and investment prowess

 

Have done a few deals w/ them.

Very bright. They "get it". Have high conviction ideas which they operate within. If the deal is within that box and there is trust then it is smooth. No so easy in other cases.

There are two types of LPS - those that do their HW and know exactly what they want and those that do some HW and wait to dig in until the deal is on the desk. No issue with either... but Crow is the former. I'd imagine it to be a pretty intellectually stimulating environment.

PM me if you want to discuss

PS - did not read most of the thread.. seems trolly 

 

have an upcoming interview with them. anyone know where I can learn more about their funds? can't find too much info on their website.

 

any suggestions on this vs. heitman. For full time analyst? Not too interested in either one of these markets long term, but its what I have in hand. 

 

Clearly, a placement at either is great. That said, Heitman is a very well regarded top brand name in the real estate investment management business, global presence, and would be a great place to start a career. A place like Crow could be the exit vector, especially with a promotion attached. That said, if you did like Crow's operation/location, etc. I would seriously consider it. If you are really thinking from a pure "exit ops" stand point, Heitman is a winner by a mile. 

 

Confused as to why you think Heitman is a clear winner. Crow has larger number of AUM, stronger history behind it, etc?

 

Really good firm out of undergrad in terms of value and experience. And sure crow is the "exit op" in the sense they are investors and always have people who join from advisory roles. I'm sure one could argue SNL developers are exit ops too. But IMO there are way more people parlaying crow experience (especially analyst level) and leaving for other opportunities than vice versa.

 

Nobody who is actually in the midst of a successful career thinks in terms of "Exit Ops"... that's for interns and undergrads. 

Once you are in your career... you think in terms of promotions and progress and results. If someone actually gets a job at "Crow Holdings" to "leverage" it, they are sorta missing the point. 

In fairness... I don't think you meant something so far off.. just how you framed it. I say this because pretty much EVERY "analyst" program no matter where it is may require or lead to better outcomes via a jump. Clearly, some firms want you to stay, but a lot expressly don't (no clue where Crow fits, I have zero idea about its "analyst program" in particular). 

 

Redever, it was really more of a testament to how good their analyst program is. I still think doing 2 years there will provide better opportunities through vertical channels than progressing within. I know kids I work with who have been hit up for associate level roles there….lets just say you better really love their office space. But I have no doubt it can be a one-stop shop and lead to solid money at more senior levels.

 

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