has anyone heard of crow holdings?

they were at my university career fair and I'd love to know what they're known for and what their reputation is.  Thanks!

edit: I'm new to cre, so I'm not super familiar w all the names yet 

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Comments (74)

  • Analyst 3+ in RE - Comm
Sep 23, 2020 - 10:05pm

As good of a reputation as a real estate company can have. Access to the largest institutional capital sources, robust development pipelines, and by all accounts - amazing company culture that encourages entrepreneurship. most people would consider it an exit opp 

Sep 24, 2020 - 9:54am

teriyaki.chicken

What kind of exit ops are attainable from their pe group?

Commercial Real Estate Developer

  • 4
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Sep 24, 2020 - 12:07am

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.

Sep 24, 2020 - 10:23am

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!  

Funniest
Sep 24, 2020 - 9:55am

They're going to be crushed that they aren't included in a prospect's top 10. 

Commercial Real Estate Developer

  • 10
Sep 24, 2020 - 12:00pm

LOL - Trammell Crow rolling in his grave rn.

"Who am I? I'm the guy that does his job. You must be the other guy."
  • 3
Oct 5, 2020 - 12:09pm

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…

Sep 24, 2020 - 4:30pm

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

Sep 25, 2020 - 12:32pm

You're 100% right.  The Crow family is still heavily invested (Harlan Crow gets copied on all development and IC packages), but they're focused on their fund business and have been raising large pools of discretionary, outside capital for years now.

  • Prospect in RE - Comm
Sep 24, 2020 - 2:05pm

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.

Sep 24, 2020 - 2:30pm

a top 10 shop. 

What does this even refer to? 

Where is the universally accepted and agreed upon "real estate top 10" outside of individual 19 year olds on WSO? 

Commercial Real Estate Developer

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  • Prospect in RE - Comm
Sep 24, 2020 - 2:36pm

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.

Most Helpful
Sep 24, 2020 - 2:38pm

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.

Sep 24, 2020 - 4:44pm

Whoever threw monkey shit at this doesn't know what they're talking about 

Commercial Real Estate Developer

Sep 24, 2020 - 2:15pm

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.

"Who am I? I'm the guy that does his job. You must be the other guy."
Sep 29, 2020 - 9:55am

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.

Sep 29, 2020 - 12:09pm

I mean, half a million people doesn't seem like a normal seasonal shift to me...

"Who am I? I'm the guy that does his job. You must be the other guy."
Sep 29, 2020 - 12:29pm

MonkeyWrench

I mean, half a million people doesn't seem like a normal seasonal shift to me...

But 100,000?  200,000?  Very possible.

The point is that the statistic that 450,000 people or whatever that have left NYC isn't taking into account the fact that every summer people leave NYC.  Look, a net exodus of even a quarter million people from the city is enormous, no doubt.  But it goes without saying it paints a much different picture than 450,000.  New York is a pretty transient place, I'd bet tens of thousands of people move out every year, if not more.  We'll see whether or not those folks get replaced.

Sep 29, 2020 - 7:00pm

Fair enough, but I personally know of 6 individuals and/or couples that just moved out that would never have considered doing so before all this.  And they moved far, not like outside of the city limits but out of the state (not across the NJ/NY/CT lines).  Realize this is anecdotal, but willing to wager I'm not the only one with that type of phenomenon in my sphere.

Plus - even if you net out 250K for seasonal adjustment, that's still an additional quarter of a million people (a lot of them higher end taxpayers) that likely aren't coming back.  I don't think Cuomo would have addressed it publicly if he didn't think it was at least worth paying attention to/somewhat credible.  I don't trust anything DeBlasio says so I'm not going to opine on his view at all.

"Who am I? I'm the guy that does his job. You must be the other guy."
Sep 29, 2020 - 8:59pm

MonkeyWrench

Fair enough, but I personally know of 6 individuals and/or couples that just moved out that would never have considered doing so before all this.  And they moved far, not like outside of the city limits but out of the state (not across the NJ/NY/CT lines).  Realize this is anecdotal, but willing to wager I'm not the only one with that type of phenomenon in my sphere.

I guess... but you think these friends of yours were intending to stay in the tri-state area full time, and yet very quickly jumped ship to a totally different part of the country.  That really doesn't track, at all.  Anyone moving to, say, Texas, just wasn't planning on being in NYC for the long haul.

And yes, I agree 250k is a lot of people.  It's also ~50% of what people are screaming bloody murder when they talk about total people gone.  Lets see what happens this time next year.  If NYC is sitting at 5% less population I will eat my words, and that'll be the least of anyone's problems.

Sep 30, 2020 - 4:22pm

One of them would probably have moved in the next 3 years, I'll give you that.  But the others didn't have any plans of leaving anytime soon.  

"Who am I? I'm the guy that does his job. You must be the other guy."
  • Associate 1 in RE - Other
Oct 5, 2020 - 1:14pm

Have you seen Midtown lately?

I know 10 people personally who left. Not all were going to stay forever, but 2 out of the 10 were basically NYC lifers. 

I am long on NYC, but I don't think the recovery is going to be as fast as some of the RE firms and talking heads out there are trying to make us believe. The city may be in a long road to recovery, but you can never count it out.

Oct 5, 2020 - 1:24pm

Have you seen Midtown lately?

I know 10 people personally who left. Not all were going to stay forever, but 2 out of the 10 were basically NYC lifers. 

By definition they aren't lifers.

I am long on NYC, but I don't think the recovery is going to be as fast as some of the RE firms and talking heads out there are trying to make us believe. The city may be in a long road to recovery, but you can never count it out.

Look, it's this simple.  Urban areas in general are going to take a big hit.  What I want to know is why anyone thinks NYC is in a worse spot than Houston or Atlanta or anything like that.

Anyone making the case that the city is in for a rough few years... well, no argument from me.  But I'd argue that a lot of cities are in for some tight times.  It's a question of whether you think something has fundamentally changed in NYC that hasn't elsewhere, or not.  

There is also a big difference in what "recovery" means.  From a real estate perspective, the fact that a large number of high-earning people are leaving means another blow to an already oversupplied luxury condo/rental market.  But in a more holistic sense, the only danger to NYC (to my mind) is the financial services industry leaving en masse.  Short of that, I don't see a fundamental change in the city's future.  Sure, there will be some belt tightening at the municipal level, is my guess, but we're only ~6 years out (at most) from SALT coming back, which will help from a tax perspective, and the job base is diverse enough that the city should be okay.  You need to have a lot of things go wrong for New York for it to hit the kind of death spiral which spells long term disaster - as long as the jobs are here, young people will want to come, and as long as that happens, the jobs will stay.

Sep 24, 2020 - 5:34pm

I was lucky enough to tour their headquarters in Dallas. 

Dear god they put some money into that. 

Commercial Real Estate Developer

Sep 24, 2020 - 6:30pm

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

Sep 24, 2020 - 9:51pm

"HaS aNyOnE hEaRd Of CrOw HoLdInGs?" that's what you sound like OP

Quant (ˈkwänt) n: An expert, someone who knows more and more about less and less until they know everything about nothing.

  • 3
Sep 25, 2020 - 2:15am

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 

  • Prospect in RE - Comm
Sep 25, 2020 - 2:45pm

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.

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