Real Estate Modeling Course

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Comments (30)

Jul 8, 2018 - 8:00am

Thanks. I'm currently at 1.5% at a London PERE Fund, as an analyst. Aspring numbers you have there.

Do you have any skin in the game and if so, is it a like for like contribution? See a lot of recruiters these days with carry in the advert (in London too) but always thought it'd be strange for an analyst to have pockets deep enough to contribute. (dependant on size of fund too of course)

Jul 16, 2018 - 12:08pm

This is fairly standard if anyone is wondering.

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Jul 10, 2018 - 10:44pm

If you're speaking to me, that's not being a dick. I own a CRE Mortgage Brokerage, lone wolf. I merged my firm into my client's (now Partner) development firm and wrote the plans/found the seed capital for the fund. My job is to raise capital and manage our LP's. I'm nothing special, no college or MBA, just lots of failures in companies I tried to start and people seem to like how I look them dead in the eye while asking questions to make them feel vulnerable...

Jul 11, 2018 - 10:55am

Got it. So your carry is coming from the 20% profits over the hurdle rate on sale?

How often does your company sell. Around how many buildings in a year?

Jul 12, 2018 - 2:54pm

Typically carry is calculated at the Fund level. There are very few managers who are able to sneak in carry at the deal-level. (The ones who do it at the deal-level tend to throw in some pretty clever language).

Typical promote structure will have a preferred return followed by either one hurdle or multiple hurdles. I've typically seen the Firm/Partners receive 60-80% of carry with the remaining 20-40% reserved for team members.

Robert Clayton Dean: What is happening?
Brill: I blew up the building.
Robert Clayton Dean: Why?
Brill: Because you made a phone call.

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Apr 15, 2020 - 2:16pm

Worked my way from an analyst up to a senior associate at a sf based REPE firm over 5 years. Started at 0.5% carry as an associate and now up to 1% as a senior associate. Am I considerably under market?

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