Seeking Info on Real Estate IB - Exits, Best Groups, Skills, etc.

Intern in _none

Hello, could someone provide me with some colour on a couple of real estate ib related questions:

  1. What are the best real estate investment banking groups? Definitely going to be more balance sheet oriented banks, but I understand some boutiques have good practices too. How good is JPM, GS, MS BAML, WF, Barclays, etc.? I know GS is usually very strong along with BAML, but it seems that WF is picking up steam with Eastdil.
  2. What are the primary exit opportunities? My understanding is most likely real estate PE, but does real estate ib provide you with the flexibility to lateral to another product or coverage group? Would being in a top real estate IB group provide a lot of exit ops?
  3. What are some of the advantages of real estate investment banking that some other groups might not have? Better technical background, etc.?
  4. Is real estate IB more or less protected against unfavourable macroeconomic changes?

Thanks in advance.

Comments (3)

Nov 9, 2019

1) BAML, JPM, MS are the best. But you will see good exit opps from Citi, Goldman, Barclays, RBC, Jeffries even. PJT is very good in the space

2) Working in REPE or For a REIT. Maybe infrastructure if you're into that but I doubt it

3) No Advantages. Go into REIB because you like RE. There's no other reason to do it

4) real estate is HIGHLY cyclical. Huge ups and downs. Go to healthcare if you want more protection from those swings

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  • Intern in _none
Nov 9, 2019

How good is Wells Fargo? They just owned Eastdil until a management buyout, but they kept their public markets investment bankers.

Nov 9, 2019