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REPE ON-CYCLE MEGATHREAD
Hello - Would like any insight on which SPECIFIC firms participated in REPE on-cycle last summer. Additionally, any other details would be greatly appreciated (exact dates, interview details, general advice) Thanks for your time!
Tips for Associate REPE Role Recruiting
Hi all - title really says it all. Any tips when it comes to recruiting for Associate REPE roles in major East Coast MSAs like NYC, Miami, DC, etc.? I am specifically looking for Acquisitions or Asset Management roles. My background is I have been at a megafund on the asset management side for three...
Transitioning from PE Co-Investing After IB Into Real Estate PE
I’ve been doing private equity co-investing for a couple of years and want to transition into Real Estate private equity as I’ve developed a passion for the sector for making personal investments. I have the IB background and can model, although I don’t have the industry specific experience....
Real Estate Case Based Interview
Hello - I have a Real Estate phone interview coming up. I was told to be prepared for some case-based questions. Does anyone have any insight into what this might entail? It's not an in-person modeling exercise so curious if people have an idea of what to prepare for. Thanks!
Deciding what to develop...
If you have a plot of land....assume location does not matter....what would you develop? Office, multifamily, mixed use? Assume its zoned for anything, more just trying to see how is the best way to interpret this
PERE Modeling Interview Questions - WSO Modeling Course
WSO is going to create a RE modeling test/interview prep course for commonly asked interview questions that I am assisting with. What are some of the questions/concepts you would like to see answered so we can help you know enough to be dangerous in an interview?
Brookfield Asset Management Questions
Hello, I am currently based in the Middle East (Dubai) and see myself staying here for the next few years at least for family reasons. I currently work as a real estate investments analyst with one of the larger regional players (although admittedly, that’s not much on a global scale), but have...
Morgan Stanley Summer Analyst Assessment Centre London 2020
Hey guys, I have been invited to the summer analyst assessment centre for MSREI. I was trying to search the forum for previous topics but could not find anything that was up to date. Does anyone have experience with Morgan Stanley's assessment centres for Real Estate Investing? As far as I...
NEED HELP: Tech sales guy trying to break into REPE
Hello fellow monkeys, I am in dire need of some advice. I have a background in Technology Sales for the big houses, Oracle IBM and co. Then in-officially founded a distressed property management company in Europe. I say in-officially because i operated as an individual and not a legal entity, yet i...
Real Estate Acquisition - Comp Structure
Reviewing a recent offer. West coast based. $120k base. Fixed bonus per deal closed. Curious as to what a typical analyst/associate with 3-5 years of experience is making all in.
Buying "Below Replacement Cost"
Hey WSO - So value investors buy below replacement cost. Right? The story goes if you can buy cheaper than a competitor can build, say, right next door, you're protected from such product as you can charge lower rents and still achieve an acceptable yield. Maybe people don't build because rents wont...
Best RE Firms to Start an Investing Career
With the many types of roles and firms throughout the real estate industry, I was hoping to gather a list of what this forum would perceive to be some of the best places to begin a career in real estate investing. This could be related to brand name, fundamentals learned, network gained, etc. I'd...
Valuation of Commercial Property and Ground Lease
In a scenario where a purchaser is considering buying the fee-simple interest and a short term lease-interest (30-years with no additional extensions) of an operating hotel, what is the appropriate way to value the deal from a fee-simple (only), lease-interest (only), and a deal (as a whole)...
Fortress Investment Group - Real Estate Investments Info
Hi - Does anyone have any thoughts on Fortress Investment Group, specifically in real estate equity investments at the senior analyst level? I believe most of their group is based on the west coast, but if anyone also has any color on the NYC team in terms of comp, culture, hours etc it would be...
Development vs. Acquisitions
Could someone go into a bit of detail of how different the proforma model may be for underwriting a large multi-family development compared to doing acquisitions where you are solely buying the already developed asset? What other forms of information would you be looking at? I know this is broad but...
GID Acquisitions Analyst Position
Has any applied for this role and been contacted? It is in Boston and was posted about 3-4 weeks ago
2019 RE PE Interview
Hey y'all, I am heading into the interview process for an REPE firm based in Chicago (Think: Harrison St./Walton St./LaSalle). The current position offering would be for a first year analyst position within the firm. It would be great if I could get some of yall's input on the matter. Essentially,...
Real Estate Private Equity Firm vs Real Estate Investment Management Firm
In process of applying for FT positions, and really confused on the difference between a real estate private equity firm and a real estate investment management firm. are they the same thing? for example, Westbrook Partners calls themselves "a full integrated real estate investment management...
REPE Interview Question "If you had $100M, where would you invest it?"
Had this question in a REPE interview. There have been some threads on here that discuss it but not recently. In the current RE market, would love to hear some answers to this
REPE Firms in Washington D.C
Was wondering if anyone could help me come up with a list of REPE Firms in/around Washington D.C. I know of a few but was curious if we could crowdsource a list of places I haven't heard of. EDIT: Apparently I'm an asshole since I didn't list the firms I know of. Carlyle (Don't know how much is out...
Leasing vs Purchasing model
Hi All, Was wondering if anyone with any PE experience could help me understand if there is any benefit to either model in terms of valuation? Granted we have lower CapEx under a lease model vs purchasing outright but is there anything that favours either or?
Brookfield Strategic Initiatives Group?
Anyone know about this group? Seems almost like in-house M&A /Corp. Dev? Do they work with funds (e.g. Brookfield Strategic Real Estate Partners III) or no?
Any people on this forum working in Florida real estate???
Curious how competitive the market is on the principal ownership side and how competitive the salaries are? I currently work in New England on the REPE side and am considering moving to the west palm/boca raton area in Florida. If anyone works down there and would be willing to share some...
Florida Real Estate
Does anyone know of any recruiters or recruitment companies in Florida (not sure if they separate into regions but ideally east coast area). Specifically looking more on the principal/ownership side compared to brokerage. However, i'm assuming if they do real estate recruitment they would cover all...
Why a lack of advanced modeling techniques? Anyone who uses probabilistic modeling justification for this?
From what I have seen, real estate modeling (at least on an asset level) seems to be relatively rudimentary in comparison to almost all other financial sectors, could anyone possibly speak to why very few firms utilize advanced modeling techniques and probabilistic modeling in real estate? Or if...
How do we feel about Colony Capital these days?
Hello everybody, I am looking into some full-time opportunities on the equity side in Acq and I am curious what the view on Colony Capital is these days, particularly as an entry level analyst looking to start their career with solid branding/institutional experience/deal flow etc etc blah blah...
Transition from Private Equity Real Estate (REPE) Acquisitions/Asset Management to Real Estate Investment Banking (REIB)
I know a lot of people who work in Real Estate Investment Banking make the transition into an acquisitions role at a REIT or REPE type firm very easily and smoothly....However, I am curious, how likely and difficult would it be from doing the opposite (REPE ---> REIB). I am on the younger side,...
What is the timeline for full-time hiring out of undergrad in REPE?
Hey guys, I have been feeling a bit lost recently. I completed an acquisitions internship at a Top 5 REPE shop my sophomore year and have since accepted an offer for this summer at a top debt group. My original thinking was to get some debt experience (since I had already spent a summer in equity)...
Choosing a Role: MM Acquisitions vs Megafund Asset Management
I currently work as a RE investment analyst at an institutional shop and am making the move to an opportunistic fund. Currently I have 2 options and having a lot of trouble choosing which is best: * Acquisitions analyst at a ~5bn AUM firm looking mostly at single asset acquisitions, sector agnostic...
REPE, PWM or CF?
Hey All. So to keep it short, my end goal is to work at a HF or HFT firm. More than likely I'll have to break into IB post-graduation to get there, but as a junior at a non-target state school, my options for this summer are as follows: * Corporate Finance at an F500 company, * PWM at an MM...
RE Asset Management vs. Acquisitions
I've seen a few discussions on this topic already, but most are outdated. I'm curious in Real Estate, whether commercial or a large multi-family owner (EQ, GID, etc), which typically pays more between asset management and acquisitions, starting from the analyst going all the way to an EVP etc. I've...
Acquisitions in Institutional Shop vs. Private Firm
Title says it all. Given similar comp, location, etc... Would you take on an Acquisitions Analyst Role at a Top shop (e.g. CBRE Global Investors, Blackstone) Or an Analyst role directly supporting a principal at an investment firm that has a decent portfolio looking to expand? Said principal plans...
REPE Compensation Data (interesting report)
Hi everyone, I have been lurking on this forum for quite some time now. Throughout most of my time as an undergraduate, I have aimed for roles in investment banking, but it appears that an REPE analyst role has fallen into my lap and I have been trying to gauge what compensation is for the past few...
Corporate Finance(internship) to REPE
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Skills Needed to Break Into Acquisitions at REIT or PE Firm?
Can anyone comment on skills needed to break into an acquisitions role at a REIT or at a PE firm? I'm currently a 2nd year analyst with a small LIHTC developer. Creating a plan on the skills needed to move into acquisitions at a REIT or PE firm in 1-2 years. Skills/Experience I Currently Have:...
past stupid question, don't read
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SL Green - Comp, Deals
WSO - I'm sure you've heard of SL Green. My experience is that they can do a lot of different kind of deals and have a ton of flexibility for REIT . Few questions: - What does comp look like at place like this? How about Vornado? Analyst, Associate, VP? - Do these guys have other funds they manage?...
Senior/Student Housing REPE
I just took a new job at a boutique private equity shop with a fresh allocation to invest in primarily senior and student housing all over the US. I am moving from the investment sales side supporting multifamily. My new job will be a mix of modeling, due diligence, and asset management. Will be in...
Off-Market Northern CA Land Deal
Hi WSO , I have off-market commercial land available in Northern California. This deal could work for a land bank buyer that can close on the property by the end of this year or for a developer that wants to entitle and master plan the site. Price range $50-100MM. The Seller may need to 1031. Please...
Brokerage at Big 4 (think CB, JLL, etc) or Acquisitions at $100M fund
I am struggling to make a LIFE CHANGING decision. I have two offers that are very different. Offer 1 is with a brokerage: it took about 6 months and 8 meetings to get the offer, these guys moved slow through out the process. I developed 2 financial models, completed a personality and IQ test, wrote...
Advice/Tips to get into REPE?
I am a first year analyst at a small/mid-size commercial developer right outside Philadelphia. Currently, I am on a small acquisitions team and my responsibilities include running excel models, ARGUS models, preparing equity memorandum, observing due diligence process, reviewing leases, etc. for...
2019 FT Analyst recruiting timeline - Real Estate
Hi, I'm a rising senior at an elite liberal arts college (think Williams, Pomona) with a STEM major. I worked in a merchant banking group at a family office this summer, and am looking to take my buy-side experience to REPE, development, owner-operator investment firms, REIT , etc. Hoping to cast a...
RE PE Technical Interview Questions
I am interviewing with a mid-size RE PE firm this coming Thursday specializing in Multifamily and Hotels. I am coming from a debt fund, but with a prior internship with a small RE PE group. Below is a list of technical questions that I think I could get: -Explain IRR (Levered and Unlevered), Equity...
Where to place myself for success?
I am interning right now at a small shop in Florida, think 4-10 people. Doing acquisitions and starting our first fund. They have taught me how to underwrite basic deals and use Argus. I have been really looking into moving to a major metro such as New York, Chicago or LA. I am driven and willing to...
Best European RE funds (UK + Continental) + Background
Hello fellow monkeys, Out of curiosity, which one are the best RE funds in Europe at the moment? And also, what special situations/ NPL funds are there in Europe? I was thinking along the lines of BX RE Debt, Cerberus but not many other names come to mind. If one would like to end up in a real...
Best MBA/MSRE Programs for REIB/REPE Jobs
Wondering what MSRE/ MBA programs have the best exit opps in the REIB/REPE spaces. And when I say REIB/REPE I am more curious to hear about placement into larger firms that crank out deals (on the REIB side)/have lots of capital to deploy (on the REPE side) than smaller boutiques. Obviously M7 MBA...
Roles Within REPE
So you see/hear a lot of people talk about getting into REPE, but outside of the occasional person who mentions in an acquisitions role, you don't hear much about specifically what people mean when they say getting into REPE. I was hoping someone could elaborate on the various roles at REPE shops...
35 Yr old hoping to work for a REIT upon graduation
Helli all. I am a 35 year old returning student at Kaplan University. I am studying finance with a specialization in real estate. I have 2 years until I graduate. Upon graduation I hope to work for a REIT . My question is what are my job prospects being that I will be 37 upon graduation?What are...
911! I need help REPE friends!
Hi everyone! I am looking for an example of a REPE research report. I just need someone baseline to get a feel for what is considered the standard template and what they typically contain. I've been told it should be a few pages and come to an investment conclusion. Any examples would be awesome!...
SOS - modeling help - Equity waterfall with multiple partners?
Kind of stuck here. Tried to figure this out last night - slept on it - still can't figure it out. I am trying to set up a waterfall with multiple JV partners. I have only ever modeled with one LP and one GP. In this case, there are five distinct GPs, each with separate promotes. One LP. At a high...
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