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REPE vs Brokerage Acquisition/Investment Funds (conflicts of interest?)
I've been around WSO for a while, but newly active. I have always been curious about how large commercial real estate brokerage firms start their separate investment funds and REIT 's (ie. CBRE Global Investors, JLL Investment Fund, etc) without wrecking havoc with their fiduciary responsibility to...
CBRE vs. JP Morgan
I am a senior Finance and Marketing major with a certificate in investments. I would like feedback on two different options, CBRE vs JP Morgan . CBRE: I would be a financial analyst and could after two years move to a different position such as a broker. I think commercial real estate is a good fit...
Weighing in on current opportunities
To give a brief background, I am a recent graduate from a non-target in one of the top 5 major markets in the country. I currently work at a known brokerage performing as an investment sales intern creating OMs, underwriting, and research. I have two potential opportunities, one from a major...
Houston Private Equity Real Estate Firms
Currently working at a family office PERE firm in Austin, Texas - interested in jumping to Houston for a number of reasons. Wanted to start doing some diligence on private equity real estate firms in Houston. Any ideas of shops in town? A couple that come to mind are Hines (investment arm),...
Investing in the Southeast
I recently traveled to SC and NC on business and was blown away by some of the cities. Particularly Greenville, SC. There were more people walking around Main St than in Midtown. Also the talent was unreal. Has anyone successfully invested in the Southeast or know of any strong RE firms in the...
What would you buy if you could access $3mm in equity?
I have a family friend who told me that he could capitalize deals for me to run for him and wanted to get people's thoughts on what they would buy at those levels. Everything seems to be super expensive now. Crappy apartment deals are selling at 5% caps.
WSO NYC Commercial Real Estate Happy Hour/Meet Up This Thursday 9/3 @ 7PM @ Galway Hooker
Go to this link for more detail. http://www.wallstreetoasis.com/event/wso-nyc-comm…
Certificate in CRE from BU vs MS in CRE from NYU/Georgetown
I work in RE Asset Management and I am interested in moving over to CRE credit/underwriting in a few years; maybe for a life company or underwriting CMBS notes. However, I do not possess a business or finance degree, rather a BA in English. Would a certificate in RE Finance from BU help me pursue...
Urgent: in need of NCREIF fund level Data (NFI-ODCE)
In order to conduct analysis for thesis, I am in need of fund level data of NFI-ODCE, which include the following: fund list of the index market cap or total assets of the funds leverage Ratio for each fund portfolio holdings by property types (Apartment, industrial, Office and Retail) for each fund...
Value in CRE Property Management
As ways of breaking into real estate go, how smart is taking a position in CRE property management? Are there exit opportunities after several years if you prove your worth, or is taking a job in property management pretty much putting yourself on a island? With my non-traditional background, I...
Real Estate Private Equity Recruiters - Who to Use?
Hey Monkeys, I have been working on the acquisitions side for a smaller ($10 million - $50 million transaction size) value-add CRE private equity firm in a secondary market for the last three years. I am now looking to make a lateral move to an Acquisitions Associate role within a top tier REPE...
Day in the Life - REPE Acqusitions Analyst
Can some of you acquisitions analysts walk us through your typical day? Considering making the switch soon and I want to make sure I have the right idea of what you do. Thanks in advance
NMTC impact on sale
Currently reviewing use of NMTCs for a large healthcare facility development that qualifies by census tract. Does anyone have experience with use of NMTCs (using the traditional A/B note structure)? Since these are a 7 year term, is there any impact upon reversion say in 5 yrs that the NMTC may...
WSO NYC Commercial Real Estate Happy Hour/Meet Up
I think RE Monkey spear headed a happy hour/meet up in the past so I just wanted to gauge peoples interest. Please respond if you would be interested in something late August/early September.
REPE/CRE Firms & Introductions
Hey all, Just curious to know if anyone had any insights when it comes to contacting REPE/ CRE firms for jobs/openings. I'm always down to take an employee (any level really) out for coffee or lunch to build that relationship, but are there steps before or after that will increase chances of landing...
11th Hour: MSRE Admissions Interview Advice
Just received an email letting me know that I have an admissions interview tomorrow morning for a MSRE program. I haven't been in the field for the last year, but I want this is future direction focus. Current job isn't anywhere near RE, so i'm looking for some current market conditions, recent...
Entry Level Advice
deleted My ideal role would be more on the financial analysis side of things, but really I'm open to anything that helps me learn the ins and outs of the industry. Would be grateful if I could get some advice on finding an entry-level position. -Should I leave my GPA off my resume? I feel like it's...
How much do CRE brokers lie?
Currently been bidding on this retail strip center and I truly skeptical of what the broker is saying about other bids. He works for one of the big brokerages. Anyways I know there are brokers on this board or former brokers, how often did you provide "misleading" information to increase bidding?...
Appraisal/Valuation exit opportunities
What opportunities would one have after gaining a year of CRE appraisal experience at a well known appraisal firm?
Sentintel Real Estate
Anyone have any info/opinions about sentinel real estate corp? are they a good firm (reputation) and how are the exit ops from a valuations analyst or acquisitions analyst positions?
Principal vs Broker Side of Real Estate
How is it that brokers really get paid so much? I'm at a small brokerage shop where the top 3 guys are easily in the 7 figure range in a good year, and the #1 guy can even see north of $3mm in a great year (i.e., this and last year). Yes the top guys are absolute hustlers who know the industry/...
GIS & Property Database
I've been lurking for a while but haven't posted much. I work in acquisitions for a large REIT , having been on the private side for the previous 5 years. We're building an acquisitions platform and I've been exploring database & GIS (geographic information system) software to be used for tracking...
Auction.com Experiences
My shop is looking to sell off a few assets that have been on our books for a long time. We purchased them as part of a portfolio transaction many years ago. Over the past several years we have sold off some of these deals one at a time and now there are just two left (two office properties in a...
Will Excel modeling tests always be for a hotel or apartment?
Hey guys, I will be taking an Excel modeling test next week for this real estate firm that owns mostly office and retail, with a few hotel and apartment properties as well. Given that office and retail cash flows are almost always projected using ARGUS, is it safe to assume that my modeling test...
CRE valuations
When valuing commercial real estate (NOI/cap rate), why are you valuing just the physical structure instead of the company that owns the property? For ex, if you're valuing a hotel, there are other assets on the BS that don't encompass the NOI/cap rate tied to the property..is that added on after...
CRE Underwriting
I'm a new college grad that recently received an offer to join the CRE division at a BB bank in NYC . They are one of the bigger commercial lenders out there. I would be starting as an Analyst in the underwriting group working on both CMBS and Balance Sheet transactions (transaction sizes are...
Leaving a BB Analyst Program for Boutique RE Investment/Operating Firm?
I'm nearly finished with a 2-year analyst development program for the CRE group at a bank. I've been getting contacted for interviews via linkedin and the like for smaller RE Investment firms... for an acquisitions type role (more of an overall analyst role... firms seem rather small to break out...
Development vs. investments/acquisitions comp at big RE developer
Would you expect all-in comp number and structure to vary materially between a development analyst/assoc and an investment analyst/assoc at a big diversified RE developer? For example, Hines has jr development guys working on their own deals and also has jr investment guys on the fund management...
PERE Value-Added/Opportunistic = development?
Hello Monkeys, I am relatively new to real estate and was hoping you could shed some light on the below questions I had. Thank you in advance! 1. Are the acquisitions/investments made by value-added/opportunistic funds development focused? If so do investment associates get hands on development...
Q&A: Former TFA Corps Member, Current Commercial Real Estate Junior Broker
Hi all, Long time WSO reader, but first time poster. The site's been a huge help as transitioned from Teach for America into the commercial real estate world, so I figured I'd try to give back a little. A bit about me: I graduated in 2012 from a New England liberal arts college. Always knew I wanted...
Boston Capital
DTZ buys C&W
For wayyyy too much money. I feel like this is good for other established brokerages.
Hotel Acquisitions/Development Analyst Compensation
I recently got an offer to join an opportunistic hotel development/investment group with $1B AUM with offices in Texas and California. Coming from the debt and equity placement side, I am not sure as to what market compensation is for entry-level hotel acquisitions/development analysts. Please share...
Acquisitions Internship with Real Estate P/E
Hey everyone, was just offered a summer internship with a small and new (5 years old, 10 employees) real estate private equity firm. The internship is on the acquisitions team and is unpaid but comes with a small stipend at the end of the summer. I have accepted the offer because it is something...
Difference between REPE & RE Investment Management
Can someone briefly explain the difference between a REPE firm and a REIM firm? In many cases I see the same company on top PE and top investment management firms lists (PREI, clarion, etc). I assumed these two firms and others like them are investment managers not repe? Thanks.
NOI margin for commercial real estate property - stabilized
Dear fellow participants, Any one who has experience in valuing commercial real estate companies please help. I am analyzing a company that owns one of the largest shopping malls in eastern Europe. Looking at their portfolio valuation by Cushman & Wakefield (3rd party appraiser), the only way I...
Hedge Fund - Real estate investments on distressed commercial properties
Yes, I am with real estate investments on distressed commercial properties to work with hedge funds program , I would like to know more of it
EisenerAmper REPE Conference
For any West Coast RE Monkeys, there's a good collection of companies/talent at a San Francisco conference next week. Here's a list of the companies attending, which younger monkeys could use to research Source: http://eaprivateequity.com/sf/ 2015 Attendees Include: 29th Street Capital Accord Group...
Anyone with corporate real estate consulting experience?
Bumping this topic to the RE Finance forum - didn't get any comments from the consultants. Hello everyone, A lot of consulting firms have service offerings around corporate real estate (workplace strategies, RE portfolio optimization, vendor selection and implementation of RE software, site...
REQUEST: Private Equity Investment Cycle
I recently read the post about a hedge fund investment cycle and found it incredibly insightful: http://www.wallstreetoasis.com/forums/hedge-fund-the-investment-life-cy… I'm requesting a similar forum topic for private equity in real estate. I think it would be interesting to read about the...
Best Commercial Brokerage Markets
What markets do you guys see as being the best to get into Investment Sales and Debt/Equity at a brokerage in the next 5-10 years? I'm a junior in college and will be doing brokerage at a major institutional broker (think HFF/CB/JLL) in a major US city, but it's probably a second-tier city as far as...
CRE Valuations Reading
Hi All, Looking for some mid-level literature suggestions on CRE valuations/appraisal. Thinking something in the way of a textbook or the like. Just trying to sharpen up my general understanding of the topic. Any help or guidance would be appreciated. Thanks!
Are you guys finding any good deals in NYC?
Hey guys, So here is my situation. I used to work at a reputable brokerage firm in NYC for about two years and recently switched over to an acquisitions side at a small re investment company ~1billion AUM. Unlike other people around my age (~23), my primary role is to source deals, talk to...
CRE Asset Management vs Private Equity and breaking in
Hello, I've been a long time reader of WSO and appreciate the amazing insight that everyone provides. I'm contemplating transitioning to CRE PE from corporate FP&A and have 3 questions (ok maybe 6): 1) What is the difference (if any) between starting as an acquisitions analyst in RE Asset Management...
Student Housing (Private/Public and Large/Small)
Who can name some players in the northeast? American Campus, Vesper Holdings, Core Campus, The Scion Group, Prime Property, MJW--- the more the better. Anyone ever done a student housing deal? Acquired, disposed, constructed, brokered?
Moving from Property Management to REPE/Asset Management
Hi All, I'm still relatively new to the site though I have been lurking for a bit. Through searching on the site I was unable to find some insights or if it is possible to move from commercial property management (office/industrial) to the Asset Management /REPE/acquisition side of the industry.
Help Needed! Wealth Management
Hey Monkeys, I was just wondering if I could get some help from you guys. So I work for a real estate crowdfunding company called Sharestates. And in order to broaden our investor base, we are trying to contact any wealth management people. If you any of you guys work in wealth management or have...
New job at Marcus and Millichap - Advice for recent grads going into CRE in NYC
I'm graduating in a few months and looking to go into the real estate business in NYC . Specifically, I'm looking to become a commercial real estate broker. I've spoken to a ton of people about this work. Mostly veterans in the industry. They all basically say the same thing "Work hard", "Be...
Resume Critique- I'm looking to move into REPE
All advice, comments, and questions are appreciated. I tried to go through the Wharton and Harvard MBA RE resume books to get a feel for formatting and good points to illustrate, but there is always room for improvement.
REIT's located in Chicago
Anybody here have a list of REIT's with offices in Chicago? I know a few REIT's (Ventas, Piedmont, etc.) have a presence here in town, but I have not been able to find a comprehensive list.
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