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Seeking Advice: Lateral from a $3B fam office to local MM firm? RE veterans, please throw your two cents.
I am a third-year analyst at a family office seeking advice on lateraling. We invest in core/core-plus assets around the country and AUM is north of $3B. Due to their permanent capital, the family (see IC) makes a lot of investment decisions based on the qualitative features of an asset (see trophy...
Recent restructuring grad studying for ACA and wanting to break into acquisitions
Hi All I am a recent grad from a semi target uni for Economics (top 6-10 in the UK for Economics) and I have worked in Business Restructuring at a Big 4 for 18 months now where I am due to complete my ACA by summer 2022. Over the past six months or so I have been figuring out what career I would...
Peter NG Schwartz Management Company
The Peter N.G. Schwartz Management Company prides itself in being recognized as one of the premiere property management and real estate development companies in the District of Columbia, Maryland, and Virginia. Our mission and commitment to excellence is reflected in our comprehensive approach to...
Should I leave my job to help a family friend start up a family office
Looking for some advice from some family office peeps. I have a great gig now but this opportunity feels too good to pass up. A close mentor and friend asked me to leave my job and help him grow/manage his personal investments. He has told me he wishes his kids (who I am pretty close with) were...
Structuring Deals/Funds & Capital Raising
Hello - does anyone have recommendations for books/materials on capital raising and advanced fund/JV structuring (or even structuring syndications) relevant to CRE? I have read a few books on this, but most seem to be pretty elementary and was hoping to learn some more advanced techniques/practices?...
Serviced Apartments | Valuation Method
Hi all, I need to value a building used for serviced apartments, in a prime location. It is 6 floors, with 150 rooms. I have the revenue they charge per room. The building is owed and operated by the same shareholders. However, my area of expertise is PE and Infrastructure. Would appreciate your...
Capital Raising Business
So, I have been in RE and Construction for the last 20 years. I understand both very well. Trying to start a capital raising business for developers and operators BUT have no experience within the finance industry even though I have an undergrad in finance. Does anyone have any books or training...
Private Equity Real Estate | Sourcing & Fees
Hi, My gf lives in a serviced apartment, and It has a great location but the building is not very well managed. I know some people working in PE Real Estate funds, and I think I could suggest them to perform some due diligence on this building/asset (or even introduce the management) I could do it...
Loan to own firms
What are some of the top loan to own firms in the industry? Is it major private equity and hedge funds like Lone Star, Cerberus, Apollo, Angelo Gordon, Ares, etc or smaller middle-market firms?
Real Estate NAV Model Interview
Has anyone taken a RE NAV model interview and what did it consist of? Just trying to get insight into what info you were given, what you had to build, etc..
Tasks and Responsibilities of a Development Intern
I'm about to start my summer internship at a large development firm on the west coast and wanted to see if anyone can speak to what tasks they have had as a development/acquisitions intern? Just hoping to get an idea of what I should be learning before so I'm not dead weight, thank you!
RBC or CS Real Estate?
There's a lot of threads about top RE groups, but between CS and RBC it's unclear to me. I've seen deals from RBC but not CS , but websites seem to mention CS more. Thanks!
Things to look at in a Real Estate Company
I've been asked to analyze the model of a Retail RE company and I have no prior experience analyzing this type of company. Does anyone have any suggestions of what to look at in the different statements and what to pay particular attention to in the notes? Thanks!
Is anyone lending?
Who is making loans in this environment? Have heard that many big banks like Wells Fargo are on the sidelines. It seems like the GSEs are lending, but with more structure, such as escrow requirements. My bank, about $20 B in assets, is lending, but it's still somewhat unknown what we can get...
Is Econometrics a useful degree?
Hi everybody, I am currently studying on an undergraduate business program and considering econometrics as a master`s degree. Upon graduation I would like to work in the field of IB , portfolio management or real estate investing. Is econometrics a useful degree for these paths or statistics/some...
Need help with breaking down real estate return attribution (income v. capital)
Hi guys, Can anybody explain how REPE funds break down their out their quarterly return attribution by income & capital return? For income I assume it would be the (increase in current Q's distributions / last Q's distributions -1)? What about the capital gains? Are these based on quarterly revals?...
Confusing Resume Post-MBA
So in the current state of the US economy I am looking to really bulster myself to be in a good position to land a job post-grad. I am currently an MBA student at an EU school (Not LBS ,INSEAD), but an American citizen. I am finding it difficult to go much further than the first couple rounds of...
Real Estate AM information (London)
I have recently been offered an internship in REPE Asset Management in a top fund that splits AM and acquisitions (think Blackstone, Brookfield...). I know what the job is about but I'm wondering what's the working hours (been told around 60-70) and what's the pay. The base is the same as in the...
What major CRE transactions have still been taking place despite the pandemic?
I'm curious to know what major deals have still been going through in your market, either acquisitions or obtaining financing for new developments. How are you seen the current economic uncertainty being factored into the sales price/loan terms/buyer & seller motivation, etc? I've heard that some...
Investment or Lending Strategy by Product - 2020
Wondering how people are approaching CRE in the near term, say 6 to 12 months, in terms of transactions. Both from a sponsor and lender perspective. What product type are you looking to buy, begin construction on, or lend on in the near term? Seeing any challenges in finding debt at desired terms?...
Anyone own any property on the side?
Curious to see if any of you have pulled the trigger on owning property yourselves. I'm putting in offers on buildings in Cleveland between 7-15 units so crossing my fingers I'll have a deal under contract by end of Jan!
Air Rights Tax Benefits
If you purchase air rights from someone and build a new building on their land, would you pay property taxes on the property? Or would the air rights holder, and therefore property owner, continue to pay those taxes? What is typical?
[Semi-Urgent] Case Study from Top RE Fund [Modelling Help]
EDIT 1: Thanks for all the replies below and fair comments. I should have mentioned I joined in global markets (illiquid sales for 4+ years) but looking to move to RE but experience on RE modelling is severely lacking. Got the interview after bare networking given that my background is not RE and...
Careers that translate to property ownership
My current position is in capital markets/investment sales at a national brokerage firm. I enjoy brokerage, but my real goal is to become involved with investing and property ownership. Can anybody speak to different career paths in CRE that translate well to property ownership? Example.) I've heard...
Has the Wooden Skyscraper Revolution Finally Arrived?
In a particularly interesting thread the other day, featuring a great podcast recommendation, a discussion popped up between @Dumpster Fire Yuppie" , @calculatedrisk" , and I about CLT/GluLam/"Heavy Timber" construction (and also I discovered there are people out there who like brutalist...
Leaving after 6-7 months
Hello - I'm in a not so uncommon situation but am curious how folks in the CRE world feel about this. Ive had about ~9 years of CRE experience (6 at my last job) and i recently started a new role at another financial institution. Most things are fine, comp is decent and I have a ton of my...
Is investing in the real estate property is always profitable ?
I want to know about the real estate investing. And which real estate investment is more profitable commercial or residential?
What is the process to deal in the Real Estate in foreign Country
I have some some doubt while dealing in the real estate property in Thailand. Please give me some suggestion.
Tellus for Real Estate Investing
Has anyone used Tellus for real estate investing? Supposed to be RobinHood but for investing in mortgage notes. Supposed to not have any fees or holding period. Anyone have experience with it?
Looming Liquidity Crisis?
Each quarter I see increased late cycle behavior in the real estate world. From vast amounts of SFR home flipping at an institutional level (see Door/Zillow/Redfin) to development sponsors needing to farm out their 10% equity pieces due to insufficient cash at the operations level plus the...
Switch from RE brokerage to RE investment banking
Hi monkeys, I'm currently in an accelerated program getting my BA and MA at an ivy. The BA is in urban studies with a minor in Econ. The MA is in real estate development. Top RE firms (Cushman/CBRE/JLL/HFF) have recruited me for two internship roles. Last summer I did investment sales and this...
Non-Typical Profile for REPE? WSO Guides for REPE
Dear Fellow Monkeys, I wanted to reach out for advice/insights/guidance on career paths to REPE. I've been 2+ years at a RE boutique family office underwriting CRE senior/subordinate loans and some hybrid debt/preferred equity transactions, with increasing exposure to origination/deal structure...
Argus Enterprise Certification for Resume
Hey guys, I'm brand new here. Hoping to land a job in ATL but I almost certaintly need the Argus Enterprise Certification. Does anyone have any materials that would help me pass the exam without having to pay the $2K to Altus? I have a pretty firm grasp of modeling in Excel and I've got my REFM...
Economic Vacancy Calculation
Hey monkeys, I am wondering how you all calculate economic vacancy as I am hearing some differing opinions at my firm (and from what I was taught in undergrad). Looking at my Argus line items, I would calculate economic vacancy as Potential Base Rent - Absorption & Turnover Vacancy - Free Rent -...
When did you buy your first apartment? Type? Location (UWS etc)
When did you buy your first apartment in NYC? Location? Price range/type (1BR/Studio)? Did you buy it with your SO? Is it worth buying a studio that's around ~600-800k or is it better to save up and buy something that's more decent/larger with your SO down the road?
What Kind of Year Has It Been? Looking Back on 2019.
What have you accomplished professionally in 2019? What wins have you celebrated? What mistakes have you had to overcome? What worries are on your horizon? What makes you excited for 2020? I've always found commercial real estate to be an industry very willing to extend an olive branch to both...
Analyze the opportunities of the real estate apartment rental
Your opinion about the opportunities and challenges of the rental real estate industry in the current real estate market situation
Commercial real estate in Denmark
One of the best websites to post your commercial space for rent is MatchOffice. Also you may post on Craigslist, but it is better to post on the one that is specific for the country or area you are in. MatchOffice is peculiar for Belgium, Finland, Denmark, Norway, etc. So if you have a vacant office...
Hotel Valuation
Hi guys, so it's my first time valuating a hotel, I've done the standard DCF , comps ... analysis to value the business, however, my question is: do we value the business and the real estate value separately? Let's say the business is valued at 1 M$ and the real estate at 2 M$ - is the total value 3...
Brookfield Properties SA Second Rd
Hi y'all, Curious to see what the monkeys know about Brookfield Properties Summer Internship NY second round interviews. First round was very casual and just basic RE technicals. I am working REPE now in Canada with a large firm and have done acquisitions, dispositions, AM , and public market...
Best way to bet on house price index in USA
Hi WSO , I'm a local home builder looking for the best way to make directional bets on home prices in the USA. I follow the Peter Shiller Home price Index but I can't find any ETF or index that tracks it. I'm aware of spread-betting in the UK but haven't found an equivalent for the US. Any and all...
Q&A - CRE Broker at a Top-Tier Firm
About me Been working at a top tier Commercial Real Estate Brokerage Firm in New York for 7+ Years which makes me an old geezer. Ask anything you want about the industry, happy to answer and help guide you. Separately, I worked for three years at a proprietary trading firm in Chicago before jumping...
Opinion about Algeriahome real etate website
I have discovered a real estate website named algeriahome and i want to obtain some opinions about. I think it's good
PGIM Investment Summer Analyst Superday
Hi guys, I recently got the invite for the PGIM superday in the Atlanta office and was wondering if anyone would have any tips on the interview. Thanks!
Mortgage Loan Officer -> Commercial Credit Analyst?
Long story made short; studied Finance and Econ for state non-target, got into selling mortgages after graduation (1 yr experience thus far) and I'm interested in commercial banking. First internship was one year part time in investment advisory, second intern as commercial mortgage analyst for a...
Bank accounts for investor money
Me and a few friends are looking to do a couple of real estate deals together. Is there any specific type of bank account to place funds in? Currently have a checking account for the day to day operations of the LP.
Leaving consulting for Real Estate offer in Phoenix?
Just want to get some thoughts from people in the indsutry. I currently have been consulting for about 3 years and just got an offer from a Real Estate shop in Phoenix, AZ.. I'll be coming in as a senior analyst and was offered 75k all in. I have 24hrs to decide according to HR. A little background...
Big 4 Tax - Real Estate Exit Plan
Hi All, I narrowed down what I would like to pursue and the jobs that are currently available online that I would like your advise on applying for. I have been working in the financial services group within a big 4 accounting firm and specialized in compliance and REIT due diligence for a real...
Big 4 Tax (Real Estate) - Exit Plan/Options
Hi All, I am a senior associate in a Big 4 tax (Real Estate/REIT) without the CPA license. What would be the best exit plan if I would like to break into real estate industry (I am open for ANY options)? I am so early in the stage of thinking about leaving the firm, so I would like to know what are...
Big 4 Tax - Real Estate Exit Options
Hi All, I am a senior associate in a Big 4 tax (Real Estate/REIT) without the CPA license. What would be the best exit plan if I would like to break into real estate industry (I am open for ANY options)? I am so early in the stage of thinking about leaving the firm, so I would like to know what are...
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