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Brookfield Real Estate Acquisitions Team NYC
Searched through a number of wso threads for this info, but have not found what i'm looking for. If there are already threads on this, please comment! High level topic: Brookfield Real Estate Acquisitions Team NYC I'm curious about the organizational structure of brookfield's real estate...
Major Decisions
Hi all, I have to make some major decisions over the next couple of months and wanted this community's input. I am 6 years out of school and am a more senior Associate at a top 10 MF and recently got into a top three MBA program (H/S/W). My role is cradle to grave, but focused on a popular but more...
Loss-to-lease modeling for multifamily acquisition
Does anyone have any good tips for modeling loss-to-lease on a multifamily acquisition? I'm looking at a value-add project and am struggling to find the best way to model it. Any tips or resources would be appreciated.
Contemplating Front to Middle-Office Move - Need Advice?
Hello all, For some background - I currently work in acquisitions at a relatively well-known shop and am 2 years out of school. I'm currently living in a tier 3 city (if you can even call it that) and desperately want to move to NYC or LA. Obviously the job market isn't great and I'm basically...
Niche Real Estate Asset Classes
What are some niche asset classes in real estate that are overlooked right now and poised for growth? Ones that are considered specialist and dominated by a few individuals? I'm talking about like self-storage facilities pre GFC, that kind of thing. Curious to hear y'alls thoughts. Thinking along...
Origin Investments Acquisitions Opening
Hello - Does anyone on the forum have experience interviewing at Origin Investments (Chicago) in their investments group? Thank you!
Which roles in CRE has the most upside opportunity in 2023?
My firm recently downsized, and I'm trying to determine a next move. Within multi/mixed use, I have 3.5 yrs of Agency/Balance sheet debt lending, 3 yrs in acquisitions/dispositions, and most recently 1 yr of development. Acquisitions - I imagine headwinds for 2023. Could have opportunity is acquire...
Best Approach to Sourcing Off-Market Deals?
Trying to source more deals off market given the current CRE landscape (rising interest rates, sellers slow in adjusting pricing, high construction costs for ground-up development). What are some of the best approaches people have used? Cold-calling and asking around my broker network hasn't yielded...
Business up to $50m
I'm looking to purchase businesses for c$50m, other than investment banks, does anybody know where to look?
Real Estate Underwriting Case Study
Recently I was given a acquisition case study as part of a project for an internship with the following information provided: - 100 Unit class C multifamily being converted into class B - Market rents ~1600-1800 (Columbia Heights DC) - Renovation costs: 25K per unit - 5 year hold period - 6.5% going...
RE Acquisitions Analyst | Advice | Prospects to land a position
Hello WSO! Quick question for all of you with experience in RE acquisitions. I am currently in the NYC area and I work for a small commercial bank that specializes in CRE (deal size 10MM to 20MM, so small deals) as a credit analyst and have about 1 year of experience. I am fresh out of undergrad and...
I suck at acquisitions
Hi All, I landed my dream job in acquisitions for a multifamily group a few months ago. Bad news is that I suck at acquisitions. I have yet to find a deal for the partners to invest in. I feel like I'm a waste of company resources if I cannot do the most basic thing I was hired to do: acquire...
Corporate tax in M&A deal
Hi guys, Say company A acquires company B in a CFDF deals (asset light so not much by way of write ups and D&A advantages). B is profitable so it is expected it will have to pay corporate taxes like the previous years. How are corporate taxes factored into the deal? Is it that buyer factors it in...
Acquisitions Role at Small REPE Shop - Junior Internship
Hi, I recently received an offer for a internship from a small value-add REPE shop based in the Washington DC area. I am a current junior, so there is a big chance I go back full time if they offer me a return letter. This sounds like a perfect role in everyway, but my only concern is that since...
Thoughts on acquisitions vs. development
I always thought I wanted to do development. I work in acquisitions now. Below are my random thoughts I welcome any input. Curious to hear from others who have considered both. Development is more entrepreneurial and higher risk. Requires a certain skill set which seems like it would take longer to...
Switch to Industrial RE
My company announced a new area of real estate we will be investing in - Industrial, with a focus on distribution centers with single tenant leases in place. 100% of my experience is in MF so I have practically no knowledge of the industrial segment. My question is what are the best educational...
Phoenix Value-Add Multifamily in 2022
How are value-add investors evaluating new multifamily acquisitions in today's market? Specifically, what type of YOC figure are sponsors solving to and what assumptions are they using to get there? The obvious tailwinds in Phoenix are the rapidly growing/diversifying economy and population growth,...
Cost of Land per Buildable Unit or Total Gross Sales - Condo Development
We are looking at an off-market waterfront condominium development site in Florida to de developed into multiple condo buildings. Here are some of the specs: Fully entitled project - 5 residential pads which can build up to 275 units across multiple buildings ranging from 6-12 stories. Pads have...
$10B+ AUM Acquisition Role vs. Institutional Investment Sales Analyst Role Direct From Undergrad
Need help in deciding between the following scenarios direct from UG: Acquisition role at a shop that owns $10B+ AUM and continues to raise and deploy capital every 2-3 years, ranging from $1-1.5B per fund Average deal size is $70M - $100M+ with a main focus on office and multi investments across...
Acquisitions as a recurring item in adjusted EBIT
The company I am valuing has stated that intends to grow and has done in the past by regular acquisitions. It has acquired companies every year in the past 5 years. Should acquisitions be accounted for as a recurring item and NOT added to EBIT? I've seen a model where "Acquired in-process research...
How best to prep for a switch to an asset management or acquisitions role?
Currently work at a CMBS rating agency and hoping to leverage my ~2 years of experience to move over to the principal side. I have realized by now I am not as interested in CMBS as I thought and would rather get more direct exposure to transactions by (hopefully) making a lateral move into an...
Acquisitions: Do companies pay Equity Value, but total cost/value of transaction is Enterprise Value?
I was wondering if a company, when acquiring another, has to pay only for the Equity Value (in order to become controlling shareholder = buy shares), but the total cost of the transaction is measured by Equity Value + Net Debt, as the acquirer becomes also the new debtor, that is, the debt act as a...
REIT to REPE sponsor
Hello all! I currently work as an acquisitions analyst at a large public REIT. I started off working in the operations department as a utilities analyst. My question is, do public REITs offer good “experience” (something to show as a sort of track record) when it comes to forming your own...
Target Acquisition
Hi All: I am interested in Target Acquisition as in M&A and /or identifying LBO good targets. I worked for a niche consulting firm that specialized in acquisition target profiling, however, I careened into FP&A with a heavy data emphasis for last few years. My first love has always been target...
Asset Management vs. Acquisitions CRE
For my peeps who were/are involved in asset management and/or acquisitions, what would you say the differences are in terms of work-life balance, pay, and promote structure. I'm familiar with the differences in the day-to-day aspect of each but am curious to know more outside of the job itself. If...
Acquisitions Analyst or Acquisition Analyst
The question im sure we have all been asking ourselves - Which is more correct Acquisitions Analyst/Associate or Acquisition Analyst/Associate? Seen it both ways but would love to get some feedback from the group.
Acquisitions Analyst. How not to be Sh!t?
I am about to start an acquisitions role for an industrial firm that looks at Core and Development opportunities. I am coming out of a debt background(all assets types) and have only ever seen equities deals when I was consulting for this guy trying to buy noninstitutional multifamily and retail...
Identifying Acquisition Targets
Hi all, I'm trying to learn more about M&A from a strategic/management consultancy lens (as opposed to a banking/financial one.) Specifically, understanding different strategies and criteria that are implemented in order to identify acquisition targets. Could anyone recommend any resources: books,...
Acquisition Analyst Salary
What is the typical real estate acquisitions analyst base salary in Los Angeles? I heard of people in New York making $120,000+ in this position. Just wondering what is market over here, and what to counteroffer if a company offers lower than your expectation (say, $75,000)? Would it help if I were...
Acquisitions Underwriter vs. Acquisitions Analyst
I'm currently interviewing for a position as an acquisitions underwriter. Doesn't this role have similar responsibilities as an acquisitions analyst? The company I'm interviewing for has both positions, and I'm not quite sure what the difference is.
Can a SPAC merge with an already listed company?
Hi Monkeys - I am wondering if it is possible for a SPAC to merge with a company that is already public. The purpose of such a transaction could be a couple of things: existing public company doesn't want to go through the process of a share issuance to raise new cash foreign public company wants to...
Starting in Brokerage vs. Buy-side out of undergrad
I'm currently graduating from a T20 School and looking at full-time analyst jobs with a top capital markets group (CBRE, JLL, NKF) in LA and a buy-side (dev/acquisitions) role with a T1 Developer (Tishman, Hines, TCR level) in another T1 west coast market (but not a market I have any kind of...
Land Acquisitions for Energy Asset Developer vs Analyst Role at Full-Service Real Estate Advisory Consultancy
Hi folks, I am interviewing right now and would like to pick your brains. I'm broadly interested in opportunistic developments, but do not have a strong preference for a particular asset class. I am far along in my candidacy for: 1. A Land Acquisitions/Entitlements Role with an Energy Asset...
Hotel + Co-working/Co-living Operator Investment Team Exit Opps
Hi Guys Hope all is well. Does anyone have any insight as to what the exit opps could be for one who works in the investment team of either a hotel, co-working or co-living operator? i.e., renting out hotels, offices or co-living schemes and then subleasing to tenants. Would one be able to move into...
LifeCo Positions on the Equity Side
Hey Monkeys, Wondering if anyone who's been in an equity position at a lifeco can talk about culture/comp/where they exited to. I'm currently working at a sponsor as an internal capital markets guy, where I finance deals once committee has approved the deal. This is about 70% debt or...
Seeking advice for new role as 1st year acquisitions analyst in REPE
Hi, I will be starting a new role as an acquisitions analyst at a REPE shop at the beginning of the new year. I have a strong background in real estate with internships and my education, but this is my first full time job. If anyone with previous experience in acquisitions has advice on how to put...
Interview w/ Baseball Pro turned Real Estate Acquisitions Analyst
The following is an interview with RE Acquisitions Analyst and new WSO Blogger PinkPoloShorts (he is also available to answer your questions) Are you a professional and want to do an interview? View our interview template here and then email me your responses to [email protected]. Q&A's and...
CBRE Investment Sales (Multifamily)/Capital Markets Analyst Vs. CRE Lender
I am currently an underwriter for a regional bank who is a driver of CRE in the region. I make around 65k. I could be a lender in 1 year and make 80-100k. I am being poached by CBRE - a multifamily IS group - to be an analyst. They keep telling me the first couple of years will be rough but will...
REPE Acquisition/Development Career Milestones
Hey guys, in the spirit of self-improvement during this Covid-19 madness, I am doing some reflecting on my career and identifying which experiences/skills I have and which I am missing at this point as an associate. I am wondering what are the essential skills/experience that you guys had before...
Have an interview with a RE investor for an acquisitions analyst, what should my comp expectations be in Bay Area?
Finishing up my MBA and an associate at a REPE firm in the EU. I just recently got laid off as the fund is relatively new and they aren't able to generate business until later this fall by our projections. I am able to finish my time there up to the point of graduation which is good, but not I am...
To all you ACQUISITIONS people, explain your process at the ANALYST level
Hey everyone, I am about to start an investment analyst internship in acquisitions and I wanted to get some knowledge from you all on the step by step process an analyst takes when put on a prospective deal. You know, you're sitting at your desk and then get an email saying, "We need you to get...
Accelerator Program for Acquiring SaaS Companies
Hey all, I'm in the process of launching a course/future accelerator program to work with a select few MBA consultants make the switch to CEO through search and acquisition. As much I appreciate the traditional search fund model, i felt that it limits the autonomy as an entrepreneur as to WHERE they...
Current Underwriting Assumptions
I'm curious what you guys are seeing/assuming in underwriting these days. My shop invests, develops and manages in tier II/III markets in the Northeast. We are seeing our actual expenses across our portfolio vary widely from what the market is assuming to get deals done. The biggest variance seems...
Has anyone used Trepp to source an acquisition?
Are any acquisition groups out there using trepp to source off-market deals? I recently took a call with one of their reps and demo'd the platform. Having access to loan info is great but I'm having trouble seeing how additive it can really be from an acquisitions perspective.
Employment Dilemma
My real estate experience consists of +4 years in MF acquisitions. About 3 months ago, I left my old company on good terms and transitioned over to the development side (MF). I work for a small shop with a good group of guys who are intent on growing. Culture is good, work/life balance is good but...
Introduction & Request for Advice
Hello all! I am currently a graduate student working towards my master’s degree (specifically, an M.A. in something akin to strategic management) from a target school while working a full time job in the tech space. I have become increasingly interested in the finance industry, particularly...
Best Groups Evercore NYC for Prestige, Deal Flow & Top PE Placement
Now that Evercore's M&A NYC Analyst class is getting bigger (~50 Analysts) and they are placing Analysts into groups earlier - I was wondering what the top groups at Evercore are considered to be? I'm interested from a deal flow perspective, prestige perspective, and best exit opportunities into PE...
Underwriting Exit Caps
Hey gang — was wondering how those who work in asset underwriting predict their exit cap rates. Obviously there’s a number of ways to go about it, but none I’ve heard of are very scientific because of the fact that such a metric is typically 5+ years out. With that said it is one of the key...
USAA Real Estate - Culture/Repuation
I searched on here but found no commentary on USAA. They seem to have a large real estate investment arm. Can anyone shed light on the company? Pay/culture/reputation/exit opps/advancement opps. Anyone know what San Antonio is like?
Moving from Subsidiary to Parent REPE
Have the opportunity to join a specialized subsidiary shop of one of the larger REPEs (think BX , Brookfield, Carlyle, etc.) as an analyst. The subsidiary is very specialized imo, but I'm very interested in some of the other asset classes the parent invests in. Is it possible to jump from a...
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