Real Estate Private Equity (REPE) PDF

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Författare: Jorit Bödecker.
Die Assetklasse der alternativen Investments bietet Anlegern eine Vielzahl an mo glichen Erga nzungen fu r Ihr Portfolio. Zu den alternativen Investments za hlt auch Private Equity und dessen Sonderform Real Estate Private Equity (REPE). Es erfolgt zunächst eine Darstellung der Finanzierungsform Real Estate Private Equity und die damit verbundenen Investitionsmo glichkeiten. Diese Investitionen sind u blicherweise sehr illiquide. Daher wird die Mo glichkeit vorgestellt, einen REPE-Dachfonds in der Gesellschaftsform einer Aktiengesellschaft zu strukturieren, um die Liquidita t einer REPE-Beteiligung zu steigern.

Please refer to our full privacy policy. If you’re new here, please click here to get my FREE 57-page investment banking recruiting guide – plus, get weekly updates so that you can break into investment banking. We’re going to fix that with an interview from an analyst who networked his way into real estate IB, coming from a non-target state school. Q: Okay, let’s get started with your story and how you broke in. Were you more interested in investment banking, or in real estate? I went to a state school and networked quite a bit with alumni to find my role.

And in turn, you, as the mentee, need to perform well to ensure that your superior looks great. When I found myself on a real estate-related team, I thought about getting a real estate license but that sort of background is not necessary from an entry-level standpoint. So I was definitely more interested in investment banking from the start, and just happened to network my way into a real estate group. Q: I know we’re not focused on networking here, but any tips on how to stand out? Attitude: If I give you an assignment at 3AM, will you have a smile on your face the following morning? Or at least not be drooling on your desk? Attention to Detail: Are you able to check your own work?

If I don’t have time to do all of my own assignments, then I definitely don’t have time to do your assignments. Teamwork: Can you anticipate the needs of your teammates? If someone is working on sector pages, and you happen to come across a useful article, will you be able to create a quick 3-point summary so your team doesn’t waste time? Q: And what other tips do you have on getting in if you can’t use on-campus recruiting? Side Door: Networking through alumni and internal referrals. Back Door: Taking another role and then transferring internally.

Window: Volunteering to work for free and then creating a position for yourself. Through the Wall: Get in during a Superday by fostering the right relationships way in advance. Here, you just need to be certain that you show passion for the sector to maximize your chances of being placed in our group. These firms are sort of like private equity firms, but for properties rather than companies. They buy and sell properties, operate and improve them, and sometimes even develop new properties.

So they have huge financing needs and need to issue debt and equity constantly just to continue operating. Home Builders: These firms construct and sell homes, often for particular geographies. Sometimes these firms also offer financing services through a separate arm. Length-of-stay is critical and can be boosted by amenity expansion and upscale hotel additions. Q: You discussed REITs above, but how often do you work with individual properties in a real estate IB group?

For example, would you ever be involved with selling or financing the acquisition of a regular apartment building? A: It depends on the group, but at most large banks the focus is on REITs, the other sectors above, and companies that own chains of hotels and resorts rather than individual properties. Post-financial crisis, I’ve also seen real estate investment banking teams adopt a more principal-oriented approach to the real estate sector. Of course, you should expect the deals to be pretty sizable or notable to get the attention of an investment bank. So while the two fields are arguably similar, they are actually quite different. I’m not saying it’s impossible to go from one to another, but you would be better positioned coming in from a general finance background as opposed to a realty background.