Real Estate Analyst Position

[Brock Landers]

OK so basically Ive been at my job here for 2 years, and I hate it. I only stay because it pays the bills while im in business school and its relatively low stress and allows me to concentrate on schoolwork. Plus I didnt want to just trade one crap job for another.
Now Ive got an interview at a Real Estate Acquisitions group in Boston tomorrow. Im wondering if any mags have any knowledge or anything at all in this field. I like finance, especially asset management and corporate finance, but real estate is interesting too. Here is a description that was listed...

Job Description: The analyst will be primarily responsible for assisting the acquisition team in underwriting potential acquisitions. He/She will prepare detailed cash flow models which project the overall economic feasibility and performance of potential real estate acquisitions. The analyst will also perform sensitivity analyses in order to confirm underwriting assumptions and projected returns. In addition, the analyst will assist in the coordination of all due diligence activities as well as the closing process. Other responsibilities include research and analysis of various markets, preparation of materials for the Investment Committee, and other analysis as needed. Opportunity: The position offers a candidate the opportunity to become a valued team member in an active and successful real estate investment company. In the past 3 years, STAG Capital Partners has acquired over 100 properties totaling approximately $800,000,000 in gross real estate costs. STAG is a professionally managed organization that offers a challenging and positive work environment.

Anyone have any advice on the industry? Im going to do a ton of research on the company and competitors, but does anyone have any questions I should ask/etc? Any help would be super

[RootSkier]

Sounds like a good opportunity. Too bad it's in Boston.

[teledave]

In addition, the analyst will assist in the coordination of all due diligence activities as well as the closing process.

This part of the job will suck. The rest sounds OK, though.

[Steven S. Dallas]

Yeah, definitely ask about your role in the diligence process. If you're coordinating junior lackeys, fine. If you're sifting through reams and reams of excel spreadsheets and leases, not so fine (but expected in an entry level position- don't really get a sense of the level from the ad).

[Missing Sock]

Looks like a pretty cool position. I wouldn't worry too much about the due diligence stuff. It is generally lawyers and accountants piling through that crap while the banking analyst just sits back and watches.

[smitchell333]

I'm a broker doing commercial real estate(and some resi too) so often end up doing much of this analyis and diligence for investment deals.

This would be an excellent position to get your feet wet in commercial real estate. These due diligence and analysis positions can be pretty intensive as with large properties with many tenants things can get complicated and of course are on deadline. So you probably want to get a sense for hours/days and whatnot to understand what you're getting into.

[AKWL]

I hope you like excel - it sounds like there's a fair bit of modelling.

[Shorey]

If you like numbers it's a good job and a good industry. There are companies and banks all over the place who will pay good money for a business school graduate with this sort of industry experience. If you are good at the job and you start saving money or making money from being clever with the numbers then they'll love you and should pay you well to keep you.

The quirks of property and the performance of property make it an interesting industry to work in. The pace of transactions can sometimes be slow though and the darker side of life is the due diligence which can become a bore if you are spending a lot of time working on one site or one region.

Have alook at the AIG Global Investment Group website and seek out their property bit if you have time. Also look at CITUS who do this type of work for CSFB amongst others.

On that note, CITUS are still recruiting I think - they have just employed a friend of mine in NY - so if you like the interview but not the company take a look at them too maybe.

Finally, if they say "We have a work hard play hard attitude here" gesticulate in a way that leaves the interviewer in no doubt that he is a wanker and walk out.

Bon chance.

[Brock Landers]

Awesome guys, thanks for all the tips. I dont think its too "due diligence intensive" but that may just be wishful thinking. Im just hoping I can learn a few things here and maybe use it as a steppingstone into asset management, unless of course I really end up liking the job.

[snow_slider]

heh, heh....you're gonna work for STAG......