Related Cos
Anyone here have an opinion on Related? How are they perceived? Good reputation? Bad reputation? Sophisticated/unsophisticated?
Anyone here have an opinion on Related? How are they perceived? Good reputation? Bad reputation? Sophisticated/unsophisticated?
Career Resources
What part of Related? Fund Management, Development (what part?), or leasing, sales, etc...? What kind of job?
They're pretty sophisticated as a developer in terms of having built some great buildings in NYC and mixed use projects. Some with REPE money (e.g. Columbus Circle in NYC with Apollo Real Estate Advisors), some with institutional funds from the US and elsewhere (on a deal by deal basis). They're doing the Hudson Yards development with Oxford Properties. It's a huge project (that article goes into detail).
The Fund Management side of the business is run by Ex-Goldman REPIA guys who left GS a year or two after the financial crisis. Smart folks. Well connected. Pretty down to earth actually. It's a relatively new part of their business and I believe they're focusing on deals where they can use Related's development capability.
It is definitely more of a developer/operator rather than an REPE/financial type company. The owner is kind of a big deal. I think he is the "Ross" that the University of Michigan Business School is named after. Must have cost him quite a bit.
Yes - Ross is the guy that the school was named after - i.e. he bought it. And he's a badass.
Related in general is a very strong firm. Amongst the top tier of developers, they are known for taking more risk in things like zoning / relocation / etc... they own NYC and can get shit done.... as mentioned above, their fund managment business is just getting started, but they seem to be building on a solid foundation and sticking to their core competencies. They have investments/accounts with some of the biggest investors in the middle east (Qatar I think, plus some of the big families), so that seems to be going well for them.
http://www.crainsnewyork.com/article/20120603/REAL_ESTATE/306039978
that's interesting.
I've worked with some guys from Related and was impressed. I got the impression that it's very stratified, however. If you are OK with the culture, I'm sure you would learn a great deal. They have some exciting projects...Hudson Yards redevelopment and others mentioned here.
The Real Deal recently had an article on the Related executives, including new CEO Jeff Blau, company background, and the story behind the start of their first fund. Won't let me post the link since I dont have enough posts but its worth checking out.
By the way, how funny that someone above described Related as very "stratified" and that some might be put off by the culture, when this very article explicitly declares: Despite his young age, Blau was able to make a mark because Related was “the kind of place where titles didn’t matter,” said Silverstein’s Burger.
Thanks for digging that up Prospie
Construction is set to begin on the first stage of a $15 billion city-within-a-city that aims to reshape Manhattan's desolate far West Side, kicking off the largest privately funded office development in the U.S. since the economic downturn.
New York developer Related Cos. has assembled a new group of financial backers and said it plans to break ground in November on the initial 46-story office tower of the 26-acre Hudson Yards project, a sign that the dormant market for U.S. commercial development is showing early signs of life.
"This will be the Rockefeller Center—the heart of the city—for the 21st century," said Stephen Ross, Related's chairman. "We are going to build a truly world-class site." http://online.wsj.com/article/SB100014240529702034006045780730521310337…
Related Midwest Culture (Originally Posted: 06/26/2017)
Does anyone have any experience with the Development Group at Related, particularly the Chicago office? Mainly curious about the culture (hours...views on young talent...opportunity for advancement...comp...etc.) Any feedback is appreciated.
I hear Curt Bailey is pretty inaccessible, often in NY or the Eastbank Club. I asked the VP of Development (Anderson) what type of applicants they get and he said they just got an application from someone who interned at Lazard and it will come down to a reference from a friend there. He seemed really cool and sharp.
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