Discover your dream Career
For Recruiters

What's it like to work for Blackstone? A day in the life of a real estate junior

Beatriz Duarte is a Senior Associate in the Real Estate Acquisitions team at Blackstone in London. She joined the firm in October 2020 and prior to that, was an analyst in the Investment Banking Power & Utilities team at Morgan Stanley. She completed both her undergraduate and master’s degrees at Nova School of Business and Economics, in Lisbon.

7am: I wake up early to seize the day and start my morning routine. I’ll scan through my emails for any urgent messages from my deal teams or external parties. If I can, I’ll go to an early morning class near the office before going into work, typically 2 or 3 times a week. 

9-9.30am: When I’m not traveling for work, I get into the office and start by responding to urgent inbounds and reading the news. As I work in the investment team, it’s important to keep track of what’s happening in the market, and publications like the FT and React News are a good place to start. 

A lot of my time is spent in acquisitions in the UK and Ireland, and my day usually revolves around projects in those two countries. These may be early-stage opportunities which means identifying and analyzing new investments, or at a later stage, when we focus more on the due diligence workstreams ahead of signing and closing a transaction. I will usually work on 3 to 4 projects at a time. 

9.30am: I like to get organized and usually go through my to-do list for the day and week. Blackstone is a fast-paced environment, and during the day I receive more assignments from senior team members, and so I go back to my list throughout the day to track my progress and see if I need to re-prioritize. 

10am: I join a weekly catch-up with one of our portfolio companies, where we discuss progress on a live deal or go through the near-term pipeline.

11am: I work with various analysts in the team and aim to catch-up with them in the morning to go through the priorities for the day. Some days are very busy and planning in advance is key to getting everything done. 

11.30am: I attend a meeting with an external advisor on a transaction I’m working on. Following the meeting, I circulate some key actions and highlights to my Principal and Managing Director where I address any immediate concerns or roadblocks.

As a Senior Associate, my role is increasingly relationship-focused, and half of my day will be spent in calls and meetings with external stakeholders, such as operating partners (who help us identify investments and support us throughout the process), or advisors such as banks, lawyers and technical consultants.

12.30pm: I like to go for a short walk with some colleagues, to get some fresh air and lunch at one of the delis or takeaway places near the office. Once I’m back, and if I have time, I’ll eat my lunch in the common area with some of the members of my team.

1pm: I do a site visit at a local asset that we are potentially looking to acquire. We’ll use that time to evaluate the location and physical qualities of the property, understand its key strengths, and identify any potential challenges.

3pm: I’m back at my desk and catch up on some emails. I then have an internal meeting with my deal team to go through the materials we have been working on for an upcoming meeting or investment committee, we brainstorm new ideas and evaluate next steps. After the meeting, I catch-up with the analyst on the deal and we go through the meeting follow-ups and/or additional analysis needed to support our investment decision, and we assess how best to divide and conquer.

4pm: I grab a quick coffee with a colleague from another business area that I met at an internal networking event. Blackstone offers great networking and mentorship opportunities, including through our employee resource groups such as the Women’s Initiative, which regularly organizes events and talks that I like to participate in.

5pm: I hop on a call with a few colleagues from our real estate asset management team to discuss one of our collective initiatives. The asset management team manages our existing properties, and staying informed about the recent performance of our assets will help us in our future investment decisions – it’s really important we keep each other up to date.

6pm: Usually by that time, my meetings are wrapping up for the day and I can spend time catching-up on work. That might include reviewing the latest version of the model or memo the analyst on the deal spent time updating earlier in the day, stress-testing various potential scenarios and outcomes, reviewing a diligence finding report or conducting market research work for a new opportunity. 

8pm: A couple of times a week, I like to go home in time for dinner. After dinner, I log back on from my home office to do some final bits of work I couldn’t get to during the day or prepare for the following day.

We also get food delivered in the office, which is convenient when I’m working in the office late. Dinner time is usually a social moment for the team, as most of the junior team tends to stay and eat together. 

9.30pm: If I’m working in the office, I’ll usually finish up my work and get a taxi home. My workload may vary depending on deal flow, and things tend to get busier when we are presenting a potential acquisition to our investment committee or are close to signing or closing a transaction.

Have a confidential story, tip, or comment you’d like to share? Contact: +44 7537 182250 (SMS, WhatsApp or voicemail). Telegram: @SarahButcher. Click here to fill in our anonymous form, or email editortips@efinancialcareers.com. Signal also available.

Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or libelous (in which case it won’t.)

author-card-avatar
AUTHOReFinancialCareers

Sign up to Morning Coffee!

Coffee mug

The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.

Boost your career

Find thousands of job opportunities by signing up to eFinancialCareers today.
Recommended Articles
Recommended Jobs
Deutsche Bank
Trader - Vice President
Deutsche Bank
New York, United States
Metis Search
Analyst - Private Equity Placement
Metis Search
London, United Kingdom
Man Group plc
Portfolio Manager (Macro)
Man Group plc
London, United Kingdom

Sign up to Morning Coffee!

Coffee mug

The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.