Igor Derbaremdiker

Associate Director
GE Real Estate

  • MBA/PRE Year: 2006
  • Concentration: Real Estate Investment & Development
  • Hometown: Kiev, Ukraine

Career:

After earning my bachelor’s degree in economics from New York University, I joined JP Morgan’s Investment Banking Division as an Analyst.  There, I developed financial projections to evaluate business plans, synergies, and industry fundamentals.  My interest in real estate strengthened considerably after my temporary project with JP Morgan Partners, private equity unit, where I analyzed real estate properties and calculated the profits on domestic and international investments of industrial and office property types.  Two years later, I continued my work at JP Morgan as a Financial Analyst in the Finance & Risk Management Division.  I then decided to get a real estate education and an MBA to enhance my leadership skills, and came to Cornell. 

While at Cornell, during the summer of 2004, I worked as an Associate for The Davis Companies, a real estate development firm in Boston, where I was involved in performing due diligence for potential acquisition and development projects.  I also tracked performance of existing office, retail and industrial holdings, conducted financial analysis and performed market research.  During the summer of 2005, I worked as an Associate for Brookfield Properties Corporation, a real estate operating firm in New York, where I was involved in preparing feasibility studies and cash flow forecasts for potential acquisition targets.

Now, I work for GE Real Estate’s Equity Investments group where we source deals and acquire large portfolios of industrial, office, and multifamily asset types. 

Looking back:

My prior investment banking experience at JP Morgan was a mere bridge that linked my general economics education with in-depth knowledge of debt/equity capital markets.  Certainly, Accounting and Corporate Finance played a big role in my understanding of capital markets, but in order for me to learn about the nuts and bolts of real estate, I needed a more focused education.  Cornell was a perfect choice for me, I learned Argus which allowed me to quickly assess the feasibility of any deal, the Entitlement and Development processes, and various means of identifying and solving unforeseen obstacles.  Learning these skill sets played a crucial role in my decision to come to Cornell for an MBA and an education in Real Estate.

Perspective on Dual-degree:

The dual-degree definitely helped me secure my current position (as well as internships), and I believe that I was a more competitive candidate.  Both, the MBA and MPSRE, have provided the filler to the ‘gaps’ and has also enabled me to network extensively with a fascinating and diverse group of people.  For me personally, pursuing both degrees enabled me to reach out to people from various backgrounds and careers.  Networking is also an important aspect of the Cornell experience.

What makes both programs special is their size.  Because Johnson and PRE are small programs, your network becomes extensive, and I do not exaggerate when I say that you will get to know 500+ people!  Through class participation, team projects and school activities your network develops like a spider’s web, and opportunities are immense.