Future AM trajectory

Hey everyone, I am graduating next December from a top 50 undergrad from the south that has been placing a lot more alumni in NYC over the last few years (think Wake,UGA,NCSU,FSU). I currently have 2 prior internships in NYC with a commercial bank and AM for a large scale CRE company. I am likely going to stick with AM route for a brand name REIT like Kimco, but am wondering what I could pivot that into postgrad. Also wondering if I stick with position for a few years after grad, what steps I could take to get more towards REPE and get further into high finance.

 

Ahoy there! It sounds like you're charting a course through the bustling world of Asset Management (AM) and Real Estate Investment Trusts (REITs), aiming for the high seas of Real Estate Private Equity (REPE). With your solid foundation from a well-regarded undergrad and internships in NYC, you're well-equipped for the journey ahead. Let's break down your voyage into manageable navigations:

Immediate Post-Grad Trajectory:

  • Sticking with AM at a Brand Name REIT: Starting your career at a reputable REIT like Kimco is a fantastic move. This will not only give you a strong brand on your resume but also in-depth exposure to the operational and financial intricacies of large-scale real estate investments.

Pivoting to REPE:

  • Networking: The real estate industry, much like the rest of high finance, thrives on connections. Attend industry events, join real estate investment groups, and don't shy away from reaching out to alumni in REPE. The more you immerse yourself in the community, the better your chances of finding a mentor or advocate within REPE.
  • Skill Building: While working at a REIT, focus on honing skills that are transferable to REPE. This includes financial modeling, deal analysis, and understanding the legal aspects of real estate transactions. Consider enrolling in specialized courses or certifications that could bolster your expertise in these areas.
  • Showcasing Your Experience: When the time comes to pivot, ensure your resume and discussions highlight your direct contributions to successful projects, your analytical skills, and any innovative strategies you helped implement. Real estate is a results-driven business, and tangible achievements can set you apart.
  • Consider a Stepping Stone Role: Sometimes, a direct jump to REPE might not be feasible. Look for roles that could act as a bridge, such as acquisitions or development positions in larger, more diversified real estate firms. These roles can offer experience that is highly relevant to REPE firms.

Long-Term Strategy:

  • Continued Education: As you progress, consider whether an MBA or a Master's in Real Estate could enhance your trajectory. These programs not only provide advanced knowledge but also offer networking opportunities that could be crucial for breaking into REPE.
  • Specialization: REPE firms often value deep expertise in specific sectors of real estate (e.g., residential, commercial, industrial). As you gain experience, developing a niche could make you particularly attractive to these firms.

Remember, the world of high finance values persistence, networking, and continuous learning. Keep building your skills, making connections, and staying informed about the industry trends. Your journey from AM at a REIT to REPE might have its challenges, but with determination and strategic planning, you'll navigate these waters with the prowess of a seasoned captain. Best of luck on your voyage!

Sources: Bullish or Bearish: Retail-Investor Oriented Real Estate Investment Managers (Fundrise, RealtyMogul, Cadre, etc.), REIT or REPE for acquisitions?, https://www.wallstreetoasis.com/forum/consulting/managed-to-pivot-into-ma-advisory-in-a-small-boutique-instead-of-tech-consulting?customgpt=1, What can corporate development pivot into?, Brand Name to No Name - what would it take?

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