Moving from Real Estate Debt to Equity? Or Equity to Debt?

Curious as to how easy it is to transistion between Real Estate Debt and Real Estate Equity?

My understanding is that many aspects of the job are similar. What is the general consensus around this?

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From what I’ve heard, it’s easier to go from equity to debt, but the other way around is doable. Also, it depends on what kind of debt shop your at. If you’re at a fund that does deals higher up the capital stack and closer to the first position of loss (I.e. more risky/complex) then it would be easier to transition to equity, compared to working at a lifeco debt team that only does senior loans on class A stabilized assets. That said, you will get a ton more reps in at a debt fund. Correct me if I’m wrong please!

 

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