Applied for RE Pre-Development Analyst, Offered Development Capital Analyst

Hello all,

I have been working in RE brokerage for the past two years or so and am looking to make my move to development, where I have a particular interest in learning the permitting, entitlement and acquisition process. I have been interviewing for a great firm as a pre-development analyst which would have been perfect for tackling all those things, however after a pause in communication the firm got back to me today that they have run out of headcount for their development team and cannot hire me on to work in that team, but they still want to bring me on to the company and offered to set me up with the development capital team in a role that would consist largely of budgeting and forecasting.  They also hinted at the possibility of switching teams at the new year when they possibly are granted the ability to increase headcount. They told me if I was not interested, the best they could offer was to keep in touch and see what happens at the end of the year.

I am particularly interested in learning the development process and feel disappointed to be being sidelined to a different team, but at the end of the day I would still be working for an active developer just not on the front lines of the development team.

What advice do you guys have? Should I stay in brokerage and continue to network to look for the perfect opportunity on an actual development team, or should I not look a gift horse in the mouth and take a financial role at a great active developer, with the possibility of switching teams a short while down the road?

I appreciate any advice.