Better career path: associate at REIT or small PE shop?
I am currently a 3rd year acquisitions associate/analyst at small repe shop ($240m in assets, currently raising $40m fund) and received and unsolicited offer at a well regarded reit for the same role. I like my current job where I am involved in all aspects of the company, including acquisitions, asset management, financing, disposition, and due diligence, as well as the opportunity to get onto the deal sourcing side very soon. At the reit I would be the most junior on the acquisitions team and my job would be more confined to Argus modeling and due diligence because of the corporate structure. There is also limited room for promotion so i would have to move again in 2-3 years most likely.
I am looking for some advice on what opportunity you think could open more doors? Being essentially an analyst for a few more years at the REIT does not necessarily excite me, but if having a top REIT on the resume would open more doors down the line than having a deal sheet at the small repe shop it might be worth running the numbers for a few more years. I would be working on much larger deals in better markets. Thanks in advance to any who reply!
Hi gunners02, check out these threads:
Fingers crossed that one of those helps you.
Bump
REIT. Sub 1b AUM is far too boutique unless you’re the founder.
How is a sub 1b AUM firm automatically "too boutique"...?
Far too boutique for what? Joining an early, growing platform could be an incredible position. This isn’t IB, it’s not Goldman or bust…
Bump
I would not take the REIT opp. REITs are boring as shit.
If you want to jump somewhere with more of a name brand, wait for another PE opportunity rather than jump to the REIT. REITs can be a snooze fest.
Sounds like you're getting great experience. Is it a growing firm? If so, stay in on the ground floor if you get along with the folks. Who cares about having a large brand name on your resume if you can play a large part in a firm and become a principal. There are plenty of people making a lot of money at firms you've never heard of. No shame in staying with the same company for a long time, you could be in your exit op already. I look at some of the people who have been at my firm for 20+ years, and they are doing A-ok.
Can you share what asset this REIT focuses on and comparable REITs? Generally, life will be more siloed there and likely more quarterly reporting/corporate functions.
Having interviewed 50+ people over the last two years, my companies general consensus is that candidates from REITs are too far removed. We’d prefer someone from a smaller shop that is involved in everything.
What type of company?
What type of company?
GP with ~5B AUM.
That’s surprising. There seems to be a decent amount of REIT exits to the GP-side, having been on both sides. Must be REIT-dependent.
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