Brookfield Properties - Development
Hi All - received an offer from the development group at Brookfield Properties - was wondering if anyone had insights into the type of development deals they do - seems like mostly core in gateway cities, but wondering if you all think this kind of exposure is valuable for going into development on my own 2-3 years out in the MF & Logistics space. thanks in advance
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2021 internship
Yes, great place to start
Great place, check out the Fifth & Broadway project they just finished in Nashville, they are fairly diversified in all reality
That was an inherited deal from their OliverMcMillan acquisition, so not a true “Brookfield” deal, but just shows the sheer size of development transactions they like to work on. If it’s not a nine figure capitalization at a minimum they’ll probably pass on the development opportunity.
Go into development on your own in 2-3 years?!?! I love it!! Go get 'em young king!! Just make sure you have an 8 figure balance sheet backing your deals and signing the guaranties before you leave your awesome gig at Brookfield.
Lol!!! My thoughts exactly.
He could start with small duplex Reno’s though.
heard it sucks and the experience is very one dimensional
Please elaborate if you can. Are you saying that one would be are not exposed to the entirety of the development process?
The one development associate I know from there was kind of unimpressive. Their only experience was working on one specific project in the area. Very siloed. Basically just working through entitlements with the city. Did not evaluate new sites or work on acquiring sites at all. Maybe this is just a market related issue. I'd be surprised if the role wasn't more broad
Good shop and name but if you are seeking to get into logistics and start your own shop soon I would consider how the experience of working at a mixed use mega developer developer aligns with your goals.
2-3 years is often not long enough to even put a shovel in the dirt for the deals Brookfield does. If you are starting your own shop you will want to have seen projects from start to finish. And from someone who also wants to start their own shop some day you might realize that it takes closer to 10 years to gain the experience to do your own deals and the credibility to raise capital. Unless you have unique circumstances you may find that in 2-3 years you'll realize it will take another 5-10 years to get to that point.
Bump
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