Hello WSO,
I've been working in CRE for about two years now, as an underwriter of Owner Occupied CRE for a smaller "regional" bank as I call it. We do well in the space, but are a fairly small group. I get a huge amount of deal flow and have been the lead analyst on over $1bn in applications in the last 2 years, but it is mostly smaller transactions. We do get up to $20mm but 9/10 of our deals are $1mm-10mm, and again, all owner occupied deals.
I got introduced to CRE within this niche specifcally, and since pivoting, have found that there are a wide varieties of industries, roles, etc. Being fairly young in my career, I don't want to pigeon hole myself into one niche and ideally would like a wide variety of exposure to transactions both in terms of size, geography, and volume. My goal is eventually to become an owner-operator of RE, but I need to get some more experience and network before I can do that. My mentor is encouraging me to become a Mortgage Broker in the owner user market I am currently in, but again am not sure I want to be pigeon holed in Owner Occupied CRE.
I came across a job posting for a bank I've heard of/read about, but never worked with, CIT Bank. They have an Associate CRE Underwriting role posted in Santa Monica, CA. This location isn't ideal for me, but the posting intrigued me, and I wanted to see if anyone in this community can provide feedback as to their experiences with this group. It appears they do a wide variety of CRE transactions over $15mm across the US: https://careers-cit.icims.com/jobs/30756/associat…
Any feedback that can be provided would be hugely helpful.
Matt Galligan is a great guy. They are very competitive in the 20-100mm bridge space. If this is an upgrade in banks for you(size and $), then I'd recommend it. It is a solid name to have on your resume.
Thank you for the feed back - That is good to know. I've looked at some groups that work in the same space, generally speaking do you know what exit opps as a Associate or VP Underwriter in a group like this would look like?
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