CRE Stepping Stones
Looking to get some insight into a potential strategies for a career path in CRE.
I'll start with the end goal first: Start my own shop and own/acquire a portfolio of CRE across asset classes. Nothing more specific at this point but bottom line is I eventually want to run my own show.
I'm currently working as a first-year analyst in investment sales at a top shop. I'm thinking about transferring internally to their debt & structured finance side and then potentially moving into their IB side so I can work on the raising capital portion. Afterwards I would leave for a smaller REPE and work acquisitions for a few years before trying my hand at things on my own.
Looking for some advice as to transferring around and what departments/divisions would be most beneficial for eventually working on my own.
You can go straight from IS to REPE. Sooner the better.
Second to this, no need to bounce around in different roles at the brokerage. 1-5 years as an IS Analyst at a top firm is all you need to get into REPE.
That being said, if your goal is to buy your own deals, working at a top firm is a great place to do that. There are tons of people I know that work at large brokerages that syndicate/ open funds/ reits on the side. Working in IS sales, you've already got access to buyers and sellers (capital and properties).
Monopoly,
Would you mind expanding on this some more? As someone with this goal I am surprised that at the analyst level they were able to start doing their own deals, syndicating etc
I’m currently working as a CRE lawyer in Big Law and thinking about trying to lateral to the finance side of CRE soon, with an end goal of running my own shop eventually. Similar boat to OP, so these answers are super helpful.
Damn, you must deal have some serious penis envy towards the finance brahs on this website.
Nothing beats buy-side experience if you want to eventually run your own shop. I'd recommend targeting an owner/operator vs. capital allocator/LP (there's an entire thread on this topic) as you will be more involved in the transaction/closer to the real estate/involved with the investment strategy more (generally speaking)
Any suggestions for reputable owner/operator or capital allocator/LP shops to start off with, or does it vary from market-to-market?
Owner/operators tend to be much smaller and market specific.
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This was super helpful, thanks
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BS
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