I may have an opportunity to convert FT at a single-office smallish development firm that I worked at last summer. It's a retail-focused shop in a good market with excellent managing principals and a solid culture. I'd prefer to do REPE to development, but I wouldn't turn down the job or the paycheck for an opportunity that may not exist.
My main concern would be making an exit in the even that I really want to do something else, or in the event that the cycle takes a downturn and they simply can't handle the G&A drag of non-senior employees. Assuming b-school is not a viable option in the event of the latter (grades aren't an issue, paying is), what should I expect my exit-opps to look like?
Exit opps are great. I worked at a small development shop focused on multifamily and learned a shit ton (from land acquisitions, project financing, entitlements, design, construction, stabilization, disposition) . I now work in REPE acquisitions (still in multifamily), and underwriting MF acquisitions is a cakewalk compared to underwriting development deals with complex capital budgets, financing, and lease up. I have found that a development background is also highly respected in the industry. I would strongly consider staying for a few years and learning as much as you can.
This ^
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