For those with experience/insight, what are your thoughts on working for a well capitalized (+$2bn net worth) and active (~5 deals purchased TTM) family office (CRE focus) with a lean headcount vs going into REPE?
Looking for insights on comp, experience/education, Industry exposure, wlb, foundation for longterm career building, etc.
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Family office money tends to be more long-term plays and patient with no need for a near term capital event. From my perspective in multifamily, this is the type of buyer that is going to be most active between now and 2028. If you are going to an REPE shop especially one without a fund and needs to source equity per deal expect a whole lot of nothing for the next 2 years.
This is the way. REPE shops can't afford to hold the stash until the cap rates drop, HNWs can.
Family office >>>
Any other cycle, REPE>FO, but right now, FO all the way. Less upside but you're active (which gives you long term upside) over the current REPE guy who has illusory upside (it aint coming) and can't be active. Stability / staying power is name of game in this market, and FO has that in spades. Old white guys with no plan/pressure to sell and don't give a hoot about negative leverage, that's the ticket at the moment.
Great posts. I agree!
I work at a large FO. Happy to speak offline.
How does working in a FO stack up against other RE paths long-term for building personal wealth? Brokerage, institutional investment, lending, etc?
All of them depend on participation.
If you’re only getting salary + bonus, you aren’t building wealth.
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