FTI Consulting/Alix
Apologies for hitting up the board to ask, but is there any good information out there or views on FTI Consulting RX and RE Advisory type firms and how players in RE view that will position a career? Sort of intended to ask those with 10+ years experience how they see going into that type of work and the experience/exposure you come away with against the landscape of a long term career in RE. There’s a few older posts but I don’t think any relate to RE specifically
Turnaround firms don't do anything related to true CRE. I was in both restructuring inv banking and worked at a turnaround firm (like Alix/FTI), anything to do with RE involves the sale of distressed real estate assets. There's no capital around to really improve upon the asset and as the company approaches bankrupcty the focus will be on conserving cash and ensuring the senior debt is not in default. During my time in restructuring, where we were teh Chief Restructuring Officers of hospitals say, anytime we dealt with property was selling off property using local brokers to free up cash flow for working capital purposes. You're better off in Real Estate IB or at a capital raise shop like CBRE/JLL/HFF if you want capital markets experience not FTI/Alix.
Thank you - this is incredibly helpful. I wasn't certain how hands on these firms typically are in CRE capital markets. Was really curious if it's typically sourced out or if there's in house teams that do the heavy lifting as well. They've been growing and after seeing a few of the household name restructuring's, it sparked the question/interest.
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