Hello,
Recently received offers from Harrison Street and Lone Star / Hudson Advisors to be a senior associate in their team. My background includes a few years of experience at a well-known value-add fund (>$70bn AUM). What would be considered as a wiser move for my career in your opinion? FYI, location is not something I care about (CHI/NYC).
Any help is appreciated.
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Hudson Advisors, although more sweaty
Use the search bar and read the other threads on here about Hudson Advisors. Not a lot of compliments outside of first year analysts who are enamored by the size of their last fund
Thank you both for your input. Indeed, I heard pretty bad things about Hudson / Lone Star culture, but they seem to work on a couple of interesting deals (including corporate RE) while HS is more toward multifamily/PBSA/Life Sciences only. Would I be "pigeonholed" by working at HS? I definitely had a better fit with their team, and the guys told me that they are working hard, but you can definitely enjoy some time off, as they are a "sweat shop"
Everyone is doing multifamily right now. Even some class A office developers are shifting into multifamily. So don’t see how that would be a pigeon hole. Can make an argument for life science being too specialized, but it’s literally one of the hottest asset classes right now. It’s not like you’re specializing in retail.
The reality of corporate deals at a place like Hudson Advisors? You will be a cog in a massive deal team underwriting a handful of properties in the portfolio. At blackstone, they will hire consultants or buyside brokers to run the Argus / do the bitch work and the deal team of 4-6 people will actually run the deal.
At Hudson they’ll just call on all of their analysts / associates to underwrite the deals individually and a smaller deal team will roll it up. Why? Because it’s cheaper.
You didn’t mention comp, but rents in NYC are insane so good luck finding a reasonable 1BR or enjoy living with roommates in your 30s.
You didn’t ask yourself about “momentum”. Look at Harrison Streets fundraising momentum vs Lonestars. Harrison street was a small shop not long ago but recently raised a $2.5bn fund. Lonestar funds was a mega fund not long ago, and recently raised a $750mm fund.
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