How lean is your REPE dev shop?
Curious what level of support, if any, more senior folks have in their REPE development shop. Are you a one-man/woman show, or do you have junior folks supporting you?
Curious what level of support, if any, more senior folks have in their REPE development shop. Are you a one-man/woman show, or do you have junior folks supporting you?
Career Resources
"REPE development shop"
Vertically integrated.
My REIT Broker LifeCo shop is fucking huge bro
Some context. We are a small shop who raise capital, and deploy it via developments or acquisitions ranging from core to opportunistic. I'm not involved in raising capital. I partake in DD with the acquisitions team and own the project through to occupancy after closing. Currently managing a portfolio of projects nationally. Curious about how other similarly set-up orgs are structured.
Hate to break it to you kiddo, you gotta stop telling the girls at the bar you work in PrIvAtE eQuItY
Kiddo. Right.
Brother you're asset mgmt at a developer.
I hate how our industry uses similar terms for everything, and I don't want to pile on OP, but calling yourself a developer, when you buy core assets is a stretch lol
Lmao was I was thinking
I said core through to opportunistic, i.e. ground up.
This is not wrong, but not complete.
Are you just throwing as many buzzwords in here as possible? What is a "REPE development shop"?
Generally speaking "private equity" in the real estate world means a fund. Usually funds don't self-perform, they invest into operators/developers/sponsors who take on the guarantee/completion/whatever risk and purchase/build/manage an asset. You don't even see developers who use only their own equity that often, because it doesn't allow them to promote and concentrates risk.
Normally, who cares, call your company whatever the hell you want, but... you're asking a specific question, so if you want an accurate answer you should probably phrase it a little better.
I agree and lol'ed at repe development shop, and know we are not the norm, but it is what we are. We are a dev shop and we are capitalized by a GP fund that invests our portion of the equity in all of our deals. We are about 20 folks deep at this point, with half of them falling under the design/construction umbrella, most others under ops, and for acq/cap markets its just me and CIO.
This. Our company is a bit bigger, yet we have far fewer employees on the execution side, me being one of them. I'm responsible for developments from entitlements through to occupancy. We even have a property management team, all under the same roof managed by the same leadership who run the fund.
Ok
Shop I'm leaving - 5 development personnel (including me), 4 construction personnel.
Shop I'm joining - 2 development personnel (including me)
Thanks for giving an actual response.
"REPE development" shop is like "one plus one equals fish"... but I get your q.
I work at a family office with ~$500M AUM which consists of the firm's managing partner, myself, then an investment/asset mgmt associate, one person for financial reporting and accounting.
I started out at one of the large NYC office developers doing acquisitions work then transitioned into REPE which primarily focused on investing in secondary / illiquid interests in funds and other closed-end vehicles. The two jobs were significantly different but obviously the math is the same.
Sounds lean.
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