Investment Sales -> CMBS, Conduit, Debt Fund, Special servicer.. etc
Hey guys,
I am currently working at a decent brokerage firm which was just bought by one of these big boys (CBRE,JLL,Cushman) in NYC. I do pretty well here, but I'm at the point where I just don't want to do brokerage anymore and try something more 'institutional' for lack of a better word. I've been looking at online career websites and been spraying my resumes sporadically, but not much bite. I wanted to ask you guys if it's possible to switch directly from investment sales to cmbs at BB/conduits/special servicer or just wasting time.
Also, would it be easier if I make the switch from investment sales to debt division and then try to get into credit world? Quick background of myself - semi-target state school/1.5 years of experiences/some finance.
I would really appreciate any advice and networking tips to get it done. Thank you!
Do you do any modeling at your shop? I think it'd be easier to transition to the debt group to use as a stepping stone. With that said, I don't think its impossible to get to a cmbs shop (i've seen office leasing to PERE before) so anything is possible.
Also I'm assuming you work at MK?
Decent investment sales firm just bought by one of the big guys? Massey Knakal
Moving to the debt group would no doubt make it easier but still seems like a possible move to me from investment sales. Also, look at getting into a loan sale advisory group, a bulk of their work would be for CMBS. The loan sale advisory business isn't as active as is it was years ago but would be worth looking into.
Moving to the debt group would no doubt make it easier but still seems like a possible move to me from investment sales. Also, look at getting into a loan sale advisory group, a bulk of their work would be for CMBS. The loan sale advisory business isn't as active as is it was years ago but would be worth looking into.
Thanks guys. One more question, assuming I want to eventually break into CMBS or BS division of BB, is the recruiting process as structured as IBD or can I lateral into the group with few years of experience.
You can definitely move to a BB to do CMBS or BS lending (outside of school recruiting channels). Can't imagine BS lending would be too tough but obviously CMBS at at BB will be much harder.
I will say though that most people that I've seen make the jump already had debt experience.
Thanks for the insight. I guess I should aim for internal transfer or lateral to a reputable mortgage team first.
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