Land Acquisitions?
What are everyone's thoughts on a land acquisitions analyst role? I'm interviewing for a position as a land acquisitions analyst at a top North American home builder that has moved into commercial multifamily development over the last few years. The role will be focused on land acquisitions and developing the CRE side of the business.
As I understand it, this is basically a development analyst role but focused on the pre-development phase? Would this role teach me the fundamentals to be flexible between lateraling to a full-on development role or an institutional-type acquisitions role later on?
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Toll brothers
Super niche, if you are only focusing on land acquisition and horizontal development. Could be an interesting place to start but I would plan to leave after 2 - 3 years unless you really love raw land.
I hate this space and it has killed so many shops, but it's a necessary part of the development cycle.
toll brothers, pulte homes and every other large home builder as a land acquisition manager role.
i don't think you will learn as much to transition to acquisitions or something along those lines. i think pulte has an online form you fill out to do the bottoms up analysis. they know what hard cost and soft costs are so you are just doing plug and play in an online tool.
you also have a research team for TH, single family deals so it's a very straight forward. you will then pass it on to the entitlement team once you buy the dirt.
i think it will more interesting working at a trammell crow, greystar or another stop where you might see various parts of the process.
I did Acquisitions for one of those you listed, not much analysis and to be honest it got boring.
This.
I interviewed for this exact role with Toll awhile back and it sounded incredibly boring. Not sure how much analysis on Land that can be done by an Analyst when the real work is being done by the Environmental, Engineering, Architecture, etc teams.
The only positive was it’s a brand name. I wouldn’t go into a role like this either thinking “I will just transition to their Apartment Living or City Living”. Those roles are almost 100% filled by MSREDs and even those are pretty much straight project management roles. The real property level Acquisition analysis for institutional level deals is done by their Corporate HQ Debt/Equity Finance team.
Agreed
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