Looking for advice as I weigh my next career move. I am currently a VP of Acquisitions with and Asset Management (10YOE) at small regional developer in outside of NYC focused on ground up / value add multi-family and value add industrial (mostly ground up MF). Been here for a year and half but have learned that the company while having been around for a long time, in recent years has been very poorly capitalized and ability to do deals over the next couple of years is going to be a challenge. Company is struggling and a little chaotic. I have 7 years of direct industrial acq experience and quite frankly that's the only asset class I really like. Hate multifamily. I am pursuing industrial acquisitions roles, but they are much fewer and far between versus MF. The real question I have relates to a potential SVP/MD originations/underwriting opportunity I am pursuing with a growing debt fund. I like the team/company so far and the opportunity sounds really interesting. Better pay plus better job security. Would this be a mistake at this point in my career? If i were to take a role like this for a couple years and determine I don't like how difficult would it be to get back into the equity side. Any insights here would be appreciated!
Trending Content - Real Estate Forum
Career Resources
Don’t want to hijack the thread because you bring up a good topic so use this as a quasi bump, but why do you like industrial more than multi?
Much less management intensive. Simpler buildings with strong fundamentals behind. No looming regulatory pressure. Longer leases etc. Don't get me wrong, MF is obviously a strong if not the strongest asset class, but I hate being in the housing business with the growing affordability crisis. Not from some holier than now perspective, I just find the asset management and operations very annoying.
We run both debt and equity strategies and would love to see more candidates who have experience with both. Obviously different mindset but if it is a better job I wouldn't worry about it too much. Unless you go MF later on imo firms will value the breadth of experience.
I’ll think you’ll be fine to move back if you don’t like it. It’s all the same just use your network. I would love to go work for an industrial firm in NYC. I can’t figure out why there are so few here but there are. Honestly it’s probably bc the developers in NY either build office or multi. But I hear you - I’ve loved working on industrial.
Appreciate the feedback, I think the debt fund could be a great opportunity and I always value learning new skills and experiences. I think the lack of industrial firms in NYC is because its generally a harder asset class to put out large equity and debt checks and most of the institutions in the city are huge and only want to write large checks. Lots of $10-100mm deals, not as many over $100mm. Also, I think many of the best markets are in the midwest, sunbelt, southeast and thats where those firms like to be located.
Unde excepturi quia quas cumque omnis. Eius quis nihil est totam vel ipsa sit. Velit qui vero quia eum dolor. Et voluptatum aspernatur temporibus magni sint. Ipsa tenetur magnam amet quas. In vitae quos id est amet cumque.
Et nemo perspiciatis ut aspernatur nisi iure. Molestias rerum eum iure voluptates labore aliquam et. Tempora ea sit excepturi ducimus delectus dolorum.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...