The job description was more tailored towards due diligence than underwriting, but had 1 line about updating financial models for investments.
The majority of the duties are making sure all the due diligence material is in order etc, with the financier, etc.
Any thoughts about this type of position?
Ronclue, bummer your thread hasn't had a response yet. Maybe one of these threads could point you in the right direction:
You're welcome.
bump
Can't help too much because I'm a student too, but this sounds like a really good position to start in. Personally, I've been looking mainly at Investment Sales and Capital Markets jobs that focus on underwriting (mainly at the big brokerage shops) but I'd love to work at a REIT--haven't seen a whole lot of places looking. Where did you see this job post?
It's not uncommon that a REIT will have a "Transactions Manger/Analyst/Associate". Their primary duties are more qualitative rather than quantitative in my opinion. Essentially, the person will schedule the various customary inspections during diligence, communicate with the lender, report findings to the acquisitions team, ensure legal documentation is in order, etc...
Those in this position are not considered to be on the "business side" or revenue generating side of the business. For that reason I'd pass unless you believe there to be a path to the acquisitions or asset management teams.
I'd also add that this position may be somewhat of a glorified paper pusher type situation with limited creative or thought provoking work.
Have a buddy who did this for a year and hated it, referred to the job as glorified admin work.
On the bright side, he was able to leverage that to an actual acquisitions analyst job at a competitor.
To echo JimboUSC, this position may even be described as a glorified paper pusher as well.
That being said, its a great opportunity to learn the inner workings of how a deal gets done; however, I suspect you would have similar exposure as part of an acquisitions team without having to deal with the mundane and often redundant work of a transactions person.
Curious as to these general roles within REPE/REIM/Sponsors. I assume with 2 years experience in this role you are assisting the team in scheduling third parties, checking off items Seller provided, speaking with the governmental agencies, etc. But ~5 years in and say you are a Transactions VP/Manager, would this not be the same exact responsibilities this role would be comprised of 2 years in as an Analyst? Perhaps they take on other ad-hoc tasks such as Hold/Sells or assisting with the portfolio reporting.
As mentioned above, since this is not a revenue generating role, has anyone had experience with this role and how compensation would be over the course of 2 years, 5 years, 8+ years?
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