Trying to understand what my role is…
So I’m joining a mid-sized developer as a “Financial Analyst”. Initially I thought this meant working on the acquisitions team, but then came to learn there is a separate acquisitions team.
The job description and interviews were heavy on financial modelling. Job responsibilities include “create and review proformas, partnership models, debt and equity structuring, review debt and equity DD packages”.
So it seems like the role is more on the financing side which I’m assuming means looking at a lot of waterfalls? But not as much on the actual sourcing / operational analysis at the project/property level.
Is this type of role common in the RE development space? I always thought these roles would be combined into one acquisition function, where acquisition encompasses the underwriting from acquisition -> financing structures -> returns. How close would I be to the actual acquisitions part?
Sounds like an Asset Management role.
You probably have to start out underwriting the deals before you start sourcing. Seems like great experience and with enough experience they’d def bump u up to the investments team. My company does the same thing.
That's not the best that they didn't clarify the role, but yeah always good in the interview process to ask. Sometimes they'll say hey it's AM and acquisitions but heavy on the AM side right now (60-70%) and acquisitions will pick up.
Right now people who have jobs are on the AM side so that's good news. See how it goes for 6 months to 1 year and mid next year see if there's an opportunity to work with the acquisitions team and do both. There are some people who straddle both with others who may just focus on AM, but the idea is good you're getting familiar with their portfolio and in say Jun 2024/when you see them discussing ramping up acquisitions and maybe hiring someone ask your boss (head of your dept) if there's any need and you can help on the acquisitions side as well. But it's always politics, I know places that are open and happy to help where as others who don't let their juniors get traction and are selfish.
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