Why REPE?

Worked in development as an analyst. Found it way too slow and I was focused on multifamily in one city. Wanted to get much broader transaction experience across different property types, across capital structure, and a wider market to invest into so took a job in REPE. In REPE, with the right firm (supportive seniors / lack of hierarchy / lean teams) you can grow very quickly if you’re doing a few deals a year as you can keep taking on more and more responsibility. I got lucky in that I did 10 deals over 2 years as an associate, I got promoted to VP after those 2 years as by deals 8-10 I was taking on VP level responsibilities.

The learning curve is flattening a lot now - after 10+ deals you find most traditional deal formats boil down to arguing the same points, and the new deal process is pretty cookie cutter until you get into exclusivity. Will stick with it for another 1-2 years as will see distressed deals which should offer additional learning opportunities and round out some transaction experience gaps. Once the economic / geopolitical solution improves I’d like to transition back to development. Don’t want to do REPE long term, I’m not a transaction person and want to be closer to the creation / implementation of the business plan, rather than just assessing / investing in someone else’s.