MBA for Institutional Real Estate

Need some high level advice.

Background: I work in CRE (currently investment sales brokerage/advisory but in analytical role, not a broker) and in NYC have had somewhat circuitous career so far. Worked at a GSE out of college and have had various roles in acquisitions, development, leasing and now investment sales, but none at an institutional firm/brand name. I went to non-target but solid state school and majored in Finance with a 3.8 GPA. Been out of college for 8 years now, and resisted the idea of an MBA but the value has now become crystal clear and am now convinced it is worth it for me despite being a bit late to the game. Also worth mentioning that I have an international background (LatAm). Essay-wise, I believe I have a compelling story to tell.

Also, currently pursuing a Real Estate Finance/ Investment master's from a well-known Northeast school (with a 4.0 GPA) which I would finish before the MBA. I now view it as somewhat of a sunk cost; it's been a good experience but don't think this alone will get me where I want to go.

My goal is to work in institutional buy-side of real estate (e.g. REIT, REPE, investment manager) or possibly in CRE credit, ideally with an international focus. I've noticed most of the top shops have a strong preference for MBAs, especially for people without IB/PE experience. Have a couple things I would like to clear up:

  • Is this a realistic goal for someone a bit later in their career?
  • If so, is an MBA the only realistic way of achieving it?
  • Is a top 10 MBA feasible for someone in my position? Ideally I'd like to stay in NYC or nearby (targeting Columbia, Stern)
  • Given that it is late in the cycle, should I just aim for 2025? (Would really prefer to avoid this if at all possible)
  • Is it worth hiring a (reasonably priced, can't afford $50k) consultant?

Would appreciate any input or insight into my situation from anyone with similar experience.

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