Acquisitions Job Duties

Hi Everyone,

I switched from investment sales to a joint asset management/acquisitions role at a reputable firm about 6 months ago, and it hasn't quite lived up to my expectations. I'm wondering if you can shed some light on strictly acquisitions roles at the senior analyst/associate level as I don't think I'm going to last in this position long term.

  • What does your average day look like?
  • Do you have to deal with reporting and data management?
  • Are you allowed/encouraged to help source deals, or are you stuck at your desk crunching numbers all day?
  • How fast is seniority earned? Are you typically included in meetings or are they behind closed doors?

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Comments (9)

Oct 12, 2021 - 1:13pm

typically at larger companies it's more crunching numbers and just helping underwrite deals so more like analyst work for first couple years even on associate level from what I've seen. At smaller companies or middle market shops you're gonna be sourcing or expected to source and travel around more right away. 

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Oct 12, 2021 - 2:10pm

As an associate this is what I handle: some deal sourcing, full underwriting, source debt, source/vet PM, source insurance, tour asset, capex budget, draft/submit legal documents, pitch deal to IC, handle DD process/closing. Within this there is a decent amount of "admin" work such as submitting documents and getting signatures.

Everyone who wants to get into acquisitions puts a lot of emphasis on sourcing. The reality is depending on the markets you are covering it doesn't require that much manpower. Plus brokers react best to parties that have earned them commission or with a firm with a solid track record. I wouldn't jump to a newer/no name shop just to get sourcing experience since you will be spinning your tires. As an analyst/associate the best thing you can do is email/call brokers deals you are working on and ask lots of questions to build up the relationship and show them your shop is serious about pursuing the deal. 

As for seniority, I have direct contact with key decision makers and am included in essentially anything deal related. 

  • Analyst 3+ in RE - Comm
Oct 12, 2021 - 2:44pm

Sounds like a sweet gig - if you don't mind sharing, how many years of experience do you have and what type/size of firm?

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Oct 14, 2021 - 9:31am

This is a good description, and I'd say it's pretty close to what I do as well (though I'm 1st year associate with 2 YOE, so I have less expectations to do this all solo). Leading underwriting, lead all the DD, tour asset. I'd say the only the only difference between what you do and myself is we are very cooperative with our asset managers/in-house counsel for capex schedules, legal documents and such, so they aren't leaning solely on acquisitions for transitioning the asset. 

  • Analyst 3+ in RE - Comm
Oct 12, 2021 - 3:11pm

Yeah, I'm getting the impression that the grass is not greener. Majority of the duties are the same but I'm more siloed in terms of product type and I've had a significant drop in seniority. Not sure if it was worth the slight bump in pay.

Oct 12, 2021 - 3:29pm

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