I have been recruiting for months and am finally deciding between three opportunities. My goal is to be in REPE in the next 2-3 years doing acquisitions with a massive firm (, Lonestar, etc) and to create a REPE firm long-term. I aim to become great at underwriting a range of different property types, a modeling whiz and to network a ton. Here are the options:
- AM role with a large REPE firm (~$15B in AUM) that owns mostly core/core+ assets throughout the US and employs a really interesting value-add strategy. Seems like this position would be hard work but includes great training, exposure to senior management and other perks. The company has a really pristine reputation, but are sometimes considered more developers than traditional REPE.
- Role with another REPE firm (~$10B AUM) that is focused more on CMBS and distressed debt. This role seems less clear, but could really provide an immense learning opportunity. Senior management is clearly bright, but I am not sure if there are willing to mentor analysts. On top of this, reviews from prior analysts that have worked there are quite negative. This firm is well-known within REPE, but exits are unclear from LinkedIn and conversations I have had with peers in the industry.
- Smaller REPE firm (~$3B AUM) focused on retail (obviously a dying area). Firm seems like it is really up and coming and I would be doing acquisitions - looking at thousands of properties and selecting the best few. They have recently raised a new fund and are looking to spend it - meaning that I will quickly gain a ton of experience. Also, since the fund is small there is potential for me to gain a senior role in not so much time.
**Also something noteworthy is I may be able to work where I interned - a CBRE, JLL, Cushman type in a major metropolitan market (NYC, CHI, LA, SF).
I am currently leaning towards the AM position but would appreciate any other thoughts.