Is my current job good enough to exit to REIB, REPE, or RE hf
So I just got a job with a major lifeco (fidelity, allianz, Prudential) for their commercial real estate portfolio. My official title is "Asset Management analyst" but I really do portfolio surveillance on the debt side where I essentially analyze existing properties on our balance sheet. So no equity acquisitions but I will get enough experience in originations to put it on a resume. After a year of working, could I use this experience to lateral over to a REIB, REIT, REPE, HF, or investment analyst for my firm? Does my current job sound like asset management to you? Thanks
REPE: probably not. REIB: yes. REIT: probably not. HF: huh? you'd need IB experience to do this.
Do you want to do acquisitions or Asset Management? My personal opinion is that you're probably going to have to do another 1-2 years at either of the below before you'd be in good shape to break into REPE. The below is advice if your end goal is acquisitions (I don't have experience in asset management).
If you're working a lot with debt and you don't want to be at your current job more than a year (your words not mine), perhaps your best bet would be to target debt placement at a major brokerage house like Eastdil, CBRE, or HFF. This would give you a solid background in understanding how acquisitions are getting done because you would be looking at models of live deals and trying to figure out how best to structure their debt.
Your other best bet is to jump into investment sales for a good brokerage house: Eastdil, CBRE, HFF, Newmark, JLL. This would give you a great overview of how properties are actually bought and sold. The work you'd be doing is different than what you'd be doing as an acquisitions analyst but overlaps in very important ways, meaning you could make the transition into REPE fairly easily after a couple of years.
Mostly agree. I'm at a REIT and I don't see why we wouldn't also hire someone with your background. Maybe 2 years of experience rather than 1 though. It would just all depend on who else we turned up in the search.
quick question when you say debt placement at one of the major brokerages, are you referring to their underwriting groups?
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Why would it be yes to Prudential only? Also, I'll be securitizing CMBS if that makes a difference or would help me get into DCM as an option. I'm just curious what options I'll have.
And thanks for your insight @bd.charlus.
Would like to know this as well why only Pru. Is it because they have an equity arm and might be easier to move internally?
Are you going to be doing in underwriting or financial modeling in this role?
I think some when I get cross trained in debt originations
To be honest, I don’t think you would get directly into any of those with coming from debt AM even at a major firm. You’re best bet would be to what above said and get into a debt brokerage shop or better yet, make a move internally and try and get into originations.
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