Mezz/Pref Equity CRE Lender VS Boutique M&A shop

Hello friends!

I recently graduated college without a CRE background, and strangely found myself with offers with groups ($3-5B AUM) focused on preferred equity, bridge, and mezz CRE. They also have arms that deal with acquisitions and AM, although I would be on the lending / equity side.

I was wondering if anyone could help me to better understand the career trajectory of lending / equity RE.

I have experience in traditional IB, where I have offers from boutiques for M&A, although REPE is really capturing my interest.... not sure which will provide me with better opportunity and would really appreciate your input.

I don’t know anything about real estate although I do know a lot about structured finance which is what they liked, as embarrassed I am to say this.

Thank you!

 

Hi fromthebottomofthebottom, yes, I'm a bot, but I'm also good looking. Hopefully, these threads help you:

  • M&A question- merger VS acquisition Does anyone know if there is a difference between an acquisition funded with 100%equity and ... a merger (where Target's shareholders tender their shares of Target and receive shares of Bidder in ...
  • M&A Comparables for Precedent Transactions Valuation multiples: Mergers and Acquisitions Data The precedent transaction analysis looks at premiums paid ... used to determine a market value post-acquisition for the target company. Additionally, the analysis is ... past acquisitions is a key piece of data. Searching for Multiples Casting a broad net and sifting ...
  • My journey from no-name boutique to PE MF IBD; investment banking; analyst; mergers and acquisitions; M&A Private Equity to Saturday, ... country and thanks to some luck I got an analyst job at a small unknown boutique. The pay was rather low, ... working for the boutique in my country I was feeling it was just a matter of time until I got what ...
  • Preferred M&A Database? commentary. Their quarterly reports are great. Merger and Acquisitions Database of Company M&A Bloomberg ...
  • Odd Question- Transitioning from CRE Private Equity to M&A Investment Banking? to share. Real Estate private equity Real Estate Private Equity Investment Banking mergers and ... position earlier this year (left a tiny boutique RE Investment Bank to go work for a small-/mid-sized REPE ... I'm very unsure of whether CRE finance is the kind of work I want to be doing for the rest of my ...
  • Should I spell out Mergers & Acquisitions on my resume? "Mergers & Acquisitions (M&A)" vs. "M&A". M&A resume <p ... Questions</a></li><li><a href="https://www.wallstreetoasis.com/forums/private-equity ... -interview-questions-a-complete-guide">Private Equity Interview Questions</a></li><li><a ...
  • Investment Banking Analyst: A True Day in the Life boutiques, there are certain firms who place slightly better into top private equity firms. The difference, ... analysts from a specific elite boutique might fare better for specific private equity firms. But, in the ... thinking ECM groups are superior, however. Elite Boutique vs Bulge Bracket vs Boutique In terms of ...
  • Houlihan Lokey M&A vs JP Morgan Global Corporate Bank Houlihan Lokey has extensive expertise in mergers, acquisitions and divestitures for a broad range of ...
  • More suggestions...

If we're lucky, maybe these professional users will respond: roxyco ThetaMan Andrew-Warren

I hope those threads give you a bit more insight.

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

Personally, I think the specialty/non-bank lender space is quite interesting. After the regulations that came about post-financial crisis, banks have been unable to fully finance real estate projects with senior mortgage debt. Non-bank lenders, like a Square Mile Capital or Madison Realty Capital, were born to fill the gap. These shops fill the financing gap anywhere between 65%-90% LTV/LTC through mezz and preferred equity positions. They also thrive on originating short-term, higher yielding bridge loans and acquisitions of previously originated (often times distressed) loans. Most of the PE mega funds (Carlyle, Apollo, Blackstone, Ares, etc.) have groups dedicated to this sector.

 

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