Moving Around in Real Estate Private Equity?

Interviewing at a REPE firm specializing in industrial assets. Wondering how easy it would be to transition to a REPE firm that focuses on office/retail/multifamily?

 

I'm currently on the debt side and this seems like a good opportunity to get into private equity. Would I be pigeonholing myself at the industrial firm? I'm primarily interested in an Acquisition role but curious about Asset Management also. 

Comments (3)

 
  • Associate 2 in RE - Comm
Aug 26, 2020 - 12:53pm

I'd bet the switch to Office/Retail/Multi would be easier to make from Industrial REPE than from the debt side

Industrial is a great place to be right now. It's also a tough job market out there at the moment (and likely to be for at least the next 6-12 months), so if you decide to hold off, it may be a while before things turn out and you find a better opportunity than the Industrial REPE gig

If you're able to get slotted in at Acq or AM and thats the type of work you want long term, I say go for it

 

 
Aug 26, 2020 - 1:03pm

Honestly, switching property types is not impossible, but once you gain experience/knowledge with one it becomes potentially disadvantageous to do so. Additionally, you gain a network of the owners, brokers, and even tenants in each space. 

Most people in RE that become specialized in a property type (not all roles do or require this..), it is really sub-optimal from a career move to switch in many cases. The exception is "adding on"... like many retail developers who added mixed-use, multifamily to their business out of necessity. Still, if you gain experience in an asset class, after a while, it will not make sense to attempt a switch.

Now, while you are just "spreadsheet modeling" for the most part, you are NOT really a specialist just yet. But still, you are gaining knowledge in rents, expenses, and operational details for that asset class (if you are specialized by the job). So, that is building your skills/abilities to become an actual deal maker or asset manager of those properties, if you switch, that promotion may then be further away. 

Start Discussion

Popular Content See all

This Fucking Sucks
+50OFFby Prospective Monkey in Investment Banking - Mergers and Acquisitions">Prospect in IB-M&A
Why would any associate+ banker choose a BB over EB?
+39IBby Intern in Investment Banking - Mergers and Acquisitions">Intern in IB-M&A
You Did it Citi
+37OFFby 2nd Year Analyst in Investment Banking - Industry/Coverage">Analyst 2 in IB - Ind
Share a day that looked like a Suits/Billions episode
+31IBby Intern in Investment Banking - Generalist">Intern in IB - Gen
PE isn’t the best way to get into b-school
+28BSCHby 2nd Year Associate in Private Equity - LBOs">Associate 2 in PE - LBOs
Evercore Target Schools?
+22BSCHby Prospective Monkey in Investment Banking - Mergers and Acquisitions">Prospect in IB-M&A
What's Wrong with Warburg Industrial & Business Services?
+17PEby 1st Year Analyst in Investment Banking - Mergers and Acquisitions">Analyst 1 in IB-M&A

Total Avg Compensation

February 2021 Investment Banking

  • Director/MD (9) $911
  • Vice President (31) $349
  • Associates (160) $231
  • 2nd Year Analyst (97) $151
  • Intern/Summer Associate (92) $144
  • 3rd+ Year Analyst (23) $145
  • 1st Year Analyst (369) $131
  • Intern/Summer Analyst (304) $82

Leaderboard See all

1
LonLonMilk's picture
LonLonMilk
98.5
2
Jamoldo's picture
Jamoldo
98.4
3
Secyh62's picture
Secyh62
98.3
4
CompBanker's picture
CompBanker
97.9
5
redever's picture
redever
97.8
6
frgna's picture
frgna
97.6
7
Addinator's picture
Addinator
97.6
8
NuckFuts's picture
NuckFuts
97.5
9
bolo up's picture
bolo up
97.5
10
Edifice's picture
Edifice
97.5