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. 

Real Estate Modeling Course

  • Real-life RE Modeling Tests from actual Interviews
  • Various asset classes including multi-family, commercial and more
  • Huge discount - until more tests and cases added

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

Total Avg Compensation

June 2021 Investment Banking

  • Director/MD (9) $911
  • Vice President (35) $364
  • Associates (203) $232
  • 2nd Year Analyst (115) $151
  • Intern/Summer Associate (97) $145
  • 3rd+ Year Analyst (27) $145
  • 1st Year Analyst (420) $131
  • Intern/Summer Analyst (338) $82