Moving from Property Management to REPE/Asset Management
Hi All,
I'm still relatively new to the site though I have been lurking for a bit. Through searching on the site I was unable to find some insights or if it is possible to move from commercial property management (office/industrial) to the Asset Management/REPE/acquisition side of the industry.
Basically I went right into a non-target, private MBA program immediately after undergrad and now have a few years experience as a commercial property manager. As I have been looking to move to the AM/acquisition side of CRE I have found that my work experience hasn't really gotten me anywhere in qualifications even though I do some aspects of budgeting, forecasting, financial analysis. Couple that with the financial learning from my MBA I feel like I have a strong foundation for any analysis needed.
Has anyone here made a similar jump in the industry? Does anyone have any recommendations about how to approach target companies to show that my experience does have some transferable/relevant skills?
I've reached out to some current clients previously (wealth/capital management firms/institutional type firms) without luck or suggestions.
Thanks in advance for any advice.
I am working on a deal with a development analyst who came from years of property mgmt experience. Granted, they are not a super-well-known developer like Related, but still. A headhunter found him for the job.
Also, a developer my colleagues are working with is the former "Executive Vice President-Property Management" from a local brokerage firm. And his partner came from an extremely similar background. They make millions now. Granted, they have gray hair, but the point is not to give up hope.
Prospie,
Thanks for the reply. It is nice to read that it is possible and that they continued to succeed in the new roles. I guess just cut my teeth a bit more in PM until an opportunity arises!
Thanks.
I know several asset managers with property management backgrounds. Most of them worked for one of the big full service firms (CBRE/Cushman), made a lateral move internal at the company and then exited to the AM/developer/fund of their choice.
thanks for the reply, I am in Socal so the big guys mostly all have offices nearby, good to hear those moves are possible within the company.
It's definitely possible. I went to a non-target grad school and managed to slip into AM straight out, but I know at least one property manager who transitioned into an associate AM role. Granted, she was a 9, but nonetheless.
Bump out of general interest
Started in multifamily property management outta ugrad for a tiny 100 unit shop and now am in acquisitions.
It is possible. Just requires the ultimate hustle. Trust me (as a random dude on the internet).
Interested in hearing from asset managers and Property managers on PM to learn operations with an eye toward Asset Management. Seems like a natural trajectory assuming I learn the financial modeling etc required. Thoughts?
Wanted to bump this and see if others had any insight.
I'm looking for a similar path. Currently a regional manager for a multifamily company. MBA from a non-target school. I'm trying to figure out how to make the jump to the Asset Management side. Debating whether I take a hit in pay and find an analyst position and work up, or try to make a move directly to an asset manager role.
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