MemosFromHowardMarks:
Anyone know if they use anything aside from Dell computers?

Hah, is this a major factor in deciding whether or not to work there?

Are people ThinkPad or die?

Commercial Real Estate Developer
 

Hey, I have a friend there and it is my understanding that they are strongly looking to expand their hospitality portfolio. They were supposed to buy the 1 Hotel South Beach from Starwood (Host ended up buying it) but the deal fell through. Righ after they announced the purchase of the Waldorf Boca for $850 million. All of their hospitality portfolio is prime trophy assets and they are looking to purchase a couple more trophy hotels.

Array
 
Most Helpful

I had the interview but based on the convo not super interested. It sounds like a lot of construction loans and short term bridge loans for value add deals. Standard debt fund stuff. I thought it would be more of a special situations fund given the broad mandate and their bid for the recap of TRTX.

There’s three people working on the fund, 2 MDs and a principal. It sounds like it would be very high volume (good) but there would be a decent amount of admin work given the lean team and fact that a new fund doesn’t have a pipeline tracking system in place.

It would be a very good opportunity if interested in RE debt. I like your odds of moving up to a position where you can receive carry since it’s a brand new fund. But I’m just not interested enough in the space to be bottom of the food chain again. Lateraling to a bigger platform like ACORE, you’d probably have an analyst beneath you who would handle some of the admin BS but maybe not as great of an upside potential at a bigger platform so who knows.

 

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