Hello all,
Have upcoming interview with a firm called StreetLights Residential that is based out of Dallas and was wondering if anyone had any thoughts on their reputation in the industry since they’re relatively new (founded in 2011).
My main question is should I be going for a firm that has been around longer.
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I’ve looked at deals with these guys a few years back. Good reputation and have some interesting projects. Founded by a few ex-Gables guys. Don’t know what the culture and comp is like though. Would recommend seriously considering them if you get an offer. Maybe someone else can provide more depth, but my main point is that they have a solid reputation.
Appreciate the insight. How would you say they compare to a lot of the major mf developers reputation wise? Interested to hear what others have to say.
I’m not really sure how to answer this or what you’re asking exactly. Is this a prestige question? Product quality? Ability to raise capital?
They are doing big deals in major cities. A more regional developer like StreetLights is going to give you more breadth of exposure to the entire development process than Related or Hines. Do they have a similar reputation? Of course not, but that’s not necessarily a bad thing. You can still learn a ton and have a great career at a small/medium size shop. Prestige and pedigree aren’t as important as they are in banking.
They are on the NMHC 25 largest apartment developers list for what that’s worth.
Read through all of the big development threads on here, there’s a ton of valuable information about the industry.
They have a good work culture and have developed some of the sexiest multifamily in Dallas.
They have some really nice developments in Dallas. Wouldn't be concerned that they are a newer firm.
They've done a bunch of deals, and the product quality has been off the charts. They were running around with Goldman's money and also did a few deals with Stonelake. They made a bunch of money earlier in the cycle, but some of their DFW and Austin deals haven't been as successful and have necessitated some recaps or other shenanigans to mask the lack of performance. So they've gotten bailed out thus far, but TBD on how they'll do if the tide goes out... after NMHC this week no one is slowing down and there is more capital than ever so who knows if/when that will be.
None of that is really your problem if you don't have skin in the game so it'd likely be a great place to work in the early part of your career and maybe later on.
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