Transitioning from residential to CRE?
A year ago, out of UG, I was lucky to land a position as an analyst at a large developer doing inner-city residential developments (>200 apartments). I’m really interested in transitioning into CRE due to the nature of asset class (complexity, scale, etc.).
Just had a couple of questions if anyone could help:
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Would this type of developer be residential or commercial? I’m outside of the US but my understanding is that strata titles would class this as residential condos?
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The company also transacts office buildings in another city. Would it be risky for me to reach out to an analyst in this team and express my interest in being involved? I am primarily worried of word getting back to my team that I am looking for an exit opportunity.
Appreciate any help!
I’m not sure how it works in your country or if the following advice applies, but in America, apartments and condos are not commonly referred to as “residential real estate” - single family homes are. The apartment and condo world, especially at the 200+ unit count, is most definitely “commercial real estate.”
Transitioning from one asset class to another is usually just a matter of networking, having a good reason why you want to make that transition, and then getting a job. You will have to learn the nuances of that new asset class, but the broad strokes of the development process are the same.
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