UBS Real Estate Acquisitions

Looked for info on this site but it seems pretty dated, at best. Anybody have anecdotes about working with, or for, the UBS Acquisitions group? Saw a role advertised for them but curious what kind of space they play in and pretty sure this is not a REIB role. Seems more their Real Estate Private Markets group. Any info would be great.

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Comments (21)

  • Investment Analyst in PE - Other
Jul 14, 2020 - 5:26pm

It's one of the largest RE Investment managers. Play in the same space as LaSalle Inv Mgmt, CBRE GI, Morgan Stanley REI, etc. (Google real estate Odyssey funds, these are their competitors)

They, like the rest of the Odyssey funds, are almost entirely Core and Core+ focused. So you will be doing large deals, but usually not super interesting ones.

UBS specifically recently got shafted. Have seen around $10 billion in redemption requests when they wrote down their retail holdings.

The head of acquisitions and CEO of this specific group were ousted and internally saw reorganization. They restructured they're flagship fund to accommodate the redemption requests.

Despite all this, they still have a shit ton of money and it is a good place to be. They do all asset types and all over the country.

Only downside is their office is in Hartford CT, not NYC.

Jul 14, 2020 - 5:59pm

All true above, I've also been told they pay like crap and are going to be sellers big time coming out of this. A lot of other funds are just waiting for them to start selling stuff.

Array

Jul 14, 2020 - 7:19pm

Great post. Would echo everything you're saying. They will be looking to offload their most liquid assets in the next 6-9 months.

As mentioned, a pretty heavy reorganization recently took place which saw at least one seasoned acquisitions guy booted. The plus is there were younger guys that were elevated as a response.

I have a buddy that works in their NYC office. Not doubting they have an office in Hartford, but they most definitely have an NYC office as well.

Jul 14, 2020 - 7:25pm

Can confirm. Had a phone interview for this role. From my understanding the "acquisitions" role is mostly going to be doing dispositions because of this. The role is based out of NY, but they literally only have like 1 other junior level guy there lol. The rest of the team is in Hatrford/SF

Edit. I think the number they gave me was about 3.5 bill of assets they are trying to get rid of within the next year and a half. Mostly in retail/industrial in secondary and tertiary markets. Going forward they seem to be focusing solely on MF/office/industrial on primary markets.

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Funniest
Jul 14, 2020 - 6:56pm

That app on LinkedIn is just a resume-grabber, FYI

How do I know? Because I applied, got rejected a day later, and then saw them repost the same position the next day, then a few days after, and now this week.

Or I have a terrible profile, lol

  • Investment Analyst in PE - Other
Jul 14, 2020 - 7:53pm

On that NYC/Hartford office situation, they have 1 acquisitions guy in NYC due to special request by the guy there. Everyone else is over in Hartford.

May say they are offering NYC but be wary on that it may be disingenuous

  • Investment Analyst in PE - Other
Jul 14, 2020 - 9:06pm

Incorrect, they also have a debt fund that does high leverage participating mortgages. Their acquisitions team covers their debt fund, core fund, and "opportunistic" fund (this is really just core+). They don't separate by funds, they separate by geography and funds pick and choose which deals they want.

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