Acquisitions to Development

I am currently an associate with a small REPE ($1B AUM) and was contacted by the big developers for an associate role. How feasible is going from acquisitions to a dev role at an associate level? This is a cradle to the grave role so I'd still do acquisitions.

另外,大型开发公司(Hines,相关等)的生活方式是什么样的?招聘人员说,预算为30万美元以上,似乎也很高,但在T1城市。有洞察力或建议吗?

Comments (15

  • Analyst 1inRE - Comm
Jan 27, 2022 - 10:25am

海恩斯和相关没有摇篮到坟墓,他们磨破k on mostly larger scale assets taking many years. Greystar and Trammell Crowe are more cradle to grave. $300k all in seems a little much for these developers for associate since it's usually $110-$150k base with 15%-40% bonus so the recruiter might be blowing some smoke

最有帮助
2022年1月27日 - 上午10:33

我会注意到,对于合伙人(甚至是高级助理)来说,$ 30万美元听起来很高(如果可以得到的话,对您有好处,除非有一些奇怪的收获)。他们是否闯入了薪水/奖金/长期奖金?就像是1/3、1/3、1/3rd吗?这通常是在以后的(更高的标题),但也许这家公司很早就开始了。我知道,即使在T1城市办公室,您也不会成为我公司的合伙人!

As to lifestyle... I'd be hesitant to generalize. I'll say those based inNYCcan be very "finance-like" with very long hours, heavy "silo-ing", and just overall not the greatest work environment for early stage employees, like how allNYCbased finance/real estate firms treat "juniors" lol (this may or may not be based in part from a friend of mine who worked at Related and their general "rep", but I've heard similar stories about RXR/Silverstein and even much smallerNYCbased developers). Even more interesting is how these firms can be regionally set-up and thus have very different cultures and even structures by regional office (okay.. yes I'm talking about Hines!).

In general, development firms (and even regional offices and individual developer teams) are far more unique and hard to pin down in terms of culture, work style, or even duties assigned at each title (and of course for pay and progression), when say compared to major I-Banks and Private Equity firms. Each development firm sets in own tone, at least is how it feels to me.

  • Associate 1inRE - Comm
Jan 27, 2022 - 10:41am

I appreciate the insight, this is very helpful. I thought $300k was high too. This is in SF, which I know can be similar toNYCculture for RE. I work in SF now as an associate and I'm pretty far below what they are offering, so I'm trying to get more details. My biggest fear is the learning curve. I came into RE after myMBA, and did banking in a different industry prior, so I only have about 3 true years of RE and it's all been acquisitions based. I don't want to leave my position and them become a non-contributor, but I do like the aspects of development the more I dig in.

It is one of the major developers (Related, Hines, Brookfield), do these firms typically have a tougher culture? I know you had mentioned that dev firms are not consistent by office since they have regional offices, but just out of curiosity. Also, do you know how comp progresses at these bigger firms?

2022年1月27日 - 10:56 AM

Well... maybe there is SF premium right now? I mean, I sure as hell wouldn't want to move there (no offense, I'm inNYC区域,如果更好的话,可以辩论)。至于学习曲线...我认为您会没事的!发展并不是那么复杂,这些公司都有深厚的支持和大量资源,您甚至可能会发现它在某些方面“更容易”。bob电子竞技大赛如果您想进行开发,那就去做吧!如果您宁愿留在股票基金世界中,我相信如果需要可能后悔...)

是的,我认为您引用的所有三个名字都是辛苦的,高性能的商店。他们雇用“精英”类型,我怀疑想要这样的表现(我认识的每个人都在这三家公司工作,我将归类为“ Hardos”)。他们还搅动了吨!(尤其是布鲁克菲尔德及其相关的人,或者至少是我网络中为这两个工作工作的人。Hines似乎具有更好的寿命,这只是我认识的人从那里工作或曾经在那里工作或习惯的人的观察!)。那么,这是“更艰难的”吗?完全主观,但这不是休闲,休闲的星期五类型业务。请注意,对此的SF办公室几乎没有深入了解,我的公司没有SF办公室,这离我的个人领域还很远。

Comp progressions.... eh, don't know anything about that for those firms (or really anything except at places I've worked tbh). My general belief is that you need to get promoted to get legit step-ups in development. Like get to development manager to get big bump and higher up to get carry/promote/long-term. Development shops are less likely than say banks orPEfirms to just give big 10/20% raises just because you are awesome. Development tends to bump with added duties/responsibilities (or upgrades in project size/complexity). This can vary a lot by firm, so take it as my personal belief!

2022年1月27日 - 上午10:45

有可能——是的,我想让这个move as well. Can anyone here comment on the level of knowledge expected for a development associate, as someone coming from the acquisitions side? IE if you were interviewing a candidate with REPE experience looking to move to development at the associate level, what questions are you asking them and what knowledge is important?redeverCRE

人事处- PM me if you want to connect further on this could be helpful to pick each other's brains. FWIW I know the culture at Related is pretty tough (sounds like this is maybe Related SF?).

Jan 28, 2022 - 9:31am

在盖特威(Gateway)城市的一家大公司,您作为开发助理的工作可能与您作为收购合伙人的工作没有太大不同。大型公司倾向于散发更多的开发团队,因此您将要承销交易,获得市政批准等。很难说您的工作将在哪里结束,其他人的工作将会接收,但是Redever可能会说更多。这些类型的细节。

Commercial Real Estate Developer

  • 1
Jan 28, 2022 - 9:52am

So, if you are interviewing for dev associate at a larger firm, they likely have some "specialty" they want need for that person, like finance/modeling, or const/design, entitlements/city, land acq., asset mgnt/leasing, etc.... these will of course rotate based on needs. Some firms like to find "well rounded" people or allow them to develop as such, but at the associate level, I think expecting someone to be good at just one is reasonable...

因此,您得到的问题是基于当前的“需求”是什么,但是(至少在我们的公司中),很多工作风格,文化,健康,甚至我所说的话都等于“发展哲学”类型的问题。当然,由于您的简历表明,发展经验/技能问题是自然的。每个进行合作面试的团队都会以不同的方式执行此操作,因为他们直接雇用了他们的团队。

发展并不是一家企业的所有困难,并且不会期望员工知道或能够做所有事情。因此,我认为在那个级别上,他们真的想评估....潜力!

  • Analyst 1inRE - Comm
Jan 27, 2022 - 11:18am

Yup this seems like related sf maybe, Hines sf is low like 120k with 30% but they do a lot of cradle to grave stuff throughout the Bay Area

Jan 28, 2022 - 3:55pm

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