In this ‘Day in the Life of a Commercial Real Estate Professional’ post, we hear from an Acquisitions Manager working in Boston. This professional has been kind enough to share what he does on a daily basis as well as discuss what it takes to land a successful career in CRE.

Note: This Day in the Life profile was made possible thanks to the help of Emily White, a Class of 2022 MBA Candidate at the UNC Kenan-Flagler Business School. Prior to pursuing her MBA, Emily was a Development Manager for the Alpha Gamma Delta Fraternity Housing Corporation. Emily holds a BA in History from the University of South Carolina. A huge thank you to Emily for her contribution!


Day in the Life of an Acquisitions Manager

Current Firm

This firm is a vertically integrated real estate private equity firm that develops, owns, and operates multi-family, industrial, office, and mixed-use spaces. With multiple offices across the country, this firm owns and manages 140+ properties and employs over 900 real estate professionals.

Early Career Path

Immediately after completing his Bachelors, this professional worked on structured products in commercial mortgage-backed securities. In 2008 he shifted to the advisory side and worked as a mortgage broker. After a couple of years, he decided he wanted to get closer to the asset side and returned to school to get his MBA with a concentration in Real Estate. After graduating he was a portfolio manager for 16 months before transitioning to acquisitions.

Typical Week

This professional’s team juggles several acquisitions at a time, on any given week he is sourcing transactions, talking to brokers, beginning the underwriting process, and analyzing metrics he and his company value. His team pitches their acquisition deals internally to their insurance, accounting, and debt teams, etc to get everyone on board with the project before they pitch the deal to the Investment Committee. If the deal is approved, his team works on due diligence and closing before the property is transitioned to their property management team.

Potential Career Paths

Someone just starting in acquisitions can expect an analyst role where they run numbers and talk through inputs. Depending on the firm, they may get to visit the property and attend some deal dinners.

Those with experience or a graduate degree can expect to start at a level sourcing deals. As they gain experience, they start to cover a region, say an entire state, before being promoted to a larger region, like the mid-Atlantic. The highest step an acquisitions professional can reach is to be a member of the firm’s executive committee or Chief Investment Officer.


About the Professional

Name: Prefer Not to Say
Location: Boston, MA
Years in Real Estate: 15
Years in Current Position: 5
Undergraduate Education: B.S. in Finance
Graduate Education: MBA
Approx. Annual Income: Prefer not to say

About the Position

Job Title: Acquisitions Manager
Job Type: Acquisitions, Firm Strategy, Project Underwriting, Deal Execution
Company Name: Prefer Not to Say
Company Type: Real Estate Private Equity
Property Type: Multifamily, Industrial, Office, Mixed-Use
Min. Education Recommended: Bachelors Degree
Min. Education Required: Bachelors Degree
Min. Experience Recommended: 3-5
Min. Experience Required: 1-3
Advanced Technical Skills Required: MS Excel,  PowerPoint, Argus


Advice for those interested in this position

Advice

If you’re interested in real estate, talk to everyone, not just people at the shops you know. Urban planners, lawyers, architects, construction managers, investors can all provide great insights into the industry and are great relationships to develop.

This is one in a growing series of ‘Day in the Life of a Commercial Real Estate Professional’ entries. Read this post, then check out other experiences shared by A.CRE readers.