I graduate next spring and want to pursue either acquisitions or a REPE firm.
I have looked through this sub and found that there are a lot of people with knowledge on these two paths. 
- Is there specific things I need to be doing in my last year of undergrad to put myself in the best position to find a job in one of these paths? 
- Could anyone lay out how these two jobs differ in terms of normal career path progression, compensation and the types of personalities that excel in the two careers
- Also, what are the best companies to start looking for jobs in acquisitions?

I realize that is a lot of questions, I just have had a hard time getting those questions answered from anyone I know or the internet.
[{"id": "ijrs5w8", "text": "First of all these can be the same job because one is a job function and the other is a type of company structure.", "replies": [{"id": "ijrvnol", "text": "Well that\u2019s a good start to know thank you. I apologize if my question was dumb, I am just trying to find some guidance. Thank you for the reply!", "replies": [], "depth": 2}, {"id": "ijt9fwm", "text": "Disagree. The investment mandate of private equity firms is completely different. They look at assets across the risk spectrum and lever up significantly, which largely doesn\u2019t happen at REITs. At a fund, you\u2019re often underwriting on a speculative basis, and need to understand the entire cap structure. At a REIT, you\u2019re underwriting stabilized property with 30-40% leverage (save and except for shops like STWD, WELL, etc).", "replies": [{"id": "iju8t40", "text": "I agree that there are differences between REPEs and REITS in structure but that was not the question OP asked. They asked what the difference was between acquisitions and REPEs and I answered what I did accordingly so your comment leaves me confused.", "replies": [{"id": "ijweuaz", "text": "yup you're 100% right, got a little off-track lol", "replies": [{"id": "ijwfbro", "text": "No worries", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ijs0mfb", "text": "If you're targeting firms that invest in commercial assets ( Office, Industrial and Retail) I would suggest getting the ARGUS Certification. You can typically get a good deal if you're a student or a NAIOP member. You should really focus on real estate financial modelling in Excel and taking the exams or certifications (REFAI) through REFM.\n\nThey are relatively similar. REPE are closed-ended funds so they raise capital to invest in multiple properties and typically have shorter hold periods (less than 10 years) they really look to add value for higher returns. For example, if you're working in acquisitions at a REIT, because they distribute 90% of everything they get, they tend to have really long hold periods. REPE is definitely more exciting and more lucrative but the traits you need are very similar to that of a broker.\n\nIn terms of companies, it would really depend on your geographic location. Blackstone and Brookfield Asset Management are typically the top two in capital raised yearly.", "replies": [{"id": "ijscymh", "text": "How is REPE anything like brokerage? It\u2019s way more analytical and data driven, you\u2019re constantly buried in minutia. Every single brokered deal that hits my desk needs to be re-underwritten, often at substantial discounts to guidance.", "replies": [{"id": "ijsew51", "text": "Who said REPE is like brokerage? I said the traits you need are very similar as in you have multiple hats. You need to be able to sell (raise capital), and strong analytically (valuating properties). You do have a point, brokers tend to be quite optimistic but the brokers working on institutional capital are just as strong analytically and are data-driven.", "replies": [{"id": "ijsi95b", "text": "That\u2019s my whole point - 90% of brokers aren\u2019t strong analytically. Telling you this as someone who used to work on an institutional debt/equity placement team in a major metro. At the fund I work for now (similar AUM to those you mentioned), you\u2019re an excel monkey for the first 4-5 years. Since OP is just starting his career, it\u2019s fair to say that soft skills are going to matter less in REPE than brokerage.", "replies": [{"id": "ijsjrfa", "text": "That's completely fair. You're right, the selling skills won't matter if they can't work in Excel at a high level.", "replies": [{"id": "ijt6ng3", "text": "Correct. FWIW, REPE isn\u2019t all it\u2019s cracked up to be. The level of detail kills me - often slamming my head against a wall trying to pick up .25% on an IRR calc to make the deal pencil. Actually debating going back to brokerage to sling buildings around.", "replies": [{"id": "ijt8mjl", "text": "Yeah, I am graduating soon as well and I am starting with brokerage. More transaction volume, particularly when you're young it's a great way to learn the business IMO. Most people who I have talked to who have switched to the principal side usually wish they had done it sooner, so it's interesting that you're debating going back. You must be a deal junkie.", "replies": [], "depth": 7}, {"id": "ijta8cv", "text": "Go to a place like Eastdil, Newmark\u2019s NYC D/E team, or HFF legacy teams at JLL. You\u2019ll thank me in 2 years when you have a full Rolodex of institutions/developers/funds to call for a job.", "replies": [], "depth": 7}], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}, {"id": "ijsj42v", "text": "Thank you for taking the time to write all of that, it helps a lot.", "replies": [], "depth": 2}], "depth": 1}, {"id": "ijs1wqw", "text": "Join the real estate club at your college if you aren't a member. \n\nFrom my experience starting at a boutique shop is best because you learn stuff a lot faster and then will have the option to go to a huge firm with a few years experience. That's what I did but preferred the boutique life but get hit up by huge firms monthly.", "replies": [], "depth": 1}, {"id": "ijsdmh4", "text": "INTERNSHIPS. Must have solid internships to get an entry level role anywhere half decent", "replies": [], "depth": 1}, {"id": "ijte3s4", "text": "Google costar brokers in your market and email each of them!  Start reading bisnow, the local business journal\u2019s real estate section, and take the adventuresincre.com certificate!  Good luck!!", "replies": [], "depth": 1}]