Bridge Investment Group Layoffs
This one seemed to have sneaked under the radar.
Who did Bridge layoff?
Why are they making cuts?
Was it just Utah people or was it in their other offices too?
Trending Content
| +67 | Hiring Analyst/Associate - Advice | 31 | 5h | |
| +40 | Current CRE Phase | 19 | 2d | |
| +36 | Laid Off - Multifamily Acquisitions Help | 8 | 22h | |
| +26 | Best Brokerages in South Florida | 18 | 18h | |
| +26 | Capital Formation | 9 | 3d | |
| +25 | PART 2: Increasing RE Industry's Cash Compensation, Collectively | 1 | 4d | |
| +24 | URGENT - a list of Halal/Islamic real estate funds and investment companies for potential applications | 9 | 4h | |
| How many days a week are you expected to be in the office? | 23 | 3s | ||
| +23 | NYU MSRE Program | 7 | 2d | |
| +22 | UK Development | 4 | 10h |
Career Resources
Bump, curious if anyone has intel. Working on a deal with the and communication has been rather sporadic.
Just an update - I heard it was nearly 4 dozen employees that got laid off.
Pretty brutal
Bump, interested to follow this one. Wasn't aware they had many offices outside of Utah.
They’re SoCal teams or Utah? Or both? They were just hiring too lol. What is with these companies hiring just to fire…? So wild
I think 2024 becomes a year of layoffs. Seems like 2023 was all about trying to hold on to the talent and hope for a rebound. It was more of a hiring freeze type of year. Hope I am wrong though.
Layoffs seem to be picking up. It is a good time for acquisitions people to get experience in Asset Management and stay employed.
There will be a lot of loan servicing jobs picking up.
Tough to have to go through the changes and the downturn but picking up experience where you can is important. "
Sucks to lose a job or be forced to switch though.
Sort of agree with you here. The pace reality sets in for each and every group is incredibly different. Most groups I know were deploying a strategy heading into 23 since 21 and 22 were so hectic, that now reality has settled and decisions are projected around that and over head and costs are the primary thing companies look at - it’s the lowest hanging fruit. And the people not being laid off are the cheap gen z analysts without an opinion on which way is north yet… very challenging times in real estate right now, not entirely looking much rosier moving forward. What tech or asset class carries the industry moving forward and where would those jobs even open up because of that? Can’t necessarily go off on your own and raise a huge pref equity fund today without the golden handcuffs or umbilical cord…
100%... and not just in RE.
Utah for sure. I don't know about their other offices but my guess is yes.
Not surprising. They were some of the dumbest office and MF buyers on the market last 5 years.
How so?
They bought a 2 cap
I’ve worked with them a little and they have some sharp guys - MF team not office.
That’s been my experience as well. I think their office team is dead, like everyone’s office team
Really? They are underwriting a deal I am trying to sell them so sounds like they are still selectively active
I underwrite lots of deals that I have no plan of buying so I can understand the market
People track the market and will UW even if they have no intention of buying the deal. Our firm has UW every single deal in our target markets the last 24 months even though we didn't have equity willing to live to with the low returns groups were stretching for (using realistic assumptions).
Also, been interesting seeing how cap rates evolve in real time based on how we actually UW, not what a broker tells you. You'd be amazed at how much variability there is in broker-reported cap rates for the same deals, and having your own numbers gives you a lot more comfort when you actually come across something that UW's well with your own methodology.
As an example, in the same market (DFW), I've seen brokers quote on T1 income/T3 expense with tax reset, T3 income/T12 expense with tax reset, proforma with in-place rents & tax reset, proforma with whatever the fuck rents they deem appropriate & tax reset, proforma with current taxes, and straight in-place T12 or T3 cap rate (no tax reset). For the younger guys out there, if you're ever on the phone with brokers and they are quoting cap rates, make sure you know exactly how they are calculating those.
Quisquam eos tenetur est voluptatem quis. Voluptatem nostrum iste nihil ad est consequuntur quia. Dolores molestiae nulla officia vel non quod voluptatem. Velit rerum iusto nisi voluptatem ipsam in. A enim vel fuga.
Fugiat eveniet ea veniam eos. Saepe qui omnis corrupti illum dolor cum pariatur. Est praesentium ad libero est. Saepe voluptas modi facilis ut.
Eveniet maxime sapiente recusandae quibusdam quia. Harum saepe dolor sed delectus inventore. Omnis voluptatem temporibus quasi sed distinctio enim dolorum tempore. Sequi natus molestiae autem.
Non commodi necessitatibus dolorem sapiente consequatur libero. Eum molestias cupiditate enim quis sit ducimus inventore. Saepe iste aliquam aliquid commodi officiis tenetur facilis.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...