I joined a small family office 5 months ago to source acquisitions. This firm has acquired 4 institutional-sized deals in 2020, which is one of the things that attracted me to join: they are very active for their size. They are syndicators, so there is no pressure to put out money out, but we have not closed anything nor do we have anything under contract so far for 2021. We’ve made it to best and final and got a “last look” on a few, and even looked at a handful of off market opportunities, but the principal has not been willing to pursue further on anything. I don’t blame him, the market feels crazy.
Since I’m still new, I’m very nervous that – from their perspective – things aren’t “working out”, especially when you compare last year’s volume/pace to 2021 YTD. I have not received any negative feedback so far, but it’s still in the back of my mind and makes me anxious. Has anyone had a similar experience, is 5 months too soon to really vet if things are working out?