Associate, Private Strategies (CRE Debt)

PIMCO•New York, NY

8h•$135,000 - $180,000

About The Position

PIMCO is a global leader in active fixed income with deep expertise across public and private markets. We invest our clients’ capital across a range of fixed income and credit opportunities, leveraging our decades of experience navigating complex debt markets. Our flexible capital base and deep relationships with issuers have helped us become one of the world’s largest providers of traditional and nontraditional solutions for companies that need financing and investors who seek strong risk-adjusted returns. Since 1971, our people have shaped our organization through a high-performance inclusive culture, in which we celebrate diverse thinking. We invest in our people and strive to imprint our CORE values of Collaboration, Openness, Responsibility and Excellence. We believe each of us is here to help others succeed and this has led to PIMCO being recognized as an innovator, industry thought leader and trusted advisor to our clients. Job Description PIMCO currently invests in real estate debt opportunities through various funds including the flagship PIMCO Commercial Real Estate Debt Fund ("PCRED III"), a closed-end fund focused on traditional bridge lending throughout the U.S. In addition to PCRED III, the CRE debt team also invests in real estate debt opportunities through several other existing credit strategies with capital flexibility up and down the CRE debt risk spectrum. The firm's U.S. real estate debt team sources, underwrites, and invests along the entire debt capital stack including senior mortgages, mezzanine financing, CMBS, and preferred equity. The team benefits from a flexible pool of capital with the ability to invest across asset types, geographies, and the capital structure. CRE Debt Associates work closely with senior members of the team to assist in originating, underwriting, and executing CRE debt transactions.

Requirements

2-4 years of relevant real estate investment banking or private equity experience. Asset-level underwriting experience highly preferred
Exceptional financial modeling skills and proficiency in Argus
Outstanding academic credentials and demonstrated leadership capabilities
Strong work ethic and integrity, candidate should be a team player that is proactive and self-motivated
Strong analytical, interpersonal communication, and writing skills
Ability to work effectively on multiple projects simultaneously
Desire to join an entrepreneurial team and grow along with the platform
Positive attitude and eagerness to learn
Frequent travel as needed

Nice To Haves

Asset-level underwriting experience highly preferred

Responsibilities

Develop excel models projecting project level cash flows, borrower returns, lender returns, and fund level returns.
Draft and negotiate term sheets and loan documentation.
Prepare detailed Investment Committee memos and presentations.
Lead and/or manage due diligence of new investments, including but not limited to market research, broker calls, third party reports, financial statement audits, lease reviews.
Lead and/or manage closing execution of new investments, including but not limited to coordinating with internal and external stakeholders, consultants, and investors.
Capital Markets execution and coordination.
Develop and work with financing sources to procure leverage for fund investments (e.g. loan-on-loan, senior/mezz, A/B).
Support asset management of fund investments, including developing and executing business plans, and managing relationships with sponsors, financing sources, and third party service providers.