PGIM Real Estate Investment Associate Originations (New York City, NY)
About The Position
As the Global Asset Management business of Prudential, PGIM Real Estate is looking for a highly motivated, intellectually curious, and impactful Investment Associate to support its Debt originations business. This role focuses on higher yielding bridge, construction, mezzanine, and preferred equity transactions. The position is based in New York City and follows a hybrid schedule, requiring 3-4 days in the office per week and 1-2 days remote. PGIM Real Estate is a business of PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU), with $207.9 billion in gross assets under management and administration. They have a 50-year legacy of investing in commercial real estate and a 140-year history of real estate financing.
Requirements
- Bachelor’s degree required in Finance, Real Estate, or related discipline.
- 3 or more years commercial real estate work experience.
- Understanding of basic real estate terms and concepts such as net leases, gross leases, contracts, rents, percentage rents, operating expenses, capital expenditures, expense recoveries, property types.
- Understanding of basic finance concepts such as amortization, interest rates, net operating income, cash flow returns, cap rates, internal rate of return, present value/discounted cash flow, and property valuations.
- Advanced knowledge of Microsoft Excel.
- Strong quantitative skills and demonstrated analytical ability.
- Ability to operate independently and in a team environment, with good judgement and attention to detail while managing multiple projects simultaneously.
- Interact professionally with internal and external parties, including originations, transactions, risk, legal, developers, investment firms, borrowers, and third‐party service providers.
- Self‐motivated with perseverance, and a hands‐on, proactive style.
Nice To Haves
- Proficiency in Argus Enterprise.
- Experience with construction financing, mezzanine, and preferred equity.
Responsibilities
- Analyze and underwrite commercial real estate debt investment opportunities across all property types with a focus on structured Debt originations including construction, mezzanine, and preferred equity structures.
- Create cash flow models, Argus models, sensitivity tables, rent roll analyses, waterfall models, and other financial analyses required to evaluate, pursue, and close debt investment opportunities.
- Prepare Investment Committee memoranda and related materials through market research, risk analysis, and in‐depth understanding of investment factors and credit risks.
- Analyze economic, market, legal, and political conditions within an investment's geography.
- Assist senior professionals in leading the due diligence and closing processes for originations in conjunction with portfolio management team.
- Assist in loan level financings, appraisal review, and other activities that may require feedback from the debt originations or real estate transactions group, portfolio management team, or loan servicing group.
Benefits
- Market competitive base salaries, with a yearly bonus potential at every level.
- Medical, dental, vision, life insurance, disability insurance, Paid Time Off (PTO), and leave of absences, such as parental and military leave.
- 401(k) plan with company match (up to 4%).
- Company-funded pension plan.
- Wellness Programs including up to $1,600 a year for reimbursement of items purchased to support personal wellbeing needs.
- Work/Life Resources to help support topics such as parenting, housing, senior care, finances, pets, legal matters, education, emotional and mental health, and career development.
- Education Benefit to help finance traditional college enrollment toward obtaining an approved degree and many accredited certificate programs.
- Employee Stock Purchase Plan: Shares can be purchased at 85% of the lower of two prices (Beginning or End of the purchase period).
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
