PGIM: 2027 Real Estate, Sophomore Externship Program

Prudential Financial•Newark, NJ

3d•Onsite

About The Position

PGIM will host a 3-day sophomore externship in January 2027 to educate students on its asset management business and opportunities for internships and careers with the firm. This program is intended for students graduating between December 2028-May 2029. Transportation and lodging will be provided to those selected to participate in our program. Externs will engage in training, case studies, job shadowing, and networking during our program. For those selected to participate in the externship, there will also be opportunities to interview for a summer 2028 10-week paid summer internship upon conclusion of the program! During the sophomore externship we’ll be showcasing 3 different areas across our real estate platform. These businesses use their internship program as the main feeder into their full-time Analyst programs: Equity: Asset Management & Transactions Our Equity business invests in and manages commercial real estate across a range of property types and risk profiles. Participants will learn how our teams evaluate new opportunities and manage assets throughout the investment lifecycle. Acquisitions (Transactions): Support the sourcing, underwriting, financial modeling, and due diligence of new acquisitions and developments. Work may include cash flow and waterfall models, sensitivity analyses, rent roll reviews, comparable property analysis, and materials used to evaluate investment opportunities. Asset Management: Collaborate with partners, consultants, property managers, and leasing brokers to oversee operating assets, development projects, and repositioning strategies. Teams monitor property performance and help execute leasing, operational, financing, and disposition strategies. Debt – Originations Our Originations business evaluates and secures commercial real estate loans across property types, structures, and geographies. Participants will learn how teams assess new debt investment opportunities and move transactions through due diligence and closing. Support market research, credit analysis, property valuation, cash flow modeling, Argus modeling, and sensitivity analysis. Assist with due diligence and closing materials while coordinating with internal teams and external partners. Debt – Agency Our Agency Lending business supports multifamily real estate financing through capital sources including Fannie Mae, Freddie Mac, and FHA. Participants will learn about opportunities within Underwriting and Portfolio or Deal Management. Support market research, credit analysis, property valuation, cash flow modeling, Argus modeling, and sensitivity analysis. Underwriting: Analyze potential loans, coordinate due diligence, assess cash flow assumptions and market data, and help prepare investment packages for credit approval. Portfolio or Deal Management: Support credit officers and origination teams throughout the life cycle of a deal, including policies, procedures, production goals, and loan submission materials. Analytical work may include market research, due diligence tracking, financial modeling, property valuation, and borrower credit assessment.

Requirements

Candidates must be enrolled in an accredited bachelor’s degree program graduating between December 2028 and May 2029
All majors welcome!
Candidates should have an interest in exploring careers across commercial real estate
Minimum GPA of 3.0 required
Successful candidates must possess the requisite US employment authorization to be eligible for consideration

Responsibilities

Support the sourcing, underwriting, financial modeling, and due diligence of new acquisitions and developments.
Evaluate new opportunities and manage assets throughout the investment lifecycle.
Collaborate with partners, consultants, property managers, and leasing brokers to oversee operating assets, development projects, and repositioning strategies.
Monitor property performance and help execute leasing, operational, financing, and disposition strategies.
Evaluate and secure commercial real estate loans across property types, structures, and geographies.
Assess new debt investment opportunities and move transactions through due diligence and closing.
Support market research, credit analysis, property valuation, cash flow modeling, Argus modeling, and sensitivity analysis.
Assist with due diligence and closing materials while coordinating with internal teams and external partners.
Support multifamily real estate financing through capital sources including Fannie Mae, Freddie Mac, and FHA.
Learn about opportunities within Underwriting and Portfolio or Deal Management.
Analyze potential loans, coordinate due diligence, assess cash flow assumptions and market data, and help prepare investment packages for credit approval.
Support credit officers and origination teams throughout the life cycle of a deal, including policies, procedures, production goals, and loan submission materials.
Conduct analytical work including market research, due diligence tracking, financial modeling, property valuation, and borrower credit assessment.