PGIM Real Estate Investment Associate (Los Angeles, CA)

Investment Associate

As the Global Asset Management business of Prudential, we're always looking for ways to improve financial services. We're passionate about making a meaningful impact - touching the lives of millions and solving financial challenges in an ever-changing world.

We also believe talent is key to achieving our vision and are intentional about building a culture on respect and collaboration. When you join PGIM, you'll unlock a motivating and impactful career all while growing your skills and advancing your profession at one of the world's leading global asset managers! If you're not afraid to think differently and challenge the status quo, come and be a part of a dedicated team that's investing in your future by shaping tomorrow today. At PGIM, You Can!

What You Will Do

Are you highly motivated, intellectually curious, and willing to jump in to make impactful contributions? Are you ready to be a key contributor to a team and help get the job done? If so, then becoming an Investment Associate within a culture that treats our talent like an investment might be the right job for you!

We are looking for an astute, determined professional like you to fulfill a critical Associate position supporting our Debt originations business with a focus on higher yielding bridge, construction, mezzanine, and preferred equity transactions.

This role is based in our office in Los Angeles and will follow a hybrid schedule which requires 3-4 days working from the office each week and 1-2 days of remote work.

What You Can Expect

• 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.

What You Will Bring

• 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.
• Some travel is required.

What Will Set You Apart

• Proficiency in Argus Enterprise.
• Experience with construction financing, mezzanine, and preferred equity.

*PGIM welcomes all applicants, even if you don't meet every requirement. If your skills align with the role, we encourage you to apply.

Note: Prudential is required by state specific laws to include the salary range for this role when hiring a resident in applicable locations. The salary range for this role is from $135,000 to $145,000. Specific pricing for the role may vary within the above range based on many factors including geographic location, candidate experience, and skills. Roles may also be eligible for additional compensation and/or benefits.

About PGIM Real Estate

With $207.9 billion in gross assets under management and administration and $133.8 billion net, PGIM Real Estate provides investors and borrowers access to a range of real estate equity, real estate debt, agriculture, and impact solutions across the risk-return spectrum.

PGIM Real Estate is a business of PGIM, the global asset management business of Prudential Financial, Inc. PGIM Real Estate's risk management approach, execution capabilities and industry insights are backed by a 50-year legacy of investing in commercial real estate, a 140-year history of real estate financing, and the local experience of professionals in 32 cities globally. Through its investment, financing, asset management, and talent management approach, PGIM Real Estate engages in practices that strive to ignite positive environmental and social impact, while pursuing activities that seek to strengthen communities around the world. For more information visit pgimrealestate.com.