PGIM Real Estate Investment Associate Originations (New York City, NY)
$135,000–$145,000 year
HybridNew York City, New York, United States
Job Summary
Analyze and underwrite commercial real estate debt investment opportunities, focusing on structured debt originations including construction, mezzanine, and preferred equity structures. Create cash flow models, Argus models, sensitivity tables, rent roll analyses, and waterfall models to evaluate, pursue, and close debt investment opportunities. Prepare Investment Committee memoranda through market research, risk analysis, and in-depth understanding of investment factors and credit risks. Assist senior professionals in leading due diligence and closing processes in conjunction with the portfolio management team, including loan level financings and appraisal reviews. Work in a hybrid schedule of 3-4 days in the New York office and 1-2 days remote.
Required Qualifications
- 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
- Proficiency in Argus Enterprise
- Experience with construction financing, mezzanine, and preferred equity
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