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 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 portfolio management, while supporting loan level financings, appraisal reviews, and activities requiring feedback from debt originations or real estate transactions groups. This role requires a hybrid schedule of 3-4 days in the New York office and 1-2 days remote work.
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
- 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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