PGIM Real Estate | Senior Investment Associate, Alternative Assets

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Job Classification:
Investment Management - Investments

PGIM is the diversified asset management business of Prudential Financial, Inc. (NYSE: PRU). With $1.4 trillion in assets under management, and 38 offices spanning 16 countries, PGIM is among the world’s top-10 largest asset managers. Comprised of seven self-governing asset management divisions, each PGIM business offers a distinct workplace culture that aligns with the firm’s ultimate objective: to provide premier service to our clients while fostering an inclusive workplace culture that is rooted in trust, respect and equality.

Our Business:

As one of the largest real estate managers in the world with more than $180 billion in gross assets under management and administration, PGIM Real Estate strives to deliver exceptional outcomes for investors and borrowers through a range of real estate equity and debt solutions across the risk-return spectrum. Our scope of insights, rigorous risk management and seamless execution are backed by a 50-year legacy of investing in commercial real estate, a 140-year history of real estate financing and the deep local expertise of professionals in 32 cities globally.

Through our investment, financing, asset management and talent management approach, we engage in practices that ignite positive environmental and social impact, while pursuing activities that strengthen communities around the world. When you join our team, you’ll find yourself inspired by an inclusive company culture that believes that diversity of all kinds allows us to develop better and more innovative solutions for our clients.

Our Role:

We are looking for an astute, determined professional to fulfill a Senior Investment Associate level position on our Asset Management Team, covering Alternative Assets. The role entails collaborating with operating partners, property managers and portfolio managers to oversee PGIM’s Manufactured Housing, Student Housing, and Single Family Residential assets. These institutional-quality investments will be located in various markets throughout the US with varying risk profiles that range from core to value-add. This is a transaction heavy role that will require the ideal candidate to interface directly with the both the Acquisitions and Dispositions Teams. The position is based in PGIM Real Estate’s Madison, NJ office.

Your Impact:
  • Work with senior asset managers and portfolio managers to establish strategic plans for each investment in the context of the larger portfolio goals with the objective of maximizing property income, cash flow and long term value. Monitor and analyze asset performance to ensure strategic plans are met.
  • Develop and maintain relationships with the fund’s joint venture and operating partners on assigned assets as well as property managers, brokers, lenders and consultants.
  • Serve as the sector expert and represent PGIM Real Estate in the marketplace. Understand current and future trends in demographics, job growth, economic drivers, product supply as well as any other market forces and incorporate this knowledge into recommendations and decisions. Understand the fund’s assets positioning within the market.
  • Advise on investment decisions to support the growth of the Alternatives Team. Assist Transactions in identifying and underwriting investment opportunities. Review proformas, coordinate due diligence and assist in executing successful closings of asset acquisitions.
  • Monitor the construction process on development investments and renovation projects to ensure product relevance, quality of construction and adherence to budget.
  • Review and approve annual budgets, review property reports and participate in pricing, operations, leasing and capital discussions with property management and leasing teams. Review and approve construction draw packages. Recommend renovation programs and financing needs to maximize asset value. Visit properties and tour competing projects and document changes as appropriate.
  • Review and approve third party quarterly appraisals for each property.
  • Work with third party consultants as necessary including: evaluating real estate tax assessments, insurance coverage and incidents, deferred maintenance, and other capital needs.
  • Prepare hold/sell recommendations and support the sales process by assisting the Transaction team with engaging brokers, evaluating bids, and managing due diligence and closing.
  • Negotiate common real estate contracts, including loan documents, property management/leasing agreements, and purchase and sale agreements.


Your Required Skills:
  • Bachelor’s degree required in finance, accounting, economics; emphasis in real estate preferred
  • Candidates must have at least 5-7 years of related real estate experience; experience working with joint venture partners a plus
  • Experience managing a sizable portfolio of assets within institutional caliber organizations.
  • Experience with development and/or substantial repositioning of assets and property dispositions
  • Experience in multiple markets including a strong understanding of assigned markets.
  • Experience managing joint venture relationships strongly preferred.


Your Desired Skills:
  • Can bring best practices in terms of reporting and procedures and can help develop efficiencies in operations and oversight.
  • Understands how to manage by using data and other performance and market information.
  • Understanding of portfolio goals and how individual assets within the portfolio contribute to performance.
  • Understanding the dynamics and risks of each asset.
  • Can prioritize work and drives for measurable results.
  • Experience in proactively looking at broader trends and research to identify opportunities and support recommendations.
  • Must have strong analytic and quantitative skills.
  • Outstanding leadership and interpersonal skills with the ability to motivate the team and third parties.
  • Strong interpersonal/communication skills; ability to develop and ask questions. Ability to make presentations to senior management, investment committee or clients, when necessary.


Our Culture:

Prudential Financial, Inc. is focused on creating a fully inclusive culture, where all employees feel comfortable bringing their authentic selves to work. We don’t just accept difference·we celebrate it, support it, and thrive on it. At Prudential, employees have a unique opportunity to build their career path by owning their development, their career and their future. We encourage employees to hone their skills and explore continuedopportunities within Prudential.
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Prudential Financial, Inc. of the United States is not affiliated with Prudential plc. which is headquartered in the United Kingdom.

Prudential is a multinational financial services leader with operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. The company's well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, asset management, and real estate services.

We recognize that our strength and success are directly linked to the quality and skills of our diverse associates. We are proud to be a place where talented people who want to make a difference can grow as professionals, leaders, and as individuals. Visit www.prudential.com to learn more about our values, our history and our brand.

Prudential is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, national origin, ancestry, sex, sexual orientation, gender identity, national origin, genetics, disability, marital status, age, veteran status, domestic partner status , medical condition or any other characteristic protected by law.

The Prudential Insurance Company of America, Newark, NJ and its affiliates.

Note that this posting is intended for individual applicants. Search firms or agencies should email Staffing at staffingagencies@prudential.com for more information about doing business with Prudential.

PEOPLE WITH DISABILITIES:
If you need an accommodation to complete the application process, which may include an assessment, please call (800) 433-8960, prompt 4 or email accommodation.h&w@prudential.com.

Please note that the above number and email are solely for individuals with disabilities requesting an accommodation. If you are experiencing a technical issue with your application or an assessment, please email careers@prudential.com to request assistance.

Madison, New Jersey, United States of America

R-104353