PGIM Real Estate | Investment Associate, Asset Management (Chicago)

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, team-oriented professional like you to fulfill an Associate level position within our Asset Management function, covering Central Industrial Assets. You will showcase your success through collaboration, ownership and innovation. Your expertise in emerging trends and practices will evoke stimulating discussions around optimization and change to help keep our competitive edge. This rewarding opportunity will enable you to make a big impact in our organization, so if this sounds exciting, then PGIM might be the place.

Your Impact:
  • Provide general management and direction for a portfolio of properties. This includes frequent contact and direction with property managers, operating partners, leasing brokers and consultants
  • Prepare and review periodic internal reports and respond to information requests from the portfolio management team
  • Oversee the budget process and preparation of the annual strategic plan for each property
  • Review monthly property reports and track operating performance. Prepare regular updates summarizing results
  • Provide assistance to the transactions team for both the acquisition and disposition of properties
  • Work with Senior Asset Manager to negotiate contracts with property management and leasing firms
  • Analyze lease terms and economics, prepare lease proposals, and negotiate leases as appropriate
  • Understand general real estate trends and individual property markets / submarkets
  • Supervise and train analysts
  • Prepare analyses of various investment decisions - leasing; financing; acquisition; hold/sell
  • Review quarterly appraisals for factual accuracy and consistency with other similar properties


Your Required Skills:
  • Bachelor’s degree required; emphasis in real estate, finance, accounting or economics preferred
  • Candidates must have at least 3-6 years of related real estate experience; experience working with joint venture partners a plus
  • Understanding of basic real estate terms and concepts such as net leases, gross leases, contracts, rents, percentage rents, operating expenses, capital expenditures, recovery of expenses, and property types
  • Understanding of basic valuation concepts, including income, comparable sales and cost approaches. Ability to prepare discounted cash flow and direct cap rate analyses
  • Understanding of key real estate agreements including leases, purchase and sale agreements, management and leasing agreements, partnership agreements and loan agreements
  • Awareness of portfolio goals and ability to develop and monitor specific plans for individual investments that contribute to these goals
  • Ability to use financial and valuation software including Word, Excel and Argus


Your Desired Skills:
  • Ability to collaborate with, mentor and train junior team members while maintaining leadership role
  • Ability to travel, including the ability to rent a car
  • Strong communication skills, including the ability to provide both written and verbal direction
  • Ability to simultaneously work on and prioritize multiple tasks with a diverse group of individuals while meeting realistic deadlines
  • Experience managing investments, including preparing budgets, managing operating expenses and lease abstracts


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 continued opportunities 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.

Chicago, Illinois, United States of America

R-103843