PGIM Real Estate - Asset Manager
Job Classification:Investment Management - Investment Operations
PGIM is the diversified asset management business of Prudential Financial, Inc. (NYSE: PRU). With $1.5 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.
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.
PGIM Real Estate Loan Services, Inc. (Loan Services) is a subsidiary of PGIM Real Estate, one of the largest commercial and multifamily mortgage servicing firms in the nation. Loan Services has 145 dedicated professionals across the globe who service commercial, multifamily, and agriculture loans for multiple clients including a large life insurance company, global institutional investors, and agencies. Current Assets Under Management / Administration is $109 Billion for over 4,700 core and higher yielding loans in twelve countries located on three continents.
THIS IS A HYBIRD ROLE, working out of our Dallas office 2-3 days a week is required!
PGIM Real Estate is seeking an Asset Manager to join the FHA / Construction Asset Management Team. The candidate will be responsible for managing a portfolio of FHA commercial real estate including pre-stabilized assets coming out of construction, transitional assets under renovation, stabilized assets including multifamily, healthcare and hospital properties.
The candidate must possess strong writing, analytical and credit skills to assess and manage risk and produce decisive credit action recommendations. The candidate must also analyze and articulate watchlist comments and ensure loan covenant compliance. The candidate must provide superior customer service, create efficiencies, and promote trust. The candidate shall possess good common sense, sound business judgment and will be dependable demonstrating a high level of integrity.
- Credit Actions: Perform cash flow analysis, market surveys, document review and other due diligence necessary to produce prompt, well written and supported case recommendations for complex borrower requests. Transactions involve collateral properties located throughout the US. Borrower requests may include assumptions, modifications, partial releases, property substitutions, partial ownership transfers, lease approvals, easements, reserve disbursements, insurance losses, and property management & operator changes.
- Triggers: Ensure loan covenant compliance requirements are managed timely and effectively including initial input, post-closing monitoring, maintenance of collateral, and debt service thresholds.
- Watch List: Provide written analysis identifying key trends and issues noting any corresponding mitigants. Recognize broad implications of process and take initiative to improve quality of reporting and early detection of issues. Possess the ability to discuss relevant issues and provide remedies.
- Pre-stabilization/Renovation: Monitoring and managing a portfolio of pre-stabilized and renovation projects through stabilization including monitoring business plans/lease-up, review of construction draws, processing change orders, budget maintenance, escrow disbursements and monitoring monthly progress reports. Performing or coordinating inspections as needed. Completing inspection reports and documentation with critical findings and incorporating issues in action plans. Inspections to include adherence to construction budget with variance reporting.
- Bachelor’s degree required, preferably in Finance, Economics, Mathematics, Real Estate, or related discipline
- Real Estate, Lending/Banking, Investment, Financial or Accounting experience (3-5 years preferred)
- Understanding of commercial loan documents with varying degree of complexity
- Understanding of the life of a commercial loan (loan closing to disposition of asset)
- Excellent written and verbal communication skills
- Strong interpersonal and customer service skills are essential including the ability to create, build and maintain relationships with internal and external parties
- Strong quantitative skills and demonstrated analytical ability
- Computer proficiency with a strong working knowledge of Microsoft Excel
- Strong organizational skills required with the ability to multi-task, work independently and as part of a team in a time sensitive environment where meeting established deadlines are critical
- Candidate should have an open, creative, and innovative mindset
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 [Register to View] 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.
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