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PIMCO currently invests in real estate debt opportunities through various funds including the flagship PIMCO Commercial Real Estate Debt Fund (“PCRED III”), a closed-end fund focused on traditional bridge lending throughout the U.S. In addition to PCRED III, the CRE debt team also invests in real estate debt opportunities through several other existing credit strategies with capital flexibility up and down the CRE debt risk spectrum.
The firm’s U.S. real estate debt team sources, underwrites, and invests along the entire debt capital stack including senior mortgages, mezzanine financing, CMBS, and preferred equity. The team benefits from a flexible pool of capital with the ability to invest across asset types, geographies, and the capital structure. CRE Debt Associates work closely with senior members of the team to assist in originating, underwriting, and executing CRE debt transactions.
Responsibilities
- Develop excel models projecting project level cash flows, borrower returns, lender returns, and fund level returns.
- Draft and negotiate term sheets and loan documentation.
- Prepare detailed Investment Committee memos and presentations.
- Lead and/or manage due diligence of new investments, including but not limited to market research, broker calls, third party reports, financial statement audits, lease reviews.
- Lead and/or manage closing execution of new investments, including but not limited to coordinating with internal and external stakeholders, consultants, and investors.
- Capital Markets execution and coordination.
- Develop and work with financing sources to procure leverage for fund investments (e.g. loan-on-loan, senior/mezz, A/B).
- Support asset management of fund investments, including developing and executing business plans, and managing relationships with sponsors, financing sources, and third party service providers.
Requirements
- 2-4 years of relevant real estate investment banking or private equity experience. Asset-level underwriting experience highly preferred
- Exceptional financial modeling skills and proficiency in Argus
- Outstanding academic credentials and demonstrated leadership capabilities
- Strong work ethic and integrity, candidate should be a team player that is proactive and self-motivated
- Strong analytical, interpersonal communication, and writing skills
- Ability to work effectively on multiple projects simultaneously
- Desire to join an entrepreneurial team and grow along with the platform
- Positive attitude and eagerness to learn
- Frequent travel as needed
Source: Pimco’s Career Page
