The Portfolio and Asset Management Associate will assist the portfolio management function for PREDS by supporting the team in fulfilling the Fund’s operational requirements and assist with investment-level monitoring and reporting. Additionally, the role will assist the Head of Investment Diligence and Sr. Asset Manager with asset management related activities required to onboard and monitor a growing portfolio of core plus debt investments. This individual will work collaborate with team members, including loan servicing to provide investment level underwriting, risk analysis, decision support, portfolio leverage/financing status and assisting with capital markets activities. They will have regular contact with portfolio management as well as the Fund’s manager of data analytics relating to the status of underlying investments of the Fund. This role will have frequent interaction with multiple internal stakeholder groups including but not limited to Asset Management, Transactions, Due Diligence, Legal, and Valuations as well as external parties including the Fund’s loan servicer, leverage providers and third-party counsel.
Duties & Responsibilities:
- Assists the Director of Investment Diligence and transaction team with onboarding of new investments as they move through the closing process to ensure a smooth transition from originations to asset management.
- Works closely with the Assistant Portfolio Manager and Fund legal, as necessary, to fulfill fund compliance reporting.
- Assists in implementing the operational strategy of the Fund and related process improvements.
- In conjunction with Asset Management, responsible for preparing fund-level projections regarding investment performance, risk level, maturity/pre-payment forecasts as well as monitoring the performance of levered asset pool.
- Participate in credit process and assist in underwriting, review of borrower business plans and transition activities as required by Sr. Asset Manager.
- Reviews and monitors Loan Servicer reporting for investment level changes and facilitate the reporting of information to key stakeholders
- Assist in portfolio analytic activities and stress testing
- Assist in financial and tax reporting in conjunction with our outside tax and accounting service providers, portfolio management and fund accounting.
- Bachelor’s degree in Real Estate, Finance, Accounting, or Economics required, MBA is a plus
- Minimum 3 years experience in finance or accounting.
- 2-3 years experience in the real estate investment industry strongly preferred
- Familiarity with real estate debt investments including performing and non-performing whole loans, mezzanine loans, B-Notes.
- General knowledge of loan documents and debt investment closings.
- Understanding of basic real estate terms and concepts such as net leases, gross leases, contract rents, percentage rents, operating expenses, capital expenditures, recovery of expenses, property types.
- Ability to work on a team and work independently.
- Strong quantitative skills and demonstrated analytical ability.
- Strong organizational skills and attention to detail with ability to manage multiple projects simultaneously.
- Self-starter and intellectually curious.
- Computer proficiency with a strong working knowledge of the suite of Microsoft Office applications, most particularly Excel.
- REIT/Tax knowledge is a plus.
- Strong interpersonal/communication skills.
About PGIM Real Estate
PGIM Real Estate is the real estate investment business of PGIM, Inc., the global investment management businesses of Prudential Financial, Inc. (NYSE: PRU). Redefining the real estate investing landscape since 1970, PGIM Real Estate has professionals in 18 cities in the Americas, Europe and Asia Pacific with deep local knowledge and expertise, and gross assets under management of $66 billion ($47.6 billion net) as of December 31, 2016. PGIM Real Estate’s tenured team offers to its global client base a broad range of real estate investment vehicles that span the risk-return spectrum across core, core plus, value-add, debt, securities, and specialized investment strategies.