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PGIM Real Estate Loan Services is seeking a High Yield Senior Asset Manager. You will be part of a team responsible for supporting portfolio and asset managers across the US Core+ Debt Fund, various single client institutional accounts, as well as a high yield general account platform. You will manage a short-term, leveraged portfolio of bridge, pre-stabilized, transitional mortgage loans, mezzanine loans, ground-up construction, and preferred equity transactions.
This team aims to be highly collaborative, innovative, highly organized, and committed to providing exceptional service to our customers. They are based in Dallas, Texas and are currently following a hybrid work model (on-site 2-3 times a week).
What you can expect
- Monitoring business plans across multiple property types to ensure timely execution of the defined exit strategy.
- Compile and review monthly performance figures for each property in the portfolio in the team’s monthly/quarterly reporting workbook.
- Collecting, analyzing, documenting, and submitting borrower request packages (credit actions) to Team Manager/Portfolio Management for approval. Credit actions to include (but not limited to): advance (future funding) or reserve disbursements related to construction, capex, TI/LC, debt shortfalls, etc.; lease approvals; budget reviews; modifications; extensions; partial releases; ownership transfers; SNDA’s; easement requests; property management changes; assumptions; etc.
- Reviewing loan performance and work with Team Manager regarding loans that should be placed on watchlist. Update watchlist information, proactively monitor property operating performance and trends and report findings based on PGIM RE guidelines.
- Maintaining and fostering relationships with borrowers, intermediaries, investors, and the originations teams.
- Collaborate with internal and external stakeholders to appropriately manage the portfolio’s leverage.
- Adhere to loan documents, servicing agreements and any other governing documents when performing all responsibilities.
What you will bring
As a Sr. Asset Manager, you must have:
- Bachelor’s degree preferably in Real Estate, Finance, Accounting, Economics or related discipline, and minimum of 7+ years related commercial real estate asset management experience or equivalent combination of education and experience.
- Strong customer service skills with the ability to communicate clearly with all clients and stakeholders in a hybrid and virtual team environment.
- 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.
- Proficiency in analyzing property business plans, generating, and calibrating financial models, and applying critical thinking skills across all property types, structures, risk profiles, and geographies.
- Eagerness to collaborate with team members to achieve common teamwide goals
What will set you apart
- Strong interpersonal/customer service skills essential with the ability to create/build and maintain relations with internal and external parties.
- Knowledge of structured commercial real estate lending products and applicable servicing requirements.
- Experience managing ground up construction and value add business plans.
- Ability to make recommendations to multiple portfolio managers with different return strategies.
- Proficiency in Excel, including pivot tables and advanced modeling capabilities, and Power BI.
- Prior experience with review of legal & loan documentation.
- Self-starter/motivated and detail oriented.
Source: Prudential’s Career Page
