PGIM Real Estate Investment Associate (Los Angeles, CA)

PGIM; Los Angeles (CA); Hybrid; USD 135,000 - 145,000; Full time

Benefits offered by this job

Medical insurance

Dental insurance

Vision insurance

Life insurance

401(k) plan

Pension plan

Wellness programs

Education Benefit

Employee Stock Purchase Plan

Job summary

PGIM Real Estate in Los Angeles seeks an Investment Associate to support our Debt originations team. You will analyze and underwrite commercial real estate debt opportunities, build cash flow and Argus models, and prepare Investment Committee materials to inform investment decisions.

The role requires 3+ years of CRE experience, strong Excel and financial acumen, and the ability to work collaboratively with a cross‑functional team in a hybrid environment; some travel is expected.

Qualifications

• Bachelor’s degree required in Finance, Real Estate, or related discipline.
• 3 or more years commercial real estate work experience.
• Understanding of basic real estate terms and concepts such as net leases, gross leases, contracts, rents, operating expenses, cap rates, and valuations.
• Understanding of basic finance concepts such as amortization, IRR, NPV, cash flow returns, and valuations.
• Advanced knowledge of Microsoft Excel.
• Strong quantitative skills and analytical ability.
• Ability to operate independently and in a team environment with good judgement.
• Some travel is required.

Responsibilities

• Analyze and underwrite commercial real estate debt investment opportunities across all property types with a focus on structured Debt originations including construction, mezzanine, and preferred equity structures.
• Create cash flow models, Argus models, sensitivity tables, rent roll analyses, waterfall models, and other financial analyses to evaluate, pursue, and close debt investment opportunities.
• Prepare Investment Committee memoranda and related materials through market research, risk analysis, and in‑depth understanding of investment factors and credit risks.
• Analyze economic, market, legal, and political conditions within an investment's geography.
• Assist senior professionals in leading the due diligence and closing processes for originations in conjunction with portfolio management team.
• Assist in loan level financings, appraisal review, and other activities that may require feedback from the debt originations or real estate transactions group, portfolio management team, or loan servicing group.

Skills

Analytical ability

Team collaboration

Excel

Education

Bachelor’s degree in Finance/Real Estate

Tools

Argus Enterprise

Excel

Job description

Job Classification

Investment Management - Investments

As the Global Asset Management business of Prudential, we’re always looking for ways to improve financial services. We’re passionate about making a meaningful impact - touching the lives of millions and solving financial challenges in an ever-changing world.

We also believe talent is key to achieving our vision and are intentional about building a culture on respect and collaboration. When you join PGIM, you’ll unlock a motivating and impactful career – all while growing your skills and advancing your profession at one of the world’s leading global asset managers! If you’re not afraid to think differently and challenge the status quo, come and be a part of a dedicated team that’s investing in your future by shaping tomorrow today. At PGIM, You Can!

What You Will Do

Are you highly motivated, intellectually curious, and willing to jump in to make impactful contributions? Are you ready to be a key contributor to a team and help get the job done? If so, then becoming an Investment Associate within a culture that treats our talent like an investment might be the right job for you!

We are looking for an astute, determined professional like you to fulfill a critical Associate position supporting our Debt originations business with a focus on higher yielding bridge, construction, mezzanine, and preferred equity transactions.

This role is based in our office in Los Angeles and will follow a hybrid schedule which requires 3-4 days working from the office each week and 1-2 days of remote work.

What You Can Expect

• Analyze and underwrite commercial real estate debt investment opportunities across all property types with a focus on structured Debt originations including construction, mezzanine, and preferred equity structures.
• Create cash flow models, Argus models, sensitivity tables, rent roll analyses, waterfall models, and other financial analyses required to evaluate, pursue, and close debt investment opportunities.
• Prepare Investment Committee memoranda and related materials through market research, risk analysis, and in‑depth understanding of investment factors and credit risks.
• Analyze economic, market, legal, and political conditions within an investment's geography.
• Assist senior professionals in leading the due diligence and closing processes for originations in conjunction with portfolio management team.
• Assist in loan level financings, appraisal review, and other activities that may require feedback from the debt originations or real estate transactions group, portfolio management team, or loan servicing group.

What You Will Bring

• Bachelor’s degree required in Finance, Real Estate, or related discipline.
• 3 or more years commercial real estate work experience.
• Understanding of basic real estate terms and concepts such as net leases, gross leases, contracts, rents, percentage rents, operating expenses, capital expenditures, expense recoveries, property types.
• Understanding of basic finance concepts such as amortization, interest rates, net operating income, cash flow returns, cap rates, internal rate of return, present value/discounted cash flow, and property valuations.
• Advanced knowledge of Microsoft Excel.
• Strong quantitative skills and demonstrated analytical ability.
• Ability to operate independently and in a team environment, with good judgement and attention to detail while managing multiple projects simultaneously.
• Interact professionally with internal and external parties, including originations, transactions, risk, legal, developers, investment firms, borrowers, and third‑party service providers.
• Self‑motivated with perseverance, and a hands‑on, proactive style.
• Some travel is required.

What Will Set You Apart

• Proficiency in Argus Enterprise.
• Experience with construction financing, mezzanine, and preferred equity.
• PGIM welcomes all applicants, even if you don't meet every requirement. If your skills align with the role, we encourage you to apply.

Note: Prudential is required by state specific laws to include the salary range for this role when hiring a resident in applicable locations. The salary range for this role is from $135,000 to $145,000. Specific pricing for the role may vary within the above range based on many factors including geographic location, candidate experience, and skills. Roles may also be eligible for additional compensation and/or benefits.

About PGIM Real Estate

With $207.9 billion in gross assets under management and administration ($133.8 billion net),1 PGIM Real Estate provides investors and borrowers access to a range of real estate equity, real estate debt, agriculture, and impact solutions across the risk-return spectrum.

PGIM Real Estate is a business of PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU). PGIM Real Estate’s risk management approach, execution capabilities and industry insights are backed by a 50-year legacy of investing in commercial real estate, a 140-year history of real estate financing,2 and the local experience of professionals in 32 cities globally. Through its investment, financing, asset management, and talent management approach, PGIM Real Estate engages in practices that strive to ignite positive environmental and social impact, while pursuing activities that seek to strengthen communities around the world. For more information visit pgimrealestate.com.

What We Offer You

• Market competitive base salaries, with a yearly bonus potential at every level.
• Medical, dental, vision, life insurance, disability insurance, Paid Time Off (PTO), and leave of absences, such as parental and military leave.
• 401(k) plan with company match (up to 4%).
• Company-funded pension plan.
• Wellness Programs including up to $1,600 a year for reimbursement of items purchased to support personal wellbeing needs.
• Work/Life Resources to help support topics such as parenting, housing, senior care, finances, pets, legal matters, education, emotional and mental health, and career development.
• Education Benefit to help finance traditional college enrollment toward obtaining an approved degree and many accredited certificate programs.
• Employee Stock Purchase Plan: Shares can be purchased at 85% of the lower of two prices (Beginning or End of the purchase period).

Eligibility to participate in a discretionary annual incentive program is subject to the rules governing the program, whereby an award, if any, depends on various factors including, without limitation, individual and organizational performance. To find out more about our Total Rewards package, visit Work Life Balance | Prudential Careers. Some of the above benefits may not apply to part‑time employees scheduled to work less than 20 hours per week.

Prudential Financial, Inc. of the United States is not affiliated with Prudential plc. which is headquartered in the United Kingdom.

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.

If you need an accommodation to complete the application process, please email [e-mail].

If you are experiencing a technical issue with your application or an assessment, please email [e-mail] to request assistance.