PGIM Real Estate Investment Associate (Los Angeles, CA)

Prudential Financial, Inc.; Los Angeles (CA); Hybrid; USD 110,000 - 180,000; Full time

Job summary

PGIM in Los Angeles is seeking an Investment Associate to support its debt originations team, focusing on higher yielding bridge, construction, mezzanine, and preferred equity opportunities.

You will build cash flow and Argus models, assist in due diligence, prepare memoranda, and collaborate with portfolio management and loan servicing teams, with a 3-4 day in-office schedule.

Qualifications

• Bachelor's degree in Finance, Real Estate, or related discipline.
• 3+ years of commercial real estate work experience.
• Understanding of basic real estate terms (net/gross leases, rents, opEx).
• Understanding of finance concepts (IRR, NPV, cash flow, cap rates).
• Advanced knowledge of Microsoft Excel.
• Strong quantitative skills and analytical ability.
• Ability to operate independently and in a team environment with good judgment.
• Interact professionally with internal and external parties.
• Self-motivated with a hands-on, proactive style.
• Some travel is required.

Responsibilities

• Analyze and underwrite commercial real estate debt opportunities across property types.
• Create cash flow models, Argus models, sensitivity tables, rent rolls, waterfalls.
• Prepare Investment Committee memoranda with market research and risk analysis.
• Analyze conditions affecting investments within geography.
• Assist senior professionals in due diligence and closing processes.
• Assist in loan level financings and appraisal review as needed.

Skills

Quantitative skills

Analytical ability

Independent & team work

Education

Bachelor's degree in Finance/Real Estate

Tools

Microsoft Excel

Argus Enterprise

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.

Note: Prudential is required by state specific laws