PGIM Real Estate - Assistant Vice President, Real Estate Investments

  • Company: Prudential
  • Location: San Francisco, California
  • Posted: December 13, 2017
  • Reference ID: PRI0006D
PGIM Real Estate is the global real estate investment business 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 $69.0 billion ($50.5 billion net) as of September 30, 2017

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. For more information, please visit http://www.pgimrealestate.com .

Position Summary:
PGIM Real Estate currently has an outstanding career opportunity for an Assistant Vice President level Asset Manager working on behalf of the core plus real estate investment funds. The role entails directing partners, property managers and leasing brokers on a portfolio of west coast assets that are in a joint venture or wholly-owned. These investments currently include office, retail and residential properties that have different risk profiles that range from core to value add. The ideal candidate will be required to manage both operating assets as well as development projects, including: construction, lease-up, financing, and closing newly completed developments. The asset manager will work in concert with the national disposition team to sell stabilized properties. This position is based in San Francisco, CA and reports to a Vice President located in the region.

Duties & Responsibilities :
  • Provide general management and strategic direction for a diversified portfolio of properties. This includes frequent contact with property managers, operating partners or leasing brokers
  • Review final documentation to close into transactions upon completion of construction
  • Meet with management to set up initial leasing/opening strategies. Establish ongoing processes with leasing and property managers to monitor asset performance
  • Negotiate contracts with property management and leasing firms. Negotiate leases as appropriate
  • Oversee the budget process and preparation of the annual strategic plan for each property
  • Prepare analyses of various investment decisions - leasing; financing; acquisition; hold/sell
  • Review quarterly appraisals for factual accuracy and consistency with other similar properties
  • Review periodic property reports and track operating performance. Prepare quarterly updates summarizing results
  • Provide general management and direction through the development process working in concert with PGIMs Development Group
  • Monitor the construction process and manage issues with partners and consultants
  • Provide assistance to the transaction team for both the acquisition and disposition of properties
  • Evaluate potential transactions in terms of overall deal strength as well as portfolio suitability
  • Review initial documentation for transactions -- interacting with partners, lenders and attorneys
  • Review periodic internal reports prepared by analysts and respond to information requests from the home office
  • Supervise and train analysts

Qualifications:
  • Bachelor's degree required; Finance, Economics, Real Estate discipline preferred
  • Candidates must have at least 5-7 years of related commercial real estate experience, preferably with a development orientation
  • Understanding of key real estate agreements including leases, purchase and sale agreements, management and leasing agreements, partnership agreements and loan agreements
  • Ability to work on various real estate investments (office, multi-family, retail, etc.) owned directly or in a joint venture partnership
  • Knowledge of west coast real estate markets preferred
  • Awareness of portfolio goals and ability to develop and monitor specific plans for individual investments that contribute to these goals
  • Ability to make presentations to senior management, investment committee or clients, when necessary
  • Strong interpersonal/communication skills
  • Ability to use financial and valuation software including Word, Excel and Argus

Share this Job