PGIM Real Estate -Investment Analyst-Transactions
About the position 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 We are looking for an astute, determined professional like you to fill the position of Investment Analyst within our US Transactions function. You will be empowered to contribute in a meaningful way, add new value to organization initiatives and effect change. This individual be a part of a small team responsible for sourcing, underwriting, financial modeling, and due diligence for new acquisitions on behalf of all PGIM’s real estate portfolios. Build cash flow and waterfall models, Investment Committee books, sensitivity tables, rent roll analyses, comparable property sets, and other financial analysis required to evaluate, pursue, and close acquisition/development opportunities. This role is based in PGIM’s New York City and Newark office. What you can expect Handle all areas of due diligence, underwriting, deal modeling, and closing for acquisition and development opportunities across various markets and asset classes with varying investment structures and risk profiles. Prepare Investment Committee memoranda and related materials through market research, risk analysis, and in-depth understanding of investment factors. Assist senior acquisitions professionals in deal structuring, financing, and negotiation of deal terms. Alongside senior members of the team, develop and cultivate strong relationships with real estate owners, operators, brokers, investment bankers, joint venture partners, and other industry participants. Work closely with asset management teams to monitor operational activity across existing portfolio, validate underwriting, and create business plans for new investments as well as provide support for existing assets and relationships as necessary. Work as part of a small team of junior professionals to maximize productivity of the Transactions team, support each other with complementary expertise, and work together to develop the skillsets of analysts and interns. Responsibilities • Build cash flow and waterfall models, Investment Committee books, sensitivity tables, rent roll analyses, comparable property sets, and other financial analysis required to evaluate, pursue, and close acquisition/development opportunities. • Handle all areas of due diligence, underwriting, deal modeling, and closing for acquisition and development opportunities across various markets and asset classes with varying investment structures and risk profiles. • Prepare Investment Committee memoranda and related materials through market research, risk analysis, and in-depth understanding of investment factors. • Assist senior acquisitions professionals in deal structuring, financing, and negotiation of deal terms. • Alongside senior members of the team, develop and cultivate strong relationships with real estate owners, operators, brokers, investment bankers, joint venture partners, and other industry participants. • Work closely with asset management teams to monitor operational activity across existing portfolio, validate underwriting, and create business plans for new investments as well as provide support for existing assets and relationships as necessary. • Work as part of a small team of junior professionals to maximize productivity of the Transactions team, support each other with complementary expertise, and work together to develop the skillsets of analysts and interns. Requirements • Bachelor’s Degree required in finance, accounting, economics, or a related field; emphasis in Real Estate preferred. • Minimum of 1-3 years of related real estate experience • Strong quantitative skills and demonstrated analytical ability including underwriting and financial analysis. • Understanding of basic real estate terms and concepts such as contracts, rents, operating expenses, capital expenditures, and occupancy. • Understanding of basic finance concepts such as NOI returns, cash flow returns, cap rates, internal rate of return, waterfalls, and present value/discounted cash flow. • Understanding of key real estate agreements including purchase and sale agreements, management agreements, partnership agreements, and loan agreements. Nice-to-haves • Proficiency in Excel and Argus modeling of development joint ventures and wholly owned acquisitions of all real estate product types • Strong communication and written skills • Work ethic • Views/ideas on how to integrate AI to make underwriting process more efficient. Benefits • 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), after one year of service.