PGIM Real Estate - Manager, Portfolio Analytics at Prudential
Posted in Real Estate 30+ days ago.
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Location: New York, New York
PGIM Real Estate is the real estate investment business of PGIM, the global investment management businesses of Prudential Financial, Inc. 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 equity, debt and securities investment strategies that span the risk/return spectrum.
PGIM Real Estate Finance is one of the nation's leading providers of commercial mortgages for multifamily, retail, office, industrial, and hotel properties. It offers one of the most comprehensive lines of real estate finance products including fixed-rate, floating-rate and bridge loans; Fannie Mae DUS™, Freddie Mac and FHA insured; and affordable housing financing. Prudential is structured to provide clients with one source for all commercial mortgage financing and servicing needs, giving the firm a competitive advantage in the marketplace.
PGIM Real Estate Debt Strategies (PREDS) is the collaborative venture between PGIM Real Estate and PGIM Real Estate Finance. The PREDS business is responsible for investment and portfolio management of non-core and high-yield commercial real estate debt products through funds and separately managed accounts. PREDS’ investments may include whole loans, mezzanine loans, B-Notes and preferred equity across a spectrum of underlying real estate risk and sponsor strategies. Transaction types include recapitalizations, refinancing, re-positioning, acquisitions and development/heavy transition. PREDS focuses on the non-core debt markets in the Americas, by leveraging both its investment track record and its affiliated US debt and equity origination platforms, as well as working in partnership with other business units within PGIM.
The Manager, Portfolio Analytics will support the portfolio management function for PREDS with responsibility for liquidity and operational fund management, portfolio-level reporting and marketing activities associated with day-to-day transaction activity. This individual will work closely with portfolio management providing oversight of the account’s operations and strategy, structuring of new investments, and monitoring the impact that dispositions can have on the current portfolio leverage/financing status. They will have regular contact with asset management relating to the status of underlying investments of the funds. This role will have frequent interaction with multiple internal stakeholder groups including but not limited to Asset Management, Transactions, Fund Accounting, Business Development, Legal, Research, and Valuations.
- Responsible for fund-level projections regarding returns, liquidity, risk profile, diversification, leverage, revenue, fees and REIT-specific criteria.
- Working with Portfolio Management on capital flow activity and associated timing.
- Oversight of content and timely completion of quarterly client materials
- Flash Report
- Quarterly Report
- Investor Call Presentation
- Client Presentations/Pitch books
- Advisory Council materials
- Assist with Client/Consultant DDQ’s, RFP’s, and ad hoc requests.
- Responsible for providing portfolio managers with quarterly/annual attribution and other ad-hoc analysis necessary to manage the fund strategies.
- Oversight for the preparation of the Portfolio Suitability analysis on all new investments (distributed at Investment Committee meetings).
- Responsible for managing portfolio level debt.
- Provide oversight of content of Portfolio Risk Reviews working closely with portfolio management to determine messaging and investment ratings.
- Review and sign-off on Management Fee Calculation.
- Assist in financial and tax reporting in conjunction with our outside tax and accounting service providers, portfolio management and fund accounting.
- Serve as the portfolio liaison with internal stakeholder groups including Fund operations, Asset Management, Legal, Client Services, Business Development and Valuations.
- Bachelor's degree in Finance, Accounting, or Economics required; Masters in Business Administration or Real Estate preferred.
- Minimum 5 years experience in finance or accounting with a focus on investment fund reporting.
- 2-3 years experience in the real estate investment industry strongly preferred
- Familiarity with real estate debt investments including performing and non-performing whole loans, mezzanine loans, B-Notes, preferred equity and CMBS and familiarity with real estate equity investments.
- Understanding of basic real estate terms and concepts such as net leases, gross leases, contract rents, percentage rents, operating expenses, capital expenditures, recovery of expenses, property types.
- Understanding of basic finance concepts such as NOI returns, cash flow returns, internal rate of return (IRR), present value/discounted cash flow
- Ability to work on a team and work independently.
- Strong quantitative skills and demonstrated analytical ability.
- Strong organizational skills and attention to detail with ability to manage multiple projects and staff, simultaneously.
- Self-starter and intellectually curious.
- Computer proficiency with a strong working knowledge of the suite of Microsoft Office applications, most particularly Excel.
- REIT/Tax knowledge is a plus.
- Experience working with loan servicers is a plus.
- Strong interpersonal/communication skills.
Any applicant selected for this position will be required to submit to an extensive background screening and a credit check. Failure to comply will eliminate an applicant from consideration for this position. Any negative information obtained as a result of the background screening may result in the disqualification of the applicant from this and any other position in Prudential.
All candidates must be authorized to work in the United States. Prudential is an Equal Opportunity/Affirmative Action Employer and is committed to diversity in its workforce.