Posted in Accounting 30+ days ago.
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Location: Madison, New Jersey
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 $70.5 billion ($50.5 billion net) as of March 31, 2019.
PGIM Real Estate is seeking a Vice President in our Tax function reporting to the Head of Americas Tax for PGIM Real Estate. This individual will directly support real estate transaction and third party investor tax structuring in the U.S. and Latin America. The individual will work in close coordination with the VP of Tax Compliance on tax reporting issues including REIT testing and foreign investor withholding requirements.
The position can be based in either Madison, NJ or New York City, however if the latter will require a minimum of 2 days per week in the Madison, NJ office.
Duties & Responsibilities:
• Provide tax guidance and structuring input on acquisitions, dispositions, and other significant transactions on investments held through PGIM’s REIT Funds.
• Conduct strategic tax planning for all US investment funds which are structured as REIT’s and interface with portfolio management, asset management and transactions teams on both the REIT structuring of acquisitions and dispositions and managing overall potential transaction activity within the constraints of operating as a REIT.
• Assist in oversight of the REIT testing process undertaken by our fund operations group and in conjunction with external advisors.
• Provide tax guidance and planning on all PGIM Real Estate Funds structured as partnerships.
• Assist in management of outside vendors such as REIT legal counsel and tax advisors.
• Partner with Prudential corporate and external tax advisors regarding REIT and related tax issues.
• Consult with portfolio management teams, legal counsel and tax advisors on inbound tax structuring for US funds.
• Assist in creation of marketing materials related to tax matters of the funds.
• Speak to investors and their advisors about the tax characteristics of the funds and assist in tax due diligence of the funds.
• Assist in the structuring of inbound feeders, corporate blockers and other legal structures for the tax efficient investing into PGIM Real Estate funds.
• Work with advisors on managing the appropriate withholding to be done on distributions to taxable US and international investors in the US investment funds.
• Provide support and day to day tax oversight for PGIM Real Estate’s Latin American investment funds.
• Work in close coordination with the VP of Tax Compliance and provide additional support to the annual tax reporting period.
• Bachelors’ degree in accounting or related field is required; Masters degree or JD strongly preferred.
• Minimum of 10 years work experience with at least 6 years serving as an attorney, tax accountant or tax advisor for REIT’s within a large US REIT or third party service provider; experience in structuring real estate funds and transactions strongly preferred.
• Strong familiarity with US tax laws and REIT rules and their application in practice is required.
• Experience and familiarity with partnership taxation and taxation of inbound investment preferred.
• Strong interpersonal skills with the demonstrated ability to work effectively with senior real estate investment professionals.
• Must be a self-starter, with the ability to prioritize competing initiatives; ability to work both independently and within a team.
• Strong executive presence and communication skills with the ability to succinctly describe complicated tax rules and structures in a way that makes sense to non-tax professionals.