PGIM Real Estate | Investment Vice President (Multifamily Asset Management) at Prudential Ins Co of America in Atlanta, Georgia

Job Description:

PGIM is the diversified asset management business of Prudential Financial, Inc. (NYSE: PRU). With $1.4 trillion in assets under management, and 38 offices spanning 16 countries, PGIM is among the world’s top-10 largest asset managers. Comprised of seven self-governing asset management divisions, each PGIM business offers a distinct workplace culture that aligns with the firm’s ultimate objective: to provide premier service to our clients while fostering an inclusive workplace culture that is rooted in trust, respect and equality.

Our Business:

As one of the largest real estate managers in the world with more than $180 billion in gross assets under management and administration, PGIM Real Estate strives to deliver exceptional outcomes for investors and borrowers through a range of real estate equity and debt solutions across the risk-return spectrum. Our scope of insights, rigorous risk management and seamless execution are backed by a 50-year legacy of investing in commercial real estate, a 140-year history of real estate financing and the deep local expertise of professionals in 32 cities globally.

Through our investment, financing, asset management and talent management approach, we engage in practices that ignite positive environmental and social impact, while pursuing activities that strengthen communities around the world. When you join our team, you’ll find yourself inspired by an inclusive company culture that believes that diversity of all kinds allows us to develop better and more innovative solutions for our clients.

Our Role:

We are looking for an astute, determined professional like you to fulfill an Investment Vice President role within our Multifamily Asset Management team. You will showcase your success through collaboration, ownership and innovation. Your expertise in emerging trends and practices will evoke stimulating discussions around optimization and change to help keep our competitive edge. This rewarding opportunity will enable you to make a big impact in our organization, so if this sounds exciting, then PGIM might be the place.

Your Impact:

• Provide general asset management and direction for a portfolio of multifamily properties.  This includes frequent contact and direction with property managers and operating partners.


• Evaluate potential development transactions in terms of overall deal strength as well as portfolio suitability.  Review initial documentation for transactions -- interacting with partners, lenders, attorneys and deal team.  Monitor the construction process and manage issues with partners, consultants and lenders.


• Oversee the budget process and preparation of the annual strategic plan for each property. Review periodic property reports and track operating performance. Prepare regular updates summarizing results and respond to information requests


• Provide assistance to the portfolio management and transactions teams for both the acquisition and disposition of properties


• Understand general trends and individual property markets / submarkets


• Supervise and train analysts


• Prepare analyses of various investment decisions – leasing; financing; acquisition; hold/sell


• Review quarterly appraisals for factual accuracy and consistency with other similar properties 
   

Your Required Skills:

• Bachelor’s degree required in finance, accounting, economics; emphasis in real estate preferred


• Candidates must have at least 10 years of related real estate experience preferably with development and multifamily asset management experience; experience working with joint venture partners a plus


• Understanding of key real estate agreements including leases, purchase and sale agreements, management and leasing agreements, partnership agreements, development agreements and loan agreements.


• Understanding of basic real estate terms and concepts such as net leases, gross leases, contracts, rents, percentage rents, operating expenses, capital expenditures, recovery of expenses, property types and basic finance concepts such as NOI returns, cash flow returns, internal rate of return, present value/discounted cash flow, capital markets


• Awareness of portfolio goals and ability to develop and monitor specific plans for individual investments that contributes to these goals


• Strong interpersonal/communication skills; ability to develop and ask questions, negotiate acceptable terms with third parties and to make presentations to senior management, investment committee or clients, when necessary


• Capability of simultaneously handling multiple assignments and to direct and monitor the activities of others on a systematic basis

Your Desired Skills:

• Ability to use financial and valuation software including Argus


• Experience working with joint venture partners


• Involvement in promoting ESG, proptech and data initiatives


• Possess existing relationships with multifamily developers, property managers and brokers

Our Culture:

Prudential Financial, Inc. is focused on creating a fully inclusive culture, where all employees feel comfortable bringing their authentic selves to work. We don’t just accept difference—we celebrate it, support it, and thrive on it. At Prudential, employees have a unique opportunity to build their career path by owning their development, their career and their future. We encourage employees to hone their skills and explore continued opportunities within Prudential.

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Prudential Financial, Inc. of the United States is not affiliated with Prudential plc. which is headquartered in the United Kingdom.

Prudential is a multinational financial services leader with operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. The company's well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, asset management, and real estate services.

We recognize that our strength and success are directly linked to the quality and skills of our diverse associates. We are proud to be a place where talented people who want to make a difference can grow as professionals, leaders, and as individuals. Visit www.prudential.com to learn more about our values, our history and our brand.

Prudential is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, national origin, ancestry, sex, sexual orientation, gender identity, national origin, genetics, disability, marital status, age, veteran status, domestic partner status , medical condition or any other characteristic protected by law. 

The Prudential Insurance Company of America, Newark, NJ and its affiliates.

Note that this posting is intended for individual applicants. Search firms or agencies should email Staffing at staffingagencies@prudential.com for more information about doing business with Prudential.

PEOPLE WITH DISABILITIES:
If you need an accommodation to complete the application process, which may include an assessment, please call (800) 433-8960, prompt 4 or email accommodation.h&w@prudential.com.

Please note that the above number and email are solely for individuals with disabilities requesting an accommodation.  If you are experiencing a technical issue with your application or an assessment, please email careers@prudential.com to request assistance.