Asset Management Associate, CRE Debt

3 weeks ago

New York, United States PIMCO Full time
PIMCO is a global leader in active fixed income with deep expertise across public and private markets. We invest our clients' capital across a range of fixed income and credit opportunities, leveraging our decades of experience navigating complex debt markets. Our flexible capital base and deep relationships with issuers have helped us become one of the world's largest providers of traditional and nontraditional solutions for companies that need financing and investors who seek strong risk-adjusted returns.

Since 1971, our people have shaped our organization through a high-performance inclusive culture, in which we celebrate diverse thinking. We invest in our people and strive to imprint our CORE values of Collaboration, Openness, Responsibility and Excellence. We believe each of us is here to help others succeed and this has led to PIMCO being recognized as an innovator, industry thought leader and trusted advisor to our clients.

Commercial Real Estate ("CRE") Debt Overview

PIMCO invests in real estate debt opportunities through the flagship series PIMCO Commercial Real Estate Debt Funds I and II ("PCRED"), closed-end funds focused on traditional bridge lending throughout the U.S. In addition to the PCRED funds, the CRE debt team also invests in real estate debt opportunities through several other existing credit strategies with capital flexibility up and down the CRE debt risk spectrum.

The firm's U.S. real estate debt team sources, underwrites, and invests along the entire debt capital stack including senior mortgages, mezzanine financing, CMBS, and preferred equity. The team benefits from a flexible pool of capital with the ability to invest across asset types, geographies, and the capital structure. Asset Management Associate works closely with senior team members both on the asset management and portfolio management teams to help support with the oversight and pro-active portfolio management of CRE debt investments.

Key Responsibilities
  • Assist in the ongoing and pro-active asset management of a portfolio of debt investments up and down the capital stack to maximize value and minimize risk
  • Develop excel models projecting project level cash flows, borrower returns, lender returns, and fund level returns.
  • Draft and negotiate term sheets and loan documentation.
  • Prepare detailed Investment Committee memos and presentations.
  • Lead and/or manage due diligence of new investments, including but not limited to market research, broker calls, third party reports, financial statement audits, lease reviews.
  • Lead and/or manage closing execution of new investments, including but not limited to coordinating with internal and external stakeholders, consultants, and investors.
  • Capital Markets execution and coordination.
  • Develop and work with financing sources to procure leverage for fund investments (e.g. loan-on-loan, senior/mezz, A/B).
  • Support asset management of fund investments, including developing and executing business plans, and managing relationships with sponsors, financing sources, and third party service providers.
Qualifications
  • 2-4 years of relevant real estate investment banking or private equity experience. Asset-level underwriting experience highly preferred
  • Exceptional financial modeling skills and proficiency in Argus
  • Outstanding academic credentials and demonstrated leadership capabilities
  • Strong work ethic and integrity, candidate should be a team player that is proactive and self-motivated
  • Strong analytical, interpersonal communication, and writing skills
  • Ability to work effectively on multiple projects simultaneously
  • Desire to join an entrepreneurial team and grow along with the platform
  • Positive attitude and eagerness to learn
PIMCO follows a total compensation approach when rewarding employees which includes a base salary and a discretionary bonus. Base salary is the fixed component of compensation that is determined by core job responsibilities, relevant experience, internal level, and market factors. The discretionary bonus is used to award performance and therefore is determined by company, business, team, and individual performance.

Salary Range: $ 135,000.00 - $ 185,000.00

Equal Employment Opportunity and Affirmative Action Statement

PIMCO recruits and hires qualified candidates without regard to race, national origin, ancestry, religion (including religious dress and grooming practices), sex (including pregnancy, childbirth, breastfeeding, or related medical conditions), sexual orientation, gender (including gender identity and expression), age, military or veteran status, disability (physical or mental), any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other basis such as medical condition, or marital status under applicable laws.

Applicants with Disabilities

PIMCO is an Equal Employment Opportunity/Affirmative Action employer. We provide reasonable accommodation for qualified individuals with disabilities, including veterans, in job application procedures. If you have any difficulty using our online system due to a disability and you would like to request an accommodation, you may contact us at 949-720-7744 and leave a message. This is a dedicated line designed exclusively to assist job seekers with disabilities to apply online. Only messages left for this purpose will be considered. A response to your request may take up to two business days.

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