CRE Debt Asset Manager

4 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.

Position Location: New York, NY

PIMCO invests in real estate debt opportunities through the flagship PIMCO Commercial Real Estate Debt Funds ("PCRED I" and "PCRED II"), 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 Senior Vice President will be a senior member of the team responsible to oversee and pro-actively manage a portfolio of CRE debt investments.

Working within the US Commercial Real Estate debt team, the Asset Manager will monitor and manage debt investments across all phases of its life cycle post-origination. The key responsibility of this hire will be to provide oversight to the existing private CRE loan portfolio, ensuring proper performance of loan assets held across a number of PIMCO fund vehicles. Providing drive and leadership, the individual must communicate frequently with other members of the US CRE team to capitalize on group synergies and to ensure decisions are consistent with the overall investment thesis.

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
  • Build and enhance asset management reporting, portfolio analytical activities, and stress testing
  • Actively monitor key performance indicators, property and financial performance, market conditions, servicing and administration of project draws/fundings.
  • Proactively identify any potential credit/market risks as well as proposed solutions associated with the investment
  • Ability to interpret and negotiate loan document terms
  • Proactively work with external partners including borrowers, attorneys, servicers, co-lenders, financing partners and third-party consultants
  • Approve and oversee borrower execution of asset level business plans
  • Provide detailed investment performance information to internal and external parties
  • Perform property site inspections (travel where required)
  • As needed, structure, underwrite and seek approval for loan modifications
  • Manage collateral valuation/re-underwriting process
  • Coordinate setup of loans internally and work closely with third party servicing team
  • Assist in capital markets activities with existing and new leverage providers
  • Mentor junior Associates
  • Participate in credit process and assist in underwriting, review of borrower business plans, and transition activities to asset management.
  • Assist in refining best-in-class asset management policies and procedures.
Qualifications:
  • Extensive real estate credit experience in underwriting, originating, asset management, or servicing fields, experience in non-performing loans or other types of distressed preferred
  • Ability to handle large loans ($100 Million and above) with a focus on transitional, redevelopment and ground-up construction profiles.
  • Exceptional analytical skills, financial modeling skills, proficiency in Argus, and strong writing abilities.
  • Extensive experience in working with/negotiating/reviewing loan documents.
  • Outstanding academic credentials and demonstrated leadership capabilities.
  • Understanding of the legal structure, rights and motivations for co-lending and junior / senior (inter-creditor) structures
  • Strong work ethic and integrity; candidate should be a team player who is proactive and self-motivated. Must demonstrate ability to get along with and motivate others.
  • Poised and articulate, well-refined communications skills - ability to analyze complex situations and articulate ideas and strategies clearly, both verbally and in writing.
  • Proven experience/skills working across cross-functional teams (internal/external constituencies).
  • Strong analytical skills and experience managing reporting and reviewing accounting functions.
  • Driven, energetic, well-organized, good administrative skills, attention to detail.
Benefits

PIMCO is committed to offering a comprehensive portfolio of employee benefits designed to support the health and wellbeing of you and your family. Benefits vary by location but may include:
  • Medical, dental, and vision coverage
  • Life insurance and travel coverage
  • 401(k) (defined contribution) retirement savings, retirement plan, pension contribution from your first day of employment
  • Work/life programs such as flexible work arrangements, parental leave and support, employee assistance plan, commuter benefits, health club discounts, and educational/CFA certification reimbursement programs
  • Community involvement opportunities with The PIMCO Foundation in each PIMCO office
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: $ 205,000.00 - $ 240,000.00

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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