CRE Equity Associate

1 month 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.

Job Description

Commercial Real Estate Team Overview

PIMCO currently invests in real estate opportunities primarily through its PIMCO Real Estate Opportunities Fund (PREO), which is seeking to capitalize on real estate distress and dislocation, and its PIMCO Flexible Real Estate Income Fund (REFLX), which has a primary investment objective of providing current income with a secondary objective of long- term capital appreciation. The firm's U.S. real estate team sources, underwrites, and invests in private and public real estate opportunities, including direct real estate, preferred equity, mezzanine financing, commercial mortgage-backed securities, and other real estate related investments. The team benefits from a flexible pool of capital with the ability to invest across asset types, geographies, and the capital structure. CRE Associates work closely with senior members of the team to assist in underwriting and executing real estate transactions for PREO, REFLX, and other PIMCO investment vehicles.

Location : New York, NY

Responsibilities
  • Develop cash flow projection models with respect to investments, including direct investments, joint ventures, developments, structured finance, and performing/non-performing loan portfolios
  • Assist with all due diligence relating to new investments, including the review of business plans, third party reports, title/survey, historical financial statements, leases, vendor contracts, and market research
  • Assist with deal execution, including drafting and negotiating acquisition and joint venture term sheets, and reviewing deal documentation
  • Assist in underwriting of CMBS bonds
  • Procure asset level debt financing and implement hedging mechanisms as necessary
  • Support asset management of fund investments, including developing and executing business plans, and managing relationships with joint venture partners and third-party service providers
  • Monitor and analyze the financial performance of investments
  • Create and maintain portfolio models as necessary
  • Prepare detailed Investment Committee memos and presentations
  • Support the development of new business initiatives in commercial real estate for PIMCO
Requirements
  • 1-3 years of relevant real estate investment banking, private equity experience or direct commercial real estate operator/developer 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 who is proactive and self-motivated
  • Strong analytical, interpersonal communication, and writing skills
  • Ability to work effectively on multiple projects simultaneously
  • 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: $ 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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