Real Estate Associate
- London, England, United Kingdom
- Permanent, Full time
- PIMCO Europe Ltd
- 23 Apr 19
Real Estate Associate
PIMCO, is a global investment management firm that was founded in Southern California in 1971. As of December 31, 2018, PIMCO has $1.66 trillion in assets under management, 795+ investment professionals and approx. 2,500 total employees. The firm serves an array of clients and manages retirement and other assets that reach more than 8 million people in the U.S. and millions more around the world. PIMCO's clients include state, municipal, union and private sector pension and retirement plans; educational, foundations, endowments, philanthropic and healthcare institutions; individual and investment saving accounts; and public sector reserve management and other public entities in North and South America, Europe, the Middle East and Asia. PIMCO is owned by Allianz S.E., a global diversified financial services provider.
PIMCO Real Estate is part of PIMCO's Alternatives platform with over $34 billion in assets under management across a mix of private equity, evergreen and hedge fund vehicles, and with a range of target returns. The alternatives platform comprises a broad and growing suite of flexible strategies, focused primarily on corporate, real estate and specialty finance sectors, as well as securities trading, and spanning the US, Europe and emerging markets. The teams dedicated to these alternatives strategies are integrated into PIMCO's firm-wide global macroeconomic and Analytics resources. The PIMCO Real Estate team has a broad investment mandate, including investments in private and public equity and debt in real estate and real-estate related assets. Whether we invest in commercial and residential properties and portfolios, or directly into real estate operating companies and servicing platforms, we seek to apply a consistent set of investment principles and analytics, leveraging both public and private data points.
An asset management associate position is available for an individual who has an interest in developing their career within asset management. The person will be responsible for analysing the financial performance of residential and commercial property portfolios as well as preparing and presenting strategic recommendations for Investment Committees.
The role is based in London within the Pan-European Asset Management Team. Principal responsibilities include the accurate financial modelling and analysis of both residential and commercial portfolio investments. The Analyst/Associate will work with senior members of the asset manager team and joint venture partners to review to implement the underwritten and annual business plan. The applicant can be expected to be involved in investments that are valued from €50 million upwards and will be involved in assets in varying stages of the investment cycle. Travel throughout Europe willrequired.
Direct experience in property portfolio management is preferred, and MS Excel modelling skills is essential. The candidate will be expected to maintain an up to date understanding of European property market sectors, cycles, key performance drivers along with effective working relationships with both colleagues and external advisors.
- Accurate Excel financial modelling and analysis of investments and investment strategies monitoring key performance indicators of risk and return and running sensitivities.
- Providing research data to support business plan assumptions and testing these to optimise returns i.e. capital structure, debt/equity, asset plan, legal and tax structure
- Analysis and reporting on results and variances.
- Work closely with joint venture partners and third party service providers (including property and asset managers, leasing and investment agents etc.) driving their performance and ensuring investment performance is in-line with the business plan.
- Handling the communication with external parties (agents, brokers, property managers, vendors, analysts, property surveyors).
- Preparing hold /sell analysis papers for the Investment Committee and quarterly reports for the fund.
- Gathering the appropriate market research and reviewing real estate surveys and benchmarks, economic and demographic trends for relevant sectors
- Conducting quality control reviews of property performance reports to ensure that appraisals have been conducted in accordance with the management objectives and investment plans.
- Developing and maintaining mechanisms of assets safeguard plans.
- Manage the debt financing on assigned investments and procure debt extensions, renegotiations, recapitalizations, etc. as necessary
- Strong background in financing and modelling of residential and commercial property portfolios and investment cases
- Previous transactional and asset management experience in a leading financial institution,
- Detailed appreciation of the physical side of property this includes all aspects of ongoing asset management, valuations and disposal strategies
- A solid grasp of European Real Estate market intelligence with a particular focus on western European markets
- Ideally experience in a number of European countries and understanding of financing and loan security packages
- Minimum work experience of 2-5 years
- Experience gained in a first rate professional services or investment environment, e.g. real estate management/private equity firm/advisory-account firm
- Advanced skills in financial modelling
- Good communication skills
- Experience of presentation preparation, and research
- Another European language a positive but not a must
- Strong academics - educated to degree level
- Ideally holding qualifications in engineering/science, finance, economics, or business studies
- Professional and positive attitude
- Ability to operate effectively under pressure in a changing environment
- Good organisational skills and ability to manage multiple priorities and deadlines
- Commitment to high standards with a focus on attention to detail
- Commercial acumen
- Confident decision making and ability to be proactive
- Ability to effectively operate in a cross-cultural environment
Internal - Acquisition, Finance and Fund Management teams.
External - Partners, agents and advisors.
The current opportunity is in PIMCO's Alternative Investment group. PIMCO entered the alternatives space in 2002 and had m ore than 100 investment professionals worldwide oversee hedge fund and opportunistic/distressed strategies, including global macro, credit relative value, volatility arbitrage, and distressed mortgage and corporate credit opportunities. As of 30 September 2018, PIMCO managed approximately $34 billion in alternative strategies and $18.3 billion in Alternative Credit and Real Estate.
• $2.4 billion in capital commitments for the first BRAVO fund (investment period ended January 2014)
• $5.5 billion in capital commitments for BRAVO II (investment period ended December 2017)
• $4.6 billion in capital commitments for BRAVO III (investment period ending December 2020)
For more information about PIMCO please visit http://www.pimco.com/
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