CRE Equity Asset Management Associate
We are PIMCO, a leading global asset management firm. We manage investments and develop solutions across the full spectrum of asset classes, strategies and vehicles: fixed income, equities, commodities, asset allocation, ETFs, hedge funds and private equity. PIMCO is one of the largest investment managers, actively managing more than $2.21 trillion in assets for clients around the world. PIMCO has over 3,025 employees in 20 offices globally. PIMCO is recognized as an innovator, industry thought leader and trusted advisor to our clients.
PIMCO is one of the worldâ€™s premier fixed income investment managers with thousands of professionals around the world united in a single purpose: creating opportunities for our clients in every environment. Since 1971, we have brought innovation and expertise to our partnership with the institutions, financial advisors and millions of individual investors who entrust us with their assets. We aspire to cultivate performance and leadership through empowering our people, diversity of thought, and a commitment to an inclusive culture that engages in our global communities. Position Description: Commercial Real Estate Team Overview
PIMCO currently invests in real estate opportunities primarily through its $4.6B BRAVO III fund, and is in the process of realizing its $5.5 billion and $2.4 billion predecessor funds (BRAVO II and BRAVO I). The firm's US real estate team sources, underwrites, and invests in private and public real estate opportunities, including direct real estate, equity joint ventures, 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. Job Description
PIMCO is seeking a Commercial Real Estate ("CRE") associate to join the US PIMCO Commercial Real Estate team who will be primarily focused on asset management of CRE assets within its BRAVO funds.
While the Asset Management Associate will primarily work closely with the senior asset managers, he/she may be called upon to also work with other members on the CRE team to assist in underwriting and executing real estate transactions for BRAVO and other PIMCO investment vehicles. Location:
Newport Beach, CA or New York, NY. Responsibilities
- Work with senior asset managers to proactively manage the existing portfolio of CRE investments to create and protect maximum value.
- Prepare periodic valuations of individual CRE assets and compile portfolio level financial roll-ups and performance metrics for both internal and external reporting.
- Monitor and analyze the financial performance of investments.
- Provide analytical support including development and maintenance of cash flow projection models.
- Assist senior asset managers in the development and execution of business plans, management of relationships with joint venture partners and third-party service providers.
- Review of partner business plans, third-party reports, title/survey, historical financial statements, leases, vendor contracts, and market research.
- Prepare Investment Committee memos and presentations associated with the execution of business plans.
- Procure asset level debt financing and implement hedging mechanisms as necessary.
- 1-5 years of relevant real estate operator, investment banking, finance/accounting, or real estate private equity experience preferred. Asset-level underwriting, valuation, asset management or real estate sponsor-developer/accounting backgrounds preferred.
- Exceptional financial modeling skills, proficiency in Argus, and strong writing abilities required.
- 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.
PIMCO is committed to offering a comprehensive portfolio of employee benefits designed to support the health and well-being 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