CRE Debt 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 ("CRE") Debt Overview
PIMCO currently invests in real estate debt opportunities through the flagship PIMCO Commercial Real Estate Debt Fund ("PCRED I"), a closed-end fund focused on traditional bridge lending throughout the U.S. In addition to PCRED I, 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. CRE Debt Associates work closely with senior members of the team to assist in organizing, underwriting, and executing CRE debt transactions. Location:
New York, NY 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 debt assets within PCRED.
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 PCRED and other PIMCO investment vehicles. Responsibilities
- Manage a portfolio of debt investments to maximize value and minimize risk
- Work with external partners including borrowers, attorneys, and third-party consultants
- Provide detailed investment performance information to internal and external parties
- Perform yearly inspections (travel where required)
- As needed, structure, underwrite and seek approval for loan modifications
- Manage yearly collateral valuation/re-underwriting process
- Coordinate setup of loans internally and work closely with third party servicing team, authorizing credit and funding actions as necessary
- Build and enhance asset management reporting, portfolio analytical activities, and stress testing
- Assist in capital market activities with leverage providers
- 2-5 years of relevant real estate experience in underwriting, asset management, or servicing/operations
- 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.
- Prior experience working with/reviewing loan documents preferred
- 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