Portfolio Manager – Commercial Real Estate Originator

  • Competitive
  • New York, NY, USA
  • Permanent, Full time
  • Pimco
  • 19 Nov 17 2017-11-19

Portfolio Manager – Commercial Real Estate Originator

Position Description

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, corporate credit and real estate. PIMCO has over 2,150 employees in 12 offices globally. PIMCO is recognized as an innovator, industry thought leader and trusted advisor to our clients.

Commercial Real Estate Team Overview
PIMCO currently invests in real estate opportunities primarily through its BRAVO III, and is in the process of realizing its $5.5 billion and $2.4 billion predecessor funds (BRAVO II and BRAVO I). PIMCO is sponsoring a newly formed debt fund, PIMCO Commercial Real Estate Debt (PCRED) through which the firm's U.S. real estate team will source, underwrite, and invest in private and public real estate debt opportunities, including senior mortgages, mezzanine financing, commercial mortgage backed securities, and other real estate debt related investments. CRE Originators work closely with junior and senior members of the team in sourcing, underwriting and executing real estate transactions for PCRED and other PIMCO investment vehicles.

Location: New York, NY

Daily Responsibilities:

  • Source, negotiate and close CRE debt transactions across the capital stack including whole loans, mezzanine, B Notes and preferred equity
  • Leverage current relationships, develop new relationships, and manage internal and external stakeholders.
  • Targeting investments of $20MM - $500MM, he/she will work nationwide with direct borrowers, brokers, banks and other providers of capital
  • Targeting the value-add to opportunistic end of the risk return spectrum, the candidate will develop cash flow projection models with the goal of presenting their own view of value and substantiate the underlying assumptions in a Deal Review environment. Risk mitigation will be a constant theme through underwriting, structuring and asset management
  • He/she will also assist with deal process and execution including due diligence, structuring, loan closing, asset management support and on-going deal monitoring
  • Assist the legal team in drafting and negotiating loan documents including coordination of third parties with respect to title, zoning, environmental, engineering and appraisals
  • Support asset management of debt investments, including monitoring of underlying asset business plans, modifications of debt investments, and managing relationships with borrowers and third party service providers
  • Prepare and present detailed Investment Committee memos and presentations
  • Support the development of new business initiatives in commercial real estate for PIMCO

Position Requirements

  • 10-20 years of business experience gained in an established high yield real estate lending/investment business, mortgage reit, opportunity fund or investment bank
  • Track record of success with strong and deep relationships, sourcing and executing his/her own deals including negotiating loan documents and structuring stretch-senior floating rate loans. Experience working with external counsel, brokers and advisors.
  • An understanding of investor relations, capital raising, marketing, financial reporting, legal/regulatory compliance, and fund/dal structuring are all helpful qualifications
  • Demonstrated leadership capabilities and mentoring experience as he/she will be expected to guide junior level colleagues in their career and build on their CRE experience.
  • Strong work ethic and integrity, candidate should be a team player that is proactive and self-motivated
  • Strong analytical, interpersonal communication, and writing skills
  • Ability to work effectively on multiple projects simultaneously

We are an Equal Opportunity Employer and do not discriminate against any employee or applicant for employment because of race, color, sex, age, national origin, religion, sexual orientation, gender identity, status as a veteran, and basis of disability or any other federal, state or local protected class.