PGIM Real Estate - Vice President, Multifamily Asset Management (Hybrid/Atlanta, GA)
Prudential
Posted Tuesday, April 16, 2024
Posting ID: R-117336
Atlanta, GA
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Job Classification:
Investment Management - Investments
A GLOBAL FIRM WITH A DIVERSE & INCLUSIVE CULTURE
As the Global Asset Management business of Prudential, we're always looking for ways to improve financial services. We're passionate about making a meaningful impact - touching the lives of millions and solving financial challenges in an ever-changing world.
We also believe talent is key to achieving our vision and are intentional about building a culture on respect and collaboration. When you join PGIM, you'll unlock a motivating and impactful career - all while growing your skills and advancing your profession at one of the world's leading global asset managers!
If you're not afraid to think differently and challenge the status quo, come and be a part of a dedicated team that's investing in your future by shaping tomorrow today. At PGIM, You Can!
What you will do
As an Investment Vice President, you will be assigned a broad range of responsibilities including, but not limited to, monitoring and influencing performance of portfolio properties, managing partner relationships, and mentoring and developing junior team members. You will showcase your success through collaboration, ownership, and innovation. Your expertise in emerging trends and practices will evoke stimulating discussions around optimization and change to help keep our competitive edge.
The ideal candidate will be required to manage both operating assets as well as development projects from construction through stabilization. They should have an understanding of basic real estate terms and concepts such as net leases, gross leases, contracts, rents, percentage rents, operating expenses, capital expenditures, recovery of expenses, property types and basic finance concepts such as NOI returns, cash flow returns, internal rate of return, present value/discounted cash flow, capital markets.
What you can expect
What we offer you
About PGIM Real Estate With $208B in gross assets under management and administration ($131B net), PGIM Real Estate provides investors and borrowers access to a range of real estate equity, real estate debt, agriculture, and impact solutions across the risk-return spectrum.
PGIM Real Estate is a business of PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU). PGIM Real Estate's risk management approach, execution capabilities and industry insights are backed by a 50-year legacy of investing in commercial real estate, a 140-year history of real estate financing, and the local experience of professionals in 32 cities globally. Through its investment, financing, asset management, and talent management approach, PGIM Real Estate engages in practices that strive to ignite positive environmental and social impact, while pursuing activities that seek to strengthen communities around the world. For more information visit pgimrealestate.com.
Our Commitment to Diversity, Equity, and Inclusion
Prudential Financial, Inc. is focused on creating a fully inclusive culture, where all employees feel comfortable bringing their authentic selves to work. We don't just accept difference-we celebrate it, support it, and thrive on it. At Prudential, employees have a unique opportunity to build their career path by owning their development, their career, and their future. We encourage employees to hone their skills and explore continued opportunities within Prudential.
#LI-SC1
#LI-Hybrid
Prudential Financial, Inc. of the United States is not affiliated with Prudential plc. which is headquartered in the United Kingdom.
Prudential is a multinational financial services leader with operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. The company's well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, asset management, and real estate services.
We recognize that our strength and success are directly linked to the quality and skills of our diverse associates. We are proud to be a place where talented people who want to make a difference can grow as professionals, leaders, and as individuals. Visit www.prudential.com to learn more about our values, our history and our brand.
Prudential is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, national origin, ancestry, sex, sexual orientation, gender identity, national origin, genetics, disability, marital status, age, veteran status, domestic partner status , medical condition or any other characteristic protected by law.
The Prudential Insurance Company of America, Newark, NJ and its affiliates.
Note that this posting is intended for individual applicants. Search firms or agencies should email Staffing at staffingagencies@prudential.com for more information about doing business with Prudential.
PEOPLE WITH DISABILITIES:
If you need an accommodation to complete the application process, which may include an assessment, please email accommodations.hw@prudential.com .
Please note that the above email is solely for individuals with disabilities requesting an accommodation. If you are experiencing a technical issue with your application or an assessment, please email careers.technicalsupport@prudential.com to request assistance.
Investment Management - Investments
A GLOBAL FIRM WITH A DIVERSE & INCLUSIVE CULTURE
As the Global Asset Management business of Prudential, we're always looking for ways to improve financial services. We're passionate about making a meaningful impact - touching the lives of millions and solving financial challenges in an ever-changing world.
We also believe talent is key to achieving our vision and are intentional about building a culture on respect and collaboration. When you join PGIM, you'll unlock a motivating and impactful career - all while growing your skills and advancing your profession at one of the world's leading global asset managers!
If you're not afraid to think differently and challenge the status quo, come and be a part of a dedicated team that's investing in your future by shaping tomorrow today. At PGIM, You Can!
What you will do
As an Investment Vice President, you will be assigned a broad range of responsibilities including, but not limited to, monitoring and influencing performance of portfolio properties, managing partner relationships, and mentoring and developing junior team members. You will showcase your success through collaboration, ownership, and innovation. Your expertise in emerging trends and practices will evoke stimulating discussions around optimization and change to help keep our competitive edge.
The ideal candidate will be required to manage both operating assets as well as development projects from construction through stabilization. They should have an understanding of basic real estate terms and concepts such as net leases, gross leases, contracts, rents, percentage rents, operating expenses, capital expenditures, recovery of expenses, property types and basic finance concepts such as NOI returns, cash flow returns, internal rate of return, present value/discounted cash flow, capital markets.
What you can expect
- Provide general asset management and strategic direction for a portfolio of properties, which includes frequent contact and direction with community managers and operating partners.
- Evaluate potential development transactions in terms of overall deal strength as well as portfolio suitability. Review initial documentation for transactions -- interacting with partners, lenders, attorneys, and deal team. Monitor the construction process and manage issues with partners, consultants, and lenders.
- Oversee the budget process and preparation of the annual strategic plan for each property in the portfolio.
- Review periodic property reports and track operating performance in the context of fund level portfolio management and reporting. Prepare regular updates summarizing results and respond to information requests.
- Serve as the market expert in assigned territories. Understand general trends and individual property markets / submarkets.
- Review quarterly appraisals for factual accuracy and consistency with other similar properties.
- Provide assistance to the transactions team for both the acquisition and disposition of properties.
- Conduct analyses of various investment decisions - acquisition; development; financing; hold/sell.
- Supervise, mentor, and train junior team members in the execution of day-to-day duties.
- Bachelor's degree and a minimum of 8 - 10 years of relevant real estate investment experience (including development and multifamily asset management).
- Understanding of key real estate agreements including purchase and sale agreements, management agreements, partnership agreements, development agreements and loan agreements.
- Experience managing a sizable portfolio of multifamily assets including assets under construction within institutional caliber organizations.
- Awareness of portfolio goals and ability to develop and monitor specific plans for individual investments that contributes to these goals.
- Strong interpersonal/communication skills; ability to develop and ask questions and negotiate acceptable terms with third parties.
- Capability of simultaneously handling multiple assignments and to direct and monitor the activities of others on a systematic basis.
- Understanding of risk management and portfolio diversification.
- Ability to make presentations to senior management, investment committee, or clients.
- Strong quantitative skills demonstrated analytical ability, and business writing skills.
- Experience working with joint venture partners
- Degree concentrating in Finance or Real Estate
- Ability to use financial and valuation software including Argus.
- Experience working with joint venture partners.
- Involvement in promoting ESG, Proptech and data initiatives.
- Possess existing relationships with multifamily developers, property managers and brokers.
What we offer you
- Medical, dental, vision, life insurance and PTO (Paid Time Off)
- Retirement plans:
- 401(k) plan with generous company match (up to 4%)
- Company-funded pension plan
- Wellness Programs to help you achieve your wellbeing goals, including up to $1,600 a year for reimbursement of items purchased to support personal wellbeing needs.
- Work/Life Resources to help support topics such as parenting, housing, senior care, finances, pets, legal matters, education, emotional health, and career development.
- Tuition Assistance to help finance traditional college enrollment, approved degrees, many accredited certificate programs, and industry designations.
About PGIM Real Estate With $208B in gross assets under management and administration ($131B net), PGIM Real Estate provides investors and borrowers access to a range of real estate equity, real estate debt, agriculture, and impact solutions across the risk-return spectrum.
PGIM Real Estate is a business of PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU). PGIM Real Estate's risk management approach, execution capabilities and industry insights are backed by a 50-year legacy of investing in commercial real estate, a 140-year history of real estate financing, and the local experience of professionals in 32 cities globally. Through its investment, financing, asset management, and talent management approach, PGIM Real Estate engages in practices that strive to ignite positive environmental and social impact, while pursuing activities that seek to strengthen communities around the world. For more information visit pgimrealestate.com.
Our Commitment to Diversity, Equity, and Inclusion
Prudential Financial, Inc. is focused on creating a fully inclusive culture, where all employees feel comfortable bringing their authentic selves to work. We don't just accept difference-we celebrate it, support it, and thrive on it. At Prudential, employees have a unique opportunity to build their career path by owning their development, their career, and their future. We encourage employees to hone their skills and explore continued opportunities within Prudential.
#LI-SC1
#LI-Hybrid
Prudential Financial, Inc. of the United States is not affiliated with Prudential plc. which is headquartered in the United Kingdom.
Prudential is a multinational financial services leader with operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. The company's well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, asset management, and real estate services.
We recognize that our strength and success are directly linked to the quality and skills of our diverse associates. We are proud to be a place where talented people who want to make a difference can grow as professionals, leaders, and as individuals. Visit www.prudential.com to learn more about our values, our history and our brand.
Prudential is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, national origin, ancestry, sex, sexual orientation, gender identity, national origin, genetics, disability, marital status, age, veteran status, domestic partner status , medical condition or any other characteristic protected by law.
The Prudential Insurance Company of America, Newark, NJ and its affiliates.
Note that this posting is intended for individual applicants. Search firms or agencies should email Staffing at staffingagencies@prudential.com for more information about doing business with Prudential.
PEOPLE WITH DISABILITIES:
If you need an accommodation to complete the application process, which may include an assessment, please email accommodations.hw@prudential.com .
Please note that the above email is solely for individuals with disabilities requesting an accommodation. If you are experiencing a technical issue with your application or an assessment, please email careers.technicalsupport@prudential.com to request assistance.
Contact Information
Email: at-jobfeeds+prudential@careercircle.com
The company is an equal opportunity employer and will consider all applications without regards to race, sex, age, color, religion, national origin, veteran status, disability, sexual orientation, gender identity, genetic information or any characteristic protected by law.
Hybrid