CRE Debt Asset Manager, VP

Overview

PIMCO invests in real estate debt opportunities through the flagship PIMCO Commercial Real Estate Debt Funds ("PCRED I" and “PCRED II”), closed-end funds focused on traditional bridge lending throughout the U.S. In addition to the PCRED funds, 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. Asset Management Senior Vice President will be a senior member of the team responsible to oversee and pro-actively manage a portfolio of CRE debt investments.

Key Responsibilities

• Assist in the ongoing and pro-active asset management of a portfolio of debt investments up and down the capital stack to maximize value and minimize risk
• Build and enhance asset management reporting, portfolio analytical activities, and stress testing
• Actively monitor key performance indicators, property and financial performance, market conditions, servicing and administration of project draws/fundings.
• Proactively identify any potential credit/market risks as well as proposed solutions associated with the investment
• Ability to interpret and negotiate loan document terms
• Proactively work with external partners including borrowers, attorneys, servicers, co-lenders, financing partners and third-party consultants
• Approve and oversee borrower execution of asset level business plans
• Provide detailed investment performance information to internal and external parties
• Perform property site inspections (travel where required)
• As needed, structure, underwrite and seek approval for loan modifications
• Manage collateral valuation/re-underwriting process
• Coordinate setup of loans internally and work closely with third party servicing team
• Assist in capital markets activities with existing and new leverage providers
• Mentor junior Associates
• Participate in credit process and assist in underwriting, review of borrower business plans, and transition activities to asset management.
• Assist in refining best-in-class asset management policies and procedures.

Qualifications

• 8 years real estate credit experience in underwriting, originating, asset management, or servicing fields, experience in non-performing loans or other types of distressed preferred
• Ability to handle large loans ($100 Million and above) with a focus on transitional, redevelopment and ground-up construction profiles.
• Exceptional analytical skills, financial modeling skills, proficiency in Argus, and strong writing abilities.
• Extensive experience in working with/negotiating/reviewing loan documents.
• Outstanding academic credentials and demonstrated leadership capabilities.
• Understanding of the legal structure, rights and motivations for co-lending and junior / senior (inter-creditor) structures.
• Strong work ethic and integrity; candidate should be a team player who is proactive and self-motivated. Must demonstrate ability to get along with and motivate others.
• Poised and articulate, well-refined communications skills – ability to analyze complex situations and articulate ideas and strategies clearly, both verbally and in writing.
• Proven experience/skills working across cross-functional teams (internal/external constituencies).
• Strong analytical skills and experience managing reporting and reviewing accounting functions.
• Driven, energetic, well-organized, good administrative skills, attention to detail.

Benefits

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