PGIM Real Estate Investment Associate

PGIM Real Estate — the real estate investment arm of PGIM, the global asset management business of Prudential Financial (NYSE: PRU), with $207.9 billion in gross assets under management and administration ($133.8 billion net) — is hiring an Investment Associate for its Debt Originations team in Los Angeles, CA. The role supports higher-yielding bridge, construction, mezzanine, and preferred equity transactions across commercial real estate property types.

Responsibilities include analyzing and underwriting CRE debt investment opportunities; building cash flow models, Argus models, sensitivity tables, rent roll analyses, and waterfall models; preparing Investment Committee memoranda through market research, risk analysis, and credit-factor review; assessing economic, market, legal, and political conditions across an investment geography; and assisting senior professionals with due diligence and closing in coordination with the portfolio management team. The associate will also assist with loan-level financings, appraisal reviews, and coordination with the debt originations, real estate transactions, portfolio management, and loan servicing groups.

Candidates need a bachelor's degree in Finance, Real Estate, or a related discipline and at least 3 years of commercial real estate experience, along with a working understanding of net/gross leases, operating expenses, cap rates, IRR, and discounted cash flow analysis. Advanced Excel skills are required, and Argus Enterprise proficiency plus prior mezzanine, preferred-equity, or construction-financing experience are considered a plus. The position follows a hybrid schedule requiring 3-4 days per week in the office.

PGIM Real Estate operates across 32 cities globally, backed by a 50-year legacy of commercial real estate investing and a 140-year history in real estate financing, spanning equity, debt, agriculture, and impact strategies. The disclosed base salary range for this role is $135,000-$145,000, with eligibility for an annual bonus, a 401(k) plan with company match up to 4%, a company-funded pension plan, medical/dental/vision coverage, wellness program reimbursement of up to $1,600/year, and an employee stock purchase plan offering shares at 85% of the lower of two prices.