SENIOR CONSTRUCTION ASSET MANAGER – INTERNATIONAL PORTFOLIO
As one of the largest real estate managers in the world with $179.2 billion in gross assets under management and administration1, PGIM Real Estate strives to deliver exceptional outcomes for investors and borrowers through a range of real estate equity and debt solutions across the risk-return spectrum. PGIM Real Estate is a business of PGIM, the $1.3 trillion global asset management business of Prudential Financial, Inc. (NYSE: PRU).
PGIM Real Estate’s rigorous risk management, seamless execution, and extensive industry insights are backed by a 50-year legacy of investing in commercial real estate, a 140-year history of real estate financing 2, and the deep local expertise of professionals in 31 cities globally. Through its investment, financing, asset management, and talent management approach, PGIM Real Estate engages in practices that ignite positive environmental and social impact, while pursuing activities that strengthen communities around the world. For more information visit www.pgimrealestate.com
PGIM Real Estate Loan Services is a subsidiary of PGIM Real Estate and one of the largest commercial and multifamily mortgage servicing firms in the United States. PGIM Real Estate Loan Services manages a wide variety of mortgage investments that includes Prudential’s General Account, CMBS, Fannie Mae, Freddie Mac and FHA loans. The Company is a rated Primary, Master, and Special Servicer. PGIM Real Estate is one of the nation’s largest full-service commercial, multi-family and agricultural real estate lenders and has been serving the commercial real estate market for over 125 years.
PGIM Real Estate Loan Services is seeking a Senior Construction Asset Manager for its International Portfolio. This position will be located in Ireland, the UK or the US. Strong communication skills are essential as the candidate will interact daily with borrowers, business partners, and third parties around the globe during a pivotal point of growth for the portfolio. The successful candidate will work under the direction of a Team Manager and be expected to develop proficiency over time to independently manage a complex portfolio of commercial mortgage loans across multiple currencies and product types. The candidate is to provide superior customer service while working under tight deadlines and creating efficiencies when possible. The candidate must promote trust with all stakeholders, be energetic and have an ownership mindset of the assigned portfolio
Key Job Responsibilities
- Construction Monitoring: The candidate will be responsible for monitoring a complex portfolio of global commercial construction development projects both new build and refurbishment. Monitoring includes tracking development budgets, reviewing project monitor reports, processing construction draws, and providing risk assessments/development updates. The position will communicate with portfolio management, originators, developers, project monitors and others as the direct point of contact for the assigned portfolio. The mortgage portfolio consists of complex loan structures, multiple currencies, and property types including PRS, industrial, office, hotel, and retail. The candidate will require a technical understanding of construction development to recognize high risk project concerns, mitigate risk by problem solving with urgency, and communicate to our development partners as a knowledgeable construction representative for PGIM Real Estate.
- Credit Actions: Under the supervision of a Team Manager and in collaboration with financial analysts, perform cash flow analysis, market surveys, document review and other due diligence necessary to produce prompt and concisely written credit recommendations for complex borrower requests. Transactions involve varied debt [and preferred equity structures], different property types, and include investments located across Europe, Australia, and Canada with concentration in UK and Netherlands. Transactions may include modifications, partial releases, major lease approvals, easements, reserve/draw disbursements, and insurance losses. The candidate must have excellent writing and time management skills, be detail oriented and focused on accuracy.
- Triggers: Ensure loan compliance is managed proactively including the initial onboarding/entry of loan requirements and the ongoing monitoring.
- Watchlist: Update watchlist information, proactively monitor property performance, provide written analysis identifying key trends and issues noting any corresponding mitigants and concisely communicate/present relevant issues, remedies and mitigants with executive management.
- Operational Efficiency and Collaboration: Build synergies with both internal and external groups located around the globe such as originations, portfolio management, legal, compliance, loan servicing, financial analysts, accounting, and third‐party vendors to create efficiencies and transparency. Take initiative to continually improve the integrity of portfolio information and standardize reporting while ensuring the highest quality credit action recommendations and watchlists. Proactively identify and lead implementation of innovative and practical solutions. Treat talent as a strategic differentiator and be personally invested in the success of others. Share talent to effectively mobilize resources to achieve intended results. Continually develop knowledge and skills (including mentor and coaching others) that positively impact performance.
Qualifications and Candidate Requirements
- Bachelor’s degree in Real Estate, Construction, Finance, or a related field with at least 5 years commercial real estate or finance experience.
- Prior experience with large scale commercial developments, construction monitoring, and a solid understanding of commercial real estate finance is required. Experience of European or Australian project monitoring is strongly preferred.
- Exposure to loan documents of varying complexity is preferred.
- Candidates with experience in non-lending areas of commercial real estate such as quantity surveyors, valuations and asset management will be considered.
- Superior written and verbal communication skills are required.
- Superior analytical and problem‐solving skills are required.
- Strong interpersonal/customer service skills are essential along with the ability to build and maintain relationships with internal and external parties in other countries.
- Strong organizational skills are required with the ability to appropriately prioritize, multi‐task, work both independently and collaboratively in a time sensitive environment where meeting established deadlines is critical.
- Self‐starter/motivated and detail oriented.
- Personal Computer Skills (Office 365, proprietary databases, and document sharing portals).
- Ability to travel internationally.
Pramerica is proud to be an equal opportunity employer and is committed to equal employment opportunity regardless of applicants’ gender, civil status, family status, sexual orientation, religion, age, disability, race or membership of the traveler community. Pramerica’s aim is to hire the best people for the open roles and all appointments will be made on merit.
Any offer of employment made by Pramerica will be contingent on receiving satisfactory references. Applicants should be aware that background checks will be carried out on all candidates offered a position within Pramerica.
Pramerica has been awarded the IBEC Keep Well Accreditation Mark, this is in recognition of our commitment to making our employees wellbeing a priority.
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