PGIM Real Estate - Vice President, Senior Housing Partners (San Francisco)
- San Francisco, CA
PGIM Real Estate is the global real estate investment business of Prudential Financial, Inc. (NYSE: PRU). Redefining the real estate investing landscape since 1970, PGIM Real Estate has professionals in 18 cities and gross assets under management of $70.9 billion ($50.4 billion net) as of September 30, 2019.
PGIM Real Estate's Senior Housing Group was formed in 1998 with a dedicated focus on the seniors housing industry. Utilizing its deep industry knowledge, experience, and strong lender relationships, the Senior Housing Group has successfully invested over $1 billion of equity capital over four investment funds, is currently investing its fifth dedicated senior housing fund, $629 million Senior Housing Partners V, and is actively raising its sixth fund with a target close date in early 2019.
PGIM Real Estate, the global real estate investment management business of Prudential Financial, Inc., is seeking a Vice President (VP) reporting to the Senior Portfolio Manager for the Senior Housing Partners (SHP) series of funds. This individual will be responsible for the growth, and success of the funds' Western US presence, including generation of new business opportunities, management of portfolio assets, underwriting and execution of investment opportunities, and a broad range of other responsibilities. The position will be in PGIM Real Estate's San Francisco, CA office, although the business has offices in multiple other US cities which could be considered for the right candidate.
Duties & Responsibilities:
- Cultivate and manage investment relationships with owners and operators of institutional-grade senior housing real estate, other investors, brokers, and intermediaries, primarily in the Western US.
- With the support of the transactions team, lead due diligence, acquisitions underwriting, deal structuring, and financing activities, of fund transactions.
- Review and negotiate documentation for transactions, interacting with partners, managers, lenders, attorneys as well as internal PGIM Real Estate functional support groups.
- Provide general asset management and strategic direction for a diversified portfolio of properties, including frequent contact with operating partners and community managers.
- Participate in investor relations and fundraising efforts, including presentations and discussions with current and potential fund investors and industry consultants.
- Participate in and help steer the funds' strategic plan and direction, including analyses of various investment decisions - acquisition; development; financing; hold/sell.
- Review both periodic portfolio and property level reports and track operating performance in the context of fund level portfolio management and reporting.
- Supervise, mentor, and train a team of junior team members in the execution of day to day duties in support of the above responsibilities and functions.
- Possess relevant relationships across the US real estate market; relevant senior housing experience strongly preferred.
- Experience in originating and executing individual and portfolio transactions directly and through joint venture partners.
- Understanding of risk management, portfolio diversification, and asset management.
- Strong quantitative skills and demonstrated analytical ability, including underwriting and financial analysis.
- Strong presentation, communication, negotiating, and business writing skills.
- Bachelor's degree required concentrated in Finance, Real Estate, or related field preferred.
- Minimum of 7 years of relevant real estate investment experience including relevant transactional work.
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