VP, REIT Tax Director at Prudential
Posted in Real Estate 30+ days ago.
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Location: Madison, New Jersey
PGIM Real Estate is the real estate investment business of PGIM, Inc., the global investment management businesses of Prudential Financial, Inc. (NYSE: PRU). Redefining the real estate investing landscape since 1970, PGIM Real Estate has professionals in 18 cities in the Americas, Europe and Asia Pacific with deep local knowledge and expertise, and gross assets under management of $67.3 billion ($49.2 billion net) as of June 30, 2017.
PGIM Real Estate is seeking a US REIT Tax Director, reporting to the Global Head of Business and Investment Operations. This individual will partner with senior US-based investment staff and have overall responsibility for supporting PGIM Real Estate’s US business on all matters relating to US REIT tax laws.
The position may be based in either New York, NY or Madison, NJ. If the individual is based in New York, NY they must spend a minimum of two days per week in Madison, NJ.
Duties & Responsibilities:
- Oversee and direct the REIT tax function for PGIM Real Estate’s US business including oversight of one direct report
- Conduct tax planning for all US investment funds which are structured as REIT’s
- Provide oversight of the REIT testing process undertaken by our fund operations group and in conjunction with external advisors
- Consult with the portfolio management, asset management and transactions teams on REIT structuring on acquisitions and dispositions
- Provide strategic advice on the operating of the portfolios within the construct of a REIT
- Act as clearinghouse for all REIT tax decisions to ensure consistency across funds
- Coordinate REIT tax training and instruction for PGIM Real Estate’s US-based investment professionals and support functions
- Assist in management of outside vendors such as REIT legal counsel and tax advisors
- Coordinate with internal legal counsel to address REIT questions pertaining to investment agreements and other legal documents
- Partner with Prudential corporate and external tax advisors regarding REIT and related tax issues
- Consult with portfolio management teams, legal counsel and tax advisors on inbound tax structuring for US funds
- Assist in creation of marketing materials related to tax matters of the funds
- Speak to investors and their advisors about the tax characteristics of the funds and assist in tax due diligence of the funds
- Assist in the structuring of inbound feeders, corporate blockers and other legal structures for the tax efficient investing into PGIM Real Estate funds
- Work with advisors on managing the appropriate withholding to be done on distributions to taxable US and international investors in the US business’ funds
- Bachelor’s degree in accounting or related field is required; Master’s degree or JD strongly preferred
- Minimum of 10 years work experience with at least 6 years serving as an attorney, tax accountant or tax advisor for REIT’s within a large US REIT or third-party service provider; experience in structuring real estate funds and transactions strongly preferred
- Strong familiarity with US tax laws and REIT rules and their application in practice is required
- Solid understanding of accounting rules, particularly around REIT matters
- Strong interpersonal skills with the demonstrated ability to work effectively with senior real estate investment professionals
- Must be a self-starter, with the ability to prioritize competing initiatives; ability to work both independently and within a team
- Strong executive presence and communication skills with the ability to succinctly describe complicated tax rules and structures in a way that makes sense to non-tax professionals