Analyst/Associate, Commercial Real Estate (CRE) Debt

PIMCO

Location: London, United Kingdom

Type: Permanent

Application Deadline: 2026-05-29

Job ID: 24317243

Employment Type: Full time

Compensation: Competitive

PIMCO is a global leader in active fixed income with deep expertise across public and private markets. We invest our clients' capital across a range of fixed income and credit opportunities, leveraging our decades of experience navigating complex debt markets. Our flexible capital base and deep relationships with issuers have helped us become one of the world's largest providers of traditional and nontraditional solutions for companies that need financing and investors who seek strong risk-adjusted returns.

Since 1971, our people have shaped our organization through a high-performance inclusive culture, in which we celebrate diverse thinking. We invest in our people and strive to imprint our CORE values of Collaboration, Openness, Responsibility, and Excellence. We believe each of us is here to help others succeed, which has led to PIMCO being recognized as an innovator, industry thought leader, and trusted advisor to our clients.

PIMCO is one of the world's largest real estate investors, with a $185B+ real estate platform. With over 15 years of alternatives experience, PIMCO combines the firm's investment discipline and unique sourcing capabilities with alternatives-specific talent and resources. PIMCO offers a diverse set of hedge fund, risk-premia, private credit, and real estate strategies that emanate from core PIMCO capabilities across global macro, quant, commodities, credit, and residential and commercial real estate markets.

This position will form part of PIMCO's European Real Estate Debt business, which currently employs approximately 10 investment professionals. The team is active in sourcing, underwriting, executing, and managing real estate debt transactions across Europe. Having deployed over €4 billion of real estate debt commitments to date, the team continues to invest across the capital structure and risk spectrum (senior, whole loan, mezzanine, development) and is able to evaluate all real estate asset classes.

We are seeking a Real Estate Debt Analyst or Associate to join our investment team. The successful candidate will play a crucial role in supporting the underwriting, analysis, execution, and management of real estate debt investments across all major European real estate sectors. This position offers an excellent opportunity to build a career at one of the leading alternative lenders in the European real estate debt market, while gaining exposure to a broad spectrum of transactions and markets in a fast-paced and collaborative environment.

Key responsibilities:

Support the team in reviewing investment opportunities and screening potential transactions

Conduct thorough financial modelling and analysis of potential real estate debt investments

Evaluate cash flow projections and key credit metrics

Prepare investment memos for presentation to PIMCO investment committees

Assist with due diligence, including the review of business plans and coordination of legal, technical, valuation, and other workstreams

Conduct market research to identify risks, trends, and opportunities within European real estate markets

Work closely with other team members to support the overall investment strategy, participate in team meetings, and contribute to strategic discussions

Requirements:

University degree in Mathematics, Finance, Economics, Real Estate, or Engineering from a top-tier institution

Strong analytical skills with high proficiency in financial modelling

At least 1 year of relevant experience within real estate (e.g., real estate finance, real estate investments, M&A / investment banking, corporate finance, real estate advisory, surveying, consulting, etc.)

Strong work ethic and integrity: the candidate should be a team player who is proactive, self-motivated, and has a deep intellectual curiosity and desire to learn in a fast-paced environment

Excellent analytical, interpersonal, communication, and writing skills

Ability to prioritize and meet multiple deadlines

Additional European languages are a plus

Equal Employment Opportunity and Affirmative Action Statement

PIMCO recruits and hires qualified candidates without regard to race, national origin, ancestry, religion (including religious dress and grooming practices), sex (including pregnancy, childbirth, breastfeeding, or related medical conditions), sexual orientation, gender (including gender identity and expression), age, military or veteran status, disability (physical or mental), any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial, and municipal laws.

The company also prohibits discrimination on other basis such as medical condition or marital status under applicable laws.

Applicants with Disabilities

PIMCO is an Equal Employment Opportunity/Affirmative Action employer. We provide reasonable accommodation for qualified individuals with disabilities, including veterans, in job application procedures. If you have any difficulty using our online system due to a disability and you would like to request an accommodation, you may contact us at 949-720-7744 and leave a message. This is a dedicated line designed exclusively to assist job seekers with disabilities to apply online. Only messages left for this purpose will be considered. A response to your request may take up to two business days.

#s1-Gen

PIMCO is a global leader in active fixed income with deep expertise across public and private markets. We invest our clients' capital across a range of fixed income and credit opportunities, leveraging our decades of experience navigating complex debt markets. Our flexible capital base and deep relationships with issuers have helped us become one of the world's largest providers of traditional and nontraditional solutions for companies that need financing and investors who seek strong risk-adjusted returns. Since 1971, our people have shaped our organization through a high-performance inclusive culture, in which we celebrate diverse thinking. We invest in our people and strive to imprint our CORE values of Collaboration, Openness, Responsibility and Excellence. We believe each of us is here to help others succeed and this has led to PIMCO being recognized as an innovator, industry thought leader and trusted advisor to our clients. PIMCO is one of the world's largest real estate
investors, with a $185B+ real estate platform. With over 15 years of alternatives experience, PIMCO combines the firm's investment discipline and unique sourcing capabilities with alternatives-specific talent and resources. PIMCO offers a diverse set of hedge fund, risk-premia, private credit, and real estate strategies that emanate from core PIMCO capabilities across global macro, quant, commodities, credit, and residential and commercial real estate markets. This position will form part of PIMCO's European Real Estate Debt business, which currently employs c. 10 investment professionals. The team is active in sourcing, underwriting, executing, and managing real estate debt transactions across Europe. Having deployed €4B+ of real estate debt commitments to date, the team continues to invest across the capital structure and risk spectrum (senior, whole loan, mezzanine, development) and is able to evaluate all real estate asset classes. We are seeking a Real Estate Debt Analyst or
Associate to join our investment team. The successful candidate will play a crucial role in supporting the underwriting, analysis, execution, and management of real estate debt investments across all major European real estate sectors. This position offers an excellent opportunity to build a career at one of the leading alternative lenders in the European real estate debt market, while gaining exposure to a broad spectrum of transactions and markets in a fast-paced and collaborative environment. Key responsibilities: Support the team in reviewing investment opportunities and screening potential transactions Conduct thorough financial modelling and analysis of potential real estate debt investments Evaluate cash flow projections and key credit metrics Prepare investment memos for presentation to PIMCO investment committees Assist with due diligence, including the review of business plans and coordination of legal, technical, valuation, and other workstreams Conduct market research
to identify risks, trends, and opportunities within European real estate markets Work closely with other team members to support the overall investment strategy, participate in team meetings, and contribute to strategic discussions Requirements: University degree in Mathematics, Finance, Economics, Real Estate, or Engineering from a top-tier institution Strong analytical skills with high proficiency in financial modelling At least 1 year of relevant experience within real estate (e.g., real estate finance, real estate investments, M&A / investment banking, corporate finance, real estate advisory, surveying, consulting, etc.) Strong work ethic and integrity: the candidate should be a team player who is proactive, self-motivated, and has a deep intellectual curiosity and desire to learn in a fast-paced environment Excellent analytical, interpersonal, communication, and writing skills Ability to prioritize and meet multiple deadlines Additional European languages are
a plus Equal Employment Opportunity and Affirmative Action Statement PIMCO recruits and hires qualified candidates without regard to race, national origin, ancestry, religion (including religious dress and grooming practices), sex (including pregnancy, childbirth, breastfeeding, or related medical conditions), sexual orientation, gender (including gender identity and expression), age, military or veteran status, disability (physical or mental), any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other basis such as medical condition, or marital status under applicable laws. Applicants with Disabilities PIMCO is an Equal Employment Opportunity/Affirmative Action employer. We provide reasonable accommodation for qualified individuals with
disabilities, including veterans, in job application procedures. If you have any difficulty using our online system due to a disability and you would like to request an accommodation, you may contact us at 949-720-7744 and leave a message. This is a dedicated line designed exclusively to assist job seekers with disabilities to apply online. Only messages left for this purpose will be considered. A response to your request may take up to two business days.

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