PGIM: 2027 Real Estate, Sophomore Externship Program

About the role

PGIM will host a 3-day sophomore externship from January 5–7, 2027 at Prudential’s Newark, NJ headquarters for students graduating between December 2028 and May 2029. Transportation and lodging will be provided to selected participants. Externs will engage in training, case studies, job shadowing, and networking, with the opportunity to interview for a paid 10-week summer 2028 internship upon completion.

Program Overview

The externship showcases three areas across PGIM Real Estate’s platform:

• Equity: Asset Management & Transactions
• Debt – Originations
• Debt – Agency

Equity: Asset Management & Transactions

• Learn how teams evaluate new opportunities and manage assets across property types and risk profiles.
• Acquisitions (Transactions): Support sourcing, underwriting, financial modeling, and due diligence for new acquisitions and developments, including cash flow and waterfall models, sensitivity analyses, rent roll reviews, comparable property analysis, and investment evaluation materials.
• Asset Management: Collaborate with partners, property managers, and leasing brokers to oversee operating assets, development projects, and repositioning strategies; monitor performance and execute leasing, operational, financing, and disposition strategies.

Debt – Originations

• Learn how teams assess commercial real estate loan opportunities and move transactions through due diligence and closing.
• Support market research, credit analysis, property valuation, cash flow modeling, Argus modeling, and sensitivity analysis.
• Assist with due diligence and closing materials while coordinating with internal teams and external partners.

Debt – Agency

• Learn about opportunities within Underwriting and Portfolio or Deal Management for multifamily real estate financing through Fannie Mae, Freddie Mac, and FHA.
• Underwriting: Analyze potential loans, coordinate due diligence, assess cash flow assumptions and market data, and prepare investment packages for credit approval.
• Portfolio or Deal Management: Support credit officers and origination teams throughout the deal lifecycle, including policies, procedures, production goals, and loan submission materials; perform market research, due diligence tracking, financial modeling, property valuation, and borrower credit assessment.

Requirements

• Enrolled in an accredited bachelor’s degree program, graduating between December 2028 and May 2029.
• All majors welcome; demonstrated interest in commercial real estate.
• Minimum GPA of 3.0 required.
• Prudential does not provide visa sponsorship for this program; candidates must possess requisite US employment authorization.