Managing Director, Real Estate Lending
$180,562–$223,625 year
On-siteNew York City, New York, United States or New York, United States
Job Summary
Originate, underwrite, structure, negotiate, close, and monitor commercial and residential real estate debt transactions for affordable multifamily housing and community facilities. Design financing structures to overcome investment barriers in disadvantaged communities and build co-financing relationships with commercial banks, CDFIs, and public agencies. Lead comprehensive credit analysis, prepare memoranda for Investment and Risk Committee approval, and manage transaction teams through closing. Oversee portfolio performance, enforce covenant compliance, and mitigate risk on existing loans while tracking industry trends and regulatory changes. Mentor VPs, Associates, and Analysts to foster a high-performance culture. Report to the Managing Director and Head of Community Development Investment Group, with the position located in New York City and requiring 10% to 20% travel.
Required Qualifications
- Bachelor's degree
- At least 10 years of progressively responsible experience originating, underwriting, structuring, closing, and managing commercial real estate debt transactions
- Meaningful experience in affordable housing finance
- Meaningful experience in community development lending
- Meaningful experience in community facilities finance
- 5 years of experience in a supervisory role coaching senior and junior staff
- Experience managing multiple concurrent projects
- Experience driving deals to closing under tight deadlines
- Demonstrated experience leading transactions from initial sourcing through closing and ongoing portfolio management
- Demonstrated experience structuring and closing commercial real estate debt transactions
- Experience with LIHTC financing
- Experience with NMTC financing
- Experience with HTC financing
- Experience with C-PACE financing
- Experience with public subsidies
- Experience with comparable credit enhancement programs
- Demonstrated experience originating transactions
- Experience developing relationships with borrowers
- Experience developing relationships with developers
- Experience developing relationships with sponsors
- Experience developing relationships with CDFIs
- Experience developing relationships with commercial lenders
- Experience developing relationships with public-sector financing partners
- Experience presenting and defending credit recommendations before credit committees
- Experience presenting and defending credit recommendations before investment committees
- Experience presenting and defending credit recommendations before loan committees
- Experience presenting and defending credit recommendations before similar decision-making bodies
- Extensive experience with financial modeling
- Ability to oversee rigorous due diligence
- Ability to perform sensitivity analyses
- Excellent written communication skills
- Excellent oral communication skills
- Comfortable presenting complex concepts to credit committees
- Self starter
- "Closer" mindset
- High work ethic
- Adaptability to a fastmoving environment
- Ability to collaborate across multiple teams
- 10% - 20% travel
Desired Qualifications
- Master of Business Administration (MBA)
- At least 10 years of experience in commercial real estate lending
- At least 10 years of experience in affordable housing finance
- At least 10 years of experience in community facility lending
- Experience in underwriting
- Experience in cashflow modeling
- Experience in transaction execution
- Experience in restructurings
- 5 years of experience in a supervisory role
- Experience leveraging Low Income Housing Tax Credits (LIHTC)
- Experience leveraging New Markets Tax Credits (NMTC)
- Experience leveraging Opportunity Zone credits
- Experience leveraging Commercial Property-Assessed Clean Energy (CPACE) financing
- Experience with other state and local incentive and subsidy programs
- Familiarity with New York State affordable housing programs
- Familiarity with New York City affordable housing programs
- Familiarity with housing finance agencies
- Familiarity with community development finance
- Familiarity with New York regulatory environments
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