Real Estate Finance & Investment Specialist (Underwriting & Transaction Management)

Join The Community Preservation Corporation (CPC) Building Innovation team to support the launch of a High-Performance Housing Fund and a new predevelopment lending program through underwriting, diligence, and transaction pipeline management for affordable and workforce housing.

Responsibilities

• Coordinate predevelopment financing applications, partnering with consultants, borrowers, and CPC staff to compile required financial, technical, and program documentation.
• Own assigned transactions and workstreams, including application screening, eligibility and financial-feasibility analyses, stakeholder coordination, deliverable tracking, and next-step execution.
• Structure and evaluate financing approaches supporting energy efficiency, utility efficiency, and natural hazard resilience improvements.
• Manage underwriting and due diligence for predevelopment and subordinate loans from origination through closing, coordinating internal CPC teams, borrowers, legal counsel, consultants, and third-party vendors.
• Perform credit and feasibility analysis using historical operations, rent rolls, market conditions, development budgets, and financing assumptions to assess cash flow, debt capacity, transaction feasibility, and credit risk.
• Underwrite preferred equity investments, evaluating capital structure, distribution waterfalls, sponsor economics, projected returns, exit and refinancing assumptions, and downside protection.
• Build and review Excel-based financial models, including operating projections, debt sizing, sources and uses, investment returns, and sensitivity and downside analysis.
• Conduct site inspections and review third-party reports, including appraisal, engineering, environmental, zoning, flood, title, and insurance materials to identify property-level risks.
• Assess borrower and sponsor creditworthiness through financial statement analysis, liquidity, credit history, organizational structure, experience, and real estate holdings.
• Prepare underwriting and investment memoranda and present material risks and recommendations to CPC Credit and Investment Committees.
• Identify and communicate material credit, execution, and closing risks and recommend solutions.
• Maintain due diligence checklists and application schedules, monitor deliverables, resolve information gaps, and support complete, timely submissions.
• Maintain visibility into the Climate Lending & Investing transaction pipeline and progress opportunities through screening, evaluation, underwriting, approval, documentation, legal review, and closing.
• Review borrower reporting and portfolio information to identify emerging issues and coordinate appropriate follow-up or escalation with internal and external stakeholders.
• Perform other related duties as assigned.

Requirements

• Bachelor’s or Master’s degree in Finance, Economics, Urban Planning, Real Estate, or other related field (preferred).
• 5 years of experience in multifamily real estate underwriting, equity investment analysis, or structured finance (preferred).
• Proactive self-starter with demonstrated ability to anticipate needs and advance work independently.
• Strong sense of ownership and accountability, with a track record of driving projects forward.
• Collaborative, relationship-driven approach with willingness to engage colleagues and external partners directly.
• Comfort navigating ambiguity, exercising sound judgment, establishing priorities, and acting with incomplete information.
• Exceptional analytical, problem-solving, and organizational skills.
• Expertise in Microsoft Word, Excel, PowerPoint, and Adobe products, plus understanding of how to effectively deploy AI platforms and tools.
• Strong Excel financial modeling skills, including real estate cash flow modeling, debt sizing, investment returns, and sensitivity analyses (preferred).
• Knowledge of preferred equity and subordinate capital structures, including evaluation of returns, distribution waterfalls, sponsor economics, refinance and exit assumptions, and downside risk (preferred).
• Knowledge of HUD multifamily programs and/or Fannie Mae and Freddie Mac loan products is recommended.
• Familiarity with energy efficiency, renewable energy, and natural hazard resilience building measures (preferred).
• Effective written and oral communication skills.

Technologies

• Microsoft Word
• Microsoft Excel
• Microsoft PowerPoint
• Adobe products
• AI platforms and tools

Benefits

• Competitive compensation
• 401(k) retirement plans with employer match
• Medical, dental, and vision benefits for employees and their dependents
• Commuter benefits
• PTO for vacation, personal days, sick leave, holidays, jury duty, bereavement, parental leave, and disability
• Tuition assistance program
• Two “work from anywhere” weeks per year
• Summer Fridays
• Collaborative working spaces
• Service days to support communities
• Employee development and engagement events

Role summary

• Help shape affordable and workforce housing finance by supporting innovative lending and investment strategies for high-performance multifamily housing.
• Work closely with the Senior Director, Strategy & Credit Risk to support launch activities for the High-Performance Housing Fund and a predevelopment lending program for affordable housing projects incorporating natural hazard resilience and utility efficiency improvements.
• Combine real estate underwriting and financial analysis with transaction and pipeline management and cross-functional program support.
• Independently manage multiple workstreams, moving transactions from initial evaluation through underwriting, due diligence, closing, and ongoing monitoring.
• Support initial evaluation of proposed predevelopment and subordinate loans and preferred equity transactions for the credit review process in coordination with the Chief Risk Officer and/or CPC Credit and Investment Committees.
• Contribute to development of new financing solutions, expand market knowledge, and support growth of the affordable housing industry’s capacity for high-performance housing investments.

Location: New York, NY (hybrid) | Compensation: USD 90,000 - 110,000 per year | Experience: 5+ years