Director, CRE Originations

About Clearwater PACE Clearwater PACE, LLC (“Clearwater”) is a New York–based, institutionally backed direct lender providing C‑PACE financing nationwide across all commercial real estate asset types. Our capital supports ground‑up development, value‑add repositioning, adaptive reuse, and recapitalizations of recently completed projects. Led by seasoned real estate credit and structured finance professionals, Clearwater structures customized, credit‑driven financing aligned with sponsor objectives, supported by fully assumable loan features and flexible prepayment terms. When paired with more expensive senior or bridge debt, C‑PACE provides a cost‑effective source of capital that lowers WACC and strengthens the overall capital stack. We seek to hire the best and the brightest. Our team operates with autonomy, accountability, and a solutions‑oriented mindset, contributing directly to the growth of a high‑performance platform at the center of energy transition and structured‑credit innovation. Title Director or Managing Director (Director/MD) – Originations Team Summary The Director/MD will take ownership of sourcing, underwriting, and executing C‑PACE transactions across ground‑up developments, major redevelopments, adaptive‑reuse projects, energy‑efficiency retrofits, and recapitalizations. This is a full‑cycle mandate covering origination, capital‑stack structuring, senior‑lender consent coordination, and seamless execution alongside underwriting, legal, servicing, and capital markets teams. Candidates should bring a sophisticated command of construction budgets, fund‑control mechanics, draw sequencing, contractor diligence, and cost‑to‑complete analysis, given the role's construction‑heavy nature. The position requires a seasoned producer with an established network of developers, property owners, senior construction lenders, real estate capital advisors, and municipal partners. The Director/MD will represent Clearwater in the market, drive new business generation, expand coverage across high‑growth regions, and help strengthen Clearwater’s position as a leading institutional C‑PACE platform. Strong credit judgment, advanced financial modeling, and the ability to navigate intercreditor and execution dynamics are essential. This is an entrepreneurial, high‑autonomy seat within a fast‑scaling structured‑credit platform where performance and execution drive long‑term success. Key Responsibilities Origination Lead the origination and structuring of C‑PACE and complementary construction‑focused commercial credit products from initial inquiry through closing. Develop and maintain a robust self‑generated pipeline across development‑heavy asset classes, including but not limited to hospitality, multifamily, industrial, retail, self‑storage, and adaptive reuse projects. Position C‑PACE within complex capital stacks that include Senior Loans, Mezzanine Debt, Preferred Equity, EB‑5, Tax Credits, Grants, and other structured products. Serve as a market‑facing representative of Clearwater with Sponsors, Capital Advisors, and Lenders. Underwrite construction‑stage risk with fluency across GMP and cost‑plus contracts, budgets, schedules of values, change orders, contingency structures, long‑lead items, and cost‑to‑complete analysis. Evaluate general contractor qualifications, subcontractor strength, bonding capacity, and historical delivery performance. Interpret and validate development proformas, sources and uses, delivery timelines, and construction cash flows. Partner with senior construction lenders to align fund‑control mechanics, inspection cadence, draw timing, and lien‑release processes. Lead senior‑lender consent negotiations, including intercreditor mechanics, payment‑instructions protocol, cure periods, and standstill rights as they relate to construction workflows. Identify and de‑risk execution bottlenecks, including permitting, contractor turnover, material escalation, redesigns, and financing timing. Deal Structuring Architect C‑PACE solutions that integrate cleanly with active or planned construction, ensuring compliance with state program rules and internal credit standards. Work closely with underwriting, legal, servicing, and capital markets teams to structure transactions, validate assumptions, model sensitivities, and mitigate risk. Manage full execution from diligence through documentation, credit‑committee preparation, lender‑consent coordination, and closing. Maintain accurate and timely pipeline, correspondence, and reporting within Clearwater’s CRM platform. Relationship Management Expand Clearwater’s reach in targeted markets by building and maintaining relationships with developers, senior construction lenders, mortgage bankers, brokers, and capital intermediaries. Educate market participants on C‑PACE financing mechanics, including construction‑stage integration, retroactive PACE, A‑Note / B‑Note PACE, and recapitalization strategies. Monitor energy‑code changes, jurisdictional nuances, regulatory developments, and competitive dynamics to refine market approach and inform product strategy. Strengthen Clearwater’s brand through active participation in industry conferences, market events, and thought‑leadership platforms. Qualifications & Experience Minimum 10 years of experience in CRE construction lending, development finance, structured finance, or project finance with a strong and documented production track record. Demonstrated expertise in underwriting ground‑up development, heavy value‑add projects, adaptive reuse, and large‑scale retrofits. Deep technical knowledge of construction budgets, fund control, draw sequencing, lien‑law considerations, inspection processes, and contractor due diligence. Proven ability to originate, structure, negotiate, and close complex transactions involving senior lender consents and multi‑party capital stacks. Advanced proficiency in financial modeling, credit analysis, and scenario‑driven underwriting. Established network of developers, senior lenders, brokers, ESCOs, and capital advisors in core markets. Strong communication skills and executive presence suitable for institutional sponsors and capital partners. High level of organization and the ability to manage multiple live transactions in a fast‑paced environment. Bachelor’s degree required. MBA or MSRE with a real‑estate focus preferred. Knowledge of energy‑efficiency finance, renewable energy, and sustainability policy preferred. Compensation & Benefits Clearwater offers a highly competitive compensation package that includes a base salary and a performance‑based bonus. Compensation is commensurate with experience and aligned with market benchmarks for senior real‑estate investment professionals. The firm offers a comprehensive benefits suite, including health, dental, and vision coverage, as well as a 401(k) retirement plan. This role follows a hybrid schedule with flexibility based on responsibilities and business needs. EQUAL OPPORTUNITY EMPLOYER Clearwater is committed to a diverse, inclusive, and equitable workplace grounded in integrity, collaboration, and respect. We welcome applicants from all backgrounds and are proud to be an equal opportunity employer. Only candidates selected for further consideration will be contacted. #J-18808-Ljbffr