PenFed Credit Union · 1 week ago
Director, Commercial Real Estate Originations
Boston, MA
Full-time
Hybrid
Lead/Staff, Director/Executive
12+ years expPenFed Credit Union is expanding its commercial real estate lending platform and is seeking an experienced Director, Commercial Real Estate Originations. The individual will be responsible for evaluating, structuring, underwriting, and originating commercial real estate loans across multiple property types, ensuring sound credit decisions aligned with PenFed's policies and risk appetite.
BankingCreditFinanceFinancial ServicesLending
Responsibilities
Underwrite and analyze commercial real estate loans, including acquisition, refinance, bridge, and construction financing, typically ranging from $10 million to $75 million across multiple property types
Conduct comprehensive property-level and market due diligence including review of rent rolls, operating statements, appraisals, rent comparables, sale comparables, market fundamentals, property condition reports, environmental reports, and other 3rd party reports as necessary
Evaluate borrower financial capacity, collateral quality, market dynamics, and overall creditworthiness
Prepare detailed financial models to assess property and debt cash flows, loan sizing, pricing, debt metrics (Debt Yield, Debt Service Coverage, LTV), and sensitivity scenarios
Prepare clear and comprehensive investment memos and recommendations for internal investment committees and senior management
Perform property site visits and inspections as needed
Negotiate and structure loans with covenants, reserves, future funding commitments, and other structural protections to mitigate potential cash flow shortfalls and other risks
Assist with due diligence and overall transaction timelines ensuring transaction milestones and deadlines are met
Partner with the Closing and Servicing teams to ensure loan closings go smoothly
Stay informed of market trends, competitive dynamics, and regulatory changes impacting PenFed's CRE lending program and broader commercial real estate debt markets
Develop and manage relationships with brokerage firms, appraisers, owners, operators, and potential borrowers
Serve as the primary point of contact for borrowers in relation to new deal reviews
Qualification
Required
Equivalent combination of education and experience is considered
Education: Bachelor's degree in finance, Real Estate, Economics, or related field preferred
Experience: 12 years of total professional experience, with a minimum of 3 years in commercial real estate lending, debt asset management, or related credit. Experience with underwriting larger CRE loans ($10M+) that were directly originated is a plus
4 Yrs. of Direct Management Experience
Technical Skills: Strong financial modeling and Excel skills; experience with tools such as Argus (or similar real estate cash flow / value modeling tool) and CoStar preferred. Proficiency with Microsoft Applications (Word, Excel, PowerPoint, Access, Outlook) at a level that allows independent work
Communication: Excellent written, verbal, and presentation skills, with the ability to clearly articulate complex financial and real estate concepts
Analytical Skills: Strong analytical skills and ability to interpret financial statements, rent rolls, and other reports with ease
Execution-Oriented: Proven track record of executing transactions within tight timelines, meeting deal deadlines, proactively finding solutions to issues that arise during due diligence, and proactively escalating potential delays to closing
Detail-Oriented: Strong organizational skills and ability to manage multiple priorities
Preferred
Education: Bachelor's degree in finance, Real Estate, Economics, or related field preferred
Technical Skills: experience with tools such as Argus (or similar real estate cash flow / value modeling tool) and CoStar preferred
Benefits
Comprehensive health, dental, and vision plans
Paid time off
Paid parental leave
Care support
Fitness center access
401(k) match
Employee loan discounts
Fully paid life and disability coverage
Education assistance
Community involvement
Volunteer opportunities
Company
PenFed Credit Union
PenFed Credit Union offers banking services, loans, mortgages, and credit cards to individuals and small businesses.
1001-5000 employees
H1B Sponsorship
PenFed Credit Union has a track record of offering H1B sponsorships. Please note that this does not
guarantee sponsorship for this specific role. Below presents additional info for your
reference. (Data Powered by US Department of Labor)
Distribution of Different Job Fields Receiving Sponsorship
Represents job field similar to this job
Trends of Total Sponsorships
2025 (19)
2024 (20)
2023 (10)
2022 (21)
2021 (12)
2020 (11)
Funding
Current Stage
Late StageTotal Funding
$845.89M2025-09-22Debt Financing· $398.49M
2024-08-29Debt Financing· $447.4M
Leadership Team
Sarah Heintzman
Executive Vice President, CFO
Andrea McCarren
Senior Vice President & Chief Content Officer
Recent News
The Virginian-Pilot
2025-11-05
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