CLEARWATER PACE · 1 week ago
Director, Originations
NYC Metro Area
Full-time
Hybrid
Mid, Senior Level
7+ years expClearwater PACE is a New York–based direct lender providing C-PACE financing across all commercial real estate asset types. They are seeking a senior investment professional to join the Originations team as a Director, responsible for sourcing, underwriting, and executing C-PACE transactions and managing client relationships in the market.
Commercial Real EstateFinance
Responsibilities
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, and self-storage
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
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
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
Provide mentorship, coaching, and technical guidance to junior originators, analysts, and cross-functional colleagues
Contribute to the continued build-out of Clearwater’s origination framework, credit processes, and market strategy
Uphold a high-accountability execution culture with disciplined communication, follow-through, and cross-team collaboration
Qualification
Required
7-10 years of experience in CRE lending with a strong preference for experience with new construction, redevelopment, and structured finance supported by documented production track record
Demonstrated expertise 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, ESOs, 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
Preferred
BA or MSRE with real estate focus preferred
Knowledge of energy-efficiency finance, renewable energy, and sustainability policy preferred
Benefits
Health, dental, and vision coverage
401(k) retirement plan
Company
CLEARWATER PACE
Clearwater PACE (“Clearwater”) is a direct, institutionally capitalized lender providing Commercial Property Assessed Clean Energy (C-PACE) financing nationwide, across all asset classes and markets.
11-50 employees
Funding
Current Stage
Early StageTotal Funding
unknown2024-02-22Acquired
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