Analyst, CRE Construction Lending
3 days ago
New York
ABOUT CLEARWATER 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. SUMMARY Clearwater PACE is seeking an Analyst or Associate (“Analyst/Associate”) to support the Originations team across sourcing, underwriting, transaction execution, and market development. This role is ideal for a highly motivated real estate finance professional looking to build deep expertise in commercial real estate credit, construction lending, and structured finance. The Analyst/Associate will collaborate closely with senior originators, assisting with outreach, screening prospective opportunities, preparing quotes and term sheets, conducting financial and market analysis, and supporting the full diligence and closing process. The role requires strong analytical skills, attention to detail, a proactive mindset, and the ability to manage multiple workstreams in a fast-paced environment. This is a high-visibility position within a growing platform. The Analyst/Associate will participate in internal and external meetings, engage with sponsors, brokers, and municipal C-PACE program administrators, and contribute directly to Clearwater’s market intelligence, pipeline development, and origination strategy. KEY RESPONSIBILITIES Origination & Market Outreach • Support outbound outreach to sponsors, developers, brokers, and intermediaries to generate new meetings., • Participate in introductory and discovery calls to assess project fit., • Assist senior originators with outreach campaigns and follow-ups., • Coordinate with Marketing to deploy materials and digital campaigns., • Maintain consistent communication with market participants to strengthen sourcing channels. Credit Underwriting • Review budgets, proformas, sources and uses, schedules, and feasibility., • Assist with underwriting, financial modeling, scenario analysis, and sensitivities., • Evaluate eligible energy measures and alignment with C-PACE requirements., • Draft credit memos with written analysis of merits, risks, and structural considerations., • Prepare quotes, term sheets, and internal materials., • Participate in diligence calls and document key takeaways. Deal Execution & Closing • Review construction contracts, schedules of values, change orders, and cost-to-complete assessments., • Support analysis of GCs and subcontractors, including capabilities and performance history., • Assist with fund-control coordination, inspection cadence, and draw processes., • Support senior-lender consent and intercreditor discussions., • Coordinate with borrowers, contractors, consultants, program administrators, and legal through closing., • Track execution risks, including permitting, redesign, and long-lead time items. Pipeline & CRM Management • Maintain accurate CRM updates on outreach, calls, meetings, and deal activity., • Prepare weekly pipeline reports, outbound summaries, and market updates., • Track competitive activity, market trends, and C-PACE program changes across jurisdictions., • Assist in identifying target markets, asset types, and sponsors aligned with Clearwater’s origination strategy. QUALIFICATIONS & EXPERIENCE • Bachelor’s degree required. Concentration in finance, real estate, economics, engineering, or a related field strongly preferred., • 1–5 years of experience in commercial real estate finance, lending, credit, or investment banking., • Strong proficiency in Excel financial modeling, underwriting, and quantitative analysis., • Ability to evaluate construction budgets, development proformas, and project-level financial statements is a plus., • Excellent written and verbal communication skills; ability to prepare polished materials for internal and external use., • Highly organized with the ability to manage multiple concurrent workstreams and deadlines., • Self-starter with strong initiative, intellectual curiosity, and a desire to develop deep domain expertise in C-PACE and structured real estate credit., • CRM experience preferred (HubSpot, Salesforce, or equivalent). COMPENSATION & BENEFITS Clearwater offers a highly competitive compensation package that includes a base salary and an annual performance bonus. Compensation is commensurate with experience and aligned with market benchmarks for this role. The firm offers a comprehensive benefits suite, including health, dental, and vision coverage, along with 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.