Director, Debt Capital Markets

Overview

This role owns the debt strategy behind a multifamily portfolio entering a new buying cycle. Debt is the biggest lever in real estate, influencing asset decisions and how capital is returned to investors through refinancing. The position is hands-on and execution-focused, translating a downside-first approach into financing decisions across acquisitions, buy-and-hold periods, and refinances.

Fully remote.

Responsibilities

• Own debt strategy across the multifamily portfolio, structuring every acquisition and refinance around long-term fixed-rate debt and evaluating options based on total lifetime cost and risk
• Prioritize asset protection over proceeds by sizing leverage conservatively and stress-testing loans against rate, occupancy, and exit scenarios before commitment
• Run competitive financing processes on every acquisition and refinance by bidding deals to multiple lenders across Fannie Mae, Freddie Mac, HUD, life companies, banks, and CMBS
• Prepare financing packages and lender presentations that clearly explain each asset, its business plan, and operating track record
• Negotiate term sheets, loan documents, and closing conditions alongside legal counsel, including prepayment terms, reserves, recourse carve-outs, and covenants
• Build and maintain a deep bench of qualified guarantors so net worth and liquidity requirements never delay or derail transactions
• Maintain a portfolio-wide calendar of maturities, rate cap expirations, covenants, extension options, and prepayment terms; report to leadership on a regular cadence
• Initiate every refinance 12 to 24 months ahead of maturity to negotiate from strength rather than necessity
• Monitor covenant compliance and performance tests (including DSCR and debt yield tests), reserve requirements, and lender reporting obligations; escalate risks early with clear corrective plans
• Structure supplemental loans, preferred equity, mezzanine, and portfolio-wide credit facilities to unlock value and return capital to investors without adding risk to investor equity
• Identify and develop new sources of capital by expanding lender relationships and lowering the cost of capital across the platform
• Partner with asset management and property management to improve operating performance and earn better loan terms and larger proceeds
• Partner with acquisitions to pressure-test underwriting assumptions, debt sizing, and capital structure on new deals
• Track rate markets, spreads, lender appetite, and agency program changes; translate market intelligence into timely recommendations
• Leverage AI tools and modern analytics to streamline debt tracking, scenario modeling, and lender reporting

Requirements

• 7 to 10 years of multifamily debt experience, ideally in capital markets at an owner-operator role or as an originator at an agency lender or leading debt brokerage
• Direct, hands-on execution experience with Fannie Mae and Freddie Mac debt, with meaningful exposure to HUD, life company, bank, and CMBS financing
• Experience through the 2022-23 rate shock and the ability to apply a conservative, downside-first approach to leverage
• Strong command of loan structuring, including fixed versus floating rate tradeoffs, rate caps and hedging, defeasance, yield maintenance, step-down prepayment structures, and extension risk
• Proven experience running competitive lender processes and negotiating term sheets and loan documents
• Experience executing supplemental loans, preferred equity, mezzanine, and portfolio or credit facility structures
• Working knowledge of guarantor requirements, including key principal net worth and liquidity tests and non-recourse carve-out obligations, with experience sourcing or managing guarantor relationships
• Strong Excel and real estate financial modeling skills, including debt sizing, DSCR and debt yield analysis, sensitivity analysis, and refinance scenario planning
• Fluency in property-level financials (e.g., T12s, rent rolls, and business plan tracking) and how operating performance affects loan terms and proceeds
• Experience managing maturity, covenant, and compliance calendars across a multi-asset loan portfolio
• Deep, active relationships across agency lenders, debt brokers, life companies, banks, and CMBS lenders, with strong market intelligence on spreads, lender appetite, and program changes
• AI-fluent and able to use tools such as Claude, ChatGPT, and modern data platforms to increase speed and accuracy
• Hands-on builder who personally executes deals (not an advisor/consultant who recommends remotely)
• High energy and persistence, with strong relationship skills and the ability to walk away from a bad structure
• Owner’s mindset and readiness to build long-term
• Bachelor’s degree in finance, real estate, economics, or a related field preferred

Preferred Qualifications

• CFA, CCIM, or advanced real estate finance training
• Demonstrated alignment with a mission-driven, disciplined stewardship approach to investor capital

Compensation & Benefits

• Base salary: Commensurate with experience and market standards
• Opportunity for performance-based bonus and/or equity in deals and funds
• Comprehensive health, dental, and vision insurance
• 401(k) with company matching
• Fully remote work environment

Employment Eligibility Requirements

• Applicants will be required to pass a background check and credit check prior to their first day
• Applicants will also be required to execute a comprehensive confidentiality and non-disclosure agreement prior to start