Associate, Underwriting & Transaction Management

Summary

Clearwater PACE ("Clearwater") seeks a detail-oriented and results-driven professional to join our team as an Underwriting and Transaction Management Associate. This role provides an opportunity to take ownership of deal execution, underwriting, and transaction management, which is critical in driving Clearwater PACE’s growth across key U.S. markets.

The ideal candidate will have experience structuring and closing commercial real estate debt transactions, particularly C-PACE financing, and possess a strong analytical skill set to evaluate complex deals. Responsibilities include managing a diverse pipeline, conducting due diligence, preparing credit analyses, and collaborating with originations, credit, legal, and asset management teams to ensure seamless execution.

Success in this role requires excellent organizational skills, the ability to work independently in a fast-paced environment, and strong client engagement capabilities. Candidates should be comfortable navigating underwriting challenges, structuring financing solutions, and working closely with borrowers, mortgage lenders, developers, and industry partners. If you are a proactive professional who thrives in transaction execution and wants to contribute to a growing platform, we encourage you to apply.

Key Responsibilities

Underwriting

• Underwrite and evaluate loan opportunities, structuring financing solutions that optimize C-PACE’s role within the capital stack.
• Prepare term sheets, credit memos, and financial analyses to support investment decisions.
• Leverage third-party data sources (e.g., CoStar, GreenStreet, RCA, Trepp) to validate market assumptions and assess transaction risks.
• Conduct due diligence, engage with third-party service providers, and synthesize appraisal data for deal viability.
• Review borrower organizational documents to ensure proper loan structuring and compliance with underwriting standards.
• Assist in credit approval presentations, troubleshooting underwriting challenges, and tracking exceptions.
• Provide training and mentorship to junior staff on underwriting best practices and due diligence procedures.

Transaction Management

• Manage a diverse pipeline of C-PACE transactions, prioritizing the key steps to drive deals forward.
• Serve as the primary liaison between originations, credit, legal, asset management, clients, and external partners to ensure smooth execution and timely closings.
• Engage with mortgage holders to secure consent where applicable.
• Oversee due diligence, reviewing title policies, environmental reports, financials, corporate documents, construction contracts, and appraisals.
• Support commercial clean energy contractors, building owners, and industry stakeholders while expanding market awareness of Clearwater.
• Lead the preparation of client presentations, investment summaries, and deal memos.
• Track underwriting criteria compliance, provide feedback during the sales process, and refine sizing and structuring strategies.
• Maintain accurate transaction records and closing checklists while assisting with post-closing activities such as construction draw requests and asset management.
• Foster strong client relationships, ensuring a seamless experience and reinforcing Clearwater’s position as a trusted financing partner.

Qualifications & Experience

• Bachelor’s degree in finance, real estate, or a related field (MBA/MSRE preferred).
• 3-5 years in commercial real estate lending, with a proven track record in originating, structuring, and closing debt transactions.
• Strong credit mindset with underwriting, risk assessment, and financial modeling expertise.
• Ability to develop creative deal structures tailored to client needs.
• Established industry network, including borrowers, mortgage brokers, & capital markets investment professionals.
• Excellent communication skills, with the ability to articulate complex financing structures.
• Strong organizational skills and ability to manage multiple transactions in a fast-paced environment.
• Proficiency in Microsoft Excel, Word, and PowerPoint for financial analysis and presentations.
• Knowledge of renewable energy, energy efficiency, and sustainability financing is a plus.

Compensation & Benefits

Note: Clearwater is required by state-specific laws to include the salary range for this role when hiring a candidate in applicable locations. The base salary range for this role is from $75,000 to $135,000.

Specific compensation for the role may vary within the above range based on many factors, including geographic location, candidate experience, and skills. This role is also eligible for additional compensation and/or benefits, including a competitive, discretionary annual cash bonus opportunity. Top performers may also have the opportunity for equity participation.

Clearwater provides a comprehensive benefits package, including health, dental, vision insurance, and 401(k) plans. The role is based in Midtown Manhattan and follows a hybrid work schedule with flexible arrangements based on the candidate’s responsibilities.

About Clearwater

Clearwater is a premier direct lender specializing in Commercial Property Assessed Clean Energy (C-PACE) financing. We deliver customized capital solutions to real estate investors, developers, and property owners. We aim to help clients enhance energy efficiency, sustainability, and financial flexibility while optimizing their capital structures.

At Clearwater, we are committed to driving meaningful change through innovative financing solutions that empower our clients while contributing to a more sustainable built environment. We believe exceptional talent is key to our success, and we foster a culture built on collaboration, integrity, and respect.

Joining Clearwater means becoming part of a dynamic, entrepreneurial team where your expertise and ambition drive personal and professional growth. Here, you’ll have the opportunity to shape the future of real estate finance, expand your skill set, and make a lasting impact in a rapidly evolving industry. As we continue to grow, we seek a highly motivated and experienced credit investment professional to drive deal flow, cultivate client relationships, and support the expansion of our C-PACE platform across key U.S. markets.

Additional Information

Clearwater is dedicated to fostering a workplace that values diversity, equity, and inclusion. We provide equal employment opportunities to all individuals and strictly prohibit discrimination or harassment based on race, color, religion, age, sex, national origin, disability, genetic information, veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by applicable federal, state, or local laws.

We are committed to maintaining a safe, respectful, and positive work environment as our collective success relies on it. Any form of workplace discrimination, harassment, or violence is not tolerated.

Clearwater takes pride in building a diverse and inclusive team and is an equal opportunity employer. We appreciate your interest in this role; however, only candidates selected for pre-screening will be contacted.