Asset Manager, Real Estate Preferred Equity Fund

Origin Funding, LLC; Massachusetts; On-site; USD 120,000 - 140,000; Full time

Benefits offered by this job

Health insurance

401(k) after twelve months

Vacation days

Sick time

Paid holidays

Job summary

Origin Funding in Boston, MA, seeks an experienced asset manager to lead its real estate lending program. You will underwrite, close, and monitor loans, visit projects, and coordinate with sponsors and attorneys.

The role requires 4–8 years in real estate credit, strong Excel and pro forma skills, and willingness to be on site several days each month. Base salary includes a substantial bonus and long‑term growth opportunities.

Qualifications

• 4–8 years in real estate credit, construction lending, or asset management with fund or lender exposure.
• Ability to read a title commitment, construction budget, loan agreements and settlement statements.
• Comfortable with Excel and pro forma modeling.

Responsibilities

• Know project positions, budgets, schedules, senior lender funding, maturities, and sponsor exits; present recommendations to principals.
• Visit projects monthly, review inspection reports and draw packages, ensure work aligns with the story.
• Underwrite guarantees, monitor loans, coordinate closings with counsel and sponsors, manage diligence budgets.
• Run closings through outside counsel, maintain diligence checklists and legal-fee budgets.
• Keep loan servicing data accurate, draft investor materials, and support portfolio reporting.

Skills

Real estate credit

Construction lending

Asset management

Project management

Excel

Pro forma

People skills

Title commitments

Tools

Excel

Job description

Origin Funding · Boston, MA · Full-time · In office most days

About us

Origin Funding is a private real estate investment fund built by developers, for developers. We provide preferred equity, mortgage loans and bank loan guarantees to experienced developers building small and mid-size residential projects, mostly in Greater Boston, and we hold a portfolio of about 30 positions. We are a small team that runs investor capital to institutional standards, and most of our business is repeat business with developers we have backed before.

The role

• - Know every position: where the project is against its budget and schedule, what the senior lender has funded, when we mature, and how the sponsor gets us out.
• - Visit the projects. Walk the site, read the inspection report and the draw, and judge whether the work matches the story.
• - Run maturities, extensions, payoffs and, when needed, workouts. Prepare the paperwork, negotiate the terms with the sponsor, and bring the decision to the principal with a recommendation.
• - Keep the developers close. Most of our deals come from sponsors we have backed before, and the person who is at their projects every month is the reason they come back.

Lending business

• - Alongside the fund we run a lending business with a partner bank: we guarantee the bank's construction and bridge loans to developers who want hard-money speed at bank pricing, and earn a fee and a spread for the credit support. We are continuing to build that book, and you will run it: underwrite each guarantee, paper it with counsel, monitor the loan, and be our day-to-day contact with the bank and the mortgage brokers who bring the deals. As the book grows, so does your share of it (see Compensation).

Closings and underwriting

• - Underwrite new deals the principal brings in: budget, schedule, sponsor track record and financials, senior loan terms, exit. Build the model and write the memo.
• - Run each closing through outside counsel, title and the sponsor's attorney to a complete, on-time close on our house forms. Own the diligence checklist and the legal-fee budget.

Reporting and operations

• - Keep the loan servicing system accurate: every balance, accrual, fee and date.
• - Prepare draw releases and payoff statements for release by an ile positions with our fund administrator each quarter.
• - Draft the quarterly investor letter and the portfolio tape. The principal edits and sends.
• - We have built our own software for servicing, books and reporty day. You will spend your time on judgment, not data entry.

What we are looking for

• - 4 to 8 years in real estate credit, construction lending, prefin a seat where you were responsible for projects after the moneywent out: asset management at a debt fund or private lender, construction loan administration, or project management at a developer with the finance side.
• - You know how a residential build goes from site work to certifan tell from a draw, a schedule and a walk-through when a projectis behind.
• - You can read a title commitment, a construction budget, an insloan agreement and a settlement statement, and you know whensomething is wrong.
• - Comfortable in Excel and with a pro forma. You do not need to
• - You are good with people. Developers should want to call you with bad news early.
• - Direct, organized and comfortable pushing lawyers, sponsors an
• - Based in Greater Boston, in the office most days, with a car and a willingness to be on a job site several times a month.

Compensation

Base salary of $120,000 to $140,000 depending on experience, plus an annual performance bonus of 30% to 40% of base tied to how the portfolio does: no losses, exits at or above accrual, fund returns against target, and growth of the lending book without losses. That puts total compensation at $175,000 to $200,000 in a strong year.

Beyond that, the role is built to grow with the lending business. From the second year the asset manager earns a share of the income on the guarantee book they manage, and later a share of the fund's performance fee. For the person who builds the book, we expect total compensation in the range of $250,000 to $300,000 within three to four years.

Health insurance, 401(k) after twelve months, fifteen days of vacation, paid sick time and eleven paid holidays.