Associate, Commercial Real Estate

Northeast Bank; Boston (MA); Hybrid; USD 70,000 - 90,000; Full time

Benefits offered by this job

Competitive compensation

Generous PTO

Hybrid work environment

Job summary

A full-service community bank is seeking a motivated individual for a key role in the Real Estate Group. The ideal candidate will bring 2+ years of experience in commercial real estate lending and valuation, contributing to crucial valuation analyses and collaborating across teams. Strong analytical skills and a Bachelor’s degree are required. Join this growing organization that prioritizes employee well-being and offers a hybrid work environment.

Qualifications

• Strong track record of performance and leadership.
• 2+ years experience in commercial real estate lending or underwriting.
• Formal bank credit training is a plus.

Responsibilities

• Complete valuation analyses for loans under consideration.
• Assess market position and collateral value for new lending opportunities.
• Collaborate with various teams during loan life cycle.

Skills

Commercial real estate lending

Real estate valuation

Underwriting

Excel

Communication skills

Attention to detail

Education

Bachelor’s degree

Job description

Overview

Northeast Bank is a full-service community bank and a national commercial real estate lender with offices in Maine, Massachusetts, New York, and California. We are looking for motivated and talented individuals who want to make an impact in a growing company that cares about its employees, customers, and the communities it serves. Northeast Bank provides competitive compensation and benefits, generous PTO, and a hybrid work environment dependent on the role. If you are looking for a growing organization that prioritizes its employees, we encourage you to apply.

POSITION SUMMARY: Launched in 2010, Northeast Bank’s national lending team continues to expand by providing dynamic commercial real estate lending solutions. As a national lender with deep industry knowledge, the Bank originates traditional and transitional loans and other facilities for borrowers and non-bank lenders, as well as purchases loans (individually and in pools) originated by third parties. Northeast Bank has earned a reputation as a smart and nimble lender in the commercial real estate space, powered by an experienced underwriting team with a successful track record. The successful candidate would be part of the Real Estate Group and will play an active role on the origination and underwriting team, providing valuation and market expertise for new lending opportunities across all real estate sectors nationwide.

Responsibilities

• Commercial Real Estate Valuation – complete internal valuation analyses/reports across a variety of property types and geographies for loans under consideration for purchase or origination. Involves fast paced, independent analysis including the review and synthesis of appraisal, property financials and other due diligence items; discussions with local market participants; and a survey of market conditions. Present conclusions to Loan Approval Committee / Senior Management
• Prescreen New Opportunities – review real estate securing new lending opportunities to assess market position and liquidity and develop a view on collateral value and loan to value. Work closely with Relationship Management and Credit Underwriting groups to discuss risks associated with underlying real estate
• Collaborate & Consult – work closely with the Originators, Credit, Legal, Relationship Management and Asset Management throughout the life cycle of a loan, from due diligence-to closing-to asset management-to disposition. Act as a subject matter expert on all matters related to real estate
• Travel – when appropriate, complete site inspections for due diligence or asset management purposes
• Flexibility – able to work on ad-hoc projects and requests as needed and as dictated by business needs
• Successfully pass technical and regulatory examinations required by the Company.

Qualifications

• Bachelor’s degree with a strong track record of performance and leadership
• 2 plus years of experience in commercial real estate lending, real estate valuation and/or underwriting.
• Formal bank credit training or continuing education in credit and/or real estate topics a plus
• Intermediate to advanced Excel skills with knowledge of real estate financial modeling
• Outstanding interpersonal, verbal, and written communication skills
• Attention to detail, ability to multi-task and self-motivate in a fast-paced environment
• Ability to objectively evaluate and consider all data prior to reaching conclusions

Physical Demands and Conditions

• Must be able to remain in a stationary position for long periods of time.
• Some travel is required.
• Must be able to occasionally lift up to 25lbs.
• Consistently operates a computer and other office machinery such as calculator, copy machine and printers.
• Climate controlled general office setting with moderate noise level.
• Must express or exchange ideas and meaning with co-workers, supervisors, customers and vendors.

Northeast Bank is an equal employment opportunity and affirmative action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity and expression, national origin, veteran status and any other classification protected by law. We celebrate diversity and are committed to creating an inclusive environment for all employees.