Director of Distressed Real Estate & Workouts

Bullpen; New York (NY); Hybrid; USD 180,000 - 320,000; Full time

Job summary

Bullpen is partnering with a leading national commercial real estate finance and investment firm to hire a Director of Asset Management focused on distressed real estate, complex loan workouts, and special situations across multifamily and healthcare portfolios.

Reporting directly to the CFO, this person will take ownership of challenging assets and investments, determine the best path to recovery, and lead execution through restructuring, recapitalization, operational turnaround, redevelopment,

Qualifications

• 15+ years of commercial real estate experience with distressed asset management.
• Track record leading workouts, restructurings, and capitalizations.
• Strong executive communication and stakeholder alignment.
• Ability to drive value through asset-level turnaround and strategy.

Responsibilities

• Lead resolution strategies for distressed assets from assessment to execution.
• Negotiate workouts, restructurings, recapitalizations, and exits with borrowers, guarantors, lenders, investors, and partners.
• Evaluate operations, performance, valuations, and capital needs to determine recovery paths.
• Drive improvements through leasing, capital investment, redevelopment, and use changes.
• Structure debt and equity solutions, including preferred equity and JV partnerships.
• Assess investment value and decide on sales or exits to protect capital.
• Identify new distressed investments and lead negotiations to close deals.
• Coordinate internal teams and external partners with accountability for timelines and results.
• Present asset strategies and capital requests to executives and investment committees.

Skills

Distressed real estate

Loan workouts

Special situations investing

Leadership

Executive communication

Strategic financial analysis

Job description

Bullpen is partnering with a leading national commercial real estate finance and investment firm to hire a Director of Asset Management focused on distressed real estate, complex loan workouts, and special situations across multifamily and healthcare portfolios.

Reporting directly to the CFO, this person will take ownership of challenging assets and investments, determine the best path to recovery, and lead execution through restructuring, recapitalization, operational turnaround, redevelopment,