Senior Underwriter, Real Estate Credit

Leon Capital Group; Dallas (TX); On-site; USD 120,000 - 170,000; Full time

Job summary

Leon Financial, LLC is seeking a Senior Underwriter, Real Estate Credit to anchor the underwriting function for its CRE platform. This role requires immediate contribution, with a focus on multifamily underwriting but with exposure to industrial, healthcare, retail, self-storage, and land.

The ideal candidate will have seven+ years of CRE underwriting experience, advanced financial modeling proficiency, and a track record of closing transactions.

Qualifications

• Seven or more years of CRE credit underwriting experience with a verifiable history of closed transactions.
• Deep multifamily underwriting experience is required. Industrial, healthcare, retail, self-storage, and land experience is a plus.
• Advanced financial modeling proficiency, including the ability to build and stress underwriting models independently.
• Demonstrated experience authoring investment committee credit memoranda for institutional review.
• Strong credit judgment and comfort underwriting transactions across property types and market cycles.
• Proven ability to operate autonomously with high accountability and minimal oversight.
• Bachelor's degree in finance, real estate, economics, or a related field, or equivalent practical experience. Advanced degree preferred.

Responsibilities

• Underwrite CRE credit transactions sourced by the origination team, including senior secured loans, mezzanine debt, preferred equity, and transitional and structured credit investments.
• Build and stress detailed cash flow models, loan sizing analyses, and sensitivity scenarios for each transaction.
• Apply deep multifamily expertise across agency, bridge, CMBS, and balance sheet executions.
• Conduct due diligence and financial analysis of borrowers, sponsors, principals, and guarantors.
• Order and review third-party reports, including appraisal, engineering, environmental, zoning, and insurance.
• Identify and mitigate risks associated with the market, loan, property, tenancy, and sponsorship.
• Author investment committee credit memoranda that present transaction merits, risks, and structure.
• Present transactions to credit leadership and respond to investment committee diligence requests.
• Coordinate loan closing processes in partnership with originations, legal, and asset management.
• Support post-closing asset management, including covenant compliance, loan modifications, and asset performance reviews.
• Support the firm's multifamily investment platform on legacy underwriting and transaction needs.

Skills

CRE underwriting

Financial modeling

Investment committee memoranda

Due diligence

Credit judgment

Autonomy/accountability

Education

Bachelor's degree in finance/real estate/economics

Advanced degree preferred

Job description

Leon Financial, LLC is seeking a Senior Underwriter, Real Estate Credit to anchor the underwriting function of its growing commercial real estate (CRE) credit platform. The Senior Underwriter will own transactions from initial sizing through investment committee approval and closing, working in direct partnership with the platform's credit originators and senior leadership.

Deep multifamily underwriting experience is the core requirement for this role. The platform underwrites across a diversified set of asset classes, and the successful candidate will gravitate toward multifamily transactions while bringing the judgment and flexibility to underwrite industrial, healthcare, retail, self-storage, and land as deal flow evolves.

This is not a training or ramp-up role. The expectation is immediate contribution.

Key Responsibilities

Underwriting and Credit Analysis

• Underwrite CRE credit transactions sourced by the origination team, including senior secured loans, mezzanine debt, preferred equity, and transitional and structured credit investments.
• Build and stress detailed cash flow models, loan sizing analyses, and sensitivity scenarios for each transaction.
• Apply deep multifamily expertise across agency, bridge, CMBS, and balance sheet executions.
• Conduct due diligence and financial analysis of borrowers, sponsors, principals, and guarantors.
• Order and review third-party reports, including appraisal, engineering, environmental, zoning, and insurance.
• Identify and mitigate risks associated with the market, loan, property, tenancy, and sponsorship.

Investment Committee and Closing

• Author investment committee credit memoranda that present transaction merits, risks, and structure.
• Present transactions to credit leadership and respond to investment committee diligence requests.
• Coordinate loan closing processes in partnership with originations, legal, and asset management.

Portfolio and Platform Support

• Support post-closing asset management, including covenant compliance, loan modifications, and asset performance reviews.
• Support the firm's multifamily investment platform on legacy underwriting and transaction needs.

Qualifications & Experience

• Seven or more years of CRE credit underwriting experience with a verifiable history of closed transactions.
• Deep multifamily underwriting experience is required. Industrial, healthcare, retail, self-storage, and land experience is a plus.
• Advanced financial modeling proficiency, including the ability to build and stress underwriting models independently.
• Demonstrated experience authoring investment committee credit memoranda for institutional review.
• Strong credit judgment and comfort underwriting transactions across property types and market cycles.
• Proven ability to operate autonomously with high accountability and minimal oversight.
• Bachelor's degree in finance, real estate, economics, or a related field, or equivalent practical experience. Advanced degree preferred.

Ideal Background

The right candidate typically comes from the underwriting or credit team of an agency lender, a private real estate debt fund, a bank or life company CRE lending group, or a CMBS platform. Candidates who have built or led an underwriting and investment committee process, and who have trained junior underwriters, are especially well positioned for this role.

What This Role Is Not

• Not a junior or mid-career underwriting role.
• Not an origination or production position.
• Not a brokerage, appraisal, or advisory position.

Why Leon Financial, LLC

Leon Financial, LLC is a diversified real estate credit platform operating across multiple commercial real estate strategies. The firm partners with experienced sponsors and operators to originate and structure thoughtful, risk-adjusted credit solutions across the capital stack.

Leon Financial, LLC offers senior credit professionals the opportunity to operate within a collaborative, entrepreneurial environment while leveraging the flexibility, scale, and support of a broader investment platform.