Director, Commercial Real Estate Investments

RRA Capital | CRE Bridge Lender•Phoenix, AZ

7d•Onsite

About The Position

RRA Capital is seeking an experienced commercial real estate investor to join their investment team in Phoenix, Arizona. This role offers the opportunity to take ownership of deals from initial opportunity through closing, forming independent investment views, identifying critical factors in deals, challenging assumptions, structuring around risk, and making clear recommendations. The Director will work closely with the CIO and investment team, gaining direct exposure to portfolio-shaping decisions. The position requires both judgment and execution, with the goal of improving RRA's investment strategies over time. The Director will evaluate commercial real estate credit opportunities to determine where RRA should deploy capital. This involves owning underwriting from the ground up, including understanding the real estate and business plan, building and testing financial models, evaluating sponsors and markets, identifying downside scenarios, and ensuring appropriate risk compensation through deal structuring. The role utilizes proprietary in-house tools for underwriting, requiring hands-on data work such as pulling and normalizing rent rolls, operating statements, comps, and sponsor financials. Strong written communication skills are essential for creating underwriting memos and investment reports. The Director will also collaborate with brokers, sponsors, property managers, and other market participants to gather information, resolve issues, and structure executable transactions.

Requirements

A meaningful history of commercial real estate investment underwriting - enough reps, across enough deal types and market conditions, that your judgment is earned rather than theoretical
A track record of independently underwriting and closing transactions
Strong command of real estate fundamentals, financial analysis and credit risk, with the modeling depth to build it yourself and the writing to make the case on paper
The judgment to distinguish a complicated deal from a bad one, and the curiosity to dig deeper when the answer isn't obvious
Experience thinking about investments from both a lender's and an owner's perspective
The ability to communicate an investment view clearly, defend it thoughtfully and change your mind when the facts warrant it
A high degree of ownership, urgency and comfort operating on a lean team
A genuine interest in investing and getting better at it

Responsibilities

Leading underwriting end to end - building the models, sourcing the underlying data, and pressure-testing assumptions and downside scenarios
Structuring loans around leverage, pricing, covenants and other protections
Developing a clear investment thesis and communicating both the opportunity and the risks
Building relationships with brokers, sponsors and other investment professionals that strengthen both our underwriting and market perspective
Owning deals throughout the investment process, from initial screening and diligence through structuring and closing
Contributing ideas and perspective that improve how RRA evaluates risk and invests over time