Director, Commercial Real Estate Investments

RRA Capital•Phoenix, AZ

19h

About The Position

RRA Capital is seeking an experienced commercial real estate investor to join its investment team and take ownership of deals from initial opportunity through closing. The Director will evaluate commercial real estate credit opportunities and help determine where the firm should deploy capital. The role involves independently forming investment views, identifying key deal considerations, challenging assumptions, structuring around risk, and making clear recommendations, with direct exposure to the CIO and investment decisions shaping RRA’s portfolio. The Director will own underwriting from the ground up, including analysis of the real estate and business plan, model building and stress-testing, sponsor and market evaluation, downside analysis, and assessment of whether deal structures adequately compensate for risk. This is a hands-on modeling and data role using RRA’s proprietary in-house tools, including sourcing and normalizing rent rolls, operating statements, comparable transactions, and sponsor financials. The role also produces durable underwriting memos and investment reports and advances opportunities by working with brokers, sponsors, property managers, and other market participants to gather information, resolve questions, and structure executable transactions. RRA is an intentionally lean real estate credit platform focused on structured lending and opportunistic investments. The successful candidate will have meaningful transaction responsibility and the opportunity to influence both the portfolio and the firm’s investment approach. The role is based in Phoenix, Arizona; exceptional candidates in other markets may be considered case by case.

Requirements

Meaningful history of commercial real estate investment underwriting across enough deal types and market conditions to have developed sound judgment.
Track record of independently underwriting and closing transactions.
Strong command of real estate fundamentals, financial analysis, and credit risk.
Ability to build financial models independently and communicate investment analysis in writing.
Judgment to distinguish a complicated deal from a bad one and curiosity to investigate when the answer is not obvious.
Experience considering investments from both a lender’s and an owner’s perspective.
Ability to communicate and defend an investment view clearly and change position when warranted by the facts.
High degree of ownership and urgency, and comfort operating on a lean team.
Genuine interest in investing and continual improvement.

Nice To Haves

Exceptional candidates based outside Phoenix may be considered on a case-by-case basis.
Participation in firm economics is available for the right candidate.

Responsibilities

Lead underwriting end to end by building models, sourcing underlying data, and pressure-testing assumptions and downside scenarios.
Structure loans around leverage, pricing, covenants, and other protections.
Develop a clear investment thesis and communicate both the opportunity and the risks.
Build relationships with brokers, sponsors, and other investment professionals to strengthen underwriting and market perspective.
Own deals throughout the investment process, from initial screening and diligence through structuring and closing.
Contribute ideas and perspective to improve how RRA evaluates risk and invests over time.
Prepare underwriting memos and investment reports that support the firm’s investment decisions.