Manager of Real Estate Finance

Frolic Community•Seattle, WA

7d•Onsite

About The Position

Frolic is creating pocket-communities of 6-20 homes owned collectively via the Frolic Community cooperative housing model. This model is designed to bring homeownership within reach for generational renters and first-time home buyers. Frolic builds projects in partnership with single-family home owners who have greater development potential on their land and who want to age in place, house their communities, and shape the future of their neighborhoods. Frolic has 6 projects in development and over 30 in its pipeline. The Manager of Real Estate Finance will lead financial modeling and capital structuring across Frolic’s real estate development projects. This role will manage the full capital stack for projects—including pre-development, construction, and permanent financing—and partner with lenders, investors, and funding partners. The Manager will play a key leadership role in developing Frolic’s financial systems, serving as Frolic's internal expert on project proformas, and supporting the launch of Frolic’s in-house Pre-Development Fund and Subordinated Blanket Mortgage programs.

Requirements

2-4 years of experience in real estate finance, development finance, and / or project underwriting.
Strong experience leading financing efforts for housing development projects, including sourcing, structuring, and closing investment and financing partnerships across the project capital stack.
Experience structuring and managing complex capital stacks and financial products for housing projects, such as LIHTC, NMTC, or other comparable financing mechanisms.
Very strong modeling skills in Excel and familiarity with complex capital stacks (construction, perm, equity, etc.).
Demonstrated experience working with lenders, investors, and government funding programs.
Bachelor’s degree in finance, real estate, or related field.
Excellent written, analytical, and communication skills.
Ability to manage multiple active projects and deadlines.
Commitment to housing innovation and community-oriented development.

Nice To Haves

MBA or MSRED preferred.

Responsibilities

Manage all project financial models, proformas, and capital stack design across multiple projects.
Support engagement with lenders, investors, and financing partners for pre-development, construction, and permanent financing.
Develop and manage standardized systems for project underwriting and financial reporting.
Coordinate closely with the development team to align financial strategy with project design and timelines.
Prepare finance packets, loan applications, and supporting documentation for external stakeholders.
Support the creation of in-house financial vehicles, including the Pre-Development Fund and Subordinated Blanket Mortgage programs.
Mentor junior team members and help build Frolic’s real estate finance team.