Position Overview:
BlueHub Capital is seeking an experienced and dynamic VP of Community Development Lending to deliver all aspects of BlueHub Loan Fund's real estate focused lending program to a diverse set of borrowers, primarily developers of affordable housing, operators of K-12 public charter schools, and community health centers.
BlueHub's offices are in Boston, MA and its lending footprint is national. The VP of Community Development Lending will be responsible for managing all aspects of commercial lending services to a diverse portfolio of borrowers nationwide. They will bring to the position demonstrated community development lending experience and commitment to delivering capital in low-income communities to projects that significantly benefit low-income residents. They will have strong credit analysis and underwriting skills and have a proven business development track record. This position will report to one of BlueHub Loan Fund's Senior Vice Presidents of Lending.
We are seeking a candidate who is local to the Boston, MA area and comfortable working a hybrid schedule of three days of work in the office (Tuesday, Wednesday, Thursday) and two days of remote work (Monday & Friday). We will consider remote candidates on a case-by-case basis, particularly candidates located in our New York/New Jersey market area.
Essential Duties and Responsibilities:
The essential duties and responsibilities will include, but not be limited to, the following:
Lending:
- Expanding BlueHub's network of relationships with community leaders, mission-aligned developers and operators of community facilities, Community Development Finance Institutions (CDFI) and lending partners, and other key stakeholders.
- Identifying potential commercial real estate lending opportunities and screening those opportunities for feasibility, impact and credit strength.
- Underwriting loan transactions primarily for affordable housing, school facilities, healthcare facilities and grocery stores.
- Structuring predevelopment, acquisition, construction, bridge, term and leverage loans.
- Preparing approval memoranda and presenting credit recommendations to the BlueHub Loan Committee.
- Closing complex loan transactions, including reviewing loan documents, and negotiating with the borrower, other lenders and public agencies.
- Managing an active portfolio of relationships in partnership with the Portfolio Management team.
Other Duties:
- Provide technical assistance to borrowers with varied levels of sophistication to strengthen projects, identify additional resources required and otherwise help projects advance and succeed.
- Identify unmet capital needs in low-income communities for which BHLF can deliver financial loan products not otherwise being offered.
- Public representation of BlueHub Capital to external stakeholders.
- Occasional involvement in new product development, grant writing, Loan Fund policy and planning, and national CDFI activities and trainings.
Other duties as assigned.
Qualifications and Skills:
- Advanced degree in Finance or Real Estate is preferable
- 8 or more years of experience in real estate finance, preferably in most or all of the following areas: (1) multi-family affordable housing and the Capital Magnet Fund program; (2) charter school facilities; (3) community health center facilities; (4) New Markets Tax Credit (NMTC) leverage loans
- Self-motivated with excellent organizational skills
- Able to work independently and as part of team
- Has strong quantitative and financial analysis skills
- Demonstrated experience with business development
- Excellent verbal and written communication skills
- Commitment to the mission and goals of BlueHub Capital
Salary and Benefits:
This role offers a pay range of $145,000-$170,000. Positioning within this range will be commensurate with experience. BlueHub invests in the benefits, training, growth opportunities and infrastructure that let you envision a career here. Benefits for full-time employees include:
- Generous insurance benefits: Health, dental, vision, life and disability insurance, including additional reimbursement for out-of-pocket healthcare expenses
- Retirement benefits: Competitive 401(k) matching
- Unique BlueHub benefits and stipends that support employee wellness, sustainable practices and charitable gift matching
- Excellent package of vacation time and paid leave, as well as generous roll-over policies
