Associate - CRE Credit

Position: Senior Analyst / Associate, Real Estate Credit Investments

Location: New York, NY

Company Description

Northwind Group is a Manhattan-based real estate private equity firm and debt fund manager investing through discretionary closed-ended funds and balance sheet direct investments. Over the past 20 years, Northwind has executed over $11 billion in U.S. real estate transactions across more than 400 real estate and healthcare properties in 25 states and currently manages capital across five closed-ended debt funds, co-investment vehicles, SMAs, and SPEs. Through its real estate credit strategies, Northwind has originated over $5 billion of loans secured by assets in the Greater NYC metro area and other major U.S. gateway cities. Its commercial real estate debt funds (“Northwind Debt Fund”) focus on traditional bridge lending through direct origination of first mortgage and mezzanine loans across asset types, geographies, and capital structures, adhering to rigorous investment criteria and the firm’s core values of honesty, transparency, and integrity.

Job Description

We are seeking a highly motivated Senior Analyst / Associate to join our growing Real Estate Credit Investments team in New York City. This individual will analyze credit investment opportunities through the full investment cycle — underwriting, due diligence, structuring, execution, and

asset management. Given our lean deal-team structure, the successful candidate will gain end-to-end transaction experience across a variety of property types and markets, with direct exposure to senior leadership and the investment committee from day one and a clear path for

advancement. Title and level will be commensurate with experience. This role is based in our Manhattan office five days per week.

Responsibilities

• Underwriting & Financial Analysis: Develop detailed financial models in Excel (and Argus, where applicable) to project asset- and loan level cash flows, returns, and distribution waterfalls; conduct sensitivity analyses; and evaluate downside risks.

• Investment Committee Materials: Draft detailed investment memoranda and presentations to inform investment committee decision making and communicate with internal and external stakeholders.

• Structuring & Execution: Support the negotiation and drafting of term sheets and loan documentation through closing.

• Transaction Due Diligence: Manage and coordinate due diligence, including review of third-party reports, legal documentation, and property financials, market research, and site visits.

• Asset & Portfolio Management: Monitor existing investments, including reporting, loan servicing, construction draw reviews, periodic reunderwriting, and KPI tracking; assist in executing business plans, modifications, and restructurings.

• Originations & Relationship Management: Screen pipeline opportunities and support senior team members in maintaining relationships with sponsors, brokers, financing sources, investors, and service providers.

Qualifications

• 2–4 years of experience in real estate, investment banking, private equity, brokerage, or a similar role; real estate credit or lending experience preferred.

• Bachelor’s degree in finance, real estate, economics, or a related discipline; outstanding academic credentials preferred.

• Exceptional financial modeling and analytical skills; high proficiency in Excel and asset-level underwriting required. Argus or other real estate-specific tools a plus.

• Strong written and verbal communication skills, including the ability to present complex concepts to senior stakeholders; writing samples may be requested.

• Exceptional attention to detail, organizational skills, and a proactive work ethic, with a demonstrated ability to manage multiple priorities in a fast-paced, deadline-driven environment.

• Team-oriented mindset with a willingness to take ownership; demonstrated intellectual curiosity and a desire to develop expertise in real estate credit and grow with the platform.

Compensation & Benefits

Northwind Group follows a total compensation approach consisting of a base salary and a discretionary annual bonus determined by firm, team, and individual performance. The expected annual base salary range for this position is $120,000 - $200,000; actual compensation will depend on experience, qualifications, and level. Employees are also eligible for a comprehensive benefits package, including medical, dental, and vision coverage, a 401(k) plan, paid time off, and company-sponsored life and disability insurance.

How to Apply

Please submit a resume to careers@northwind-group.com with the subject line “Senior Analyst / Associate – Real Estate Credit.”

Equal Employment Opportunity

Northwind Group is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex (including pregnancy, gender identity, and sexual orientation), national origin, age, disability, veteran status, marital status, citizenship status, genetic information, or any other legally protected characteristic. Northwind Group provides reasonable accommodations to qualified individuals with disabilities in accordance with applicable law.