Director of Real Estate Finance

Frolic Community • Full-time • Remote (Seattle, WA) • $130k - $170k / year • 2d ago

Director of Real Estate Finance

Location: Seattle, WA (Remote)

Employment Type: Full-time

About the Employer

Frolic Community is creating pocket-communities of 6–20 homes owned collectively via the Frolic Community cooperative housing model, designed to bring homeownership within reach for generational renters and first-time home buyers. Building on the research of our founders from the MIT Center for Real Estate, we partner 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. We have 6 projects in development and over 30 in our pipeline.

Role Summary

We are seeking a Director of Real Estate Finance to 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. You will play a key leadership role in developing Frolic's financial systems, standardizing project proformas, and supporting the launch of Frolic's in-house Pre-Development Fund and Subordinated Blanket Mortgage programs.

What You'll Do

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

Required Qualifications

7+ 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
Excellent written, analytical, and communication skills
Ability to manage multiple active projects and deadlines
Commitment to housing innovation and community-oriented development

Preferred Qualifications

Bachelor's degree in finance, real estate, or related field
MBA or MSRED

Compensation

$130K–$170K

Benefits

80% company contribution to robust medical, dental, and vision benefits, up to 3.5% employer match on sponsored 401(k) plan, and stock options to be a co-owner of our company.

Additional Information

This position requires the candidate to be based in the Seattle metro area. We will consider applications from candidates based in the Bay Area or Los Angeles who are open to traveling to Seattle at least once a month.

Equal Opportunity Statement

Frolic is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.

Related Jobs

Director, Housing Transactions

HR&A Advisors • Full-time • Los Angeles, CA; San Francisco Bay Area, CA; Seattle, WA (Remote) • $142k - $164k / year • 1m ago

Capital Markets Mixed Income Transaction Management Affordable Housing Underwriting

1m ago

Apply

Senior Affordable Housing Associate

Stoel Rives LLP • Full-time • Seattle, WA; Minneapolis, MN; Boise, ID; Anchorage, AK; Washington, D.C.; Portland, OR; Sacramento, CA; San Diego, CA; San Francisco, CA • $236k - $325k / year • 1w ago

Legal LIHTC Equity Syndication Affordable Housing Housing Preservation

1w ago

Apply

Director of Housing

Seattle Office of Housing • Full-time • Seattle, WA • $165k - $272k / year • 4w ago

Policy/Government Affordable Housing Program Management Housing Preservation

4w ago

Apply

Community Development Program Management

Beneficial State Bank • Full-time • Portland, OR; Oakland, CA; Los Angeles, CA; Fresno, CA; Seattle, WA; Porterville, CA • $85k - $113k / year • 1m ago

Compliance Affordable Housing Lending Program Management

1m ago

Apply