Senior Associate, Underwriting

Underwriter

Sunday Capital | Los Angeles, California

Company Overview:

Sunday Capital is a Los Angeles-based private real estate lender providing 12 to 36 month bridge loans on commercial real estate nationally, with a core focus on multifamily value-add, lease-up and transitional assets. Founded in 2019, the firm operates with a lean team in which underwriters work directly on live transactions and engage with sponsors throughout the loan process.

Position Summary

Sunday Capital is seeking an Underwriter to support the evaluation and execution of bridge loans from initial screening through closing. The Underwriter will build and maintain cash flow models, size and structure loans, prepare credit memoranda and coordinate third-party diligence. The position reports to the Head of Credit and Underwriting.

The position requires the ability to manage multiple transactions concurrently, deliver timely and accurate analysis, and exercise sound credit judgment in evaluating sponsors, business plans and collateral.

Key Responsibilities:

• Underwrite bridge loans end to end. Build property-level cash flow models from rent rolls, T-12s, budgets and broker packages across multifamily and other CRE asset types.
• Size and structure loans. Run LTV, LTC, debt yield and DSCR sizing; model interest reserves, holdbacks, future funding and extension tests.
• Stress-test the business plan. Pressure rent growth, renovation premiums, lease-up pace, capex budgets, exit cap rates and refinance assumptions. Know what has to go wrong for the loan to lose money.
• Prepare credit memoranda. Turn the model into a clear investment thesis with risks, mitigants and a recommendation.
• Diligence the sponsor and the market. Review sponsor track record, financials and liquidity; pull rent and sales comps, submarket data and supply pipeline; review appraisals, PCAs, environmental reports and title.
• Screen fast. Turn quick-look sizing and term sheet support for originations so we can respond to brokers and borrowers in hours.
• Support capital markets. Prepare deal packages, asset summaries and data for leverage providers and note buyers.
• Monitor the book. Track draw requests, budget variance and business plan progress on existing loans; flag credit deterioration early.

Qualifications:

• 4+ years of CRE underwriting. Debt preferred: bridge lending, debt funds, CMBS/CRE CLO, balance sheet lenders or debt advisory. Strong equity acquisitions underwriters with transitional deal experience will also be considered.
• Elite Excel. You build models from a blank sheet, fast and clean. Fluent in INDEX/MATCH or XLOOKUP, SUMIFS, data tables, scenario and sensitivity analysis, and keyboard-only navigation. You can audit someone else's model and find the error in minutes.
• Command of debt metrics and structure. LTV, LTC, debt yield, DSCR, interest reserves, future funding, extension tests, and how a bridge loan actually gets repaid.
• Qualitative judgment. You read a rent roll, an appraisal or a sponsor's resume and know what is missing. You can explain in plain English why a deal works or why it does not.
• Clear writing. Credit memos that a committee can read in ten minutes and act on.
• Speed with accuracy. Comfortable carrying multiple deals at once without letting errors slip.
• Ownership. You push deals forward, chase missing items and do not wait to be told.
• Bachelor's degree in finance, real estate, economics or a related field.

Preferred Qualifications:

• Transitional multifamily experience: value-add renovations, lease-ups, new construction take-outs.
• Workout or asset management exposure on loans that went sideways.
• Tools: Argus, CoStar, Yardi Matrix, Trepp or similar.
• Experience outside multifamily: industrial, retail, mixed-use, SFR portfolios or land.
• Familiarity with leverage such as warehouse lines, A-note/B-note structures or loan-on-loan financing.
• Progress toward CFA or a real estate master's degree.

Compensation, Location and Application

• Location: Los Angeles, California. In office at our West LA office on Olympic Blvd.
• Base salary plus a discretionary annual bonus tied to individual and fund performance.
• Benefits: Health, dental, vision, 401(k), PTO.