Asset Manager - Stabilized

Description

CREA, LLC is a full-service low-income housing tax credit (LIHTC) syndicator forming long-term relationships with investors and developers that cultivate success and improve lives. With nearly 25 years in affordable housing, CREA has raised $12.025 billion - resulting in the formation of over 88,000 homes within 958 communities across the country. Thanks to the contribution of over 145 employees, CREA continues to look for talented and passionate individuals who are excited about opportunities to grow with us into the future. We are looking to add a talented Asset Manager to the Asset Management-Stabilized department in CREA's Indianapolis, IN. office. 

Physical Presence: In-Office | Tue – Thu; Flexible | Mon & Fri

Open to: Indianapolis, IN. 

Reports to: Vice President, Asset Management

Position Summary:

This position will play an important role in managing assets in the Stabilized phase within CREA, LLC’s portfolio of Section 42 low-income housing tax credit properties.

Primary Responsibilities:

Portfolio Management

• Maintain a detailed working knowledge of each property within the assigned portfolio.
• Oversee and monitor LIHTC properties from Stabilization (receipt of executed 8609s or final release of equity) through the end of the 15-year compliance period.
• Act as a liaison between CREA and its operating partners within the CREA Portfolio to provide ongoing monitoring and updates to CREA’s investor partners.

Reporting & Compliance

• Collect, review, and provide financial reporting on a monthly, quarterly, and annual basis for properties.
• Analyze with Investment Central (MRI) partnership financial statements and perform risk rating analysis.
• Perform cash flow analysis and ensure distributions are made timely and in accordance with agreements.
• Collect tax returns and audits from the lower tier partnerships and coordinate review and approval through CREA Fund Management Group.
• Monitor properties for compliance with partnership agreements.
• Maintain a detailed working knowledge of Section 42 LIHTC program compliance requirements.
• Review GP requests on potential deal changes and prepare formal requests for Investor Relations
• Coordinate annual compliance and insurance reviews with third-party consultants.

Technology & Special Projects

• Work with a centralized database system (MRI) to track property data, monitor performance, and produce investor reports.
• Special projects and reporting as requested.

Site Visits

• Perform annual site visits to properties and follow up on deferred maintenance comments until corrected. Up to 8 weeks of travel annually expected.

Requirements

•  Bachelor’s degree with a major in accounting, finance, real estate, or another business-related field
• A minimum of two years of working in the areas of asset management, accounting, and multifamily affordable industry.
• Must be proficient with Microsoft Office Suite with a heavy emphasis on Excel and Word.
• Must have excellent communication skills and the ability to comfortably interact with senior management internally and a large external client base.
• The ability to identify and verbalize issues with partners.
• Currently has or has the ability to receive a LIHTC Compliance Certification. 
• A valid driver’s license is required for travel of up to 20% annually, with some overnight.
• Must possess and be able to demonstrate effectiveness with each of the following Core Competencies:

Core Competencies:

• Excellent problem-solving, organizational, interpersonal, and time-management skills
• Ability to identify, simplify, process, and resolve complex issues
• Excellent oral and written communication skills
• Ability to efficiently receive, monitor, and follow through with requests, projects, and problems to completion.
• Ability to multi-task, prioritize, and meet deadlines
• Ability to manage and administer sensitive and confidential information.
• Must have strong initiative and ability to work with minimal guidance & supervision
• Commitment to excellence, attention to detail, and accuracy, providing high-quality work product

Our Values:

• We work as a family, investing in each other, worthy causes, and the communities we serve. 
• We have integrity in all that we do; we embrace differences and treat others with kindness and respect. 
• We believe that, with teamwork, we can accomplish anything and pursue inventive solutions for our clients.