Reports ToVP, Asset Management - Stabilized
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. As CREA celebrates 20 years in business, over $7.1 billion has been raised, contributing to the formation of over 60,000 homes within 678 properties. Approaching over 120 employees, we continue to look for talented and passionate individuals who are excited about opportunities to grow with into the future. We are currently looking to add talent for the position of Asset Manager – Stabilized Phase to work out of our headquarters in Indianapolis, IN.
This position will play an important role in managing assets in the development phase within CREA, LLC’s portfolio of Section 42 low income housing tax credit projects. Specific tasks will include:
• Portfolio Management
o Oversee and monitor LIHTC projects from receipt of executed 8609s or final release of equity through the end of the 15-year compliance period;
o Maintain a detailed working knowledge of each project within the assigned portfolio.
• Reporting & Compliance
o Collect, review and provide reporting on monthly, quarterly and annual basis for the lower tier partnerships;
o Analyze partnership financial statements and perform risk rating analysis;
o Perform cash flow analysis and ensure distributions are made timely and in accordance with agreements;
o Collect tax returns and audits from the lower tier partnerships and coordinate review and approval through CREA Fund Management Group;
o Monitor projects for compliance with partnership agreements;
o Maintain a detailed working knowledge of Section 42 LIHTC program compliance requirements;
o Verification that real estate property taxes are paid current and insurance coverage is adequate and up to date.
• Technology & Special Projects
o Work with centralized database system to track project data;
o Special projects and reporting as requested.
• Site Visits
o Perform annual site visit to each apartment complex and follow up on deferred maintenance comments until corrected.
Bachelor’s degree with a major in accounting, finance, real estate, property management or business preferred. A minimum two years of experience working with Section 42 (low income, tax credit) projects in the area of asset management, public accounting, multi-family property management or development preferred. A working understanding of operating analysis and limited partnership agreements and the ability to identify and verbalize issues with the partners is strongly preferred. Must be proficient with Microsoft Office Suite with a heavy emphasis on Excel and Word. Candidate must have excellent communication skills and the ability to comfortably interact with senior management internally and a large external client base. Travel of up to 20% with some overnight. Some overtime is required periodically throughout the year. Must possess and be able to demonstrate effectiveness with each of the following Key Attributes:
Strong analytical, organizational, interpersonal, and time management skills
Excellent oral and written communication skills
Ability to efficiently receive, monitor and follow through requests, projects and problems to completion;
Ability to multi-task, prioritize and meet deadlines
Ability to effectively manage and administer sensitive and confidential information;
Must have strong initiative and can work with minimal guidance & supervision