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Asset Manager – Stabilized

  • Reports To
    VP, Asset Management
  • Location
    Boston, MA / Indianapolis, IN / or Portland, OR
  • Date
    December 2020

CREA, LLC (CREA) is a full service LIHTC Syndicator with tax credit equity financing in excess of $6 billion since inception in 2001.  CREA was founded on the “Real Estate First” philosophy that behind every exceptional real estate investment is fundamentally sound real estate; our team pledges to provide innovative real estate investment solutions. While CREA has continued to grow to well over 100 employees we continue to look for talented and passionate individuals who are excited about opportunities to grow with into the future.  With offices headquartered in Indianapolis, IN, CREA’s Asset Management department is growing and looking to add talent for the position of Asset Manager – Stabilized.

 

Position Summary:

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:

  • Maintain a detailed working knowledge of each project within the assigned portfolio
  • Oversee and monitor LIHTC projects from receipt of executed 8609s or final release of equity through the end of the 15-year compliance period
  • Collect and review monthly, quarterly and annual financial information for the lower tier partnerships
  • Perform cash flow analysis and ensure distributions are made timely and in accordance with agreements
  • Provide reporting on monthly, quarterly and annual basis
  • Work with centralized database system to track project data
  • Analyze partnership data and perform risk rating analysis
  • Collect tax returns and audits from the lower tier partnerships and coordinate review and approval through CREA Fund Management Group
  • Coordinate annual compliance reviews with third party compliance consultants and perform some compliance work in house
  • Monitor projects for compliance with partnerships agreements
  • Verification that real estate property taxes are paid current and insurance coverage is adequate and up to date
  • Perform annual site visit to each apartment complex and follow up on deferred maintenance comments until corrected

 

Requirements:

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:

 

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 effectively manage and administer sensitive and confidential information
  • Must have strong initiative and can work with minimal guidance & supervision
  • Professionalism/Ethics (Trust, Attitude, Commitment, Honesty, Collaboration & Approachability)

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