Reports ToVice President, Asset Management - Development
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 $7.8 billion has been raised, contributing to the formation of over 66,000 homes within 730 properties. Approaching 140 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 Management Analyst to join the team.
- 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
This entry level position will play an important role in supporting the AVP Asset Managers and managing a limited portfolio of assets in the Development phase within CREA, LLC’s portfolio of Section 42 low-income housing tax credit projects. Specific tasks will include:
- Support of AVP Asset Managers
- Assist in processing monthly construction draws and preparing periodic Equity Installment packages
- Special projects and reporting as requested.
- Review initial set up data within centralized database system
- Assist in collecting, reviewing, and providing follow up on reporting requirements to include monthly rent rolls, initial tenant files, quarterly financials, annual budgets and annual tax returns/audits/audit waivers.
- Portfolio Management
- Maintain a detailed working knowledge of each project within the assigned portfolio;
- Oversee and monitor achievement of benchmarks such as construction completion, qualified occupancy, stabilization and permanent loan conversion of LIHTC projects from close through receipt of executed 8609s or final release of equity.
- Reporting & Technology
- Collect, review and provide reporting on monthly, quarterly and annual financial information for the lower tier partnerships;
- Work with centralized database system to track project data;
- Analyze partnership benchmarks and financial statements 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
- Verification that real estate property taxes are paid current Compliance and Tax Credit Delivery
- Track, monitor and calculate credit delivery for partnerships
- Monitor projects for compliance with partnership agreements
- Maintain a detailed working knowledge of Section 42 LIHTC program compliance requirements
- Bachelor’s degree with a major in accounting, finance, real estate, property management or business;
- Up to one year of professional level work experience;
- Up to one year of experience working in asset management, public accounting, multi-family property management or development;
- The ability to identify and verbalize issues with the partners
- 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.
- A valid driver’s license is required for limited travel of up to 5% with potential for some overnight.
- Some overtime is required periodically throughout the year.
Key Professional Attributes:
- Strong analytical, organizational, interpersonal, and time management skills;
- Ability to identify, simplify, process and solve complex issues;
- 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;
- Commitment to excellence, attention to detail and accuracy, providing high quality work product