Asset Manager - 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. With more than 25 years in affordable housing, CREA has raised in excess of $14 billion since inception, resulting in the formation of over 100,000 homes within 1,000+ communities across the country. Thanks to the contribution of over 135 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 – Stabilized to the Asset Management department in the Indianapolis CREA office.
Physical Presence: In-Office | Tue – Thu; Flexible | Mon & Fri
Open to: Indianapolis, IN
Reports to: Senior 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 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 consultant
Technology & Special Projects
- Work with a centralized database system 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 10 weeks of travel annually expected.