Asset Manager - Stabilized

CREA, LLC; Indianapolis (IN); On-site; USD 70,000 - 110,000; Full time

Job summary

CREA, LLC is seeking an Asset Manager - Stabilized in Indianapolis to oversee LIHTC properties within the Stabilization phase. The role requires monitoring partnerships, managing cash flows, and coordinating with investors and operating partners.

The ideal candidate has a finance/real estate background with 2+ years in asset management, strong Excel skills, and the ability to communicate with senior management. In-office presence is required Tue–Thu with some flexibility.

Qualifications

• Bachelor's degree in Finance, Accounting, Real Estate or related field.
• Minimum two years in asset management, accounting, or multifamily affordable housing.
• Proficient with Microsoft Office; strong Excel abilities required.
• Excellent communication and ability to interact with senior management and partners.

Responsibilities

• Maintain knowledge of each property in the portfolio and monitor LIHTC assets through stabilization and 15-year compliance.
• Prepare monthly, quarterly, and annual financial reporting; analyze statements and cash flows.
• Coordinate with partners, investors and CREA Portfolio on ongoing monitoring and updates.
• Oversee site visits and ensure corrective actions follow through; travel up to 10 weeks annually.
• Ensure compliance with partnership agreements and Section 42 LIHTC requirements.

Skills

Financial analysis

Asset management

Communication skills

Attention to detail

Multitasking

Education

Bachelor's degree in Finance/Accounting/Real Estate

Tools

Excel

Microsoft Word

Job 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 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 (Candidates must currently reside within commuting distance of Indianapolis, IN, as relocation assistance is not available for this position.)

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:

• 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
• 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.

Requirements

• Bachelor's degree required; Finance, Accounting, Real Estate, or another business-related field preferred.
• A minimum of two years of work in the areas of asset management, accounting, and/or the multifamily affordable housing 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 an LIHTC Compliance Certification.
• A valid driver's license is required.
• 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 multitask, 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 products.

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.

Work Authorization

• CREA does not provide employment visa sponsorship. Candidates must be authorized to work in the United States without current or future sponsorship from CREA