Asset Manager - Stabilized

Socket.dev; Indianapolis (IN); On-site; USD 65,000 - 95,000; Full time

Job summary

CREA, LLC in Indianapolis is seeking an Asset Manager – Stabilized to oversee a portfolio of LIHTC properties from Stabilization through the end of the 15-year compliance period. You will liaise with operating partners and investor relations, ensuring timely reporting and compliance.

The role requires a Bachelor’s degree in Finance/Accounting/Real Estate or related field, at least two years’ asset mgmt experience, strong Excel skills, and LIHTC knowledge or certification.

Qualifications

• Bachelor’s degree required; Finance, Accounting, Real Estate, or related field preferred.
• Minimum of two years in asset management, accounting, and/or multifamily affordable industry.
• Proficient with Microsoft Office Suite; heavy emphasis on Excel and Word.
• Excellent communication skills with senior management and external clients.
• LIHTC Compliance Certification is either held or obtainable.
• Valid driver’s license is required.

Responsibilities

• Maintain detailed working knowledge of each property in the portfolio.
• Oversee LIHTC properties from Stabilization through the 15-year compliance period.
• Act as liaison between CREA and operating partners; report to investor partners.
• Collect, review, and provide financial reporting monthly, quarterly, annually.
• Analyze partnership financial statements and perform risk rating analysis.
• Coordinate annual compliance and insurance reviews with third-party consultants.
• Work with a centralized database to track data and produce investor reports.
• Perform annual site visits; up to 10 weeks of travel annually.

Skills

Communication skills

Problem-solving

Time management

Multitasking

Education

Bachelor's degree in Finance, Accounting, Real Estate, or related field

Tools

Microsoft Office Suite

Excel

Word

Job description

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

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.

Requirements

• Bachelor’s degree required; Finance, Accounting, Real Estate, or another business-related field preferred.
• A minimum of two years of working in the areas of asset management, accounting, and/or multifamily affordable 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 a 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.