Asset Manager - Stabilized

CREA, LLC•Indianapolis, IN

5d•Hybrid

About The Position

CREA, LLC is seeking an Asset Manager – Stabilized to join its Asset Management department in the Indianapolis office. The position manages properties in the stabilized phase of CREA’s portfolio of Section 42 low-income housing tax credit properties, from stabilization through the end of the 15-year compliance period. The role monitors property performance and compliance, communicates with operating partners and investor partners, reviews financial information, and conducts annual site visits. The position is in-office Tuesday through Thursday and flexible on Monday and Friday; it is open to candidates in Indianapolis, Indiana. Up to eight weeks of annual travel is expected, with some overnight travel.

Requirements

Bachelor’s degree with a major in accounting, finance, real estate, or another business-related field.
At least two years of work in asset management, accounting, and/or the multifamily affordable housing industry.
Proficiency with Microsoft Office Suite, especially Excel and Word.
Excellent communication skills and ability to interact comfortably with senior management internally and a large external client base.
Ability to identify and verbalize issues with partners.
Currently holds or has the ability to receive an LIHTC Compliance Certification.
Valid driver’s license; travel of up to 20% annually, including some overnight travel, is required.
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.
Strong initiative and ability to work with minimal guidance and supervision.
Commitment to excellence, attention to detail, accuracy, and providing high-quality work products.

Responsibilities

Maintain detailed working knowledge of each property in 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 portfolio operating partners, providing ongoing monitoring and updates to investor partners.
Collect, review, and provide monthly, quarterly, and annual property financial reporting.
Analyze partnership financial statements using Investment Central (MRI) and perform risk-rating analysis.
Perform cash flow analysis and ensure distributions are made timely and in accordance with agreements.
Collect lower-tier partnership tax returns and audits, and coordinate their review and approval through CREA Fund Management Group.
Monitor properties for compliance with partnership agreements and maintain knowledge of Section 42 LIHTC program compliance requirements.
Review general partner requests regarding potential deal changes and prepare formal requests for Investor Relations.
Coordinate annual compliance and insurance reviews with a third-party consultant.
Use MRI to track property data, monitor performance, and produce investor reports.
Complete special projects and reporting as requested.
Conduct annual property site visits and follow up on deferred-maintenance comments until corrected.