Asset Manager

Join to apply for the Asset Manager role at CREA, LLC

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. CREA has raised $12.025 billion resulting in the formation of over 88,000 homes within 958 communities across the country. CREA is seeking a talented Asset Manager, Development to join the Asset Management team. The position can be based in any CREA local office;
Boston, MA or Indianapolis, IN are preferred locations.

Physical Presence: In-Office | Tue – Thu;
Flexible | Mon & Fri

Open to: All CREA offices. Boston or Indianapolis preferred.

Reports to: Vice President, Development - Asset Management

This position will play an important role in managing a portfolio of assets in the Development phase within CREA, LLC’s portfolio of Section 42 LIHTC projects.

• Maintain a detailed working knowledge of each property within the assigned portfolio
• Oversee and monitor benchmarks such as construction completion, initial lease-up, stabilization, permanent loan conversion, and receipt of executed 8609s
• Lead Transition Calls for newly closed Partnerships within the assigned portfolio that are either a new relationship and/or an Acquisition Rehab in place
• Track, monitor, and calculate credit delivery including review of occupancy reports, cost certifications, and 8609s
• Monitor properties for ongoing compliance with Partnership Agreements
• Maintain knowledge of Section 42 LIHTC program compliance requirements

• Collect, review, and provide reporting on monthly, quarterly, and annual financial information
• Work with the Investment Central database system to track property data
• Analyze benchmark and financial statements and perform risk rating analysis
• Assist in collecting tax returns and audits, and coordinate review and approval through CREA’s Fund Management Group
• Special projects and reporting as requested
• Review GP requests on potential deal changes and prepare formal requests for Investor Relations
• Ensure projects remain in balance during the development process and identify potential solutions to keep properties in balance when needed
• Coordinate compliance reviews with third-party compliance consultants and perform some compliance work in-house
• Collect and review monthly construction draws and process periodic Equity Installments
• Work with internal and external partners to project future equity timing and needs

• Bachelor’s degree with a major in accounting, finance, real estate, or another business-related field
• Minimum of two years of experience in asset management, accounting, the multifamily affordable industry, or development
• Proficient with Microsoft Office Suite, with emphasis on Excel and Word
• Excellent communication skills and ability to interact with senior management and a large external client base
• Ability to identify and verbalize issues with partners
• Current LIHTC Compliance Certification or ability to obtain
• Valid driver’s license required for limited travel of up to 5% annually, with potential for some overnight

• Relatable experience with Section 42 or similar programs; demonstrate core competencies

• Problem-solving, organizational, interpersonal, and time-management skills
• Ability to identify, simplify, and resolve complex issues
• Strong written and oral communication skills
• Ability to monitor and follow through on requests and projects to completion
• Ability to multitask, prioritize, and meet deadlines
• Ability to manage sensitive and confidential information
• Initiative and ability to work with minimal guidance
• Commitment to excellence and accuracy

• We work as a family, investing in each other and the communities we serve
• We act with integrity, embracing differences and treating others with kindness and respect
• We believe teamwork enables inventive solutions for our clients

• Associate

• Full-time

• Finance and General Business

• Financial Services and Accounting

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