Asset Manager, Development
Locations: Boston, MA; Indianapolis, IN.
About the Employer
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 over 20 years in affordable housing, CREA has raised $11.2 billion, resulting in the formation of 84,000+ homes within 924 communities across the country. With over 150 employees, CREA continues to seek talented and passionate individuals excited to grow with the organization .
Role Summary
This position plays an important role in managing a portfolio of assets in the Development phase within CREA, LLC’s portfolio of Section 42 low-income housing tax credit projects.
What You’ll Do
Portfolio Management
- Maintain a detailed working knowledge of each property within the assigned portfolio
- Oversee and monitor the achievement of 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 a detailed working knowledge of Section 42 LIHTC program compliance requirements
Reporting & Technology
- 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
- Complete special projects and reporting as requested
Risk Management
- 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
Draws & Funding
- Collect and review monthly construction draws and process periodic equity installments
- Work with internal and external partners to project future equity timing and needs
Required Qualifications
- 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
- Proficiency with Microsoft Office Suite, with a heavy emphasis on Excel and Word
- Excellent communication skills and the ability to interact comfortably with senior management and a large external client base
- Ability to identify and verbalize issues with partners
- Currently has or has the ability to obtain a LIHTC Compliance Certification
- Valid driver’s license required, with limited travel of up to 5% annually and potential for overnight travel
Preferred Qualifications
- Relatable experience working with Section 42 (low-income housing tax credit or similar programs)
Required Criteria
- 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 on requests, projects, and problems to completion
- Ability to multitask, prioritize, and meet deadlines
- Ability to effectively manage and administer sensitive and confidential information
- Strong initiative and ability to work with minimal guidance and supervision
- Commitment to excellence, attention to detail, and accuracy, providing high-quality work product
How to Apply
Apply Now. CREA believes in rewarding the hard work of all those who make the mission possible. Learn more about competitive employee benefits at MyCREABenefits.com.