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. As CREA celebrates over 20 years in business, $9.2+ billion has been raised, contributing to the formation of over 73,000 homes within 797 properties. With over 160 employees, we continue to look for talented and passionate individuals who are excited about opportunities to grow with us into the future.
This entry-level position will play a vital role in supporting the AVP Asset Managers and managing a limited portfolio of assets in the Development phase within CREA, LLC’s portfolio of Section 42 low-income housing tax credit projects. Specific tasks will include:
Support of AVP Asset Managers
Assist in processing monthly construction draws and preparing periodic Equity Installment packages
Special projects and reporting as requested.
Review initial setup data within the centralized database system
Assist in collecting, reviewing, and providing follow-up on reporting requirements, including monthly rent rolls, initial tenant files, quarterly financials, annual budgets, and annual tax returns/audits/audit waivers.
Maintain a detailed working knowledge of each project within the assigned portfolio
Oversee and monitor achievement of benchmarks such as construction completion, qualified occupancy, stabilization, and permanent loan conversion of LIHTC projects from close through receipt of executed 8609s or final release of equity.
Reporting & Technology
Collect, review, and provide reporting on monthly, quarterly, and annual financial information for the lower-tier partnerships
Work with a centralized database system to track project data
Analyze partnership benchmarks and financial statements and perform risk rating analysis
Collect tax returns and audits from the lower tier partnerships and coordinate review and approval through CREA Fund Management Group
Verification that real estate property taxes are paid current Compliance and Tax Credit Delivery
Track, monitor, and calculate credit delivery for partnerships
Monitor projects for compliance with partnership agreements
Maintain a detailed working knowledge of Section 42 LIHTC program compliance requirements
Bachelor’s degree with a major in accounting, finance, real estate, property management, or business
Up to one year of professional-level work experience preferred
Up to one year of experience working in asset management, public accounting, multi-family property management, or development preferred
The ability to identify and verbalize issues with the partners
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.
A valid driver’s license is required for limited travel of up to 5%, with the potential for some overnight.
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 multi-task, prioritize, and meet deadlines
Ability to effectively manage and administer sensitive and confidential information
Must have strong initiative and can work with minimal guidance & supervision
Commitment to excellence, attention to detail, and accuracy, providing high-quality work product
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.
CREA believes in rewarding the hard work of all those that make our mission possible. Learn about our competitive employee benefits at MyCREABenefits.com.