Managing Director, Special Assets

Company: Shelby American, Inc.
Location: Indianapolis
Posted on: May 24, 2025

Job Description:

DescriptionCREA, LLC is a full-service low-income housing tax credit ("LIHTC") syndicator with nearly 25 years of experience in affordable housing. We have raised $12.025 billion, resulting in over 88,000 homes across 958 communities nationwide. With a dedicated team of over 145 employees, CREA seeks talented and passionate individuals to join us and grow with the company. We are currently looking to add a talented Managing Director to the Special Assets department in either Boston, MA, or Indianapolis, IN.Physical Presence: In-Office - Tue - Thu; Flexible - Mon & FriOpen to the following CREA office locations: Boston, MA, or Indianapolis, IN.Reports to: PresidentPosition Summary:This role is crucial for managing workouts within CREA's portfolio of Section 42, LIHTC projects. The Managing Director, Special Assets, oversees complex LIHTC real estate transactions, develops strategic plans to protect investor interests, ensures project compliance and financial performance, and manages disputes, defaults, and litigation. The candidate will maintain detailed project knowledge, perform risk analysis, and collaborate with internal teams, external stakeholders, and regulatory agencies. Responsibilities include financial and compliance reporting, construction draw processing, site inspections, and maintaining the SA Policies & Procedures Manual.Primary Responsibilities:

• Manage transactions assigned to the SA Department
• Develop and implement strategies to preserve LIHTC for CREA's investors
• Maintain detailed knowledge of each project in the SA portfolio
• Oversee and resolve disputes, litigation, defaults, and breaches for LIHTC projects in SA
• Review and analyze financial information from lower-tier partnerships
• Provide regular reporting on project status and performance
• Coordinate with senior leadership on project updates and resolutions
• Utilize CREA's database system to track project data
• Perform risk rating analysis on partnerships
• Collaborate with general partners, property managers, lenders, and regulatory agencies
• Process construction draws and equity installments as needed
• Review tax returns and audits, coordinating with Asset and Fund Management departments
• Conduct site visits quarterly, addressing deficiencies until properties are stabilized
• Coordinate compliance reviews with third-party consultants
• Ensure projects adhere to partnership agreements and maintain proper taxes and insurance
• Manage investor updates and consent documentation
• Assist in transferring transactions to and from SA with Asset Management
• Maintain and update the SA Policies & Procedures Manual
• Perform additional duties and projects as assignedRequirements

• Bachelor's degree in accounting, finance, or business; Master's preferred
• Minimum of ten years' experience in Asset Management related to LIHTC projects, especially partnership workouts
• Experience in multi-family property management is a plus
• Understanding of compliance and LIHTC partnership agreements; Valid LIHTC Compliance Certification required
• Proficiency in Microsoft Office, especially Excel and Word
• Excellent communication and interpersonal skills for interactions with management, clients, and vendors
• Willingness to travel up to 40%, including overnight stays
• Ability to work extended hours during peak periodsCore Competencies:
  • Strong analytical, judgment, and time management skills with a collaborative approach
  • Ability to build positive relationships across teams
  • Clear and professional communication skills
  • Discretion handling sensitive information
  • Self-motivated and able to operate independently
  • Professionalism in challenging conversations to uphold CREA's reputationOur Values:
    • We work as a family, investing in each other, worthy causes, and communities
    • We act with integrity, embracing differences and treating others with kindness and respect
    • We believe teamwork and inventive solutions can accomplish anything
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Keywords: Shelby American, Inc., Lafayette , Managing Director, Special Assets, Accounting, Auditing , Indianapolis, Indiana