Property Accountant

Property Accountant

Our client is a leading privately owned real estate company is seeking an accounting professional with 3-5 years of experience to join the company as Property Accountant.

The Property Accountant will assist with accounting and financial reporting of several large commercial and residential real estate assets. The portfolio will also involve the oversight of assets that are outsourced to third-party property management teams.

The candidate should have prior experience in the real estate industry, either working at a public accounting firm as an auditor or working for a real estate company.

In addition to solid technical accounting knowledge, the Property Accountant should have solid analytical skills and an ability to understand complex JV and multi-tier ownership structures.

The ideal candidate will have strong interpersonal and communication skills needed to collaborate with peers as well as a positive attitude and desire to work in a collaborative team-based environment. The position will have the opportunity to assist in other ad-hoc projects as well.

Key Job Responsibilities

To take ownership of all accounting matters related to their properties which would include, but not be limited to:

• Monthly close process from bank recs to variance analysis;
• Preparation of investor and lender reporting including balance sheet, income statement, equity, and cash flows;
• Review of third-party property management monthly reporting packages;
• Year end audit coordination with auditors;
• Annual budget process and coordination with other departments;
• Annual Operating expense (CAM) and Real estate escalation calculations/true-ups;
• Annual Certiorari and RPIE filings.
• Monthly cash projections and coordinating with Asset Management and Treasury for all cash matters;
• Preparation of capital call/distribution letters for investors;
• Preparation of requisition/draw request packages for lenders;
• Foster productive relationships with internal teams (Asset Management, AR/AP, Lease Administration, Legal, Operations, Leasing) and provide accounting support as needed.
• Review documents such as tenant leases, operating agreements (including investment structure), loan agreements, property management agreement and contracts in conjunction with other departments and as needed in normal course of business.
• Review and assist in the preparation of debt covenant calculations (DSCR, LTV, Debt Yield, etc).
• Prepare quarterly equity waterfalls to ensure accurate partnership allocation and promote calculations.
• Participate in initiatives to improve process and procedures.

Qualifications

       Education:

• Bachelor's degree in Accounting or Finance; CPA preferred
  
  Experience:
  

• Experience in real estate industry required
• Minimum of three years of experience.
  
  Skills & Abilities:

• Excellent communication and interpersonal skills, with the ability to work well in a collaborative working environment
• Strong analytical, organizational, and problem-solving skills.
• Strong knowledge of GAAP, IFRS, Tax Basis, financial reporting, and internal controls.
• Proficiency in accounting software and financial management systems (e.g., Yardi, or similar) is preferred.
• Advanced Excel skills for financial analysis and reporting.
• Experience working with AI software (e.g., ChatGPT, Claude).