SUMMARY:The Property Controller will oversee financial operations, including managing and reviewing the monthly, quarterly, and annual accounting and reporting process, for real property, joint venture, and certain upper-tier capital entities. The core values of the Accounting department are collaboration, drive, and accountability. Each member of the team adds value and delivers results; they are proactive in anticipating and solving problems and thrive in a fast-paced entrepreneurial environment.
RESPONSIBILITIES:The Property Controller will manage internal accounting staff and third parties that maintain the books and records of real property operating and investment vehicles. Responsibilities include:
• Establish efficient and effective policies and procedures surrounding the accounting operations and reporting functions for all real property and joint venture entities as well as select upper-tier capital entities
• Supervise and mentor Accounting Manager, Senior and Staff Accountants
• Review and understand deal documents, including partnership agreements, joint venture operating agreements and loan agreements
• Work with other departments on the acquisition and disposition of assets (onboarding and offboarding)
• Oversee the timely and accurate completion of monthly, quarterly, and annual property, joint venture and upper-tier financial statements, debt compliance certifications and investor reporting
• Review and approve monthly project management fee calculations
• Monitor tenant billing process and deliver management reports on accounts receivable
• In partnership with the Asset Management Team, coordinate the preparation of annual budgets, CAM estimates, and operating results and forecasts
• Partner with the Asset Management Team on the preparation and review of annual CAM reconciliations and estimates
• Manage property, joint venture, and upper-tier capital level cash flow needs, including analysis of cash available for distribution
• Oversee the preparation and review of waterfall calculations for joint venture and upper-tier entities, calculation of performance metrics such as IRR and investment/equity multiples, and investor capital call and distribution process
• Oversee the tracking of unfunded capital commitments from investors and equity rollforward schedules by investor including allocation of net investment income (loss)
• Oversee the review and submission of financial reports for tax return and K-1 preparation
• Manage the annual audit process
• Assess the current real property accounting operations and systems and offer recommendations for improvement
Requirements• Bachelor's degree in Accounting or Finance, CPA is a plus
• Minimum 7-10 years accounting experience with a mix of public and private accounting; experience in real estate accounting preferred
• 3+ years managing accounting staff
• Understanding of US GAAP and upper-tier capital legal structures
• Advanced knowledge of CAM reconciliations
• Working knowledge of construction accounting and job cost
• Solid analytical skills, high attention to detail and ability to detect, understand and resolve complex problems
• Self-motivated with a strong work ethic, sense of ownership and follow-through
• Great organizational skills and ability to handle complicated work efficiently and effectively
• Ability to multi-task, prioritize work, and meet deadlines
• Superior written and verbal communication skills
• Skilled at working both independently and in a team-oriented, collaborative environment
• Proficiency in Microsoft Excel, macros is a plus
• Experience with MRI, Yardi, Kardin or equivalent accounting and budgeting/forecasting software
Salary Range: $150-175k
Benefits- Complimentary on-site valet parking
- Catered lunch provided on-site three times per week
- Fully stocked pantry featuring healthy snacks and beverages
- Regular team-building activities and social events
- 100% employer-paid medical benefits for employees
- Comprehensive dependent coverage
- Competitive 401(k) program
- Dog-friendly office environment
- Generous paid holiday schedule
