Property accounting manager real estate private equity Job at Daley And Associates, LLC., Boston, MA

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  • Daley And Associates, LLC.
  • Boston, MA

Job Description

Property Accounting Manager - Boston MA - Private REIT

 

Our team is working with a leading private real estate fund located in Boston looking to hire a Property Accounting Manager to their growing team. The Property Accounting Manager will be responsible for a portfolio of commercial properties, owned by various Funds and Joint Ventures, and meeting lender, tax, and investor requirements. The Accounting Manager will work hand-in-hand with our 3rd party property teams who manage day-to-day accounting operations using our accounting platform (MRI) as well as other members of Accounting, Acquisitions, Asset Management, Tax, and Finance teams.

This role is a full time hybrid position (3 days in the office & 2 days at home) position that will offer up to $140K base, 15% bonus & strong benefits. If you are interested in this opportunity, please reach out to Vincenzo Kulturides directly at vkulturides@daleyaa.com

 

ESSENTIAL FUNCTIONS

Responsible for overall property level accounting including:

  • Work closely and oversee 3rd Party Property Teams

  • Review 3rd party property accounting for consistency, accuracy and proper accounting rent rolls and lease maintenance

  • Cash management including weekly check fundings

  • Financial reports

  • Annual budgets and quarterly budget re-projections

  • Tax basis amortization and depreciation calculations

  • Provide support to 3rd party MRI users

  • Review and approval of operating and tax escalations

 

Manage Loan Compliance

  • Mortgage payments

  • Lender reporting including debt service coverage ratio calculations

  • Loan and escrow draws

 
  • Prepare unaudited financial reports as required by the ownership of the property

  • Provide comprehensive audit support

  • Prepare audited financial statements with footnotes (FV and Tax basis), as required

  • Work with construction professionals to provide accounting for development projects

  • Prepare ad-hoc financial analysis and reporting as needed

 

Joint Venture Accounting

  • Review and comply with operating agreements

  • Prepare financial reporting on a consolidation or combined level, as required, including audited financial statements with footnotes (FV and Tax Basis)

  • Cash management including capital calls and distributions

  • Calculate and process management fees

  • Calculate income allocations including waterfalls, as required

 

Acquisitions

  • Work with Acquisitions team to review diligence materials

  • Review settlement statements including, prorations and buyer/seller credits

  • Review estoppels

  • Record opening entries

  • Monitor all post-closing activity for true up with Seller

  • Onboard properties and train 3rd party teams on financial standards and reporting

 

Dispositions

  • Work with Disposition team to respond to Buyer diligence requests

  • Prepare prorations

  • Work with 3rd party teams to prepare estoppels

  • Prepare and record closing entries including gain/loss calculation

  • Monitor all post-closing activity for true up with Buyer

 

SKILLS AND EXPERIENCE

  • Bachelor’s Degree in Accounting/Business

  • 5 years property accounting experience, with the majority in commercial real estate

  • Experience with Funds and/or Joint Ventures

  • Experience with fair value GAAP, tax accounting. IFRS a plus

  • Experience with TRS (Taxable REIT Subsidiaries) a plus

  • Proficient with tenant recoveries (CAM)

  • Understanding of waterfall calculations

  • Experience in year-end audit including preparation of financial statements and footnotes

  • Experience with loan compliance including loan-draw and escrow-draw packages, covenant calculations

  • Proficiency with financial software systems applications and proficiency with Microsoft Windows software programs, MRI experience a plus

    #LI-VK1
    #LI-HYBRID

Job Tags

Full time, Work at office,

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