Daley And Associates, LLC
Property Accounting Manager (Real Estate Private Equity)
Daley And Associates, LLC, Boston, Massachusetts, us, 02298
Overview
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 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 Loan and escrow draws Prepare unaudited financial reports as required by the ownership of the property 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 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 Note: Seniority level, Employment type, Job function, and Industry details appear to be meta tags that were duplicated in the original; they have been omitted here to maintain clean, readable content.
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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 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 Loan and escrow draws Prepare unaudited financial reports as required by the ownership of the property 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 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 Note: Seniority level, Employment type, Job function, and Industry details appear to be meta tags that were duplicated in the original; they have been omitted here to maintain clean, readable content.
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