Details
Posted: 05-May-22
Location: Chicago, Illinois
Type: Full Time
Categories:
Accounting
We are searching for a Senior Accountant with strong real estate experience to assist with the firm’s accounting for real estate investment properties and funds. The firm’s investment property portfolio includes open-air retail strip centers in the Midwest, Southwest, and Southeast held in closed-ended funds and programmatic joint ventures. The Senior Property Accountant reports directly to the Controller and CFO.
We are a boutique commercial real estate firm located in the River North area of Chicago committed to achieving internal efficiency and performance excellence by hiring smart and ambitious individuals in every department of the firm. We are small but growing, and this candidate will have the opportunity to evolve with the firm and participate in all levels of the real estate cycle (acquisition, property and asset management, reporting, disposition) to grow expertise not just as a real estate accountant but real estate professional. Compensation package will include a competitive base salary, insurance benefits, 401k and opportunity to earn shares in fund performance-driven bonuses.
The right candidate will be a self-motivated individual who is accurate, takes initiative and pride in their work with exceptionally strong technical and analytical skills. The opportunity is ideal for someone with a strong property accounting background looking to leverage that skillset but expand their expertise to fund/investor accounting and performance measurement.
Duties include:
Fund/Property Accounting
- Book journal entries and tenant receipts
- Complete monthly bank reconciliations
- Manage month-end close
- Prepare monthly property financials
- Calculate and record property management fees, construction management fees and investment management fees
- Manage opening and closing entries when acquiring and disposing an asset
- Track escrows and initiate/oversee escrow disbursements
- Coordinate with Property Managers on variance reports, AR/bad debt review, and lease activity
- Track and support daily utility activity
- Prepare monthly cash flow forecast
- Calculate quarterly investor distribution
Quarterly Reporting
- Prepare consolidated Fund financial statements in accordance with Fair Value GAAP
- Prepare Investor Statements and Questionnaires
Annual Projects
- 1099 preparation and remittance
- Manage Property Operating Expense reconciliations
- Prepare audit deliverables and act as first point of contact for property accounting questions
Corporate Accounting and Administration
- Reconcile/record corporate credit card activity including intercompany expenses
- Facilitate LLC tracking for corporate, fund and properties entities
Systems Management
- Become expert in accounting and AP software
- Continually improve upon and document processes
- Take on leadership role with regards to communicating with and training fellow staff on systems and process enhancements
Personal Skills
- Team player with positive attitude
- Dedicated to achieving firm goals’ of excellence and efficiency
- Participate in ad hoc team lunches, summer and winter events
- Willingness to work late if necessary to meet deadlines
Job Qualifications:
- Bachelor’s degree in Accounting, CPA preferred, and at least 4 years of experience in commercial real estate property or fund accounting required
- Public Accounting experience a huge plus!
- Strong quantitative and technical/computer skills and proficiency in Microsoft Excel and Word required; experience with commercial real estate software such as Yardi, Argus, and PowerPoint a plus
