Accounting Manager | Real Estate | Hybrid

Boston Permanent USD95,000 - USD120,000
  • Hybrid WFH Opportunity
  • Opportunity to grow a team

About Our Client

Our client is is a Real Estate company responsible for commercial properties in the Boston Area and looking to grow their team by adding an Accounting Manager to help oversee Joint Venture Accounting, Acquisitions, Dispositions, and Property Accounting. This position will report into the VP of the company. If you are interested in this hybrid role, please read on and apply below!

Job Description

The Accounting Manager will be responsible for the following on a day to day basis:

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



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 Beacon 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



Property Accounting

  • 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, annual estimates, quarterly and annual reconciliations, cost pools, expense caps, exclusions, gross ups and base year calculations
  • 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



MPI does not discriminate on the basis of race, color, religion, sex, sexual orientation, gender identity or expression, national origin, age, disability, veteran status, marital status, or based on an individual's status in any group or class protected by applicable federal, state or local law. MPI encourages applications from minorities, women, the disabled, protected veterans and all other qualified applicants.

The Successful Applicant

The ideal Accounting Manager - Real Estate will have the following qualifications:

  • 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

What's on Offer

The Accounting Manager - Real Estate will be rewarded with the following:

  • Base salary of $95,000-$120,000
  • Health, Dental and Vision Insurance
  • 3-4 weeks PTO
  • 401(K) Plan with a match of 6%
  • 15% Bonus
  • Hybrid WFH Schedule
  • Added perks
Contact
Erin McQuillan
Quote job ref
JN-052022-5631720

Job summary

Sector
Accounting
Sub Sector
Financial Accounting
Industry
Property
Location
Boston
Contract Type
Permanent
Consultant name
Erin McQuillan
Job Reference
JN-052022-5631720