Commercial Property Financial Manager

1 week ago

Dombivli, Maharashtra, India beBeeAccountant Full time ₹ 20,00,000 - ₹ 25,00,000
Property Accountant Role

About the Opportunity:

The successful candidate will be responsible for managing a portfolio of commercial properties, owned by various Funds and Joint Ventures. They will meet lender, tax, and investor requirements through day-to-day accounting operations using MRI software.

Key Responsibilities:
  • Overall property level accounting, including reviewing third-party property accounting for consistency, accuracy, and proper accounting.
  • Rent rolls and lease maintenance, cash management, financial reports, annual budgets, and quarterly budget re-projections.
  • Tax basis amortization and depreciation calculations, providing support to third-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, Loan and escrow draw, and prepare unaudited financial reports.
  • Provide comprehensive audit support, prepare audited financial statements with footnotes (FV and Tax basis), as required.
JV Accounting:
  • Review and comply with operating agreements, prepare financial reporting on a consolidation or combined level, as required.
  • Cash management, capital calls, and distributions, calculate and process management fees, income allocations, including waterfalls.
Acquisitions:
  • Work with Acquisitions team to review diligence materials, review settlement statements, prorations, and buyer/seller credits.
  • Review estoppels, record opening entries, monitor post-closing activity for true up with Seller, onboard properties and train third-party teams.
Dispositions:
  • Work with Disposition team to respond to Buyer diligence requests, prepare prorations, work with third-party teams to prepare estoppels.
  • Prepare and record closing entries, including gain/loss calculation, monitor post-closing activity for true up with Buyer.

Required Skills & Qualifications:

  • 5-8 years of property accounting experience in commercial real estate, experience with Funds and/or Joint Ventures.
  • Fair value GAAP, tax accounting, IFRS, and TRS (Taxable REIT Subsidiaries) knowledge is a plus.
  • Proficient with tenant recoveries (CAM), understanding of waterfall calculations, year-end audit, loan compliance, and financial software systems applications.

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