Commercial Real Estate Accountant

3 days ago

Erode, Tamil Nadu, India beBeePropertyAccountant Full time ₹ 90,00,000 - ₹ 1,20,00,000

Job Summary:

We are seeking an experienced Property Accountant to join our team. As a Property Accountant, you will be responsible for managing the financial aspects of commercial properties owned by various funds and joint ventures.

The successful candidate will have a strong understanding of accounting principles and practices, as well as excellent analytical and problem-solving skills.

Key Responsibilities:

  • Manage property-level accounting, including rent rolls and lease maintenance.
  • Perform cash management, including weekly check fundings and financial reports.
  • Prepare annual budgets and quarterly budget re-projections, tax basis amortization and depreciation calculations.
  • Provide support to 3rd party MRI users and 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 draw, 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 Beacon construction professionals to provide accounting for development projects.
  • Prepare ad-hoc financial analysis and reporting as needed.

Requirements:

  • 5-8 years property accounting experience, with the majority in commercial real estate.
  • Experience with Funds and/or Joint Ventures, fair value GAAP, tax accounting, IFRS a plus, 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.
  • Ability to work independently and communicate effectively, ability to work in a fast-paced environment.
  • Detail oriented and ability to multitask and prioritize, proficiency with financial software systems applications and proficiency with Microsoft Windows software programs, MRI experience a plus.

Benefits:

  • Opportunity to work with a dynamic team and contribute to the success of the company.
  • Competitive salary and benefits package.
  • Professional development opportunities.

Other Opportunities:

  • 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.

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