Commercial Property Accountant

2 days ago

Jodhpur, Rajasthan, India beBeeAccounting Full time ₹ 60,00,000 - ₹ 1,00,00,000
Property Accounting Specialist

About the Position:

This role entails managing a portfolio of commercial properties, meeting lender, tax, and investor requirements. The Property Accounting Specialist will work closely with 3rd party property teams who manage day-to-day accounting operations using an accounting platform (MRI). They will also collaborate with other members of the Accounting department, as well as the Acquisitions, Asset Management, Tax, and Finance teams.

Key Responsibilities:

  • Oversee overall property level accounting including rent rolls, lease maintenance, cash management, financial reports, annual budgets, quarterly budget re-projections, tax basis amortization, depreciation calculations, and loan compliance.
  • Work closely with 3rd party property teams to ensure consistency, accuracy, and proper accounting practices.
  • Manage Loan Compliance, mortgage payments, lender reporting, debt service coverage ratio calculations, loan and escrow draw, unaudited financial reports, comprehensive audit support, and audited financial statements with footnotes.
  • 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.
  • Cash management including capital calls and distributions.
  • Calculate and process management fees.
  • Calculate income allocations including waterfalls, as required.

Acquisitions:

  • Work with the 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.

Dispositions:

  • Work with the 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.

Skill & Experience:

  • 5-8 years of 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, TRS (Taxable REIT Subsidiaries), tenant recoveries (CAM), and waterfall 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.

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