Newly Created position for a Commercial Real Estate Accountant for Miami based Commercial Real Estate Property and Investment Company
Our client, a Commercial Real Estate Property and Investment company located in downtown Miami, FL is seeking a Senior Commercial Property Accountant. This position reports to the Chief Financial Officer and the Owners of the company. Bilingual English/Spanish preferred. Must have Commercial Real Estate Property Accounting Experience and advanced working knowledge of MRI software.
The Commercial Real Estate Property Accountant must have the following skills and qualifications:
- Bachelor’s degree in Accounting or related field
- Min. 5 to-10+ years commercial real estate accounting experience,
- 5-10 Years of Commercial Leasing Accounting experience in NNN leases and CAM Recs required for the role.
- Detailed-oriented and highly accurate with a reconciliation centered correction of errors.
- Ability to query, run reports and modify data in financial systems in MRI required
- Intermediate to Advanced Excel skills required including pivot tables, macros and system integration tools used to import into Excel for data financial analytical purposes.
- Knowledge and understanding of private equity and financial/banking services industry is helpful.
- Heavy experience desired in accounting for commercial real estate assets preferred; including debt financing and interest accrual methodology, fair value accounting rules for SPV-fund accounting in a private equity, mortgage and/or public accounting firm.
- Team player with ability to work effectively in a team environment.
The Commercial Real Estate Property Accountant will have the following Duties and Responsibilities:
- Maintains commercial real estate fund accounting ledgers and prepares commercial property management reports and financial statements.
- Commercial leasing accounting experience for both NNN and Gross leases with heavy emphasis on reconciliation of the general ledger balance sheet accounts to the tenant sub-ledgers based on lease agreements and related tenant rent rolls & CAM-rec charges including Landlord lease abstracts.
- Agreements; read and understand partnership, trust and fund agreements, real estate purchase and sale agreements and bank and life-company loan agreements and debt covenants for compliance to ensure accuracy of fund equity and debt financial reporting.
- Ensure cash and related transactions include cash projections, cash flow controls and establish processes and procedures for accurate reporting for the A/R and A/P staff.
- Record all commercial loan funding, payments, escrow reserves, and loan settlement transactions. Prepare loan draws and gather support to coordination with property management teams.
- Perform and review daily accounting functions for a variety of real estate investment types, including single-loans, loan portfolios, preferred equity, and operating real estate investments.
- Manage monthly expense accruals, depreciation accruals and related cut-off accrual accounting procedures.
- Monthly and quarterly commercial fund investor reporting, including any required reporting to Co-Investors Interface with operations to identify when hold/disposition assumptions have changed, and accretion adjustments are required to maintain fund accounting ledgers and sub-ledgers.
- Identify and prepare consolidation/elimination journal entries with heavy emphasis on managing intercompany accounts and leveraged commercial portfolio accounting.
- Private Equity; calculate capital calls, waterfalls, capital allocations, special allocations/pick-ups and distributions to ensure accuracy of financial reporting to investors and stakeholders.
Our client offers a highly competitive compensation and benefits package
Key Words: Miami, FL, Commercial Real Estate Investment, Commercial Real Estate Property Management, MRI, CAM, Loan financing, Cash and Accrual basis Accounting