Accounting Manager (Commercial Real Estate) - Daley and Associates

Accounting Manager - Boston, MA - Commercial Real Estate

Our team is working with a leading commercial real estate developer based in Boston to hire an Accounting Manager to their growing team. The Accounting Manager will work hand-in-hand with the 3rd party property teams who manage day-to-day accounting operations. The Accounting Manager will work closely with other members of Accounting, and also with the Acquisitions, Asset Management, Tax, and Finance teams.

Responsible for overall property level accounting including:

• Review 3rd party property accounting for consistency, accuracy and proper accounting 

• Review and approval of operating and tax escalations 

• Manage Loan Compliance

• 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

• Prepare ad-hoc financial analysis and reporting as needed

• 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

• 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

• Work with Disposition team to respond to Buyer diligence requests

• Prepare prorations

• Work with 3 rd party teams to prepare estoppels

• Prepare and record closing entries including gain/loss calculation

• Monitor all post-closing activity for true up with Buyer

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