Real Estate Fund Accounting Manager

4 weeks ago

Cincinnati, United States 1045 LLC Full time
Job DescriptionJob Description

Company Overview

Essential Growth Properties is a real estate investment management platform acquiring grocery-anchored shopping centers on behalf of our investment Funds. The focus within Essential Growth Properties is on grocery-anchored shopping centers with the following characteristics: i) assets located in highly convenient locations near the consumers’ homes, places of work, or other stable traffic drivers; ii) assets leased to primarily internet and Amazon resistant retailers; and iii) a combination of stabilized assets and undermanaged/undercapitalized/value add opportunities. This strategy takes advantage of the structural trends in the retail landscape and offers a tremendous opportunity for investors. Essential Growth Properties was named a “Best Places to Work” finalist in 2023, based on the company culture, accelerated growth, and achievements.

Opportunity

Real Estate Fund Accounting Manager

Responsibilities

  • Fund Administration
    1. Align with third-party fund administrators to ensure accurate and timely execution of fund financial information
    2. Facilitate interface of third-party fund administrators with banking institutions for wire transfers, investor payments and vendor payments
  • Financial Reporting
    1. Closely monitor all elements of financial performance
    2. Preparation of monthly internal and quarterly investor financial documents (Balance Sheet, Income Statement, Cash Flow)
    3. Lender Reporting as required by terms of various loan agreements
  • Variance Analysis
    1. Monthly review and reporting of significant variances versus budget and/or prior periods
    2. Identification of variances as due to temporary timing adjustments or fundamental changes to the business
    3. Develop analytical tools to allow leadership to better understand the state of the portfolio
  • Cash Flow Forecasting
    1. Translate operating performance to produce cash flow forecasts and re-forecasts
    2. Partner with VP, Finance and Asset Management team to identify risks/opportunities in business operations
  • CAM Reconcilations
    1. Review tenant billings vs. actual operating expenses, real estate taxes and insurance costs
    2. Ensure tenant billings are compliant with terms of leases or POA documents
    3. Ensure tenant billings are delivered to tenants on a timely basis

Qualifications

  • Bachelor’s Degree in Accounting or Finance, CPA preferred
  • 5 -10 years of experience in related field
  • Proficiency in Accounting ERP systems (Yardi, QuickBooks experience a plus) and investor platforms (Juniper Square experience a plus)
  • Proficiency in Microsoft Excel and systemic integration with Accounting ERP systems
  • General understanding of real estate finance, property valuation, tax, and private equity financial reporting
  • Ability to decipher the financial terms of lease and loan documents
  • Ability to effectively work with third-party property managers, accountants and fund administrators
  • Strong ability to manage varied and constantly changing workload in a fast-paced, dynamic, entrepreneurial environment
  • Excellent communicator
  • Ability to set personal and project-specific priorities, be highly organized in day-to-day and longer-term planning and execution.
  • Enjoys working both independently and as part of a team with professionals at all levels

Compensation and Benefits

Essential Growth Properties’ Real Estate Accountant position will include an excellent benefits package that includes medical, dental, life, and 401(k). It will provide a competitive salary based on candidate’s experience.

About Essential Growth Properties

What makes a place great? Essential Growth Properties combines cross-functional and vertical expertise within the grocery-anchored retail sector, with decades of experience leading real estate for major retailers, owning and creating value with grocery-anchored centers, and leading property & asset management for thousands of assets across the country. Driven from this background, Essential Growth Properties is humble and grateful for the opportunity to engage in our communities through the ownership of essential shopping centers and will develop a culture supporting this belief as it builds out its team in Cincinnati. Through passionate customer relationships, trusted investor partnerships, and premier property management, Essential Growth Properties and our investors will succeed, and our communities will thrive around essential retail destinations supporting their lives.

Essential Growth Properties will be building out a high-performing team and exciting culture in Cincinnati in 2024 and beyond to help support our acquisition of properties through our platform of Funds.

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