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Property Accountant

5 months ago

Calabasas, United States NewMark Merrill Full time

At NewMark Merrill, our unwavering commitment to "Doing Retail Better" has been the cornerstone of our success over the past 40 years. Through shifting landscapes, economic fluctuations, and industry disruptions, we remain steadfast in our dedication to connecting with communities, cultivating authentic environments, and empowering our tenants to thrive. With offices in Denver, Los Angeles, Sacramento, San Diego, and Chicago, NewMark Merrill proudly owns and manages over 12 million square feet of retail assets, comprised of over 2,000 tenants across 95 communities.

As a boutique-sized firm, we offer the best of both worlds: the efficiency of large portfolio economies of scale combined with the agility of swift decision-making and personalized attention from senior leadership. We are more than just landlords; we are partners in success. By fostering close relationships with communities, engaging directly with our merchants and shoppers, and investing in innovative technology and data collection, we provide invaluable insights that empower our tenants to thrive in our centers.

By deeply understanding the communities we serve and leveraging world-class technology, we maximize value and curate exceptional experiences that transform visitors into loyal customers. Our commitment to excellence extends beyond transactions; it's about creating lasting impact and fostering sustainable growth.

Above all, it's our people who propel NewMark Merrill to new heights of success and innovation. They are ambitious and talented individuals that bring their passion and expertise to our daily endeavors. We promote a welcoming team-oriented environment where we lead with innovation, address challenges head-on, encourage out-of-the-box thinking and celebrate our successes.

At NewMark Merrill we strive to elevate the retail experience, one community at a time. We invite you to join us on this journey as we continue to redefine the possibilities of retail.

Go to www.newmarkmerrill.com to learn more about the company and its culture.

Position Summary

At NewMark Merrill Companies, our Property Accountants play a crucial role in managing the day-to-day financial responsibilities for a retail real estate portfolio that includes approximately 8-10 properties.

Position Responsibilities

  • Prepare timely and accurate monthly and annual financial statements and review general for all properties and review general ledgers to ensure correct entries for accounts receivable, accounts payable, and journal postings.
  • Prepare and analyze any necessary supporting schedules in relation to the preparation of the monthly financials.
  • Conduct balance sheet reconciliations and monthly bank reconciliations.
  • Analyze and prepare annual CAM reconciliations and review, analyze and respond to tenant disputes related to CAM charges.
  • Review leases to bill tenants accurately and make any necessary adjustments.
  • Perform calculations for CPI and percentage rent.
  • Collaborate with property managers to draft annual budgets and calculate CAM estimates for tenants.
  • Handle lender reserve draws for reimbursement related to tenant improvements, leasing commissions, and capital expenditures.
Requirements
  • Bachelor's Degree in Accounting and 3-5 years of experience in property management accounting including the preparation of CAM reconciliations
  • Strong organizational skills and attention to detail with the ability to multi-task
  • Excellent communication skills - both verbal and written
  • A high level of proficiency in Excel
  • MRI or Yardi accounting software experience preferred
  • Team oriented and flexible with the ability to work well under pressure