Lead Property Accountant

1 week ago

Atlanta, Georgia, United States Portman Full time

COMPANY OVERVIEW

With a legacy spanning over sixty-five years, Portman has carved a niche in the development of diverse projects, including office, hospitality, residential, retail, and industrial spaces. Our extensive portfolio reflects a commitment to crafting high-quality, thoughtfully designed environments that cater to various needs and foster vibrant communities.

Our initiatives not only create significant value for our investors but also enrich the communities we serve. Each project is developed with a focus on sustainability, innovation, and aesthetic excellence, ensuring that our contributions positively impact the urban landscape and enhance the quality of life for residents, workers, and visitors alike. At Portman, we take pride in our ability to integrate multiple functions within a single development, creating dynamic environments that promote economic growth and community well-being.

Founded by renowned architect John C. Portman Jr., the company remains committed to the principles that define its identity: real estate should generate value for its community, owners, and investors; the integrity of design and planning leads to buildings that are functional and timeless. As John C. Portman, Jr. famously stated, "Buildings should serve people, not the other way around."

ROLE SUMMARY

The Senior Property Accountant collaborates closely with the Accounting Manager and is tasked with delivering accounting support to various internal departments and external partners. The responsibilities specific to this role include:

  • Applying generally accepted accounting principles and tax basis (modified accrual basis) for a portfolio of three to five real estate entities within the required reporting timelines set by investors and lenders.
  • Preparing accurate and timely month-end balance sheets, income statements, and cash flow statements that reconcile with the general ledger details.
  • Ensuring the precise and timely recording of monthly transactions through the preparation and posting of journal entries.
  • Conducting monthly account reconciliations for all balance sheet accounts.
  • Preparing bank reconciliations for multiple checking accounts and aligning these accounts with the general ledger.
  • Timely processing of debt service, real estate tax, insurance, and other payments.
  • Assisting with weekly check runs by ensuring daily cash updates.
  • Reviewing and interpreting lease agreements for accurate recording of charges for rents, concessions, CAM charges, etc., and accounting for TI dollar allocations.
  • Understanding the calculation of straight-line rent and maintaining schedules for monthly bookings.
  • Analyzing P&L impacts related to fixed asset schedules while producing records for new additions and tracking accumulated depreciation.
  • Transferring construction in progress to fixed assets.
  • Maintaining joint venture partners' capital/equity accounts and understanding the structure and accounting implications of joint ventures.
  • Comparing monthly actual results to budget and preparing variance analyses to explain material differences.
  • Accounting for property sales and reviewing related settlement statements.
  • Transitioning properties under development into operations, including onboarding Third-Party Managers.
  • Providing accounting support for mergers and acquisitions by reviewing financial information, converting data to the general ledger system, and obtaining supplementary information for financial statement preparation.
  • Collaborating with Asset Management, Property Management, and Accounting in the annual budgeting process and monthly budget reforecast, including capital planning and distribution scheduling.
  • Preparing ad-hoc reports and analyses as requested by the Corporate team and other departments, particularly concerning cash timings for distributions and board presentation data.
  • Assisting asset managers with the financial reporting process and serving as a day-to-day point of contact for lenders, investors, and other internal and external stakeholders.
  • Supporting asset management with financial analysis, including cash flow forecasting, refinancing, and partner buyouts.
  • Assisting auditors and tax preparers with annual audits and tax preparation for operating entities, including fulfilling requested PBC lists, answering inquiries, and providing necessary information.
  • Preparing interim and annual audit documents by gathering and analyzing information from the general ledger system and various departments.
  • Performing other accounting, financial, or administrative tasks as required on short notice.

Additional duties and responsibilities may be assigned at management's discretion.

CANDIDATE PROFILE

The ideal candidate will be a collaborative team player capable of fostering strong working relationships at all levels of the organization. They will possess a robust work ethic, meet deadlines, and maintain excellent organizational skills while managing multiple tasks. Specific qualifications include:

  • A bachelor's degree or advanced degree in Accounting or Finance is preferred.
  • A minimum of 2+ years of accounting experience with a solid understanding of real estate property accounting is required.
  • CPA certification is preferred but not mandatory; relevant experience may substitute for certification.
  • Working knowledge of Yardi is preferred.
  • Strong computer skills, including intermediate proficiency in Excel, Word, Outlook, and Teams.
  • Effective oral and written communication skills for business correspondence.
  • Excellent interpersonal skills that promote teamwork and interdepartmental collaboration.
  • Strong organizational, analytical, and problem-solving abilities.
  • Attention to detail and the ability to meet deadlines are essential.
  • Ability to thrive in a fast-paced environment with multiple competing tasks and demands.
  • Capable of interacting and communicating with individuals at all organizational levels and working both in-office and remotely with limited supervision.

OPPORTUNITY OVERVIEW

This position is based at Portman Holdings' corporate office. Portman Holdings offers a competitive compensation and benefits package, including medical, dental, vision, and life insurance, along with a 401(k) plan featuring a generous employer match.

Portman Holdings is dedicated to fostering a workplace and global community where inclusion is prioritized. We are proud to be an equal opportunity employer, committed to creating a welcoming and diverse environment. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, family status, marital status, sexual orientation, national origin, genetics, neurodiversity, disability, age, or veteran status, or any other non-merit based or legally protected grounds. Portman is committed to providing reasonable accommodations to qualified individuals with disabilities in the employment application process.

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