Description
COMPANY OVERVIEW:
Our client is a leading, privately held commercial real estate company that specializes in the development of
multifamily, mixed-use and student housing projects across the United States. Founded in 1999, the firm has
developed over 7 million square feet of improvements representing over $3 billion of asset value. The
company also manages a newly formed equity fund that invests in projects alongside its institutional capital
partners. Our client is headquartered in suburban Philadelphia, with regional offices in Atlanta and Hanover.
POSITION OVERVIEW:
The Controller, Vice President of Finance will lead the company’s accounting, reporting and cashflow
management functions. This is a dynamic, newly created position that will touch all aspects of the firm’s
financial health. The individual will ensure that accounting across the development company, equity fund and
growing portfolio of properties under management is accurately captured, classified, and recorded in financial
statements. The successful candidate will work directly with company leadership and various third-party
vendors, including property-level accountants, the fund administrator, tax and legal counsel. This is an
excellent opportunity for motivated, hands-on individuals to join a small team and contribute to the rapid
growth of an entrepreneurial, privately owned real estate company.
RESPONSIBILITIES:
Development/Parent Company Level:
- Collaborate with leadership to forecast/maintain annual development company cashflow projections
- Maintain capital accounts for all projects throughout the pre-development and development phases
- Oversee client’s internal bookkeeper and step in to assist/teach as necessary (e.g., preparation of checks for payment, QuickBooks entries, procurement of vendor 1099s, bank account formation)
- Manage all banking relationships as the central point of contact; reconcile checking/savings accounts
- Participate in special projects as required by the client’s managing partners
Real Estate Project Level:
- Review monthly third-party property accountant ledgers/reconciliations to ensure accuracy of operating entries; consolidate property-level ledgers into parent company financials via QuickBooks
- Work alongside internal investment team and third-party professionals to accurately record all transaction activity related to acquisitions, financings/refinancings, distributions and divestitures
- Manage debt lender and institutional equity partner compliance obligations, including submission of quarterly and annual financial statements, covenant compliance checks and other ad hoc requests
- File/update annual reports for all entities formed in the U.S. to maintain good standing; dissolve entities upon successful project divestitures
GP Equity Fund Level:
- Draft capital call packages in coordination with company’s internal development project managers
- Collaborate with third-party fund administrator on various workstreams, including: submission of capital call packages, annual valuation of fund assets, coordination between fund-level and project level accounts, periodic investor reports, XIRR calculations, delivery of investor tax returns, etc.
- Act as the primary liaison to the firm’s outside tax professionals; review tax returns for consistency with internal financial reports; coordinate with fund administrator and investors on status of returns
- Manage and facilitate schedule of fund-level and JV asset management fees owed to company
QUALIFICATIONS / SKILLS:
- 7-10+ years private/public accounting experience (preferably in real estate, infrastructure or PE)
- BA/BS degree in accounting, business, finance or related field
- CPA required
- Strong PC skills and excellent knowledge of QuickBooks, Microsoft Word, Excel and PowerPoint
- Ability to work in an entrepreneurial environment, prioritize work, multi-task, meet deadlines and collaborate effectively with internal and outside consultants, vendors and investors
- Experience implementing and maintaining policies and procedure
- Strong quantitative & analytical skills, attention to detail and an understanding of how to interpret detailed financial statements and analyses
- Excellent interpersonal skills, oral and written communication skills
Experience
7+ to 10 years
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