San Diego, CA
A privately-held commercial real estate owner and operator in North County is looking for an experienced and hands-on Controller who will oversee and co-lead its Accounting department. This person will be a strong multitasker with extensive property accounting experience, ideally in retail, industrial, and/or office projects. This role will also liaise with 3rd party management companies, so the role will include oversight of the assigned properties, plus financial accounting for the corporate entities and the hierarchy of investment-level partnerships that control the operating properties.
Responsibilites
- Review accounting and financial statement reports for 80+ entities, including operating properties and investment-level entities.
- Prepare period-end reports for assigned entities.
- Ensure that all steps on the month-end closing checklist are completed for all property reports.
- Advise and train third-party property management companies on our accounting requirements and processes.
- Create and maintain schedules to support current asset and current liability balances like Prepaid Insurance, Prepaid Taxes, and Accrued Expenses.
- Update depreciation and amortization schedules on a quarterly basis.
- Maintain preferred return schedules by entering capital contributions and distributions, then tying out the balances to those respective equity account balances.
- Complete online banking transfers.
- Input wire transfers.
- Enter and post journal entries. Provide relevant support documentation in Yardi.
- Prepare general ledger account reconciliations.
- Assist in preparing annual budgets and monthly budget-to-actual variance analysis.
- Compile and submit commercial loan escrow draws.
- Respond to lenders’ requests for financial statements, rent rolls, certifications, etc. on a quarterly and annual basis, to comply with loan covenants.
- Complete bank reconciliations.
- Calculate and process asset management fees, construction management fees, supervisory fees, and leasing commissions.
- Monitor property tax payments to ensure all parcels are paid in advance of the due date.
- Enter and post intercompany transactions; reconcile intercompany accounts.
- Review assigned CAM reconciliations.
- Process and file 1099s/1096s annually.
- Prepare and submit filings to the Secretary of State and other State agencies.
- Semi-monthly payroll processing.
- Onboard new hires; process employee final checks.
- Demonstrate leadership and offer guidance to the team members.
Requirements
- Minimum of 5 years’ experience working in a real estate operating/development company or third-party property management company with increasing roles/responsibilities.
- Business Administration, Accounting, Finance, and/or Economics degree required.
- MBA, CPA, and/or public accounting experience preferred.
- Strong communicator, both written and verbal.
- A positive team player able to work within a small-team environment to achieve results.
- Dedicated work ethic that is in alignment with Capstone’s Core Values (see below).
- Adept at accounting research.
- Attention to detail.
- A track record of delivering consistent, accurate, and reliable work.
- The ability to troubleshoot and figure things out is essential to this role.
- Experience overseeing treasury activities.
- Experience independently completing commercial real estate transaction closings, including prorations, reconciliation, closing statements, etc.
- Comprehensive knowledge of cash and accrual accounting and GAAP.
- Comprehensive understanding of investment structures (LLCs and LPs), including calculating capital calls, periodic returns, and waterfalls.
- Experience and understanding of commercial loan documents and managing compliance.
- Knowledge and experience managing full-cycle accounting (inclusive of AP & AR) for real estate business entities.
- Experience overseeing/reviewing budgets, financial statements being prepared by third party property management companies to ensure compliance with company accounting policies and procedures.
Yardi software experience, highly desired.