The Director of Portfolio Accounting and Asset Management will be responsible for property level accounting and asset management related activities for a given portfolio of shopping center properties, ensuring month end close and monthly reporting packages are completed according to schedule. The role will also require analytical skills to assist in the underwriting of acquisitions of real estate, as well as investments in real estate and non-real estate related companies.
Assist with analysis of potential investments in real estate and non-real estate related companies.
Prepare Owner distribution calculations, including waterfall calculations to include preferred return, return of capital, and promote.
Prepare Monthly and Annual Investor Reporting, including paid and unpaid/accrued preferred return balances, beginning and current capital balances, current debt status, and other JV partnership metrics.
Conduct all month end closing activities for a given portfolio of properties.
Prepare annual operating budget for properties, with assistance from third party property manager and Partners.
Prepare and sign off on monthly, quarterly, and annual P&L, Balance Sheet, Cash Flow Statements, and Rent Roll for properties.
Oversee Accounts Payable and Accounts Receivable for properties.
Ensure loan compliance and prepare and submit required lender reporting for a given portfolio of properties.
Set up new bank accounts for acquired properties, including online administration.
Perform monthly bank account reconciliations for the portfolio’s operating bank accounts.
Ensure all tenant billing information is accurate prior to sending monthly statements.
Ensure payment/disbursements of monthly recurring transactions to include mortgage payments, insurance payments, and ground rent
Ensure payment/disbursements of non-recurring transactions to include property taxes and other annual payments.
Calculate monthly management fee due to third party property manager.
Prepare calculation of annual CAM reconciliations and Tax Recovery calculations and corresponding tenant billings
During redevelopment/renovation projects, track expenses versus proforma budget expenses, including spent to date and remaining to spend.
During redevelopments/renovation projects with a project loan, prepare monthly loan draw requests.
Ensure all entity level annual reports are filed with appropriate state agencies.
Coordinate annual financial statements, bank statements, and GL with tax accountant to ensure smooth tax return filings and k-1 production for investors.
Track tenants’ certificates of insurance and compliance of same. Administer additions and deletions to and from property and general liability master insurance policy
Assist in acquisition due diligence, to include review of existing budgets, income and expense statements, and tenant reconciliations.
Ability to learn other areas of the business to gain a broader understanding of the overall business and the impact of the decisions made within Portfolio Accounting, the impact/value of the associated analytics and data, and end to end processes.
RISE CORPORATE ACCOUNTING
Maintain Rise checking account and reconcile it monthly.
Oversee Accounts Payable (activity is limited and mostly recurring, such as rent, health insurance, leased IT equipment, etc.).
Track Partner capital contributions.
Track Partner distributions.
Oversee Accounts Receivable (mostly pursuit costs/earnest money deposits for new acquisitions).
Maintain GL and book entries, including fees received and expenses.
Prepare monthly reports to Partners, including P&L, balance sheet, cash flow statement, and Partner capital account activity/balances.
The role requires a demonstrated level of maturity and discretion. Five+ years of direct experience managing property level and real estate partnership level accounting is required. A bachelor’s degree in a related field is required; a master’s degree and/or CPA designation is a plus.
About Rise Partners
About Rise Partners
With offices in Chattanooga, Tennessee, and Charlotte, North Carolina, Rise Partners is a commercial real estate investment and development firm that has acquired and repositioned more than $100 million in retail real estate assets across the Southeast and Mid-Atlantic since its inception in 2017. Collectively, the principals of Rise Partners have managed more than 30 million square feet of retail real estate, completed more than 10 million square feet of development and redevelopment projects, and underwritten and closed acquisitions totaling $7 billion. Their experience spans a multitude of property types, including large regional power centers, regional malls, grocery-anchored neighborhood centers, community centers, single-tenant net-leased buildings, distribution centers, office buildings and mixed-use developments. Rise Partners is passionate about serving the needs of its retail partners and the communities in which it invests and develops.