The Property Accountant will be responsible for managing the financial accounting (accrual basis) of an assigned portfolio of properties in a fast paced environment. This position will be primarily responsible for generating building level financial statements and variance analysis for Senior Executives and Business Operations personnel, researching and analyzing specific property information and trends for ultimate use in reports for investors, banks, and other regulatory agencies and recording building expenses and verifying invoices. These financial accounting responsibilities will be performed to comply with Generally Accepted Accounting Principles and the Company’s Sarbanes-Oxley internal control documentation. This position will interact with other corporate departments and field personnel related to the assigned portfolio.
Obtain, review and analyze property lease agreements, including: review of new leases, amendments, modifications, renewals, and termination agreements
Verify fully executed lease documents to approved lease parameters
Determine applicable lease information for use in calculating the net effective rent for each new lease
Calculate operating expense reimbursement billings (estimates, reconciliations, and year-end accruals) for specific properties, taking into consideration budgets, adjusting for occupancy, specific expense exclusions and other clauses
Determination of monthly revenue and expense accruals based on an analysis of trends, timing and general ledgers of assigned portfolio; requires the ability to interact with operations personnel and translate discussions into impactful accounting decisions
Review building expenses for proper coding and research variances, engaging with field personnel to resolve potential issues/discrepancies
Perform operating revenue and expense variance analysis, comparing multiple periods as well as forecasted and actual results for use by field personnel and executive management
Provide recovery analysis for discretionary building costs to help optimize recoverability which includes discussions with property managers to understand the impact of certain costs
Review of annual building budgets; understanding year-over-year changes and trends
Strong attention to detail with the ability to analyze significant financial information. General Ledger experience. Ability to thrive in an environment of complex calculations. Assume responsibility for the accuracy and timeliness of work. Excellent organizational and time management skills. Excellent verbal and written communication skills. Ability to appropriately prioritize multiple tasks. Strong skills in analyzing and interpreting lease contracts and related financial data.
Bachelor’s degree in accounting, finance, or related field. 2+ years of experience in accounting, finance, or analytical capacity, preferably in the real estate. General Ledger experience is required. Experience with J D Edwards software preferred.
This job operates in an office setting; routinely uses technology tools such as computers and video conferencing equipment.
The physical demands described here represent those that an employee must meet to perform the essential functions of this job successfully. Work is of a general office nature; while performing the duties of this job, the employee is regularly required to talk, hear, and see; required to use arms and hands to reach and handle; typing on a computer keyboard and using a phone required. Ability to read, understand, and communicate information and ideas clearly in writing and orally required. The employee may occasionally need to climb, balance, stoop, kneel, crouch, and lift and/or move up to 10 pounds.
Highwoods Properties, Inc. is a fully integrated office real estate investment trust (REIT) that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Charlotte, Nashville, Orlando, Pittsburgh, Raleigh, Richmond, and Tampa. The company owns about 27.4 million sq. ft. of leasable space and has about a 90% occupancy rate. Its largest tenants include the federal government, Bank of America, and Bridgestone Americas.