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About the Company: Pacific Urban Residential (‘PUR’) is an industry-leading multifamily investment firm and pension fund manager. Headquartered in northern California’s innovative Silicon Valley, PUR is focused exclusively on the multifamily rental space. The firm has successfully deployed well-timed strategies to the benefit of its institutional partners and stakeholders throughout the Western United States.
Since its inception in 1998, Pacific has completed over $5 billion in apartment transactions on behalf of its own account and those of its strategic institutional partners. Today, PUR has five offices, with over fifty professionals and an owned apartment portfolio in excess of $3.6 billion.
Pacific Urban Residential investment strategies include the acquisition and repositioning of 10 to 50-year-old “vintage” apartment buildings, as well as the acquisition of multi-family investments for current cash flow and long-term appreciation.
Pacific Urban Residential is a subsidiary of The Marcus and Millichap Company. More information can be found at www.purapts.com
Job Description: We are seeking an Accounting Manager to join our team in the Palo Alto headquarters reporting to the Controller. This position will be responsible for developing, training, and mentoring a team of 3-4 Senior Accountants responsible for a portfolio of wholly-owned and joint venture assets. As a member of the Finance & Analytics team, the Accounting Manager must have excellent communication skills and be confident interacting and collaborating with senior management to develop and provide key analytic tools for tracking the performance of assets. The Accounting Manager will develop effective relationships with senior accounting staff of third-party property management companies that operate the properties.
- Supervise direct reports to ensure accurate and timely monthly, quarterly, and year-end closings to meet internal and external reporting deadlines.
- Review equity and loan draws and monitor advances from affiliated companies for timely repayment.
- Understand the recording of transactions into the general ledger for review and approval of monthly/quarterly reporting packages sent to lenders and equity partners.
- Review quarterly and yearend property level financial statements.
- Review quarterly construction and asset management fees.
- Maintain CalPERS joint venture entity books and prepare quarterly consolidated financials and footnotes.
- Review contribution and distributions and create new entities in AREIS (CalPERS) system as needed.
- Monitor sold properties and review final accounting.
- Become familiar with LLC operating agreements to understand waterfall schedules to ensure accurate preparation of equity contribution and distribution calculations.
- Review loan documents for lender compliance reporting purposes.
- Prepare consolidated workbook and review schedules for annual audits and provide audit support as needed.
- Work with the tax department to review and submit tax workbooks and schedules with support as needed.
- Work with third-party property management companies for the preparation of property budgets.
- Advise staff regarding the handling of non-routine reporting transactions including refinancing’s, acquisitions, dispositions, and 1031X.
- Collaborate with asset management team to support overall goals and objectives.
- Review and approve regulatory filings for Sales and Use Tax, Personal Property Tax, Unclaimed Property, and Due Diligence letters.
- Document procedures and streamline processes when possible.
- Support the Controller with special projects and assist in the development and implementation of new procedures and features to enhance the workflow of the department.
- Provide training to new and existing staff as needed.
- Work with direct reports to establish goals and objectives for each year and monitor and advise on their progress to enhance their professional development.
- Handle personnel issues with professionalism and high integrity.
Knowledge / Skills:
- Ability to prioritize and handle multiple tasks with flexibility to adapt and adjust on an ad hoc basis.
- Consolidation, financial statement preparation and analysis, and ad hoc reporting to support management decision making.
- Previous interaction with internal/external auditors.
- Excellent organizational and communication skills, both written and oral.
- Experience in Yardi software is preferred, but not required.
- Intermediate skills using Excel.
- Self-starter capable of finding solutions with minimal supervision but must also be a team player with a collaborative approach.
- Desire to grow professionally and personally.
Qualifications & Education:
- Bachelor’s Degree in Accounting or Finance.
- 4-5 years of prior supervisory experience in financial reporting/general ledger area.
- Real estate experience, multi-family, commercial or retail is required.
- CPA preferred.
APPLY HERE: https://jsco.re/5mfwj