COMPANY DESCRIPTION
Founders Properties, headquartered in Minneapolis, is a privately held real estate investment management company with 25 years of experience managing private commercial real estate investments. The firm specializes in industrial properties and manages a portfolio valued at $1 billion, serving high-net-worth and institutional investors. Founders Properties is committed to delivering excellent investment results while fostering a dynamic and professional work environment. For more information, visit www.FoundersProperties.com.
ROLE DESCRIPTION
This role is ideal for an experienced accounting professional with a strong background in real estate financial management, including property accounting, budgeting, and financial reporting. The successful candidate will be responsible for overseeing the financial performance of Founders Properties along with an assigned portfolio of real estate assets, ensuring compliance with accounting standards. As a Finance Associate, you will work closely with asset managers, external auditors, and other third-party business partners to ensure accurate and timely financial reporting. The candidate will be expected to analyze financial data, prepare reports, and assist in the preparation of annual budgets. In addition to strong technical accounting skills, the ideal candidate will have excellent analytical abilities, attention to detail, and effective communication skills. You should be comfortable working in a fast-paced environment, managing multiple priorities, and collaborating with cross-functional teams. This position offers an excellent opportunity to grow within a reputable real estate organization.
DUTIES AND RESPONSIBILITIES
Financial Reporting & Accounting
- Prepare, review and consolidate financial statements for Founders Properties corporate entities and assigned Funds/Properties.
- Prepare, review and consolidate budgets for Founders Properties corporate entities and assigned Funds/Properties.
- Work with property managers and asset managers to ensure accurate and timely recording of financial activity.
- Prepare and review journal entries.
- Oversee accounts receivable and accounts payable processes.
- Prepare monthly bank reconciliations.
- Work with property management companies to resolve property management issues.
- Prepare intercompany rebills to affiliated entities.
Real Estate Business Analysis
- Review executed documents as needed, including partnership agreements, purchase/sale agreements, loan agreements, and leases.
- Prepare and review hurdles, waterfall calculations and Internal Rates of Return (IRRs).
- Prepare and/or review purchase and sale proration information and true up the prorations post-close.
- Review the FAS 141 Accounting for Business Combinations (i.e., recording the acquisition of real estate including intangible assets and liabilities).
- Review tenant reconciliations prepared by property management companies.
Audit and Tax Duties
- Support the audit and tax processes.
- Prepare, review and consolidate tax and audit work papers.
- Prepare, review and consolidate audited financial statements.
- Research technical accounting issues as they arise.
- Respond to external auditors' and tax preparers' questions.
General Administration and Management Support
- Treasury back up for initiating bank wire transfers and other treasury tasks.
- Propose accounting system solutions for new situations that arise.
- Manage and document department reporting policies and procedures.
- Monitor internal controls and implement necessary process improvements.
- Support company processes, policies and ethics and promote a culture that reflects the organization’s values and encourages strong performance and productivity.
- Perform Special Projects as Assigned
QUALIFICATIONS
- Bachelor’s degree in accounting, finance, or other business-related areas.
- Minimum 1-3 years’ experience; real estate industry experience is preferred.
- Strong attention to detail and organization skills along with the ability to effectively coordinate multiple tasks and independently achieve objectives.
- Effective interpersonal, verbal, and written communication skills
- Strong working knowledge of Microsoft Excel.
- Experience with Yardi accounting software is desirable.
WORKING CONDITIONS
- The job is performed in a hybrid environment (in-office and remote).
