Salary Mid-Point: $135,000
Location: Chicago IL
Job Type: Permanent
Job Description

Creating a culture that inspires change and momentum require the right team.  We know what it takes to lead an industry, and are looking for leaders who seek constant growth, want to excel, and continuously improve upon themselves and the industry.  The culture is built on our shared core values and commitment to be:

Assist the company's deal teams with handling the closings for their real estate portfolio acquisition and disposition objectives as an integral part of a fast-paced reporting team. In addition, this individual will also be responsible managing a team of staff and/or senior accountants, as well as being responsible for the preparation and/or review of acquisition and disposition workbooks and corresponding journal entries.  A successful person in this role  is knowledgeable about real estate principles (GAAP, SEC, fund reporting and elimination/consolidation) – including reviews of third party purchase price allocation reports and appraisals – and has a strong business acumen and the ability to multitask both internal and external requests. This position is based out of Chicago, IL.

  • Comprehend/review newly executed purchase and sale agreements and understand/investigate any accounting consequences as well as the impact of prorations
  • Comprehend/review newly executed joint venture agreements and loan documents and understand/investigate any accounting and/or financial reporting consequences on an asset and fund-level
  • Coordinate supporting information needed with legal teams, title companies, Blackstone’s real estate portfolio companies, lenders, and property managers to prepare closing statements; additional coordination directly 
  • Calculate prorations on transactions for inclusion in the closing statement based on the purchase and sale agreement
  • Draft and finalize internal closing statement to be distributed to the buyer, seller, and title company (reconcile to title company statement); coordinate internal team and buyer review/approval prior to closing
  • For property acquisitions, review accounting system templates to create, setup, and onboard new assets and legal entities
  • For property acquisitions, review third party purchase price allocation reports and review corresponding entries. Ensure the opening entries recorded reconcile to the executed closing documents and other support.  Coordinate with their fund administrator and real estate portfolio companies in order to ensure the completeness of the entries recorded.
  • For property acquisitions, summarize and document the methodologies, assumptions, and overall approach to testing the purchase price allocation reports. Coordinate with third party valuation firms,  valuations team, and Blackstone and/or their real estate portfolio companies’ deal teams in assisting with the purchase price allocation estimates; test key inputs used in the purchase price allocation estimates.
  • Review disposition journal entries and gain/loss calculation and ensure properly recorded by the property managers
  • Actively participate in reviewing reprorations (post acquisition/disposition true ups) within the designated period per the purchase sale agreement
  • Review acquisition/disposition rollforwards and cash flow summary on a quarterly basis
  • Respond to audit inquiries from public accounting firms and act as audit lead related to transaction testing
  • Supervise staff and/or senior accountant(s) and demonstrate leadership skills
  • Perform special ad hoc projects and analysis on a frequent basis
  • Demonstrate ability to gather deal information from a variety of sources and to create and maintain multiple deal and reporting trackers to share with all relevant internal parties for planning purposes
  • Fine-tune team policies, processes, and procedures to ensure consistency, timeliness, and accuracy across all services provided amongst all funds and asset classes
  • Take lead on all on/offboarding meetings with internal/external parties and all relevant stakeholders
  • Enhance/establish review files leveraging current tool set available.
  • Enhance controls and review process across funds and assets.
  • Roll out standardized procedures across funds – define/draft procedure documentation where needed and ensure team’s processes and procedures support the department and organizations goals.
  • Provide recommendations to improve processes and procedures and initiate corrective actions.
  • Partner with senior managers to identify and drive external relationships with the team’s key contacts and stakeholders including third parties.
 Required:
  • Bachelor’s degree in Accounting or related field
  • Minimum 8 years real estate investment accounting experience
  • Excellent communication, problem solving and interpersonal skills necessary
  • Self-starter with strong team leadership and problem-solving skills, the aptitude to think independently, and the motivation to work with multiple teams in a rapidly changing environment
  • Knowledge of US GAAP
  • Ability to multi-task and manage shifting priorities and deadlines, with attention to detail and an ability to work both independently and in a team environment
Preferred:
  • Big 4/Public Accounting experience
  • CPA certification
  • Commercial real estate fund reporting experience
  • Fair value reporting experience
  • Experience in preparing and/or reviewing third party appraisals reports and/or internal valuations
  • Accounting system consolidation experience/knowledge
Benefits:
  • Competitive salary, overall compensation and 401(k)
  • Work-life balance offerings include:
    • Remote work policy
    • Productivity Hours – weekly meeting-free work time
    • Bi-weekly Summer Fridays
  • In-house and external learning & development opportunities
  • Generous health insurance and wellness benefits