BACKGROUND:Menlo Equities is a private, commercial real estate investment company primarily operating in western U.S technology-driven submarkets including: Silicon Valley, Los Angeles, Orange County, San Diego, Seattle, Portland, Phoenix, Boulder, Raleigh-Durham, Minneapolis, Washington DC, Boston and Austin. Founded in 1994 and headquartered in Menlo Park, California, Menlo Equities is a vertically integrated commercial real estate company engaged in the acquisition, development and operation of commercial office properties. Since its founding, Menlo Equities has acquired or developed over 100 properties with a total capitalized value of approximately $5.5 billion. Our current assets-under-management (AUM) is $2.3 billion. We are the landlord to many large corporations including such household names as: Apple, Palo Alto Networks, LG, Alcon, Disney, Restoration Hardware, Hitachi Data Systems, Abbott Labs, Panasonic, Indeed.com and Fuji. Our mission is to be the premier boutique private equity firm focused on generating best-in-class, risk-adjusted investor returns in the office/R&D sector. We offer specialized real estate services with highly competent team of professionals. Our core investment strategy is to acquire well-located, office/R&D properties in high barrier to entry technology-oriented markets.
DESCRIPTION:We are currently seeking a Senior Property Accountant to join our accounting team located in Menlo Park, CA. The position is responsible for ensuring continued accurate accounting and reporting for Menlo s managing and operating real estate entities. This is a position that can offer the right candidate a wide range of accounting exposure and responsibilities. Your responsibilities will include, but are not limited to the following: General Ledger and Financial Reporting
- Tax and/or GAAP basis accounting for ten plus commercial real estate entities as well as multiple upper tier and fund level entities
- Assist in preparing and maintaining schedules for mid-year and year-end audits
- Maintain and ensure internal controls are operating effectively
- Researches and answers Property Managers questions regarding tenant statements.
- Reviews accounts receivable aging for delinquencies, cash applications and prepaid rent application.
- Calculates and enters monthly contract item accruals such as janitorial, security and utility expenses to match expenses to period incurred, and review trial balance for reversing of same entries in next accounting period.
- Calculates and enters CAPEX entries.
- Prepares balance sheet tie-out to balance the general ledger and commercial management systems.
- Prepares Preview Statements and distributes to field to ensure following month s recurring charges and past due charges are accurate.
- Calculates and records appropriate depreciation and amortization of fixed assets, tenant improvements, and leasing commissions.
- Work closely with Menlo Equities third-party tax preparers to ensure all tax reporting deadlines are met
- Preparation of quarterly tax estimates for responsible entities
- Calculation and completion of FAS/Yardi depreciation
- Monitor investor withholdings and work with the Franchise Tax Board to ensure the company maintains good standing with applicable states
- Assist in the quarterly distribution process
- Assist in the preparation of the annual financial review materials
- Work closely with the Treasury Director and Controller on the Advanced Budgeting and Forecasting System as well as the quarterly property cash flow analyses
- Work with the Controller to develop accounting policies and procedures
- Assist in projects requested by senior management
- Bachelor s Degree in Business Administration, Finance or Accounting
- Certified Public Accountant is a plus
- 2-4 years of real estate tax experience with a public accounting firm or tax reporting responsibilities in a private equity/investment firm
- In-depth knowledge of real estate tax compliance
- Good understanding of US GAAP
- Strong computer skills (Excel, Word and Powerpoint) required
- Prior Yardi Voyager and Sage FAS experience preferred
- Must be a detailed oriented self-starter with good oral and written communication and strong time management skills
- Must be a team player willing to support a help out when called upon
- Accounting / Control
- Financial Analysis
- Alternative Investments
2+ to 5 years
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