San Mateo, California, United States
SHP Portfolio
ADIA Portfolio
Formally Renewable team in MAP Energy
•Responsible for 30 properties on the daily transactions, month end closing, reporting to owners and lenders. Review financial packages, loan draws, owner’s reports, lender’s reports, Debt Yield/DSCR test, etc. Prepare and calculate yearend CAM reconciliations, annual recovery estimate or quarterly CAM true-up. Assist in calculating owner’s distribution and contribution. •Coordinate with AR and Lease Admin to maintain tenant database for all responsible properties, review tenant charges and propose tenant adjustments where necessary. Process move-outs request, perform midyear CAM recon for security deposit refunds. Review rent rolls and delinquency reports. •Review budget to actual results and advise variance explanations to property managers. Assist in forecasting of monthly financial results and cash projections based on budgets and known trends. •Prepare and review Fixed Asset Place In Service. Coordinate with construction and job costing departments for accurate records and on time payments. •Prepare acquisitions and dispositions proration. Propose opening and closing entries. •Works with other internal teams in handling special requirements as defined in the Management Agreement and scope of services in the Financial Services Agreement. •Review A/R reports to ensure reconciliations are completed and reviewed by team. Prepare/ Review A/P to external vendors and corporate intercompany. Ensure property management fee and asset management fee calculations to be in accordance with the current Management Agreements. •Participate in external and internal audits and review or pull all the supporting documents requested by the auditors. •Training new employees on all the daily transactions. Mentor and coach team members to further develop competencies. Plan and monitor appropriate staffing levels and utilization of labor, including overtime.
•Responsible for month end close of various projects, including but not limited to bank reconciliation, •prepare or review GL reconciliation, JE, FAS 13, AR review, bad debt reserve, and Fixed Asset place in service. •Prepare monthly and quarterly financial reports in accordance with GAAP. Complete and compile reporting packages for clients, lenders and owners. •Prepare pro-ration schedule for acquisition or disposition. Capable of proposing and •recording acquisition or disposition JEs independently. •Prepare loan draws when needed, based on loan document requirements. Perform cash management duties. Calculate Cash contribution and distribution when necessary. •Calculate annual estimate and actual CAM reconciliations. •Assist Property managers in variance explanation and other accounting related questions as needed. •Assist in annual audit preparation, participate in annual budget process. •Train and mentor other accounting team member.
In addition to current property accounting assignments, be the coordination of property recovery set up on the MRI and Yardi systems. Setting up the pools, processing and reviewing all the CAM calculations for the commercial properties. Provide variance analysis for financial reports. Closing property and setting up new property during acquisitions.
·Maintain separate general ledgers for each assigned property. Properties are processed in a variety of ways: cash basis only, accrual basis only or both cash and accrual basis. The number of assigned properties is dependent upon the complexity of the property accounting, CAM, the type of building and the number of tenants. Property Accountants may process up to 15 separate financial statements each month for different ownership entities. ·Maintain tenant database: § Input lease abstracts (new leases and amendments). § Input cash receipts. § Input tenant charges and changes/adjustments. § Process move-outs and security deposit refunds. § Prepare estimated and actual CAM reconciliations (quarterly and annually). § Review rent rolls and delinquency reports. § Process monthly tenant statements for mailing to tenants · Handle general accounting: review A/P Prelim report for coding and description accuracy, G/L account analysis, journal entries, bank recs, management fee calculations, reconciliation of scheduled rent to actual rent billed, amortization and depreciation schedules if required. · Maintain cash records for each property and perform cash management functions. · Prepare monthly financial statements for property owners based upon their individual reporting requirements. Meet due dates which range from the 4th business day through 25th of each month. · Daily interface with property and regional managers. Work closely with other commercial property accountant team members and our A/P Specialists. · CAM reconciliations are done using a variety of methods: Excel, Yardi, MRI and Kardin. · Maintain property files including insurance, property tax and mortgage documentation on Excel for prepaid, accrued and amortization.