The Investment Accountant is responsible for assisting with different components of the financial accounting and reporting of the operations of real estate properties acquired and/or developed through the company’s various investment/fund vehicles. These may include office, multi-family, industrial, retail, hotel and mixed-use properties. This position works closely with the members of the Investment Accounting team whom are responsible for the accounting and reporting of the operational real estate assets.
Assist in the preparation and/or review of the following:
Straight-line rent entries,
CAM rule set-ups,
CAM true-ups and reconciliations
Vendor add approvals
Scheduling of mortgage payments
ETL estimate and actual entries
Ensure that assigned property level activity is recorded, reviewed and approved in a timely manner to meet monthly and quarterly reporting deadlines.
Assist the Investment Accounting Manager in the review of such purchase price allocations (PPAs) for accuracy and book adjustments as needed to the original acquisition entry. This includes assisting in preparing the necessary documentation to input assets into the fixed asset system.
Work with capital markets to provide any necessary financial information for new debt, refinancings or payoffs. Calculate and/or review debt covenant tests for property level debt. Ensure required reporting to lenders is done in a timely manner.
Ensure the timely reconciliation of WIP accounts and that assets are placed in service as appropriate. This includes reviewing the capitalization policy for proper treatment and assisting in determining the correct in-service dates and useful lives.
Calculate the property management and construction fee calculations for compliance with property management agreements. Ensure that they are processed in a timely fashion.
“GAAP up” property level cash basis budgets so that fund accounting team can layer in entity level activity.
Demonstrate leadership skills by volunteering for special projects in the department.
Perform research on accounting questions from investment accounting team members including 3rd parties.
Perform other duties as assigned.
At USAA Real Estate Company our employees enjoy generous benefits packages including comprehensive medical, dental and vision plans, 401k, USAA Membership eligibility, educational and professional designation assistance, business casual dress attire and much more! https://usaarealestatecareers.com/careers/benefits/
Qualified applicants must successfully complete a pre-employment background and drug screen. The above description reflects the details considered necessary to describe the principal functions of the job and should not be construed as a detailed description of all the work requirements that may be performed in the job.
USAA Real Estate is an Equal Opportunity and Affirmative Action Employer of Females, Minorities, Veterans and Disabled.
Bachelor's degree in Accounting/Finance
Proficient in Microsoft Office
Excellent verbal and written communication skills
Qualifications may warrant placement in different job level
CPA, or actively pursuing CPA designation
At least 1 year of relevant commercial real estate accounting experience
Joint venture/partnership accounting experience
Regularly required to sit for extended periods of time; frequently required to stand, walk, and use business equipment daily such as computer, copier, fax, telephone, etc.; frequently required to reach overhead, bend, and lift objects of up to 25 lbs.
Ability to handle stress caused by multiple priorities, and other unforeseen situations associated with the organization.
Eyesight and hearing must be correctable to standard level.
Employer will assist with relocation costs.
About USAA Real Estate
Acquiring, developing, financing and managing quality real estate investments since 1982, USAA Real Estate provides superior returns investing across the risk spectrum, with expertise in office, industrial, multi-family, retail and hotel assets. Investing for the USAA membership and aligned with more than one hundred investment partners across the world, we maintain an “Investor First” mindset with a significant co-investment in all programs. As the real estate investment management arm of USAA, a leading financial services company serving military families since 1922, USAA Real Estate has achieved a track record of success living up to the high standards set at USAA and sharing its culture. USAA’s balance sheet puts us in a position of strength – well capitalized to invest in multiple strategies. This is a distinct competitive advantage. USAA Real Estate is headquartered in San Antonio, Texas. www.usrealco.com