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AJ Capital Partners · 1 day ago

Portfolio Controller

Chicago Office

Full-time

Onsite

Mid, Senior Level

$125K/yr - $135K/yr

5+ years exp

Adventurous Journeys Capital Partners (AJCP) is a vertically integrated real estate investment manager seeking a Portfolio Controller to join their accounting team focused on real estate investments and development. The role involves accurate financial reporting for multiple real estate funds, significant interaction with external auditors, and collaboration with various internal teams.

Real Estate

Responsibilities

Responsible for the monthly closing process, financial statement and quarterly investor statement preparation, and lender reporting packages for assigned real estate funds and/or joint ventures

Responsible for the calculation of management fees, distribution waterfalls, and carried interest

Lead cash management activities for your real estate funds and/or joint ventures, including working with the Portfolio Management, Capital Markets, Development, and Asset Management teams, as applicable, to process capital calls and distributions, forecast liquidity and estimated tax payments, manage payments for construction and other owner costs, coordinate loan draws and reserve account fundings, and optimize working capital needs across your assets

Oversee the preparation of quarterly investor account statements

Assist the Portfolio Management team in their process over fair market value calculations on the assets within assigned investment vehicles

Manage the annual audit and tax reporting process with the audit and tax providers

Develop a deep understanding of all significant agreements, including but not limited to entity operational agreements and side letters, debt agreements, development management, asset management, hotel management and restaurant management agreements, and applicable leases and insurance contracts; ensure the compliance with each of these agreements across your assets

Provide support to our outsourced providers who perform the property level accounting

Review monthly workbooks of the property level accountants

Work closely with development managers on status of project, budgets, and accounts payable to fully understand the project

Monitor development status to ensure proper capitalization of project costs and place in service dates

Critically analyze invoice coding and payment, new vendor setup and booking of payment within books and records

Maintain monthly checklists to ensure all invoices are captured timely and accurately each month

Assist Capital Markets team in lender funding of projects, including review of development and construction contractor pay applications and ensure proper documentation has been obtained (e.g. lien releases), true-up of retainage accounts are made and ensure invoice payments are made timely based on funding received

Manage/document business processes and accounting policies to maintain and strengthen internal controls

Assist in management of Portfolio Accountants

Perform any additional responsibilities that may be required to support AJCP’s rapid growth

Qualification

Real estate accountingFinancial reportingCPA certificationAudit experiencePartnership accountingInvestment company accountingCommunication skillsCritical thinkingAttention to detailCollaborationProject management

Required

B.A. or B.S. degree in accounting

5+ years of audit/financial reporting experience in real estate

CPA or CPA candidate

Preferred

Big 4 public accounting experience, combined with experience in partnership accounting, investment company accounting, construction accounting, and/or real estate accounting

Experience in a broad base of asset classes, including hospitality, multi-family, office, and retail

An advanced degree, such as a Masters of Accountancy / MAC or a Masters of Business Administration / MBA