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Senior Accountant

Finance & Analytics | Palo Alto, CA | Full Time

Job Description

About Pacific Urban Residential

Pacific Urban Residential (‘PUR’) is an industry-leading multi‐family investment firm and fund manager. Headquartered in Northern California’s Silicon Valley, PUR is focused exclusively on the multi‐family rental space. The firm has profitably deployed investment strategies on the East and West Coasts of the United States for the benefit of its private and institutional partners and stakeholders.

Since its inception in 1998, PUR has completed over $5 billion in apartment transactions for its own account and for its strategic partners. Today, PUR has four offices on the West Coast and an office in New York, over fifty professionals, and an owned apartment portfolio in excess of $4 billion dollars.

Pacific Urban Residential investments include “value-add” and “core-plus” strategies including acquiring and renovating 10 ‐ 30+-year-old “vintage” apartment communities. These properties are acquired with the investment objective of current cash flow and appreciation.

Pacific Urban Residential is an affiliate of The Marcus and Millichap Companies. More information can be found at www.purapts.com.

Position Overview

Job Description: We are seeking a Senior Accountant with 3+ years of experience in real estate or investment management whose strengths lie in financial analysis and reporting.  This position is located in the Palo Alto corporate headquarters and will be responsible for the financial review and reporting for a portfolio of multiple Business Unit assets and will also assist with cash flow projections, IRR calculations, and reporting to lenders and investors. As a member of the Finance & Analytics team, you will interact with senior management and provide key analytic tools for tracking the performance of the Business Unit portfolio of assets. This position reports to an Accounting Manager.

Duties include, but are not limited to, maintaining and analyzing accounting records, reviewing and approving monthly and quarterly financial reports, preparing interim and year-end audit work papers, submitting lender compliance reports, as well as other financial reports to management and/or owners. 

Primary Responsibilities:

  • Review and approve monthly financial statements prepared by third-party property management companies, which function may include reconciling errors, proposing journal entries, and reviewing and researching variance analyses
  • Assist in the preparation of the annual property budgets for the assigned portfolio of properties
  • Prepare and submit monthly/quarterly/annual financial and compliance reports to lenders and partners, including preparation of loan draw requests and equity contribution and distribution calculations, summaries, and notices
  • Prepare and analyze quarterly asset summaries for all wholly-owned assets and core apartment portfolio in order to help determine key quarterly valuations for each property
  • Calculate monthly equity contributions made by MMC to each property in order to determine the long-term cost of equity and determine how it compares to the IC Report
  • Prepare interim and year-end tax compliance, audit and/or tax work papers, and assist in the Q&A with external auditors.
  • Provide accurate and timely financial information to other internal departments and under specific deadlines
  • Attend and participate in cross-functional Business Unit team meetings with Portfolio Operations
  • Provide regular reporting to Portfolio Operations regarding revenue and expense trends and metrics, as well as analyze and benchmark performance of assets within the respective Business Unit
  • May perform other duties as required 

Knowledge & Skills:

  • Ability to prioritize and handle multiple tasks with flexibility to adapt and adjust on an ad hoc basis, as needed
  • Excellent organizational and communication skills, both written and oral
  • Proficiency in Microsoft Excel and Microsoft Word
  • Experience in Yardi software is preferred, but not required
  • Desire to grow professionally and personally
  • Team player with a collaborative approach

Qualifications & Education:

  • Bachelor’s Degree in Accounting or Finance
  • 3+ years of strong, general, full-cycle accounting experience, preferably in real estate or investment management
  • Public accounting experience a plus
  • The ideal candidate will be familiar with the multi-family industry

Please Note: 

  • Principals only; no recruiters, please. 
  • For consideration, please reply to this job posting. No phone calls or emails, please.
  • Pacific would like to thank you for applying. Due to the volume of responses received, only qualified candidates will receive a response.