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Real Estate Accountant at Washington Real Estate Investment Trust

Posted in Other 30+ days ago.

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Type: Full Time
Location: Washington, Washington DC

Job Description:

Company Summary

Washington REIT is a trusted, industry-leading owner and operator of real estate assets in the Washington, D.C., area. Backed by decades of experience, expertise, and ambition, we create value by transforming insights into strategy and strategy into action. Our portfolio of 49 properties includes more than 6.3 million square feet of commercial space and more than 4, 268 multifamily apartment units. Our shares trade on the NYSE and our company currently has an enterprise value of more than $3 billion. As owners, managers, and partners, we take pride in our rigor, collaboration, and commitment. Our track record of driving returns and delivering satisfaction has made us a trusted authority in one of the nation's most competitive real estate markets.

The Real Estate Accountant will be responsible for the full cycle accounting and reporting for a portfolio of office, retail and residential properties. The position requires a dynamic accounting professional. A successful candidate will demonstrate the ability to work in a fast-paced environment while managing multiple tasks simultaneously and delivering quality work in a timely fashion.

Accounting for a Portfolio of 10-13 properties across residential, office and retail assets
Responsibilities include:

* Prepare timely, complete, and accurate monthly financial reports including calculation and posting of associated accruals, prepaid expenses, reconciliations, and property forecast to actual variance analysis .

* Review daily application of cash receipts.

* Calculate monthly management fee

* Proper billing and review of monthly recurring billing.

* Ensure financial terms of tenant leases (base rent, % rent, recoveries, etc.) are billed correctly.

* Analyze AR and work with property management team members to ensure adequate reserves.

* Prepare tenant account reconciliations.

* Prepare operating expense, common area maintenance, insurance, real estate tax recovery models.

* Create percentage rent calculation spreadsheets.

* Review new leases and lease abstracts for financial statement impact (allowance, abatement, commission, inducement, etc.)

* Responsible for preparation of monthly consolidated fixed asset roll forward, reconciliation of sub ledgers to the general ledger, and actual to budget analysis

* Transfer of project costs to fixed assets and placing assets into service
Strategic Accounting, Transaction Analysis, and Audit Support. * Provide analysis, accounting policy assessment, and review for various strategic accounting objectives

Strategic Accounting, Transaction Analysis, and Audit Support - Provide analysis, accounting policy assessment, and review for various strategic accounting objectives

Responsibilities include:

* Ensure accurate completion of annual income and expense forms for real estate tax jurisdictions and file personal property tax returns where applicable.

* Assist in the completion of purchase/sale proration and opening/closing entry generations.

* Prepare annual work papers for designated properties for audit and tax purposes.

* Assist in the annual audit process.

* Assist with preparation of year end budgets and monthly and quarterly reforecast for assigned portfolio.

* Prepare proration schedules and documentation associated with the sale of assets.

* Properly set up buildings, tenants, and GL balances associated with the purchase of assets.

* Additional Duties As Assigned.


* Goal-oriented, organized, detail oriented and driven team member

* Understanding of Sarbanes Oxley and US GAAP reporting requirements (real estate accounting is a plus).

* Thoughtful problem-solver with the ability to identify issues and asses solutions.

* Internal desire to learn new things and discover efficiencies.

* BA/BS in Accounting or Finance. CPA and Big 4 experience a plus

* Minimum 3 years work experience.

* Proficiency in Microsoft Word and Excel.

* Excellent communication, reading comprehension and analytical skills.


Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities


The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor s legal duty to furnish information.